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Strategic Plan Part I: Proposal of a New Division
Strategic Plan Part 1: New Product or Service
In this course you will be asked to start your own fictitious business OR a division in an existing, well-known Fortune-500 company (the company will be assigned to you by the Instructor.) Your individual assignments for weeks 2-5 will be to report various aspects of the business (or Division) you created.
VERY IMPORTANT: Each week, you must use the TEMPLATE provided by the Instructor for your Strategic Plan paper.
Choose a new business – selling a product or providing a service – you would like to start. Avoid non-profit businesses. Be realistic – although the business you will be starting is on paper, it should still be a real business, which you can visualize clearly. (OR, propose a new product or service for an existing, well-known Fortune-500 company.)
Write a paper of 1,200- to 1,400 words in which you explain the importance of your selected business’s vision, mission, and values in determining your strategic direction. Include the following BY USING THE TEMPLATE supplied by the Instructor:
• Define your business, whether a product or service, and your motivation to start that particular business.
– source of finance, its location, number of employees in the initial stage,
– your market/customers, possible competitors, etc. Include all the information that is necessary for a casual reader to clearly see the overall picture your business.
• Describe your vision for your business that clearly demonstrates what you want your business to become in the future. Create a Vision statement.
• Create a Mission statement for your business and describe the rationale for arriving at it.
• Define the guiding principles or values for your selected business in terms of social responsibility, and ethics. Make a list of six to ten values that address the needs of all of your stakeholders and describe briefly how each addresses the stakeholder needs and why each of those values is important to you.
Cite two references from the textbook.
Format your paper using the template provided. Remember to use various levels of headings.
Strategic Management: A Competitive Advantage Approach (16th Edition)
BY: Fred R. David & Forest R. David