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    Innovative Products

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    Define the term innovation. Then, research what you think is an example of an innovative product or service. Include the following within your discussion:

    Part 1:
    My product is the Think Pad.
    - What is your product, and why do you feel the product you have selected is innovative within its industry?
    - How was the product introduced to the market, and which approach was used - entrepreneurship or intrapreneurship?
    - What were the advantages or disadvantages resulting from using the particular approach?
    - What were the challenges faced in bringing the innovation to market?

    Part 2: Product Idea
    Using your product example from the previous post, begin your response with the following:
    - What is your product, and why do you feel the product you have selected is innovative within its industry?
    - How was the product introduced to the market, and which approach was used - entrepreneurship or intrapreneurship?
    - Give a brief description of some advantages, disadvantages, or challenges resulting from using the particular approach.

    Part 3: Business Model
    Then, create a scenario that illustrates what might have happened had the following occurred:
    - The intrapreneurial product had been brought to market through entrepreneurship.
    - The entrepreneurial product been brought to market through intrapreneurial means.
    - Explain the different risks, skill sets, organizational assets, funding, and keys to success that would have been necessary to accomplish this different approach.

    © BrainMass Inc. brainmass.com October 10, 2019, 5:26 am ad1c9bdddf
    https://brainmass.com/business/entrepreneurial-issues/innovative-products-504958

    Solution Preview

    Step 1
    Part1: The product is ThinkPad.
    The product is innovative within its industry because starting from when the first ThinkPad was introduced in the market, to the current improvements in the product, the ThinkPad has remained technologically ahead of its competitors. The product was first introduced in 1992 by IBM, and then it was ahead of other laptops and computers available. The latest ThinkPad is Tablet 2, which runs the Windows 8 professional and will be able to run all software compatible with Windows 8. The Tablet 2 has 2 GB of RAM and a 64-gigabyte SSD. It also has a 10.1 inch IPS display with a 16.9 aspect ratio and a resolution of 1,366 by 768. This is truly innovative for a tablet.

    The first models were introduced in October 1992 and were 700, 700C and 700T. These were very successful and won 300 awards for quality and design. The approach was intrapreneurship. IBM integrated risk-taking and innovation and reward and motivational techniques.

    The advantages of this approach were that there was further product development in IBM and more ThinkPad models were developed and launched. The design of ThinkPad has considerablly improved since 1995 and is led by David Hill. For example, in ThinkPad 701 the fold-out butterfly keyboard appeared. This was ...

    Solution Summary

    This posting gives you a step-by-step explanation of Innovative Products. The response also contains the sources used.

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