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Analyze the different approaches to innovation

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Reference no: EM131895570

Question: Discussion 1: "Innovation Applied" Please 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.

Per the text, innovative activities fall under three categories: invention of a new product or process, innovation brings the new product into use, and imitation where competitors begin to imitate the new product to the point that the product becomes standardized.

• 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.

Discussion 2: "Is Growth Always Good?" Please respond to the following:

• From the case study, predict how well MySpace should have done since 2006, when the case study was written. Analyze the changes in the market environment that impacted MySpace.

• From the e-Activity, looking back over what happened in the social media market, knowing what we know about Facebook, propose what MySpace management could have done differently to overtake the competition with Facebook. Determine the mistakes that MySpace management may have made.

e-Activity: Use the Internet or the Strayer Library to research articles on the status of MySpace today. Take a note on how it has fared over the years. Research the status of Facebook. Take a note on how Facebook is different from MySpace. Be prepared to discuss.

Discussion 3: "Having a Plan B" Please respond to the following:

• Planning for exit might be the most important thing an entrepreneur can do. Without an exit strategy, the entrepreneur may have no retirement option, or no way to get his or her investment out of the business. Suggest at least three methods for an entrepreneur to exit and analyze the difficulties of implementing them.

• Using a business idea that you might consider for your own business, determine some key risks that would threaten your business plan. Propose a method to mitigate each key risk.

Reference no: EM131895570

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