As the founder and owner of an upstart electronics firm, you see the need to dev
ID: 454551 • Letter: A
Question
As the founder and owner of an upstart electronics firm, you see the need to develop a framework for managing innovation and entrepreneurship. Explain:
How you will encourage your employees to think like entrepreneurs.
How you will identify, select, and evaluate potential breakthrough ideas.
Your system for ongoing monitoring and assessment of the external environment.
How you will determine if an idea represents a breakthrough or incremental innovation.
Your checklist of criteria for rating innovative idea.
The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.
Explanation / Answer
Figrst of all the founder has to create his own stratey for lon term opportunity and assume a revolutionary posture rather than a rule maker position.
He must hold brain storming session with his employees to create a participative atmosphere and collect innovative ideas for potential breakthrough. Ealuation of ideas should be again an oint excercise and consensus should be the key for the final list of ideas and their strateic implementation technique. Metrics for customers' satisfaction as well as employees performance should be jointly finalized so that emploees own the ideas and their imlementation process. A scheme of rewards and incentives should be put in place which should be eplicit to all.
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