New Product or Service Division of an Existing Business
Write a 1,400- to 1,750-word paper in which you distinguish the significance and importance of innovation in your selected business. Attribute the importance of innovation when developing the vision, mission, and values, and determine your business model for this new division. Include the following:
• Propose a new product or service for the new company division and sustain the selection with research. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service by explaining the validity, reliability and credibility of the research collected data.
• Analyze and describe how the division addresses customer needs and achieves competitive advantage considering the workplace values, personnel behavior and individual values.
• Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future and make sure you identify alternative solutions based on the impact and identification of potential risks and mitigation plans.
• Explain how the vision, mission, and value of the new division align with the company's mission and vision and the impact in each one of the stakeholders.
• Summarize how the vision, mission, and values guide the division's strategic direction. Analyze the degree of alignment of the new company division with the organization values as reflected by the organizational plan and actions.
• Define your guiding principles and values for your division. Evaluate the implications in the context of culture, social responsibility, and ethics.