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MBA 580 1-3 Memo Integration of Innovation

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1-3 Memo Integration of Innovation
Trevor Costello
Southern New Hampshire University
MBA-580-Q4819 Innov/Strat High-Perform Orgs
March 27, 2022
Purchasers are always looking for the cool or next best thing in the market. They are
more informed and with the availability to use search engines such as Bing or Google, they can

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easily research features and gadgets of vehicles. Safety is one of the many features that are of
concern due to the increase in accidents and fatalities year by year. The driving experience will
be safer with IoT installed in our vehicles because it will give drivers access to in-depth reporting
when it comes to road conditions, traffic, driving behaviors, and a vehicle diagnostic. The
utilization of sensors is a big selling point because a multi-sensor setup can help reduce human
error which is a major factor in most car accidents. This will allow better reaction and response
time when needed. “A car's many software-reliant components can be updated "over the air" in
due to IoT-connectivity” (Gossett, 2019). In 2020, Statista reported that there are about 229
million licensed drivers in the U.S. alone (Carlier, 2022) meaning the size of the market is
adequate to see this market pounce on the IoT.
There are some competitors in the market already, several car companies are rolling out
their newest technological features, and some even self-driving cars. Our main competitors are
BMW, VW, and Toyota. BMW fully equip their cars with information connectivity and plan on
manufacturing fully autonomous driving vehicles in the next few years. Toyota is also looking to
make a dent in the market with its partnership with Aurora, a company that specializes in self-
driving innovations, to start test driving the self-driving Sienna in the middle of Q4 of this year
(Hirsch, 2021). Our current market share is 3% less than the leaders in the industry. Our growth
projection for connected cars is 10.2%less than the industry at large. We must speed up our
innovation or risk losing market share. We can take a share in the market if we focus on our
customer base, what they like, and what works for them. Also, by seeing the technology that is
already out there, we can see where we can improve upon it and find a competitive edge.
Considering that our current models already have sensors, adding more sensors will help
with increasing the value of the cars and maintaining our place in the market if not increasing it.

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1 1-3 Memo Integration of Innovation Trevor Costello Southern New Hampshire University MBA-580-Q4819 Innov/Strat High-Perform Orgs March 27, 2022 Purchasers are always looking for the cool or next best thing in the market. They are more informed and with the availability to use search engines such as Bing or Google, they can 2 easily research features and gadgets of vehicles. Safety is one of the many features that are of concern due to the increase in accidents and fatalities year by year. The driving experience will be safer with IoT installed in our vehicles because it will give drivers access to in-depth reporting when it comes to road conditions, traffic, driving behaviors, and a vehicle diagnostic. The utilization of sensors is a big selling point because a multi-sensor setup can help reduce human error which is a major factor in most car accidents. This will allow better reaction and response time when needed. “A car's many software-reliant components can be updated "over the air" in due to IoT-connectivity” (Gossett, 2019). In 2020, Statista reported that there are about 229 million licensed drivers in the U.S. alone (Carlier, 2022) meaning the size of the market i ...
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