Business Finance : Task 1 competitive strategy

For this task you will begin to look for innovation all around you. You should use your Innovation Journal (found in Important Documents) to help you accomplish this task.

First, download the Innovation Journal.

Second, find a product or process that needs to be innovated.

Sit in a common area and observe. This may be in your office, a coffee shop, or on a park bench. Begin to look at the world around you. Take notes of common problems people have. Is there a way to make these problems disappear with an innovative product or process?

Research the company that currently owns the process or product.

Observe people that use the product or process.

Scrutinize the product or process.

Observe the product or process in use.

Research the creator of the product or process.

Research the changes that the product or process has gone through.

Determine why the product needs to change.

Describe a product and its attraction in the marketplace. Demonstrates why it is a positive move for the company and the expected effect. You may use all notes from your Innovation Journal Note 1 to help you accomplish this task.

Answers

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