Importance of innovation and persuading consumers to change

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Reference no: EM133614261

Assignment:

Imagine that you are the innovation manager for a Western Australian lithium company. Your company has a vision for being a leader in a world transitioning to cleaner, greener energy. Lithium is a central component required for electric vehicles and for clean energy storage. You understand that your lithium company operates in a sunrise industry, that is characterised by a red-ocean environment.

During a team meeting, you discuss the importance of innovation and persuading consumers to change their behaviours to adopt cleaner energy technology. One of your staff members replied, 'People are not changing to cleaner energy as quickly as I'd like. I'm also worried that many lithium companies are entering the market - how can we differentiate ourselves? Aren't we all very similar?

Firstly, though applying Porter's Five Forces, OR Start Up Canvas OR Design Thinking, discuss the opportunities and challenges facing innovation within the field of clean energy (specifically, lithium).

Secondly, through applying persuasion theory, discuss what you could say to your colleague with regards to practical steps that could be taken to speed up consumer transitioning to cleaner energy products.

Reference no: EM133614261

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