Project Scenario:
In your quest to encourage innovation and entrepreneurial behavior in the medium sized medical equipment company you founded five years ago, you see the need to develop specific measures of performance against which innovative products or services can be measured once they are developed
Question: Provide a 1-2 paragraph summary of recent innovations your organization has implemented (may create hypothetical details along with brief research about recent innovations in the field). In essence, what are the innovations? What are the potential benefits of such innovations? What are some of the challenges of the innovations or innovation implementation process?
Proposal of Measures:
Propose how the following financial and non-financial measures will be used to assess and evaluate recent innovations:
- Financial Measures
- Return on investment
- Growth in market share
- Profitability
- Non-financial Measures
- Employee loyalty and commitment
- Breadth of employee participation
- Employee retention
- Employee willingness to change
- Strategic repositioning
- Competitive capabilities
- Potential creation of further breakthroughs
- Number of potential future innovations
Submit your report in a 5- to 6-page Microsoft Word document, using APA style.
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