The funding pitch went extremely well, and you just received word ?that your idea for the new product/service has been approved. In fact

Scenario

The funding pitch went extremely well, and you just received word  that your idea for the new product/service has been approved. In fact,  senior management sent a memo, company-wide, announcing the project.

One line in the memo really caught your attention: “We are eager to see the project to completion and the many other product offerings to come from this initiative.”

You reach out to the project manager (PM) and are told that,  typically, senior management expects to see product/service extensions  or some type of next steps stemming from an original product. This could  include different versions of the product/service, such as cheaper or  premium versions, new targeted customers, and more. The PM also adds  that senior management will look for contingency planning to protect the  funding for the project.

Prompt

For your business continuity plan, consider your next steps,  including project improvements and how to mitigate risk to the project  to protect the product investment. To accomplish this, you must leverage  employee and customer feedback on the new product/service.  Additionally, research the market and use a PESTLE analysis to examine  if any external factor could affect your new product offering.

Specifically, your plan must address the following criteria:

• Business continuity plan: Outline a basic business  continuity plan for your business that identifies key business areas and  critical functions as well as identifies at least one measure for  recovering or maintaining critical business operations in case of an  emergency. Include how you will ensure that this plan is followed.
• Post-launch stage: Propose new ideas for the  post-launch stage, including one idea for a product/service improvement  you plan to implement after the initial launch, and one idea for  increasing your customer base or engagement after the initial launch.
• Feedback loops: Explain how you will implement feedback loops for your product or service.
• PESTLE analysis: Use PESTLE analysis to identify at  least one external risk factor that may affect the project. Then  provide a solution or contingency plan for mitigating that risk.

Guidelines for Submission

Submission must be a 1- to 2-page Word document. Any sources cited should use APA formatting.