Innovation Approach 2023 Business Finance
2023 Innovation Approach In this section share your revised slides from Milestone One and
Innovation Approach
In this section, share your revised slides from Milestone One and make your recommendation for the innovation approach you think the company should pursue. Ensure this section includes the following information:
- Explain potential risks and benefits for options A and B.
- Overview (1 slide): Present the business problem and options A and B.
- Option A (1–2 slides): Explain at least two potential risks and benefits for option A.
- Option B (1–2 slides): Explain at least two potential risks and benefits for option B.
- Compare your competition’s products and services.
- Competitors: (3–4 slides): Evaluate the competitors’ current products and services.
- What are your competitors’ current products and services?
- Are your competitors expanding in the current market? Explain how this impacts their market strength.
- Competitors: (3–4 slides): Evaluate the competitors’ current products and services.
- Analyze your company’s capability to pursue the innovation.
- Complete a partial gap analysis (2 slides):
- Does the company own the technology, or does it need to be purchased?
- How is the technology currently being used in today’s products and services?
- What type of technology is available to purchase?
- Complete a partial gap analysis (2 slides):
- Recommend the innovation approach your company should pursue.
- Innovation Approach (2 slides): Explain which innovation approach you are recommending and why.
- Consider the different stakeholders (research and development [R&D], marketing, finance) while communicating your recommendations.
- Include a description of the incremental or discontinuous product that you are recommending for R&D.
- Include the sales forecasts for marketing.
- Include a financial snapshot for finance.
Submit a 10- to 13-slide PowerPoint presentation with detailed speaker notes that highlight the important points you want to emphasize to senior management on your recommendation for an innovation approach. Use the feedback you received on Milestone One to revise your original presentation. If you include references, they should be cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations.
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