Firms go to great lengths to develop new product ideas

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1. Firms go to great lengths to develop new product ideas. Sometimes new ideas come from brainstorming, in which groups of individuals get together and try to think of as many different, novel, creative and, it is hoped, profitable ideas fro a new product as possible. With your group, participate in brainstorming for new product ideas for one of the following.

A. An exercise machine with some desirable new features

B. A combination shampoo and body wash

C. A new type of university

2. As an entrepreneur, you know that innovation will play a huge role in your new business. With your team, brainstorm briefly to define what your new business will be - let the sky be your limit. Then create a short outline that defines the various types of innovations - continuous, dynamically continuous, and discontinuous - and give examples of each. Which innovation type would be the easiest when starting out? Which innovation type brings the greatest reward? Which innovation type ultimately makes the most sense for your new business?

Reference no: EM132293060

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