Innovation
Innovation is not just a buzzword. It should be thought of as a core competency for all organizations especially
in this changing climate. Innovation is more than inventing, but in many ways it is continuing to reinvent over
time. In the literature it has been referred to as a mindset. Many companies spend millions and billions of
dollars each year on innovation. If organizations do not exhibit the ability to innovate then they will not be able
to compete in this economy. People who set themselves apart are those who can assist organizations to gain
leverage through being innovative.
In this assignment you are to choose a company that is nearing closure and recommend a plan that will help
them remain viable. Please follow these steps.
- Name the company and identify the industry.
- Provide some background about the company.
- What are the major issues?
- What innovative strategy do you recommend to keep the company viable? Why should leaders believe your
innovative strategy will work? - Discuss the relationship between the innovative process and assisting the organization to gain a competitive
advantage.
Innovation Defined
Conduct a google search for companies that have either closed or are in distress. Write a 2.5 page
assessment of the company to the CEO and Board of Directors. The goal of the paper is to write an
argumentative essay (Links to an external site.) convincing the leaders to keep the company open.
Name the company and identify the industry.
Provide some background about the company.
What are the major issues?
What innovative strategy do you recommend to keep the company viable? Why should leaders believe your
innovative strategy will work?
Discuss the relationship between the innovative process and assisting the organization to gain a competitive
advantage.