Strategic Plan Part 1: New Product or Service BUS/475 This is 1 of 4

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 1,050- to 1,400-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.