Strategic Plan Part 1: New Product or Service (Tesla Company)

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junghc

Business Finance

Description

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.

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Explanation & Answer

Attached.

Running Head: STRATEGIC PLAN

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Strategic Plan Part 1: New Product or Service (Tesla Company)
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Running Head: STRATEGIC PLAN

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New Product

This new product that is being brought into the market is a revolutionary product that will
be used by people to move from place to place without having to worry about traffic congestion.
This new product by Tesla Company which is known for its innovativeness and its big ambitions
will be a small aircraft that will be used to move from point to point. The product is a one sitter
craft that can achieve flight and be used by people when going to work, going to school, or
anywhere. This product does not need an airport or airstrip as it takes off vertically and lands in a
small space e.g. a parking lot. The craft will run on electricity which a favored form of energy by
Tesla corporation which for its environment friendliness. This is a revolutionary product as there
not any company that manufactures this kind of aircraft so far.
The mission statement for this new division will be ‘to revolutionize mobility for short
distance travelling through aircrafts’. This will be the new division’s mission as the company
seeks to make it very convenient for people to move to places that are short distance from where
they are without having to stop at traffic lights or to worry about traffic congestion that can make
them late for work. This devices will be easy to operate and everybody who wishes to acquire
one will get training on how to operate them from our company.
This new product is different from what exists from other companies and what we usually
deal with, i.e. electric cars. Other aircraft m...

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