Strategic Plan Part I: Proposal of a New Division, business & finance homework help

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qnavunyy

Business Finance

BUS475

Description

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.

Unformatted Attachment Preview

Strategic Planning Outline BUS/475 Version 7 1 University of Phoenix Material Strategic Planning Outline I. Title Page II. Table of Contents III. Executive Summary IV. Strategic Plan Part 1: New Business Division of an Existing Company; Vision, Mission, and Value Proposition V. Strategic Plan Part 2: SWOTT Analysis – Internal and External Environmental Analysis; Primary Internal Considerations for the Development of a Strategic Plan. VI. Strategic Plan Part 3: Assumptions, Risk and Change Management Plan; Summary of Strategic Objectives; Corporate Social Responsibility: Balanced Score Card and its impact on stakeholders; the Communication Plan VII. Strategies and Tactics Section VIII. Conclusion IX. Reference Page Strategic Plan Part I: Proposal of a New Division Grading Guide BUS/475 Version 7 Integrated Business Topics Copyright Copyright © 2017 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Strategic Plan Part I: Proposal of a New Division Grading Guide BUS/475 Version 7 Individual Assignment: Strategic Plan Part I: Proposal of a New Division 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. Resources Required Strategic Planning Outline and Week 2 textbook readings Grading Guide Content Used the Strategic Planning Outline as a guide to complete this section of student’s capstone project. Proposed a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensured differentiation of their product or service. Described how the division addresses customer needs and achieves competitive advantage. Created a vision and a business model for this new division that clearly demonstrates student’s decision on what they want their business to become in the future. Explained how the vision, mission, and value of the new division aligns with the company's mission and vision. Summarized how the vision, mission, and values guides the division's strategic direction. Defined guiding principles and values for student’s division in the context of culture, social responsibility, and ethics. Cited a minimum of two peer-reviewed references. The proposal is a minimum of 1,400 words in length. Met Partially Met Not Met Comments: 2 Strategic Plan Part I: Proposal of a New Division Grading Guide BUS/475 Version 7 Content Writing Guidelines Met Met Partially Met Not Met Total Available Total Earned 6 #/6 Partially Met Not Met Total Available Total Earned 2 #/2 8 #/8 Organization The tone is appropriate to the content and assignment. The introduction provides a sufficient background on the topic and previews major points. Paragraph transitions are present, logical, and maintain the flow throughout the paper. The conclusion is logical, flows from the body of the paper, and reviews the major points. Mechanics The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: Comments: 3
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Explanation & Answer

Attached.

Running head: STRATEGIC PLANNING

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Strategic Planning
Institution Affiliation
Date

STRATEGIC PLANNING

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Proposal of a New Division

Introduction
In the recent past, there has been heightened competition in the banking sector throughout
the country and globally. It is, therefore, important for my bank to strategize and come up with
products and departments that will help the company to gain a competitive position in the
market. This strategic plan focuses on a well-laid plan for the bank to open new branches in other
states to grow the organization. Banking businesses have been hard to run and there have been
strategies that an organization which is looking in developing the businesses must ensure to use.
There is the problem of interest rates that the banks have to make sure to strategize around them
to ensure there are profits that the bank is making.
The New Service
There have been observations that offering of new services and products for bankers has
been a great opportunity to conduct business. This is because it is a chance for the organization
to connect with the customers and provide the services that can be approved by the customers
that are value added. Customers are the most important aspect of an organization. This is because
in the case where customers no longer value the products and services of the organization, they
are likely to venture into business with other organizations. This is the reason as to why a
business must ensure to base itself on the customer’s interests instead of their own. There is the
risk where risks may be underestimated and the division of the organization may fail even before
it starts. There have been observations that food managers who are strategists make sure to
identify risks and manage them before setting up of the division or venturing into new products
and services.

STRATEGIC PLANNING

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In the case where the risks and problems are not identified and resolved in advance, there
is a high likelihood that the resolution, in the long run, will be costly to the organization. The
new service that the bank is going to introduce in the new division is the internet banking. This is
...


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