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Outline an innovation project by creating a 1000- to 1,250-word business case.

Outline an innovation project by creating a 1000- to 1,250-word business case.

Part 1:

Innovative Business Case

Developing innovative new products and services is expensive, time consuming, and extremely risky. Most studies have indicated that the majority of development projects fail. Firms need to make difficult choices about which projects are worth the investment and which of those projects are pursued with a rigorous and well-thought-out development process.

Outline an innovation project by creating a 1000- to 1,250-word business case.

Identify a company of your choice and an idea for an innovative design project that it can develop.

  • Identify      why the organization is in a good position to be developing the new      product or service.
  • Analyze      how the new product or service fits with the company’s current strategic      plan.
  • Examine      the innovations that give competitive advantage to your chosen company and      whether this innovation is disruptive/revolutionary or evolutionary.
  • Examine      the methods best used to choose this project and the process that will be      followed to develop this idea within the company.
  • Develop      a timeline that outlines the steps to develop this innovation.

Complete the Innovation Business Case Template (Attached) or research to find a template of your own.

Part 2:

Innovation Presentation 

Create a presentation to promote the innovation project to the Executive Team of your chosen organization. Review the project information and incorporate it into your presentation. Include key assumptions and a clear description of the elements listed in the instructions below.

Innovation Project Implementation Plan 

Create a 10- to 15-slide presentation in which you complete the following.

  • Describe      your Innovation Project and the customer problem your product will solve.
  • Outline      how the project aligns with the company’s strategy.
  • Identify      the Innovation Project’s pricing and competition: Target customer(s),      pricing strategy, potential market size, potential competition and the      strategies for intellectual property protection.
  • Design      a development strategy and a schedule for the innovation project,      including the organizational structure and development      methodologies.

Part 3 Innovation Project Deployment Plan 

Create a 10- to 15-slide presentation in which you complete the following:

  • Prepare      an Introduction or Executive Summary.
  • Develop      a deployment strategy and schedule for introducing the innovation project      to the market.
  • Determine      key go-to-market considerations, which may include plans for: Advertising,      Marketing, Sales channels/distribution, Communications or promotion.
  • Estimate      the cost and analysis for: Development or manufacturing, Delivery,      Infrastructure and product support, High-level financial considerations,      including the potential size of the market for the company and      profitability.
  • Justify      the innovation investment and alternative investments or a non-investment      (e.g., What if the executive team disapproves the project?) and future      product plans, evolution, and so on (e.g., What’s next for this product in      the market?).

Prepare a conclusion with a recommendation or call-to-action statement.

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