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- 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? DiscussDescribe the significance of Innovation Management?Why is it so difficult to predict whether an innovationmight disrupt an industry and when it could happen?
- What are the Benefits of Innovation Management and discuss atleast 5-6 pointsinnovation managememnt question _ 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?List the various approaches used by the companies to keep innovationstrong?
- Distinguish between customer loyalty and profitability. Describe how to convert customers into innovation partners.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.The ‘diffusion of innovation’ theory introduced by “Everett Rogers” described the process by which an individual adopts a new idea. Based on the news about launching Tesla’s new smart phone, assess the market potential for the introduction of this type of revolutionary smart phones and global effects of Tesla’s innovation on the smart phone business.
- Explain how this innovation solution(injuries and violence) would address the 5 characteristics (Relative Advantage, Trialability, Complexity, Compatibility, and Observability)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.Big or small companies across all industries or aspects are crowdsourcing product regarding innovation plans since tapping into a breadth of sources— both inside and outside the company—can produce unexpected and powerful new ideas. So, please find two crowdsourcing campaign that a company, from anywhere across the world, has used within the past two years (current year: 2021). Were they successful? Elaborate each comprehensively. Not satisfied means downvote! so answer carefully and essentially.