BUS 402 Strayer University Week 2 Innovation and Strategic Management Discussion

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FuhaO90

Business Finance

Bus 402

Strayer University

BUS

Description

Week 2 Discussion

"Innovation and Strategic Management" Please respond to the following:

  • Discuss the importance of innovation in the survival and success of a business. Next, suggest three (3) strategies that you, as an entrepreneur, can use to encourage creativity and innovation in your small business. Provide support for your response.
  • Analyze a current or former company for which you have worked, and without revealing the name of the organization, identify one (1) step in the strategic planning process that could use more attention in this business. Explain your rationale.

Lastly, respond to at least one (1) post of your peers.


Below is a peer's discussion post in which I'll have to provide a response too.

Shanica Roye

RE: Week 2 Discussion

Innovation is important for any small business because there they want to stay current throughout the years. Building new ideas, providing new products, and learning new technics are all things business should do to please their clients/ customers. For me and my business 3 things i do to be innovated is create a schedule for certain days i want to create new looks, study up on new trends/products, and to not overthinking when i'm in my creating phase. Overthinking is something i'm trying to get better at because before i post what i created i want it to be as perfect as possible but i'm learning sometimes people need to see the flaw to appreciate the work your doing.


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Explanation & Answer

Attached.

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Innovation and Strategic Management
Name
Institution Affiliation
Date

Innovation and Strategic Management

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Innovation and Strategic Management
Innovation is critical to a business's success. Innovation may be used in industry to introduce
innovative methods to reduce money and resources, create new goods, enhance the company’s
facilities, etc. Businesses can replace the overall business method with the help of innovation to
deliver better products and ser...


Anonymous
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