Business Finance
BUS475 Phoenix Week 2 Money Transfer Strategic Plan Presentation

BUS475

University of Phoenix

Question 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.

Click the Assignment Files tab to submit your assignment.

Final Answer

Attached.

Running head: STRATEGIC PLAN PART I: PROPOSAL OF A NEW DIVISION

Strategic Plan Part I: Proposal of a New Division
Students Name
Institutional Affiliation
Instructor
Date of Submission

1

STRATEGIC PLAN PART I: PROPOSAL OF A NEW DIVISION

2

Strategic Plan Part I: Proposal of a New Division
For a long time, customers have relied solely on banks for transferring money. This has
been very hectic and unreliable. It is for this reason that as a bank, the introduction of a mobile
money transfer at the institution so that the customers can be saved from the agony of only
relying on the brick and mortar for money transfer. The mobile money transfer is very essential
for businessmen and women who would want to access the banking services for twenty-four
hours a week, even when virtually all banks are non-operational on weekends and holidays
(David & David, 2017). It is therefore important that this new product will serve the advantage
of clients and will also help the bank by creating an additional revenue making activity. Apart
from increasing the revenue for Phoenix Bank, the mobile money transfer services will also help
solve the unemployment problem that society suffers in todays down economy. The primary
aims of this new service is to help the customers to get the much-needed money transfer services
more conveniently, to reduce the congestion in the banking system while such services sought by
the customers can be easily be given by the mobile money transfer services and finally reduces
time wastage to the clients by queuing in the bank for money transfer. This service is therefore
customer friendly and will benefit all customers (Tobbin & Kuwornu, 2011).
The mobile money transfer services shall be different from the normal money transfer
services. This is because the customers will be able to use it at their convenience, the customers
will have twenty-four-hour access, unlike normal banking which has regulated hours of service,
the mobile money transfer will also provide instant services such as the balance enquiry and
bank statements unlike the normal banking system which requires the customers to wait for some
time as the services are being processed.

STRATEGIC PLAN PART I: PROPOSA...

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