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In Phase 2, your team will work together to develop a detailed description and implementation plan for the innovation you selected to pursue in Topic 3. Each team member must research and describe a product development or management process, methodology, or model that could be utilized to implement the innovation. The group should select and use one of these models for developing its own implementation plan. ***WE ARE USING THE LEAN STARTUP PLAN MODEL***For this assignment, write a paper of 2,000-3,000 words that addresses the following: (I am only responsible for questions 1 and 2)Describe the value the new product or service will provide to customers and describe the need it will meet.Create a implementation plan with a realistic timeframe and budgeting options, which will take into account contingencies and risksNoteFor your next paper (Week 6), add a few things to be outstanding again. 1. Make sure the paper is written in one voice. This is mostly done with this paper, but do it even a little better. 2. SHOW ME THE MONEY!!! Pretend I am in investor and you need my money to stat your company. If you can’t show me your profit and my ROI, I won’t invest. 3. Use lots of charts, graphs, financial statements to show me #2 A picture is worth 1,000 words.