Your concept brief was well-received by senior management, and now it is time to take the next step toward securing approval for your new idea. While havi

Overview

Your concept brief was well-received by senior management, and now it is time to take the next step toward securing approval for your new idea. While having a unique and insightful product or service is an important first step, additional information and steps are required to enable stakeholders to make an informed decision. Creating a project outline will provide a deeper understanding that is needed to evaluate the idea's potential for growth and determine whether to move forward, adjust before proceeding, or revisit the concept altogether.

Scenario

With approval to move forward, it is now time to dive deeper and focus on the details. Outlining specific details is essential for advancing your idea and ensuring alignment among the company's goals, mission, and vision. Before senior management seriously explores the likelihood of approving your idea for new opportunities and allocating funding, they need to have a better understanding of the key performance indicators (KPIs) and a timeline for this project. 

KPIs define success by providing measurable benchmarks to evaluate a project's performance and alignment with organizational objectives. They highlight the initiative's relevance, ensure it addresses genuine business or customer needs, and offer a framework for ongoing assessment and adaptation.

Note: Your work this week will also be used in your upcoming elevator pitch to senior management in Milestone One.

Directions

Using the Module Two Blue Ocean Strategy Canvas Template linked in the Supporting Materials section below, create an outline that effectively and thoughtfully presents a compelling argument for advancing your concept.

Use GlobalData Explorer and Yahoo Finance, which are linked in the Supporting Materials section. Also, use the company’s investor relations webpage to continue your investigation of the company you selected in Module One. This time, specifically, look at the company’s profile, financials, and SWOT analysis. This assignment helps you develop the ability to speculate based on research.

Using speculative strategies, analyze market opportunities and potential financial benefits. Keep in mind that success is not solely defined by revenue growth; it can also include other valuable outcomes, depending on the context. For example, while for-profit organizations are typically driven by financial growth, nonprofit organizations often prioritize specific outcomes, such as fundraising effectiveness, program impact, volunteer participation, or public awareness. The KPIs you need to consider and address in your outline are listed below.

Specifically, you must address the following rubric criteria:

1. The Intended Customer: Describe the intended customer or customer profile for the new product or service.
2. Opportunities in the Market: Explain the opportunities in the market based on your research.
3. Financial Opportunity: Assess the financial opportunity that the project presents for increasing cash flow and top-line revenue.
   1. Can cash flow be positive and profitable? For example, Zappos donates a pair of shoes for every pair of shoes sold. This eventually leads to profit due to good corporate social responsibility and company image, but it is not immediately profitable.

What to Submit

Please prepare a single Microsoft Word document that includes the following parts and information:

• Module Two Blue Ocean Strategy Canvas Template
• KPI Outline and Timeline that includes the intended customer, opportunities in the market, and financial opportunity. Based on your Blue Ocean Strategy Canvas, define the KPIs that will measure the success of your strategy. This information ensures the strategy is actionable and tied to measurable outcomes.

The timeline should include the development, pilot, and execution or rollout phases. This outline will provide a roadmap for implementing your strategy and achieving the defined KPIs.

Note: This project outline is a precursor to Milestone One: Elevator Pitch. Sources should be cited according to APA style.

Supporting Materials

The following resources support your work on this assignment:

Website: https://explorer.globaldata.com/HomePage/Home
Use this website to help complete this assignment.

Website: https://finance.yahoo.com
Use this website to help complete this assignment.

Reading: Blue Ocean Strategy ERRC Framework Sample( See attached)
This document is an example of how a company uses the ERRC framework.