Innovative framework for a business concept
Innovative framework for a business concept
Develop an Innovation Framework” Please respond to the following:
Discussion 1-No more than 2 paragraphs
Develop a simple innovative framework for a business concept of your choice using the five (5) key questions (what, when, where, who, how). Next,predict whether or not this strategy will require an incremental change or radical change. Provide support for your response.
Discuss three (3) ways that an organization could benefit using the search strategies of Zone 1 (Exploit), Zone 2 (Explore), Zone 3 (Reframing), and Zone 4 (Co-evolution) to explore the best space for their innovative strategy. Provide support for your response.
will offer Tips and Hints on each of our weekly DB’s (we typically have two per week). I will focus on at least one element of our DB’s (as our DB’s usually have two questions per DB). My Tips and Hints are entirely optional, and you can choose to follow my advice or not – the quality of your response(s) is up to you and you are responsible for all of your research, interpretation, and APA formatting (citation and referencing). These Tips and Hints are offered as a courtesy. Thanks, Dr. Vic.
TIPS read below:
DB1: Discussion 1: “Develop an Innovation Framework”
Develop a simple innovative framework for a business concept of your choice using the five (5) key questions (what, when, where, who, how). Next, predict whether or not this strategy will require an incremental change or radical change. Provide support for your response. (Dr. Vic’s Tips: please see Ch. 7 p.p. 199-207 for an explanation of the 5 key questions, then – using your innovative idea, list the 5 questions with a brief explanation of each – similar to what is listed on p. 199. Then see p.p. 201-202, Figure 7.1 for an explanation of Incremental and radical change. Make a determination of your idea as it related to incremental or radical change and explain why you selected the change you did).
Discuss three (3) ways that an organization could benefit using the search strategies of Zone 1 (Exploit), Zone 2 (Explore), Zone 3 (Reframing), and Zone 4 (Co-evolution) to explore the best space for their innovative strategy. Provide support for your response. (Dr. Vic’s Tips: p.p. 208-215 of Ch. 7 discuss all four Zones, please read this material. Then, list and describe each of the e ways an organization can benefits using the information and methods of these Zones).
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Discussion Question 2 (No more than 2 paragraphs
Expert Partial Solution
“Management Parts of the Business Plan and Developing a Forecasting Strategy” Please respond to the following:
Identify three (3) common problems associated with business plans and share the implications of these shortcomings. Provide support for your response.
Some of the problems associated with business plans include:
- Failure to focus on competition
- Hiding business weaknesses
- Being inconsistent …Read more
Select two (2) forecasting techniques and compare the strengths and weaknesses of each approach. Next, discuss how each of your chosen forecasting strategies reduces the element of risk and uncertainty associated with change.
Examples of common forecasting techniques include:
Moving average technique
Straight-line technique…Read more
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