Business model and strategic plan part 1: conceptualizing a new product or service division of an existing business paper[Pin It]Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your selected businesss vision, mission, and values, and determine your business model for this new division. Include the following: include references and in text citations.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 companys mission and vision.Summarize how the vision, mission, and values guide the divisions 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