The Importance of Innovation in a Business

| June 20, 2015

Management Assignment

Use the University of Phoenix Material: Business Model and 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 1,500-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 for an existing company. 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.

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