QuestionQuestion

Pick any company and write a paper in which you explain the importance of innovation in your selected business'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 that 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.
Format your paper consistent with APA guidelines.

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Introduction

This report is based on the company PepsiCo. The company is guided by the vision of promoting sustainability of its operations through its performance with purpose program, under which it focuses on increasing shareholder value, environmental stewardship and taking part in actions which would add value to the society. Its mission is to become the top company in the world in its chosen product lines of convenience food and beverages. It seeks to add value to all the stakeholders such as investors, employees, customers and society at large through the practice of values of care, ethicality, honesty and integrity (PepsiCo, 2014). It has been facing tough competition from Coca-Cola which has been the leading beverage company in the world. As PepsiCo is diversifying its product line to include healthier eating options, addition of ready-to-eat healthy meals is expected to impart competitive advantage to the company.

New product for the convenience foods division of PepsiCo – Ready-to-eat meals

PepsiCo has been oriented towards producing and selling healthy eating options to the consumers. Some of its healthy brands include Quaker Oats, Tropicana juices, etc. Consistent with this strategy, it is suggested that the company should also include ready-to-eat meals in its product portfolio. As per study conducted by ACNielsen (2006), 87% of the people stated that they preferred to consume ready-to-eat meals since they did not have time to cook food from scratch. Moreover, the survey also found that consumers were more likely to buy ready-to-eat meals over dinner rather...
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