strategic management

Review the processes of invention and innovation. Then, select a new product that you have been introduced to in the past 12 months. You are encouraged to research this new product using outside sources. You can use the same company you have been researching, or pick a new one.

You are to create a PowerPoint presentation about future inventions this new product could help to inspire and what innovations could be developed to enhance and improve this product. Analyze how these two areas could impact the company. Your PowerPoint presentation should include the following elements:

• Slide 1: Title page
  
• Slide 2: Description of the new product
  
• Slide 3: Description of the importance of R&D to include lead users and market research 
  
• Slide 4: Discussion of appropriate structure and culture within the company necessary to support innovative ideas and products
  
• Slide 5: Exploration of future inventions inspired by the product or analysis of future innovations of this product (Was this a successful invention leading to innovation?)
  
• Slide 6: Prediction of product demand in five years