Problem:
The CEO of your company, Mr. Gilbert, has just informed you of your first assignment for the development of the new product. He tells you that to fully understand the requirements of the task at hand, you should research innovation and discuss how other companies have used innovation to develop their new revolutionary products. He also explains that your research should be documented and submitted to him in the form of a memo.
Question 1: Define innovation.
Question 2: Define entrepreneurship and intrapreneurship.
Question 3: Compare and contrast entrepreneurship with intrapreneurship.
Question 4: Discuss how other companies have used innovation to develop new revolutionary products.
Question 5: Research one particular company that has used innovation to develop a new product.
Question 6: Explain why the product you selected is innovative within its industry.
Question 7: Explain how the product came to the market.
Question 8: Explain which approach was used in the development of the researched company's product (entrepreneurship or intrapreneurship).
Question 9: Discuss the advantages or disadvantages that have resulted from the particular approach.
Question 10: Discuss the challenges faced in bringing the innovated product to the market.