As an aspiring innovation lead, your role is to bridge creativity and strategy. You are responsible for crafting a compelling proposal that:

· Aligns with the organization’s goals.

· Demonstrates the practical application of your idea.

· Secures buy-in from senior leadership or stakeholders.

Develop a 3–4 page proposal for an innovation concept based on your work in the Unit 3 Discussion. You may select an idea you generated or one you helped refine in a peer’s post. Your proposal will serve as a key deliverable, show-casing the feasibility and strategic value of your chosen concept. Ensure your proposal includes the following components:

· Introduction

· Describe the organization, the idea, and the user group it serves.

· Explain why this idea is important and how it addresses a significant pain point or unmet need.

· Classification Using the 4Ps. Classify your innovation as product, process, position, or paradigm and explain your reasoning.

· Evaluation of Feasibility and Impact

· Assess the feasibility of your idea in terms of resources, technology, or implementation.

· Evaluate its potential impact on users and the organization.

· Discuss how open innovation strategies (e.g., partnerships, external networks, or knowledge flows) could enhance the concept’s feasibility or implementation.

· Corporate Entrepreneurship. Discuss how this concept could be championed within an organization. Address leadership, culture, and resource allocation needed for success.

· Innovative Capabilities. Identify the innovative capabilities required to implement the concept and explain how the organization could develop or source them.

· Metrics for Success. Propose at least three measurable outcomes to evaluate the success of the innovation.

· Support Your Proposal. Use insights from the course readings and at least two external business sources.

Resources

· Unit 3 Discussion

· Chapters 11 and 12 from Managing Innovation.

· 4Ps Innovation Compass and Identifying Innovative Capabilities resources.

· Company websites (e.g., About Us, Investor pages, Sustainability Reports).

· Annual reports if available (10K filings for publicly traded companies).

· Business news outlets or databases (e.g., Bloomberg, HBR, McKinsey Insights).

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