1400 word proposal for new product or service. create vision and business model.

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ybbcf79

Business Finance

Description

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.

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Explanation & Answer

Attached.

1
Running head: NEW SERVICE FOR COLGATE-PALMOLIVE

New Service for Colgate-Palmolive
Name:
Institution:
Professor:
Date:

2
Running head: NEW SERVICE FOR COLGATE-PALMOLIVE

Colgate-Palmolive Company
Colgate-Palmolive is among the fortune 500 companies that deal with the production and
distribution of household and personal products mainly oral and skin care. The company is
guided by values, mission, and vision which help them in accomplishing daily tasks and
offering the best to their customers. Its values include Caring, Global Teamwork, and
Continuous Improvement.
Their vision goes “As we plan our strategies to sustain growth for the years to come, our core
values of Caring, Global Teamwork, and Continuous Improvement will continue to drive our
future initiatives.” The group’s mission also states “As a company that strives to be the best
truly global consumer products company, we are committed to doing business with integrity
and respect for all people and the world around us.”
Coming up with a clinic that has a lab as a new division for this company would be a great
innovation that would offer clinical and laboratory services for the customers that use
products made by this company. The importance of this new service would be to conduct
tests on the health of the customers and make recommendations on the most suitable products
that the customer should use especially those who have experienced any forms of allergies
when using particular products.
The new service would also be an advantage to the company because it would increase the
revenues of the company for the customers will have to pay before receiving this service.
Also, the new service will place this company on a higher level regarding competitive
advantage than other companies that produce and distribute similar products.

3
Running head: NEW SERVICE FOR COLGATE-PALMOLIVE

Achieving competitive advantage
This division and new service will ensure there is an expert who will act as an authority in
managing the operations (Porter & Millar, 1985). The company will, therefore, have to
employ someone with enough experience and a specialist in this sector who will help in
drawing customers towards this service and also buy their trust. The specialist will also be
required to have good working relations with the rest of the employees in this division to
make sure that the customers receive the best services.
This new service will also be given to customers at a relatively lower price than those
companies that already offer the se...


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