Description
Assume your organization, or one with which you are familiar, has made a strategic decision to become more innovative.
Identify unknown problems and unmet opportunities before you develop an innovative strategy to address them.
Follow the IBDM five-step roadmap to prepare a 1,400- to 1,750-word proposal in which you apply the steps to the creation of an innovative business product.
Explain the unique nuances of innovative product development as it relates to the IBDM.
Access the Electronic Reserve Readings, University Library, Internet, or additional resources to identify a minimum of two current sources which support your position.
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Running head: PRODUCT INNOVATION PROPOSAL
Product Innovation Proposal
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PRODUCT INNOVATION PROPOSAL
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Product Innovation Proposal
Introduction
Innovation is an execution of significant or the production of advanced product or
service, a new company method, process, or unique marketing method within the practice of the
business. There are various activities which involve innovation such as technology, scientific, or
financial, depending on the goals and the objectives of the company. For the company to engage
in product innovation, the company must have a clear comprehension of the resources, materials,
technologies, and tools at hand. For instance, coca cola company which has made a strategic
decision of inventing on new products. Therefore, this paper will identify the problem and the
unmet opportunities which are related to the coca cola company (Kawabe, 2008). However, it
develops a strategy which is innovative and which will help in addressing the problem. It used an
innovative business design model which is essential in solving put the issues and take them as an
opportunity for the company. Besides, the use of IBDM is sufficient for the creation of an
innovative business product. Therefore, the following is the different steps of IBDM, which
helps the company in finding out problem and opportunity for coca cola to make a strategic
decision and become more innovative. These IBDM strategies are such as assessing the situation,
identifying and defining the problem/ opportunity, creating concept development, prototype
development and the implementation, validation, and refinement.
Coca-Cola is one of the most popular companies which makes soft drinks across the
globe. It makes more than 3500 beverages from diet and regular sparkling beverages. From the
analysis of the company, it is identified as the one which identifies mostly soft drink products,
and it does not engage in the provision of health drink products. This is...
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