Raising money to invest in innovation is hard. Companies both large and small work to strike a balance between executing an existing business model and thinking ahead to advance their business. As individuals think critically about how their business should move forward, they should first get a 360-degree view of their environment. This journey starts with research on the current state of the business and critical thinking questions that can help leaders drill down deeper.<\/p>\n<\/h2>\n
In this blog post, you will take on the role of the recently-promoted chief innovation officer (CIO) of an established U.S.-based company of your choosing. It is within your responsibilities to discover new ways to improve an existing product or service in North America, <\/span>or<\/em><\/span> <\/span>to introduce a new product or service to the market that will give the company a market edge over competition and fit within the company\u2019s core competencies. For the purposes of this blog post, and for this entire course, you will do the latter.<\/p>\n The new product or service must be something that cannot be easily duplicated and takes into account consumers\u2019 willingness to pay (WTP). If a consumer doesn\u2019t have a problem or need for the product or service offered, they will not be willing to exchange money for the solution.<\/p>\n The first step of such an undertaking requires research and an examination of the selected company\u2019s financials and current resources. Moreover, this new product or service offering must leverage the strengths of the company.<\/p>\n Using <\/span>MarketLine<\/a><\/span>, <\/span>Yahoo Finance<\/a><\/span>, and the investor relations page on the company\u2019s website, select and research an established company of your choice. Specifically, look at the company\u2019s 10K Report with a focus on the company\u2019s business in North America. You will continue to research and work with this company throughout this course in the milestones and project.<\/p>\n