An established organization should ask which question when reflecting on innovation strategy? OA. What comes next if things go well? B. Where will you be in a year's time? OC. Do you have a clear and concise story which you can share with others about your idea? D. Is our innovation strategy clearly communicated so everyone knows the targets for improvement?
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- DruckerSystematic innovation involves “monitoring seven sources for innovative opportunity” (Drucker, 1985, p. 35). The first fourare internally focused within the business or industry, in that they may be visible to those involved in that organization orsector. The last three involve changes outside the business or industry.Internally FocusedThe unexpected (unexpected success, failure, or outside events)The incongruity between reality as it actually is and reality as it is assumed to be or as it ought to beInnovation based on process needChanges in industry structure or market structure that catch everyone unawaresExternally FocusedDemographics (population changes)Changes in perception, mood, and meaningNew knowledge, both scientific and nonscientific Discuss the concept which deals with opportunity thinking anddesign thinking, analyse their concepts by providing specific examples and cite readings (e.g. articles,narrative, research) from reputable sources.Discuss ....how can a firm ensure that the innovation strategy aligns with the broader strategic goals of an organization, and what techniques can a firm use to achieve this alignment?You have to make your own mission,vision and goal of your dream innovation or businesses. after that, you have to analyze it using SMART
- Case study: Experts Propose a Process for Increasing Innovation How would the use of innovation communities help companies to learn from both success and failure? Discuss1. Among the reasons why innovation strategy is important to companies/organizations, as a future entrepreneur/manager, select only one (1) that should be the most compelling reason, and explain your answer and cite a concrete example. 2. Which specific industry or organization that the academic sector, for example, Central Luzon State University offering BS Entrepreneurship at the College of Business Administration and Accountancy, should have a collaboration and innovation network? Explain your answer in relation to the advantages of having an innovation network discussed by Innolytics. 3. Based on the several reasons why companies/organizations undertake research and development, select only one (1) and convey your insights to explain about it.How can a firm ensure that the innovation strategy aligns with the broader strategic goals of an organization, and what techniques can a firm use to achieve this alignment?
- Use your own words to describe what is “disruptive innovation”. If you consider the industry structure (i.e., the 5 forces), is disruption innovation considered as the threat of new entrance, threat of substitutes, or Rivalry among existing competitors and why? Please list five (5) disruptive innovations in other industries (not automobile or related industries, as we will discuss the industry in detail later)Please answer . Themanagement of innovation demands a broad and balanced approach. What are the factors deemed to be critical for achieving success in innovation management?Compare and contrast the following past and current theories of innovation in the context of the size of companies and the use of technology and feedback. a. Disruptive innovation b. Dual innovation c. Open innovation d. Design thinking
- 3. Due to the environment and the needs of the customers are constantly changing, anentrepreneur needs to be able to improve different areas of their business to solveemerging problems and to keep creating new value for the customers. Knowing thetypes of innovations is essential to the business. a) Briefly explain the concept of incremental innovation.b) Describe any THREE (3) benefits of incremental innovation.Provide an excellent explanation of the concept of disruptive innovation and of strategies which have been developed in, and impacted on, the market sector, citing excellent examples; provide an excellent critical assessment of their impact in relation to the chosen theme, applying, with excellent justification, a range of referenced approaches, eg, competitor, risk and impact analysis, demonstrating excellent insights.Select an organization from the following list – that you feel demonstrates sustained innovation. Find information about the organization – you may wish to interview employees, or do some primary-source research about the organization (e.g. through company reports). It is okay to focus on only one innovative aspect of an organization which, in other respects, is not innovative. Describe what identifies that organization or part of that organization as innovative in your estimation. Write a formal paper describing what contributed to that organization being innovative. Identify underlying concepts, techniques, and processes that sets this innovative organization apart from other similar organizations. Provide hypothetical arguments or generalizations as to why you feel this organization is innovative, based on both the innovative blocks they avoid and the organizational attributes they demonstrate. Your paper should be 1,000 words, excluding the title page and reference page. The paper…