strategic plan

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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 1,050-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.


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Explanation & Answer

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Running head: STRATEGIC PLAN

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Strategic Plan Part 1: New product for the Go Roma Chain of Restaurants
Author’s Name
Instructor’s Name
Course Title
Date

STRATEGIC PLAN

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Strategic Plan Part 1: New product for Go Roma Chain of Restaurants
The food industry has seen major changes over the last few years as people become more
conscious about the food they consume. This paradigm shift has seen players in the industry,
restaurants included; devise strategies to ensure that the food on the menu is not only healthy but
also unique and delicious so that clients have an all-rounded culinary experience. The National
Restaurant Association (2017) reports that there are over a million restaurant locations in the
USA, revenue hit $800 billion in 2017 and projections show an even brighter future. Go Roma is
an Italian themed chain of restaurants that recently celebrated the eighth anniversary and are
looking to expand the business by introducing new products and services to meet the changing
needs of its clientele. This paper evaluates the possibility of introducing an innovative product
into the business by first discussing how the product will address customer needs and how it
contributes to the company's vision, mission, and values. The paper also determines how the
product aligns with the culture, ethics, and social responsibility principles of Go Roma.
The Product
Pets hold a special place in American households; research shows that close to 70% of all
families own a pet, which translates to 85million families (The National Restaurants Association,
2017). This is a demographic that a business in the food industr...


Anonymous
Really useful study material!

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