Strategic Plan Part 1: New Product or Service

Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final paper is due in Week 5. Cite your resources.

Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your selected business's 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. 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 and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
• Explain how the vision, mission, and value of the new division align with the company's mission and vision.
• Summarize how the vision, mission, and values guide the division's strategic direction.
• Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.

Format your paper consistent with APA guidelines.