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give an example of a large company with an innovation unit and explain how their innovation unit functions.
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- Discuss the common steps involved in the innovation process in depth withrelevant references and examples.Describe innovation strategy and discuss why it is required in a competitive market.Conduct an innovation audit of your chosen organization and critically assess how innovation has impacted the organization over the past five years. Your innovation audit should be based on the organisation’s culture, agility, resources and skills.
- Explain each base on the picture. strengths of disruptive innovation limitations role of management accountantThe management of innovation demands a broad and balanced approach. What are the factors deemed to be critical for achieving success in innovation management?Explain how organizations should go about communicating with their customers. Distinguish between customer loyalty and profitability. Describe how to convert customers into innovation partners.
- Innovation management is a crucial element for organizations striving to stay competitive in a rapidly evolving business landscape. Successful innovation involves the systematic cultivation of new ideas, products, processes, or business models that contribute to growth and adaptability. Effective innovation management requires fostering a culture that encourages creativity, risk-taking, and continuous learning. Organizations must invest in research and development, collaborate with external partners, and leverage emerging technologies to stay at the forefront of their industries. Balancing the pursuit of disruptive innovations with the need for incremental improvements is key to sustaining a dynamic and forward-thinking organization. Question: How can organizations strike a balance between fostering a culture of innovation and managing the inherent risks associated with experimentation and change?Discuss how to determine a customer in a business venture. Explain how organizations should go about communicating with their customers. Distinguish between customer loyalty and profitability. Describe how to convert customers into innovation partners.How can an organization effectively manage the innovation process for product and service development to foster growth and competitive advantage?
- Discuss at least 5-6 points on the advantages of innovation management.How would the use of innovation communities help companies to learn from both success and failure? Discuss What type of organizational structure is represented by the use of innovation communities? Explain your rationale.Outline the four categories of innovation and provide examples to illustrate its applicability in a real-worldcontext.