02 Aug Innovative Business Case Developing innovative new products and services is expensive, time consuming, and extremely risky. Most studies have indicated that the majority
Innovative Business Case
Developing innovative new products and services is expensive, time consuming, and extremely risky. Most studies have indicated that the majority of development projects fail. Firms need to make difficult choices about which projects are worth the investment and which of those projects are pursued with a rigorous and well-thought-out development process.
Outline an innovation project by creating a 750- to 1,050-word business case.
Identify a company of your choice and an idea for an innovative design project that it can develop.
- Identify why the organization is in a good position to be developing the new product or service.
- Analyze how the new product or service fits with the company's current strategic plan.
- Examine the innovations that give competitive advantage to your chosen company and whether this innovation is disruptive/revolutionary or evolutionary.
- Examine the methods best used to choose this project.
Be mindful of the organization and the project you select, because you will continue your work and research for this same project by developing an implementation and deployment plan in Competency 3.
CMGTCB/558 v1
Innovative Business Case Template
CMGTCB/558 v1
Page 2 of 2
Innovative Business Case Template
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The Project
Identify a company and an idea for an innovative design project that it can develop.
The History
Identify why the organization is in a good position to be developing the new product or service.
Limitations
Analyze how the new product or service fits with the company's current strategic plan.
Approach
Examine the innovation that give competitive advantage to your chosen company and whether this innovation is disruptive/revolutionary or evolutionary.
Benefits
Examine the methods best used to choose this project.
Copyright 2021 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.
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