Innovation Report


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The company you previously selected in your Week Two assignment wants to push innovation to a higher level by increasing investment into new and innovative products. They want you to become their counselor and justify their investment.
Write a 1,050- to 2,300-word paper that will encompass how the innovation motors and obstacles listed below will impact the future of the company. Complete the following in your paper:
Discuss at least five of the following motives for innovation:
Ability to obtain new financial sources
Competitors
Product life cycle
New needs of a customer
Regulations
Sustainable development
Changing/shifting demographics
Social consciousness
Demographics
External/internal environment
Discuss each of the following obstacles:
Risk
The project itself
Uncertainty
External and internal environment
Company itself
Justify pushing innovation to a higher level. Specifically explain how pushing innovation and technological change to a higher level will affect the company you selected.
Determine the best innovation process to implement based on the innovation motors and obstacles you have identified for the company.
Recommend a strategy the company can implement to create a culture for innovation



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