Business & Finance homework help
Each individual will submit their own idea for an innovation along with a model they find useful for evaluating its merits. Each team member is responsible for completing research on various models. While there are several models in circulation for evaluating innovations, such as The Lean StartUp Plan, NOMMAR, SNIFF, and the linear and mental models of innovation, innovators should not feel constrained by any particular model. Feel free to borrow elements from multiple models to develop one that would work best to most effectively evaluate your own innovation.
Teams will then review all of the submissions and choose the most promising idea to pursue. The idea should be selected by application of one of the evaluation models submitted by team members. You will then write a report of 1,500-2,500 words that describes the team’s selection process and identifies the final choice. The report must contain the following components:
- A one- or two-paragraph summary of each team member’s idea, a description of the model used to evaluate the idea, and the results of the evaluation. Specifically, the evaluation should identify the merits, drawbacks, and challenges associated with the idea.
- Identification of the selected idea for the project accompanied by a description of the model used to evaluate the idea. Include the results of the evaluation, which will serve as the justification for the team’s selection. Preliminarily forecast the most significant challenges that could impede the development of the selected idea.
- A project plan that summarizes the roles or tasks assigned to each team member that must be accomplished to complete Phase 2 of the project due in Module 6.
- In-text citations from at least five reputable secondary sources. Each person on the team must contribute an article from the research that was completed on innovation implementation/evaluation models.