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Exploiting Innovation
From the same case that you have chosen for Deliverables 1 and 2, you will determine the company's top advantage(s) and recommend alternative strategies that the company could take in order to beat its competitors.
Evaluate the importance of innovation for the long-term survival for your chosen company, as well as the industry that your chosen company fits in. Next, recommend an overall strategy in order to foster innovation in your chosen company. Provide a rationale for your response. 2. Speculate on how you would expect the industry to evolve over a period of five and ten years, based on your analysis of the innovative and technology trends from Project Deliverable 2. Provide a rationale for your response. 3. Determine your chosen company's top advantage(s) over its competitors. Justify your answer. 4. Determine two or three strategies that the company could use to exploit its innovation breakthroughs, using the top advantage(s) that you determined in Question 3. Analyze the main advantages and disadvantages of each strategy. 5. Recommend one of the strategies that you determined for the company and suggest how pursuing that strategy would exploit the company's advantages over its competitors and minimize its key weaknesses. Provide a rationale for your response. 6. Use at least three quality references. Note: Wikipedia and other similar websites do not qualify as academic resources.
Determine competitive advantage strategies to exploit innovation at a given company.
Define the three intensive strategies (market penetration, market development, and product development).
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