Reference no: EM132654155

MANAGEMENT OF TECHNOLOGY & INNOVATION

Project Should be based on a supermarket, Resturant

Project: Innovation Strategy

Students are required to form themselves into teams, no larger than six (6), to assess the innovative capacity of a firm of their choice, in the following areas:

1. Identification and description of its core capabilities

2. Identification and description of lead users
a. Who are lead-users within your industry for the need of your chosen target market?
b. Who are lead-users outside your industry for the need of your chosen target market?
c. Visualize the various wishes these lead-users would likely have (in a collage or photoshop)

3. Formulation and development of an assignment

4. Draw up a list of specifications for either (a) an improved or (b) an entirely new product or service

5. Design and illustrate a viable concept

6. Determine a commercialization strategy that will ensure success in its competitive landscape
a. Technology/competencies:
How will you plan the development, validation, and production of your solution
b. Market:
How will you get your product/service to market or how will you role out your business model?
i. Who will you use to determine your user needs?

ii. What is your value proposition?
iii. What is your target market?
iv. What channels will you use to go to market?
v. How will you ensure wider rollout (growth)
c. Business:
How will you organize yourselves around the solution?
i. What new technologies/competencies do you need to build and how will you acquire them?
ii. Who will handle the rollout of the solution? Will you use the existing organization; if so, who or what department(s)? Or, will you create a separate unit, or a new venture?
iii. Do you need to hire new personnel? If so, who, when, and where?

7. Describe your target market needs
a. Describe your target market?
b. Describe what needs these target markets would likely have.

8. Depict your technology strategy
a. What are currently your key products, technologies and capabilities?
b. What products, technologies and capabilities will impact your industry in the future (trends)?
c. What products, technologies, and capabilities will you need to develop/acquire in the future?
d. Represent this information in a technology map
e. Visualize how some technologies could address your user needs (collage or Photoshop)

9. Formulate an R&D strategy
a. Formulate an R&D strategy and link it to that of the firm
b. What do your competitors spend on R&D? (see annual reports etc, perhaps industry average; mostly in % of sales): Provide an absolute figure
c. Divide the R&D budget over the major categories of projects.

d. Formulate a breakthrough, platform, and derivative project.

10. Formulate an assignment for a new breakthrough or platform product/service
a. Specify the assignment
b. who is to handle this assignment
c. Specify what exactly the deliverable should be
d. Formulate a final list of specifications for the product/service/business model etc
(List the headings of the most important categories + offer 1 or 2 specs per category)

11. Show whether your strategy can handle different scenarios
a. What major uncertainties/trends do you envision in the future?
b. What four major scenarios did you envision?
c. Explain under which scenarios your strategy holds and fails

12. Good structure, formatting, references etc

PART B

Team Presentation: Innovation Strategy

Create a deck of slides (about 8-12) in which you address the following issues. You will present this to class on the final day of the course.

1. Describe your target market needs
2. Define your lead-users
3. Depict your technology strategy
4. Formulate an R&D strategy
5. Formulate an innovation assignment
6. Offer a visualization of your concept/solution
7. Depict your commercialization strategy
8. Verification of robustness through scenario check
9. Clear presentation with focus on key elements supported with well-defined concepts and rationale