Purpose

This assignment builds on your understanding of innovation by exploring how strategic frameworks, resources, and dynamic capabilities drive successful innovation strategies.

In professional settings, white papers are often used to analyze complex challenges, synthesize key insights, and propose actionable recommendations. By crafting this white paper, you will not only deepen your knowledge of strategic innovation but also practice critical thinking and professional communication skills essential for the workplace.

Task

This white paper analyzes the interplay between resources, strategic decision-making, and adaptability in fostering innovation. Write a 2–3 page report that addresses the following prompts:

Explain the differences between conventional strategic management and innovation strategy, using insights from Chapter 4 of Managing Innovation.

Identify a publicly traded company (not mentioned in the textbook and different from your Unit 1 white paper assignment) that has effectively leveraged tangible and intangible resources to support its innovation strategy. Discuss how these resources contributed to its competitive advantage. Provide specific examples.

Discuss the importance of dynamic capabilities in adapting to uncertainty and achieving long-term growth.

Address the problem faced by the company and provide the solution by developing a visual roadmap illustrating the three stages of innovation strategy: analysis, selection, implementation. Use the Design Tools in Word to create the visual and include it as part of your submission.

Analyze the example with supplemental research from the company’s website (e.g., investor pages, annual reports, sustainability, or impact reports) and at least two external business sources.

 

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