Managing and Developing Innovations

Running head: MANAGING AND DEVELOPING INNOVATIONS
Managing and Developing Innovations
Name of the Student:
Name of the University:
Author’s Note:

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MANAGING AND DEVELOPING INNOVATIONS
Table of Contents
Introduction......................................................................................................................................2
Team................................................................................................................................................3
Market Research..............................................................................................................................3
Target Market..................................................................................................................................4
Market Strategy...............................................................................................................................5
Distribution Channel........................................................................................................................6
Grants and other supports................................................................................................................6
Competitors......................................................................................................................................6
Competitive Advantage...................................................................................................................7
Assumptions....................................................................................................................................7
Financial Data..................................................................................................................................7
Breakeven Analysis.........................................................................................................................9
Growth Potential and Sustainability................................................................................................9
Exit Strategy....................................................................................................................................9
Conclusion.....................................................................................................................................10
Bibliography..................................................................................................................................11

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MANAGING AND DEVELOPING INNOVATIONS
Introduction
This report has been prepared in order to explain the address the problems related to the
centering of the blast furnace and the products that can be utilised in order to undertake the same.
It is seen that there are several ways centering of the blast furnace can be done and it is the
operational process of the company as well as the management to decide which of the products
can be used for the purpose of doing the same.
It is seen that the problem is related to the centering of the blast furnace and this process
three significant threats and challenges and they are known to be increased level of expenses,
high and expensive cost of maintenance and increased level of wear and tear. The tool is known
to be in the form of a conical shape and this shape makes the tool very much vulnerable to the
wears and tears as the tool can take up pressures up to 5.4*10^10 Pascals.
However, the product that has been taken into consideration has been a centering tool
with a transformation in the internal design and shape of the apparatus so that the life cycle of the
apparatus becomes longer without having an impact on the rate of the material flow.
The product that has been proposed has increased amount of resistance toward the wear
and tear for a high period because of its shape of their lower segment of the apparatus is altered
from the conical form to a cylindrical form.
Furthermore, the stress focus on the product will be distributed unevenly in such a
manner that it would not deviate the flow of the material and the reason for damage to the other
parts.

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MANAGING AND DEVELOPING INNOVATIONS
Team
The team that is associated to this process is as follows:
Somasekhar Donavalli: He has masters in the mechanical design and is even an experienced
design engineer in the simulation and modelling.
Swaroop: He is masters in advanced manufacturing and is even a trained engineer in the line of
the production of the automobile parts.
Chatainya: He has a degree of MBA in the field of marketing and has been working in this field
for almost 10 years.
Mrudala: MBA in finance and is even a well established Chartered Accountant in India.
Richard: He is masters in business accounting and has the work of a analyst who assesses the
market and develops the business.
Swetha: Masers in information technology and therefore has effective amount of skills and
experiences in the line of IT.
Market Research
The research that was undertaken by the World Steel Association, the industries
associated with the production of steel was US $754 billion in the year 2015 and forecasted to
reach US $866 billion by the end of 2020. The graph that is provided below explains the
investments that have been made in the upgradation of the plants.