Importance of innovation proposal
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Purpose of Assignment
Students will have the opportunity to research a company and industry to conceptualize forming a new division of an existing company based on a new product or service. The assigned text and Strategic Planning Outline serve as a guide to complete sections of the capstone project each week. This will allow the student to lay the basic foundation for an effective strategic plan. A final plan will be presented in Week 5.
Assignment Steps
Resources: Strategic Planning Outline and Week 2 textbook readings
Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final strategic plan is due in Week 5. Cite your resources.
Develop a minimum 1,400-word proposal in which you explain the importance of innovation in your selected division’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 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.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.
MATERIALS
Strategic Planning Outline
Strategic Plan Part I: Proposal of a New Division Grading Guide
Strategic Management, Ch. 3: The External Assessment
Strategic Management, Ch. 4: The Internal Assessment
Strategic Management, Ch. 6: Strategy Analysis and Choice
Importance of innovation proposal Essay
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