In the highly competitive automotive market, it is critical to keep up with current technology to stay in or get ahead in the marketplace. To remain competitive, companies must innovate and integrate new technologies within their product lines and services.
You work as a middle manager for one of the top U.S. producers of luxury and mass-market automobiles and trucks.
The chief technology officer (CTO) of the company from the course scenario has been monitoring new technology developments that the company could integrate into its vehicles to enhance the usefulness of and improve access to the data acquired by the many digital sensors integrated into vehicle subsystems over the past 20 to 30 years. The technology trend of particular interest is the internet of things (IoT)the interconnection of embedded devices, such as sensors and computers, over the internet. By taking advantage of this trend, the CTO believes the company can seize an opportunity to provide better service and predictive maintenance to its customers, improving customer satisfaction and adding additional revenue streams.
Based on briefings by the CTO and your Module One memo, senior management has decided to implement IoT into its product line. Your CTO has asked you to lead a cross-functional team to take this initiative forward. Your first task is to create a presentation that will include your recommendation for how the company should approach this business problem: should you use incremental or discontinuous innovation?
Specifically, should the company:
Design a completely new product line, based on the new technology (discontinuous innovation)
Add new technology features first into one model and then incrementally into the broader product line (incremental innovation)
The recommendation you and your team will make is an important first step in pursuing this new technology. Your presentation and recommendations will be reviewed by senior management. Until senior management approves your approach to this innovation, your cross-functional team will not have a budget and will not be able to start work on the innovation. You should utilize your work from the Module Two presentation and data analysis when making and justifying your recommendation in this first milestone. In Milestone Two, you will subsequently develop a go-to-market strategy. For your project in Module Nine, you will compile your work from Milestones One and Two, and include a proposed organizational structure to best integrate, produce, and market the new technology.
Create a PowerPoint presentation to make a recommendation for how the company should pursue the IoT technology to remain competitive: either by discontinuous or incremental innovation. To make your recommendation, you will need to identify how the evolving IoT (sensor) technology fits into the companys products and services and determine potential risks and benefits. You will also need to look at your competitors to see what they are doing. Finally, you need to analyze the companys capability (resources) for pursuing the innovation. Use the information and data from the CTO Brief, Comparative Growth Data, Comparative Operating Statistics, and Comparative Product Plans to complete this milestone.
Explain potential risks and benefits for options A and B.
Overview (1 slide): Present the business problem and options A and B.
Option A (1 slides): Explain at least two potential risks and benefits for option A.
Option B (1 slides): Explain at least two potential risks and benefits for option B.
Compare your competitions products and services.
Competitors (3 slides): Evaluate the competitors current products and services.
What are your competitors current products and services?
Are your competitors expanding in the current market? Explain how this impacts their market strength.
Analyze your companys capability to pursue the innovation.
Complete a partial gap analysis (2 slides):
Does your company own the technology, or does it need to be purchased?
How is the technology currently being used in todays products and services?
What type of technology is available to purchase?
Recommend the innovation approach your company should pursue.
Innovation approach (2 slides): Explain which innovation approach you are recommending and why.
Consider the different stakeholdersresearch and development (R&D), marketing, financewhen communicating your recommendations.
Include a description of the incremental or discontinuous product that you are recommending for R&D.
Include the sales forecasts for marketing.
Include a financial snapshot for finance.
Guidelines for Submission
Submit a 10-slide PowerPoint presentation with detailed speaker notes that highlight the important points you want to emphasize to senior management. If you include references, they should be cited according to APA style.
1. Risks and Benefits:
Explains potential risks and benefits for options A and B
Compares competitions products and services
3. Company Capability:
Analyzes companys capability to pursue the innovation
Recommends the innovation approach the company should pursue
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more