Business & Finance Homework Help

Lynnsie

I need a response or feedback on the below Answer:

Question: How is your capstone project innovative for the organization you have chosen? Identify ways your capstone is forward-thinking but also appropriate for the “now” of the organization.

Answer: We are focusing on product innovation, which is everything that involves products and services offered by the organization. On the internet, most people understand a form of product innovation as we see innovation as the marketing of products or services daily on social media or elsewhere. We also see innovation through stories or ads about innovation, for example, a new electric car with longer vehicle life, scissors that can shape different patterns, etc. There are also sites of suggestions that include ways to improve your product, known as incremental change.

Another form of suggested innovation is making your product completely different or radical change. It is the main item offered to the customer; this will be valuable to the organization if it can add value (Comstock, 2015). Process innovation includes ways and changes in which products and services are delivered or created. It is an important part of every structure in companies. The customers have focused on the most important thing in business. Position innovation is focused on the communication and framework of the products/services. Innovations position-based relate to changes in how a specific process or product is perceived and how the products/services are used. For example, jeans were developed for manual workers as clothing materials and are now perceived as fashion items or designs. 

Within Pocatello Elite, innovation involves new products and services, and we also need to think of positioning innovation as we think about how to market our latest ideas and expand. Some processes are also changing along the way, so overall, we see a lot of different types of innovation in our organization which I see as a great thing! 

Reference:

Comstock, N. W. (2015). Critical Skills: Leadership. Salem Press Encyclopedia.

Strategic Leadership and Change Management. (2011). Chapter 11. Retrieved from http://www2.uhv.edu/chapao/4305/outlines/Chp%2011%20Notes.htm