Competencies In this project, you will demonstrate your mastery of the following competencies: Determine how an organization gains a competitive advantage Determine organizational risk and growth opportunities in order to develop a strategic plan Defend business decisions in support of an organization’s strategic plan Scenario It’s the moment of truth: your opportunity to demonstrate why your new product or service is worth funding. You have done the research and know that the funding you seek can be a game changer for the company. Not only will it produce revenue and profitability, but more importantly, it will strategically set the company apart from its competition. You just have to convince senior management. In preparation, you have created a checklist for yourself to use in compiling information that includes research, feasibility of the idea via the BMC, scope of project (timeline included), project risk mitigation, DEI, CSR, and 24-month pro forma. You know that anything can happen in a funding pitch. With this in mind, you are prepared to answer questions that encompass all aspects of the project. Directions Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed: Value proposition: Describe the company’s current value proposition in the market. Describe the selected company’s main product or service. Discuss the company’s overall strategic plan. Competitive advantage: Describe the competitive advantage the company will gain by funding the project. Describe how you discovered an opportunity to do something better than your competitors. Determine how the new product or service shifts the value proposition of the company. Risks and opportunities: Establish the risks and growth opportunities of the company. Determine if the new product or service could disrupt the current industry. Identify the risks associated with the development of this new product or service. Growth opportunities: Describe the areas of potential growth for the company. Identify the growth opportunities within the company. Explain how the competitive advantage allows for growth. Distinguish as a new product or innovation: Distinguish the new product/service as an innovation or improvement on an existing product/service. Determine if the product or service fits within the capabilities of the company. Note: a company’s SWOT analysis or 10-K is an indicator of whether the new product or service could be feasible. Explain how the new product or service adds to the portfolio of the company. Target segment: Describe the targeted segment. Identify the target customer. Explain your blue ocean strategy. Note: The new market is identified here. Speculate sales: Speculate on the projected sales. Justify your product or service by the numbers; discuss your projected revenue gain. Note: it MUST have an ROI that justifies the project for investors and/or senior management. Explain the risks associated with projected sales. Speculate profitability: Speculate on the profitability of your proposed product or service. Determine if the project is profitable. Note: In this pitch for funding, senior management has to know that the project, based on market research, is speculated to be profitable. Use the company’s current income statement to project how the company’s profitability will be affected. Look to other companies in the marketplace with products or services similar to the one you are proposing as a basis for your projections. Note: these numbers are purely speculative. Determine the impact on the functional areas of the business (accounting, marketing, sales, and so on). CSR plan: Outline the plan to service the community or customers that purchase the product or service. Discuss how the idea demonstrates corporate social responsibility (CSR). Identify what the company has invested in as it relates to the communities they serve. Discuss how a good CSR plan helps the company gain competitive advantage. DEI plan: Summarize how the project will include a variety of perspectives to get a better unique value proposition. Determine if the company has a corporate culture built on DEI. Discuss how the project’s DEI plan fits into the company’s overall strategic plan.

According to the textbook, nurses in various settings are adopting a research-based (or evidence-based) practice that incorporates research findings into their decisions and interactions with clients. How do you see this being applied in your workplace?