3–4 page

Task3 

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).