Reference no: EM132429865
Part 1 :
Innovation Applied
Read Chapter 13 Strategic Entrepreneurship and review the Learn video/lecture, then respond to the following:
- Analyze the different approaches to innovation discussed in this chapter to determine which approach you think would be the greatest value to the greatest number of organizations. Explain your rationale.
- Create one innovative approach that is not discussed in the textbook for increasing the amount of innovation within a large company. Describe this approach in detail and explain how companies could benefit from it.
Part 2 :
Respond to a classmate discussion post below
- Analyze the different approaches to innovation discussed in this chapter to determine which approach you think would be the greatest value to the greatest number of organizations. Explain your rationale.
I believe that innovation is the best approach for a business it would offer the greatest value to the largest number of organizations. My current business in lawn care has seen a change in innovation and to keep up with and surpass my competition I must be innovative whether it be technology or other resources. Commercial mowers for instance are costly yet they outperform the residential mowers and have a longer stance for durability. Other innovations are battery operated machinery which will perform at 50 or 60 hours in the field. Other items to mention are getting your name out to a wide spread community or group. When I first started this business I would cruise neighborhoods and place flyers in the mailboxes of residence, and then came along Nextdoor APP. This technology has allowed my company to triple in clients I started 3 years ago with 4 now to date I have a community, 4 employees, and 56 clients.
- Create one innovative approach that is not discussed in the textbook for increasing the amount of innovation within a large company. Describe this approach in detail and explain how companies could benefit from it.
Innovation tied with entrepreneurship; Kevin Harvick the driver of the number 4 Jimmy Johns Ford Mustang has been racing since the age of 10. He became famous when he stated at one of his events in California he would drive for the late Dale Earnhardt. He went out that weekend and won in stellar fashion for all the fans. He and his wife Delana also started their own racing team which has sailed into championship form and none like it throughout the Nascar teams or racers. While in High School he and his father built their own race, team called the Nascar Late Model division as we know it today. Kevin Harvick has become of the household names with Nascar and has taken the sport to the next level he has also sponsored female MMA fighter Miesha Tate and also sponsors his own clothing line through MMA as well as PGA clothing."