Planning Process for Innovation Each weekly written assignment provides content for required sections of your Final Assignment. As noted in the Final Paper Guidelines, yo
Planning Process for Innovation
Each weekly written assignment provides content for required sections of your Final Assignment. As noted in the Final Paper Guidelines, your business should remain consistent throughout the course.
For this assignment, write a three to four-page paper that addresses the following points:
Evaluation of the Firm – McGrath’s and MacMillion’s Twelve Factors of Evaluating Firm
Evaluate your organization, being sure to address six of the twelve McGrath’s and MacMillion’s Twelve Factors:
Demand for the Product
Factors that could speed adoption
Factors that could block success of an Innovation
Likelihood of Strong Competitive Response
Likelihood that the Potential Competitive Advantage is Sustainable
Ability to Create Standards
Cost Factors in Commercialization
Resources Available for Commercialization
Level of novelty of the innovation
Cost considerations in development
Other opportunities that could be leveraged
Potential area where damage might occur
Remember, in addition to technical factors, other factors that could block success of an innovation include legal, ethical, security, diversity, and social responsibility issues of the organization.
Apply the McFarlan & McKenney Strategic Grid Planning Process
The McFarlan & McKenney Strategic Grid Planning Process analyzes the organization’s readiness to implement innovation strategy. McFarlan and McKenney, in 1983, devised a very useful grid for assessing a company’s strategic use of IT (Carboy, 2007).
The grid has four quadrants built around two straight forward questions:
How important does management feel the current IT systems are to the company?
How important does the company think future developments in IT will be required to sustain and enhance its way of doing business (Carboy, 2007)?
Quadrant 1 – Support: Low Current: Low Future Impact. IT has little relevance and simply supports existing processes.
Quadrant 2 – Turnaround: Low Current: High Future Impact. IT will feature more on the business agenda in the future. The company believes that IT will have a major impact on their business model in the future and IT is in a turnaround role i.e. IT will be a key feature of future strategic planning.
Quadrant 3 – Factory: High Current: Low Future Impact. IT is important in terms of day-to-day operations but it is not felt that there are any major IT developments on the horizon that will fundamentally alter the nature of the business. Here, the key issue is the maintenance of existing systems (Factory Role).
Quadrant 4 – Strategic: High Current: High Future Impact. In this quadrant, IT plays a crucial role both in terms of its current role and in terms of how future IT developments are viewed as impacting on the organization. IT is mission critical.
Use your chosen organization for this exercise. Based on your research of the organization’s use of technology and moving forward technology plans, identify which quadrant most appropriately applies to your organization’s readiness to implement innovation strategy (Carboy, 2007).
Identify the McFarlan & McKenney Strategic Grid quadrant that applies best to your organization: Low Current: Low, Future Impact; Low Current: High Future Impact; High Current: Low Future Impact; and High Current: High Future Impact.
Gen-ED > Provide supporting research to justify your analysis conclusion.
Identify 3 examples of your organization’s innovation directions to substantiate your points.
We are a professional custom writing website. If you have searched a question
and bumped into our website just know you are in the right place to get help in your coursework.
Do you handle any type of coursework?
Yes. We have posted over our previous orders to display our experience. Since
we have done this question before, we can also do it for you. To make sure we do
it perfectly, please fill our Order Form. Filling the order form correctly will assist
our team in referencing, specifications and future communication.
Is it hard to Place an Order?
1. Click on the “Place order tab at the top menu or “Order Now” icon at the
bottom and a new page will appear with an order form to be filled.
2. Fill in your paper’s requirements in the "PAPER INFORMATION" section
and click “PRICE CALCULATION” at the bottom to calculate your order
3. Fill in your paper’s academic level, deadline and the required number of
pages from the drop-down menus.
4. Click “FINAL STEP” to enter your registration details and get an account
with us for record keeping and then, click on “PROCEED TO CHECKOUT”
at the bottom of the page.
5. From there, the payment sections will show, follow the guided payment
process and your order will be available for our writing team to work on it.