Analyze 3M’s experience for a process-based approach toward innovation

In Milestone One, you recommended an innovation approach (incremental or discontinuous) to integrate IoT into your organization’s product line. Now that senior management has approved your recommendation, your task as a middle manager for one of the top U.S. producers of luxury and mass-market automobiles and trucks is to ensure your recommended innovation approach is implemented effectively and efficiently. In this assignment, you will read a case study and write a report that compares your organization’s innovation processes with 3M’s processes. This report will help your cross-functional team identify your company’s process gaps when implementing IoT in the product line and will help to eliminate potential process inefficiencies.

Directions

Use the information included above in the overview and the 3M: Rethinking Innovation case study and Organization Overview included in the Supporting Materials section to compare your organization with 3M to identify process gaps within your organization.

Specifically, you must address the following rubric criteria:

1. Analyze 3M’s experience for a process-based approach toward innovation.

A. In what ways does 3M manage innovation?

B. What is the innovation strategy and leadership style within 3M?

C. How does 3M enable the innovation process?

2. Identify significant features or processes that promote innovation from the case study.

A. How does the management team within 3M recognize and reward innovative employees?

B. What is the concept and importance of “permission to play” within 3M?

C. How do the 3M attributes of patience and acceptance of mistakes enhance an innovative culture?

3. Compare your company with 3M. You will need to reference the Organization Overview document in the Supporting Materials section when comparing the two companies.

A. What are the key differences between the organizational structures of your company and 3M?

B. How are formal and informal innovation management different?

C. How does the organizational structure in each company affect communication? Why is this important to innovation?

4. Identify the process gaps of your organization. When identifying process gaps, reference the Organization Overview document in the Supporting Materials section.

A. What changes should be made to make the organizational structure support innovation?

B. What rewards could your organization adopt to motivate and encourage innovative behavior?

C. How should your company examine its timeline to identify ways of improving the success of long-term projects?

What to Submit

Submit a 2- to 3-page Word document using 12-point Times New Roman font, double spacing, and one-inch margins. References should be cited according to APA style.

Supporting Materials The following resources support your work on the assignment:

See attached

Overview

In Milestone One, you recommended an innovation approach (incremental or discontinuous) to your organization for implementing IoT into its product line. Now that senior management of your company has approved your recommendation, your task as a middle manager for one of the top U.S. producers of luxury and mass-market automobiles and trucks is to find an efficient process for your cross-functional team to follow during the development of your IoT innovation.

You and your team are considering using Cooper’s stage-gate process for new product development. This is a standard process that shows the journey of an idea from conceptualization to the market. You decide to create a detailed flowchart on one possible process for implementing the innovation approach recommendation you made to share with your cross-functional team.

Directions

Create a PowerPoint presentation with the following requirements, including a detailed flowchart. You may utilize PowerPoint’s online templates or SmartArt features, which will provide you with a variety of chart options to choose from. Ensure the presentation is useful in helping your team understand the stage-gate process.

Specifically, your presentation must address the following rubric criteria:

1. Describe the major elements of the stage-gate process (1–2 slides).

A. How many stages are in the process?

B. What is the purpose of each stage?

2. Create a stage-gate process flowchart (1 slide) using proper shapes for each step in your flowchart.

A. In the flowchart or speaker notes, list an example of an activity at each stage.

B. In the flowchart or speaker notes, list a decision criterion at each stage using your company. Some examples of decision criteria include:

i. Filter ideas to the preliminary investigation

ii. Filter projects to business opportunities

iii. Filter projects to product or process development

iv. Filter products to limited launch

v. Filter products to international marketing

3. Discuss the implications of using the stage-gate process (1–2 slides).

A. When is the use of the stage-gate process most beneficial?

B. How could the stage-gate process slow down innovation?

C. Is the stage-gate process more conducive to an incremental or discontinuous innovation? Explain your reasoning.

What to Submit

Using PowerPoint, create a presentation that is 3 to 5 slides with detailed speaker notes that highlight the important points you want to emphasize to your team. References should be cited in APA format.

2..

Overview

In your role as controller of a division of TransGlobal Airlines, you are responsible for assessing the possible acquisition of the two identified small airlines in the Caribbean specializing in chartered flights for luxury vacations using light aircraft (60 passengers or less).

One of the important steps in this acquisition process is analyzing, understanding, and identifying all the external and internal elements that can affect the organization’s performance, and, as businesses are greatly influenced by their environment, all the situational factors that determine how day-to-day circumstances impact firms. You can assess situational factors by performing a business environment analysis. The analysis entails assessing the level of threat or opportunity these situational factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment. You will use the PESTEL method to perform this analysis.

Prompt

Use the information provided to you in the TransGlobal Airlines Information document to perform a business environment analysis using the PESTEL method. Your task is to analyze the internal and external business environment of TransGlobal Airlines by identifying the impact of each PESTEL factor on the business environment.

Specifically, you must address the following rubric criteria:

1. Identify one political factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

2. Identify one economic factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

3. Identify one sociological factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

4. Identify one technological factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

5. Identify one environmental factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

6. Identify one legal factor that can affect the company’s business environment and explain any potential impact on acquisition strategy.

What to Submit

Submit a 1- to 2-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins.

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