Unit 7: Assignment

Read the following article: Scenario Analysis – Exploring Different Futures

https://www.mindtools.com/pages/article/newSTR_98.htm

Choose a Scenario associated with your project. A Recommend scenario’s would consist of: Ease of implementation, Achievement of goals, Extracting Value and benefit, Risks and Consequences. Don’t worry about collecting data, just focus on the certainties and uncertainties, develop an outcome and consider all major possibilities. Decide whether it is worth the risk.

Describe the process and how you arrived at an answer. Prepare a 300-word document, following the Assignment Analysis template and outline.

Unit 7: Discussion

Introduction

Innovation must be driven or guided for it to succeed. Innovation may occur within an R&D or Engineering department but this is generally technical in nature. For open innovation to flourish, there must be more participation from all employees. But employees alone, no matter how technically inclined, cannot generate a long-term programs and projects. The customers, business, and competitor must all supply information to the company for innovation to be culturally accepted.

For example, when Apple plans its next generation of I-phones it does not only look to the technology but it also looks to customer reactions and responses. The customers are expecting an outcome (or more than one) that they want, need, or desire. This is the real driver of innovation – the consumer – whose needs must be met for many businesses to survive. Outcome-driven is the most common form of innovation since it addresses a specific need. Businesses that drive their innovation efforts by monitoring the customer, competitor, and industry will be ahead of the product life cycle curve.

For innovation to be engrained in the organization it must become part and parcel with the culture and vocabulary of the company. Talking about innovation as people talk about profits and losses will help enculturate the organization.

Direction

Explain what the term Outcome-Driven Innovation means to you. Give an example and explain how the organization can achieve this goal. Provide feedback to others and examine how the company or business can make this a reality. For these responses, should outside sources be used to support the content within the postings, proper in-text citations and correctly formatted references should be prepared consistent with the APA (6^th edition). The list of references should be physically positioned at the end of the postings. Must be 250-300 words 3 references. For these responses, should outside sources be used to support the content within the postings, proper in-text citations and correctly formatted references should be prepared consistent with the APA (6^th edition). The list of references should be physically positioned at the end of the postings.

Textbooks

Title: The Innovation Tools Handbook, Volume 2

Authors: H. James Harrington and Frank Voehl

ISBN-13: 9781498760515

Title: The Innovation Tools Handbook, Volume 3

Authors: H. James Harrington and Frank Voehl

ISBN-13: 9781498760539

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