B what value is added by this process this question

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b. What value is added by this process? This question is asked particularly in the context of value to the customer. c. How can this work be done better? iii. Pursuing process innovation—Firms should be on the lookout for process innovation opportunities. But they should also be aware that most process innovations require social as well as work design changes. VI. Innovation Planning Process – Applicable to product and process innovation a. Common Aspects to the Planning Process 3-5
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i. The firm must acknowledge that the goal of internal innovation is for the firm to better performance. Innovation in itself is not the end goal. ii. Internal innovation is a process that involves many individuals, capabilities, and resources from all business functions. iii. Resources are critical to the innovation process. b. Activities for Innovation Planning (see figures 3.2 and 3.3) i. Determine the Vision This is an understanding of where the firm wants to go and what role technology plays. ii. Set the Mission A brief statement that describes what the firm will do and how it will do it. Employees must “buy into “ the mission statement for it to be effective. iii. Establish Goals and Objectives Goals and objectives are realistic, timely, measurable targets, which if achieved will support the corporate mission Goals and objectives will contain the product and process innovation the firm wishes to accomplish in both the long and short run. Goals and objectives will guide the firm in the allocation of resources and setting of priorities. iv. Set Strategy Different strategies are set for different levels of the firm. For example, in a multi-business organization, strategy levels include: o Corporate strategies that govern which businesses the firm will be involved in and how technology will influence these businesses. o Business strategies which outline the strategy each business will use to accomplish its technology goals. 3-6
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o Operational strategies that describe how businesses shall prepare for, implement and control new technologies. v. Specify Tactics and Actions These are the behaviors of individuals within the firm’s business that support the achievement of goals, and objectives. These behaviors are specified in plan of action documents. VII. Application of the Planning Process—IBMs five key characteristics a. Ensuring that the identification of strategic issues focused outward on economic and technology issues rather than on internal concerns. The innovation must have some market potential or effect. b. Ensuring that strategic planners focused on the critical implications, risks, and trade-offs inherent in strategic alternatives. Leave biases out of the analysis phase. c. Structuring an ongoing process for executives to examine strategic challenges and opportunities. Plan to plan for the future not just analyze what is going on now.
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  • Fall '19
  • a. product innovation

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