Assignment: Strategic Plan
Choose an existing business and develop a new product or service for a new division you will be in charge of. Note, this must be an existing business and cannot be your own business, if you are a business owner.
Write a minimum 1,400-word paper in which you explain the importance of innovation for your new division. Include the following:
• Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.
• Describe how the division addresses customer needs and achieves competitive advantage.
• Create a vision for this new division that clearly demonstrates your decision on what you want your business to become in the future.
• Define guiding principles and values for your division; also consider values for culture, social responsibility, and ethics.
• Explain how the vision, mission statement, and values of the new division align with the company's mission statement, vision, and values.
• Summarize how the vision, mission statement, and values guide the division's strategic direction.
Format your paper consistent with APA guidelines.