Identify what the company has invested

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Reference no: EM133940054

Overview
A sustainable, competitive advantage aligns with an organization's strengths and long-term strategy, which is where the Blue Ocean Strategy excels. By creating uncontested market spaces and delivering innovative value, organizations can minimize competition and uncover new opportunities for growth.Through a comprehensive analysis of risks and opportunities, businesses identify gaps, address unmet customer needs, and align with emerging trends like sustainability or technology. Defending these decisions with clear evidence and measurable outcomes builds stakeholder confidence and drives strategic buy-in.By leveraging the Blue Ocean Strategy, organizations can foster innovation, adapt to challenges, and achieve sustainable growth, ensuring continued success in evolving markets.

Scenario
This is your opportunity to prove why your new product or service deserves funding. You've done the research, and you understand that the investment you're seeking could be a game-changer for the company-driving revenue and profitability and strategically setting the organization apart from its competitors.Now, as you prepare to address questions from senior management, you've developed a comprehensive checklist with key talking points to cover all aspects of the project.

Research and market analysis
Feasibility of the idea using the Business Model Canvas (BMC)
Project scope, including a timeline
Risk mitigation strategies
Alignment with diversity, equity, and inclusion (DEI) and corporate social responsibility (CSR) goals
A 24-month pro forma that outlines financial projections
In this project, you will demonstrate your mastery of driving business opportunities based on 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
Directions
Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service.Specifically, you must address the following rubric criteria:

Value Proposition: Describe the company's existing 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 industry now.
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 or service as an innovation or improvement on an existing product or 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. Get instant assignment help from top tutors.
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 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 must know that the project, based on market research, is speculated to be profitable. Use the company's latest 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 who 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 gain 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.

Reference no: EM133940054

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