Reference no: EM131674548

Assignment

During Phase 1, each individual will submit their own idea for an innovation along with a model they find useful for evaluating its merits. Each team member is responsible for completing research on various models. While there are several models in circulation for evaluating innovations, such as The Lean StartUp Plan, NOMMAR, SNIFF, and the linear and mental models of innovation, innovators should not feel constrained by any particular model. Feel free to borrow elements from multiple models to develop one that would work best to most effectively evaluate your own innovation.

Teams will then review all of the submissions and choose the most promising idea to pursue. The idea should be selected by application of one of the evaluation models submitted by team members. You will then write a report of 1,500-2,500 words that describes the team's selection process and identifies the final choice. The report must contain the following components:

-A one- or two-paragraph summary of each team member's idea, a description of the model used to evaluate the idea, and the results of the evaluation. Specifically, the evaluation should identify the merits, drawbacks, and challenges associated with the idea.

-Identification of the selected idea for the project accompanied by a description of the model used to evaluate the idea. Include the results of the evaluation, which will serve as the justification for the team's selection. Preliminarily forecast the most significant challenges that could impede the development of the selected idea.-

A project plan that summarizes the roles or tasks assigned to each team member that must be accomplished to complete Phase 2 of the project due in Module 6.

-In-text citations from at least five reputable secondary sources. Each person on the team must contribute an article from the research that was completed on innovation implementation/evaluation models.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

In Phase 2, your team will work together to develop a detailed description and implementation plan for the innovation you selected to pursue in Module 3. Each team member must research and describe a product development or management process, methodology, or model that could be utilized to implement the innovation. The group should select and use one of these models for developing its own implementation plan.

For this assignment, write a paper of 2,000-3,000 words that addresses the following:

-Finalize the name and include a one- or two-sentence description of the innovation.

-Describe the value the new product or service will provide to customers and describe the need it will meet.

-Utilizing the model selected by the team, create the detailed implementation plan for the innovation. Make sure the plan accounts for contingencies/risks in the implementation process and includes realistic timeframe and budgeting considerations.

-Use graphics such as organizational charts, process maps, and/or budget tables as appropriate to increase the readability and professional appeal of the plan.

-Include in-text citations from at least six secondary sources. Each person on the team must contribute an article from the research that was completed on product development or management processes, methodologies, and/or models.

-Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

In Phase 3, your team will prepare a presentation to recommend your implementation plan to the appropriate audience for your innovation (e.g., venture capitalists, your CEO, your board of directors, etc.). Your goal is to persuade the audience to back your plan. Prepare 10-15 professionally developed presentation slides that accomplish the following:

-Describe the innovation and its value to both customers and the organization/entity to which you are pitching your idea.

-Review the implementation plan in significant enough depth to demonstrate your thorough understanding of the implementation process.

-Include a cost/benefit analysis appropriate for your particular audience.

Ensure your slides are visually appealing and conform to conventions of effective slide design. Include a reference slide with a minimum of three secondary resources utilized in the development of your presentation.

While APA style is not required for the body of this assignment.