Overview
Using the recommendation that you provided in Milestone One, you will
develop a strategy to implement the innovation and get ahead in the
marketplace.
Scenario
You work as a middle manager for one of the top U.S. producers of luxury
and mass-market automobiles and trucks. You are now leading a cross-
functional team to move forward with the company initiative. To remain a
viable competitor and meet the demands of consumers’ desire for
technology, the company’s chief technology officer (CTO) has decided to
implement the internet of things (IoT) into its product line.
In Milestone One, you and your cross-functional team looked at risks and
benefits of each innovation option, competitors in the market, and the
company’s internal capability for moving forward with the innovation. After
doing this analysis, you presented your recommendation to various
stakeholders about how to proceed. You chose one of the following:
A. Design a completely new product line, based on the recent
technology (discontinuous innovation)
or
B. Add recent technology features into one model and then
incrementally into the broader product line (incremental innovation)
The CTO has accepted your recommendation. Now you are ready to
develop a strategy for taking the innovation to market. In order to develop a
strategy, you will need to look at your competitors’ relative strengths in the
current marketplace, to understand how the company compares to your
competitors, and to identify the total market and the market’s annual
growth rate. Finally, you also need to share your thoughts on how to
respond to changes in business conditions. Although no one can predict
what is going to happen, it is important to think about how flexible your
plan is in order to meet unexpected conditions.
Prompt
