Planning Process for Innovation

**Note** This is going to be a 5 part assignment. I will attach the previous week writings for reference as we advance. **Note**

For this assignment, write a four to five-page paper that addresses the following points:

  • Evaluation of the Firm – McGrath?s and MacMillion?s Twelve Factors of Evaluating Firm

Evaluate your organization, being sure to address six of the twelve McGrath?s and MacMillion?s Twelve Factors:

  • Demand for the Product
  • Factors that could speed adoption
  • Factors that could block success of an Innovation
  • Likelihood of Strong Competitive Response
  • Likelihood that the Potential Competitive Advantage is Sustainable
  • Ability to Create Standards
  • Cost Factors in Commercialization
  • Resources Available for Commercialization
  • Level of novelty of the innovation
  • Cost considerations in development
  • Other opportunities that could be leveraged
  • Potential area where damage might occur

Remember, in addition to technical
factors, other factors that could block success of an innovation include
legal, ethical, security, diversity, and social responsibility issues
of the organization.

  • Apply the McFarlan & McKenney Strategic Grid Planning Process

The McFarlan & McKenney Strategic
Grid Planning Process analyzes the organization?s readiness to implement
innovation strategy. McFarlan and McKenney, in 1983, devised a very
useful grid for assessing a company?s strategic use of IT (Carboy,
2007).

The grid has four quadrants built around two straight forward questions:

  • How important does management feel the current IT systems are to the company?
  • How important does the company think future developments in IT will
    be required to sustain and enhance its way of doing business (Carboy,
    2007)?

wk_2_mcfarlan_and_mckenney_strategic_grid.jpg

Definitions of each quadrant are:

  • Quadrant 1: Low Current: Low Future Impact. IT has little relevance and simply supports existing processes.
  • Quadrant 2: Low Current: High Future Impact. IT will
    feature more on the business agenda in the future. The company believes
    that IT will have a major impact on their business model in the future
    and IT is in a turnaround role i.e. IT will be a key feature of future
    strategic planning.
  • Quadrant 3: High Current: Low Future Impact. IT is
    important in terms of day-to-day operations but it is not felt that
    there are any major IT developments on the horizon that will
    fundamentally alter the nature of the business. Here, the key issue is
    the maintenance of existing systems (Factory Role).
  • Quadrant 4: High Current: High Future Impact. In this
    quadrant, IT plays a crucial role both in terms of its current role and
    in terms of how future IT developments are viewed as impacting on the
    organization. IT is mission critical.

Use your chosen organization for this
exercise. Based on your research of the organization?s use of
technology and moving forward technology plans, identify which quadrant
most appropriately applies to your organization?s readiness to implement
innovation strategy (Carboy, 2007).

  • Identify the McFarlan & McKenney Strategic Grid quadrant that applies best to your organization: Low Current: Low
    Future Impact; Low Current: High Future Impact; High Current: Low Future Impact; and High Current: High Future Impact
  • Gen-ED > Provide supporting research to justify your analysis conclusion.
  • Identify 3 examples of your organization?s innovation directions to substantiate your points

Your business should remain consistent throughout the course.

The Planning Process for Innovation assignment

  • Must be four – five double-spaced pages in length (not including
    title and references pages) and formatted according to APA style
  • Must include a separate title page with the following:
    • Title of paper
    • Student?s name
    • Course name and number
    • Instructor?s name
    • Date submitted
  • Must use at least three scholarly sources in addition to the course text.
  • Must document all sources in APA style
  • Must include a separate references page that is formatted according to APA style

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