The CEO of your company has sent you an e-mail explaining how impressed he was with your last assignment. He explains in his e-mail that he wants you to address the innovation technique used in the development of your researched company's product (from the previous Discussion Board assignment). He also explains that he wants you to create a situation that illustrates what might have happened had the following occurred:
* The intrapreneurial product was brought to the market through entrepreneurship
* The entrepreneurial product was brought to the market through intrapreneurial means
For this assignment, you must submit a report consisting of 850-1,000 words in which you discuss the innovation technique used in the development of your researched company's product. For full credit, you must address the following in your report:
* Discuss the innovation technique used in the development of your research company's product.
* Create a situation that illustrates what might have happened if your research company's intrapreneurial product was brought to the market through entrepreneurship.
* Create a situation that illustrates what might have happened if your research company's entrepreneurial product was brought to the market through intrapreneurial means.
* Discuss the different risks, skill sets, organizational assets, and funding that would occur through both situations.
* Explain how the keys to success would have been different through both situations.
The response addresses the queries posted in 1191 words with references.
//This paper is related to different situations associated with the product development in a research company. Prior to discussing varying issues asked by the CEO, the introduction of the basic things asked by him are summarized under the same heading.//
The research company develops several products in its production process. In the production process, the company uses several innovation techniques. In this entire process, the CEO of the company wants to analyze some situations related to the introduction of the products of the research company in the market. In relation to these situations, there would occur some risks, skills sets, organizational assets, and funding for such products. In relation to both these situations, the keys to success would also be different.
//The introduction of the basic requirements is effective enough to discuss the further issues. In this relation, the following discussion is comprising the innovation techniques used in the research company.//
The products of the research company are developed with the inclusion of several innovation techniques, which make the products unique from the other existing products in the market. The main innovation techniques used by the research company are innovation through strategy, implementation of new methodologies, creativity, external product design, etc. (Peter & Donnelly, 2002).
Strategy Informs Innovation: In this innovation technique, the research company first develops a strategy and for the enhancement of the value to the related strategy, it pursues some innovations with which the product can be made a great utility for the customers.
Implementation of New Methodologies: New methods are the key to successful innovation. The research company continuously develops new methodologies for bringing new innovation in the product design and features to make them suitable and useful for the customers.