This document answers the questions in a case study and has arguments about what kind of innovation to pursue and why. The answers are linked to the course content andto the contents of the powerpoints and lectures.
1.It would be a very high-risk and high-reward invention since no one has yet made an
innovation like this, a smell-based XR system. Therefore it could either be a big win, which
could result in very big profits or a dramatic loss where the company can potentially lose a lot
of money. The team member could therefore say: ”This invention would cost us too much
and is too risky to implement since no one in our field has yet made the XR system with the
ability to smell. We may not even be able to find a sponsor due to this, and it may therefore
even just be a waste of time and resources to go through with it.”
Additionally, the public may be tough to win over, and it may only be the very tiny
percentage of the 2.5% of “Innovators” that would be interested in trying out and buying this
product. The team member could therefore say: “We are not sure that the public would even
be acceptive of it, since the public has not yet been introduced to this type of product.
Additionally, we may not even be able to gain a significant amount of customers, since only
the risk-taking innovators would be interested in purchasing our product. The majority would
therefore just look away and not be interested in this product.”
Furthermore, some of the team members may be scared of change and say that we have never
done anything like this and that our old ways of producing products could continue to work
as well. They would therefore want to say that there is no need to innovate since how we
have been operating has been functioning very well in the past and that change is simply not
necessary. The team member could therefore say: “We already have a lot of existing products
that are doing really well and that has made our company as popular as it is now. Do we
really want to use our resources to develop something that could potentially not do so well,
and therefore ruin our reputation of making high-quality innovations?”
2. I believe that the second person, Tony Grub, would be most likely to support the AXScents
project and become a sponsor. He is responsible for the Vancouver office’s discretionary
innovation budget, which implies that he would be able to grant me the necessary funding for
my project. This project would certainly need a very big amount of funding, and I, therefore,
value this criterion very highly, otherwise, it may not be possible to follow through with the
innovation due to lack of funds. He also has a good reputation since he has a tendency to
contribute to new R&D and product development projects. This implies that he would likely
be enthusiastic about my innovation and would want to support it in the making. I believe
that enthusiasm and belief in a project is key for it to be successful, otherwise, there can be no
motivation to go on with the project. Although I may not know him that well, I have plenty of
contact alternatives such as Slack and email, and approaching him in real life. Since he also
likes to support new product development projects, I believe he would be very interested in
getting back to me and discussing my innovation with him through the different contact
alternatives. It does not, therefore, matter to me that we are not that close, since I believe that
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