Innovation Report
The company you previously selected in your Week Two assignment wants to push innovation to a higher level by increasing investment into new and innovative products. They want you to become their counselor and justify their investment.
Write a 1,000- to 2,300-word paper that will encompass how the innovation motors and obstacles listed below will impact the future of the company. Complete the following in your paper:
?Discuss at least five of the following motives for innovation: ?Ability to obtain new financial sources
?Competitors
?Product life cycle
?New needs of a customer
?Regulations
?Sustainable development
?Changing/shifting demographics
?Social consciousness
?Demographics
?External/internal environment
?Discuss each of the following obstacles: ?Risk
?The project itself
?Uncertainty
?External and internal environment
?Company itself
?Justify pushing innovation to a higher level. Specifically explain how pushing innovation and technological change to a higher level will affect the company you selected.
?Determine the best innovation process to implement based on the innovation motors and obstacles you have identified for the company.
?Recommend a strategy the company can implement to create a culture for innovation.
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