Strategic Plan Part 1: New Product or Service


Question Description

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.
  • The company is mars hospitality groups

Tutor Answer

School: UT Austin


Strategic Plan: Mars Hospitality Groups


Strategic Plan: New Product or Service
Mars Hospitality Groups
Your name:
Course Number: course title
Instructor: name here
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Strategic Plan: Mars Hospitality Groups


Strategic Plan Part 1: New Product or Service
Mars Hospitality Groups
Executive Summary
The legitimate coordination between the vision, mission, and value has a great significance in
influencing growth and success of an organization. In a dynamic contemporary business
environment, businesses ought to utilize strategic planning tools as the most fundamental
mechanism through which competitive edge can be created and sustained for the organization to
attain its objectives. Therefore, the mission, vision and value proposition of the company have a
significant influence on the strategic direction of the company hence they should always be taken
into consideration during the planning process by Mars Hospitality Groups (McNamara
2013).The top management Mars Hospitality Groups ought to analyze the required needs of its
shareholders, needs and expectation of the customers and its the employees so as to ensure it
utilizes efficacy of its strategic decisions. Any company which intends to achieve its strategic
objectives needs to come up with an appropriate mission and vision statements which will be the
foundation for any subsequent decisions the management of Mars hospitality Group may make.
For the purpose of this paper, the focus shall be directed towards a new product/service to be
introduced in a new division in Mars Hospitality groups which is a company that specializes in
the management of hotels and clubs on contract thus providing guests with the best available
hospitality care they deserve.

Strategic Plan: Mars Hospitality Groups


Business Model and Strategic Plan Part 1: Existing Business
Vision Statement
Usually, forms a major component of the strategic planning in an organization. It is what actually
explains the image to the world as to what the company is aspiring to be if at all the mission of
the company will be achieved (Armstrong 1986).It is usually that idealistic version of how the
company will appear if all objectives work to the advantage of the company. It may basically
take a little bit longer to b realized but at the end of the day, ...

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