How innovation lead to growth opportunities for organization

Assignment Help Business Management

Reference no: EM133572832

Homework: The Role of Creativity and Innovation in Business

For this Homework, you will continue your role of a consultant who has been brought in to help the leadership of a company struggling to evolve in the current market. You will present a report to the CEO in which you analyze the relationship of creativity and innovation to business practices. For your reference, the scenario that was introduced is included here again.

The company's CEO, Gabriel Marron, has been resistant to change for the past 25 years, and the company recently began losing market share to other competitors. After months of being in denial, the CEO is finally open to considering the idea of implementing innovative approaches to reclaim the company's former position at the top. Gabriel admits that it is simply not in his nature to value innovation. Sticking to tried and true methods has always worked favorably throughout his career, but you are being brought in because that is proving to no longer be the case. In your report, you will draw the connection between creativity, innovation, and business practices.

With those thoughts in mind, construct your report to the CEO with the following section, being sure to incorporate appropriate business examples (as indicated), as well as citations for relevant academic resources from the classroom, the Walden Library, and/or other appropriate scholarly sources to support your work.

Submit your analysis of the role of creativity and innovation in business, in which you address the following in a 3 to 4 pages business report (excluding references):

Task: Incorporating an Innovative Strategy

Question A. How can a company incorporate innovation into its strategy, and what are the benefits and potential risks (if any) of doing so?

Question B. How can innovation lead to growth opportunities for an organization?

Question C. How can innovation and innovation strategy create impact for an organization?

Question D. What is the role of innovation in creating a competitive advantage for an organization?

Question E. Using the examples of organizations you identified, analyze the internal and external impacts of each organization's innovative practices.

Question F. Specifically, in what ways does/did the innovative practices enable each organization to take advantage of growth opportunities, have an impact, and/or achieve or maintain a competitive advantage?

Reference no: EM133572832

Questions Cloud

Was foster entitled to recover on the policy : Foster testified vaguely that her father had told her that McClurkin was her second cousin on his side of the family. Was Foster entitled to recover on

Analyze how the leadership or ceo of the company promotes : Analyze how the leadership or CEO of the company promotes long-term value creation. Summarize capital allocation practices for this company.

Evaluate any four different methods you can use for : Evaluate any four (4) different methods you can use for contacting potential business contacts applicable to the industry given in the scenario above

Share your thought how innovation play role at organization : Share your thoughts on how innovation played a role at organization colleague chose. The impact of innovation on the company's growth and competitive advantage.

How innovation lead to growth opportunities for organization : How can innovation lead to growth opportunities for an organization? How can innovation and innovation strategy create impact for an organization?

Write a paper that summarizes your responses to the four : Review the four case studies you have completed in this course. Write a paper that summarizes your responses to the four case study questions.

How can airbnb ensure the ethical treatment of consumers : How can Airbnb ensure the ethical treatment of consumers? Should there be a separate strategy for the international component of their business model?

Which type of market segmentation is the company utilizing : At the end of the ad, the young woman is sitting down to dinner with a friend on her balcony overlooking the city lights and toasting with glasses of the wine

Discuss strengths and weaknesses of each primary competitor : Discuss the strengths and weaknesses of each primary competitor. Consider sales, quality, distribution, price, production capabilities, reputation and products.

User Account

All Pages