Innovation Management

Running head: INNOVATION MANAGEMENT
Innovation Management
Name of the Student
Name of the University
Author Note

1INNOVATION MANAGEMENT
Table of Contents
Introduction................................................................................................................................2
Is innovation based on sound engineering, technology, science and management – Is it
feasible?..................................................................................................................................2
If Innovation is feasible - Is it a practical concept?...............................................................3
Is there a market for the product as claimed by the presenter?..............................................3
If market is there – do the people/target consumers have enough purchasing power to buy
the product, are there any cultural social and political issues?..............................................4
Are investors satisfied with distribution strategy, costing, financial and rate of return and
exit plan?................................................................................................................................4
Are you satisfied with the growth and sustainability of the product?....................................4
Is the team selected by the presenter capable enough to carry forward the business and
successfully achieve the business objectives and targets?.....................................................5
Evaluation of the presentation................................................................................................5
Conclusion..................................................................................................................................5
References..................................................................................................................................7

2INNOVATION MANAGEMENT
Introduction
Innovation management is the procedure by which the management of a system and
the innovation of a process is amalgamated with one another and bring about changes in the
usual business structure. That can even be about the production or the manufacturing of a
specific kind of product. In the world of business based on the Information and
Communication Technology, it is extremely important that the innovation process is carried
on from time to time to ensure competitive advantage being added to the business and the
products (Nambisan et al. 2017). Following would be an analysis based on the development
of a product known as the Solar Powered Laptop Skins, which is an innovative product
developed for the laptops and are envisioned to provide better battery backup to the devices.
The feasibility of the innovation will be justified in the report below.
Is innovation based on sound engineering, technology, science and management –
Is it feasible?
The innovation is essentially built up on the aspect of the technology and science with
the prospects of engineering as well. The possibility of the building up of a laptop skin which
is essentially built to provide longer battery backup to the devices are being justified with
this. The idea is based up on the latest battery backup of the laptops that are found to be about
3 hours to a maximum 6 hours in time (Goffin and Mitchell 2016).
The vision for the innovation was viewed to be for the extension of the battery
backups for the laptops that would be powered with the help of the solar skin in case the
battery starts to drain faster, which is an occasional case for the gamers (Frishammar et al.
2019).