Assignment on Internal Innovation in Technology

Added on - 21 Apr 2020

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Running head: INTERNAL INNOVATIONDisruptive innovationName of the Student:Name of the University:Author Note:
1INTERNAL INNOVATIONExecutive Summary:The paper delves into the technological innovations which companies bring about to improvetheir modes of operations. It considers the Australian retailer Cotton On to study theinnovations companies can bring about. The paper also delves into concepts like issues andfactors concerning these innovations, which companies face.
2INTERNAL INNOVATIONTable of ContentsExecutive Summary:..................................................................................................................1Introduction:...............................................................................................................................1Outline of the project:................................................................................................................1The new product development and commercialisation:.............................................................2Preparedness of Cotton ON Group for advanced data management and sharing system:.3Market Index:.........................................................................................................................3The innovation index:............................................................................................................3The resource index:................................................................................................................3The strategy index:.................................................................................................................4Explanation on the innovation diamond diagram:.................................................................4Return Risk analysis of the new technological innovation-DSM:.............................................4Commercialisation of technological innovation: some special consideration:..........................7Four key market considerations for commercialising technological innovation:..................7Consider the readiness of the market:................................................................................7Look for premium pricing differences in markets:............................................................7Beware of existing and new market players:.....................................................................8End user and stakeholder consideration:............................................................................8Ability to choose among disruptive technological innovations available:.........................9Definition of disruptive technology:..................................................................................9Find a suitable market:.......................................................................................................9
3INTERNAL INNOVATIONIndividuality of the innovation:..........................................................................................9Locate responsibility of innovation:...........................................................................................9Three critical tests of implementing strategies to implement technological innovations:.....9Four key issues regarding adoption of technological innovation:.......................................10Creating new market space for technological innovations:.................................................10Evaluation of the new project:.................................................................................................10Conclusion:..............................................................................................................................11References:...............................................................................................................................12Appendix:.................................................................................................................................14
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