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.
Eli Lilly & Company
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.