fstorniolo

Course: SGM 3501 – Entrepreneurial & Innovative Thinking
Semester: Spring 2012
Grade received for the below assignment: 95%

Objective: Process / Managerial Innovation (850‐1000 words – not counting diagrams / pictures)

Most people tend to think of products like the iPhone when they think about innovations. However, one
of the key lessons to take away from this class is that innovations take many forms—and these are
frequently much more impactful / valuable than product innovations. For your process / managerial
innovation you will be coming up with a new, innovative way for a company to do something it does
internally. This can either be the way the company produces the service or products that it sells to
consumers (i.e., it can improve a value chain activity by increasing the value created or reducing the cost
to provide value) or it can improve a management practice to enhance a support function in some way.
This should be a different innovation than your product / service innovation but may be a
complimentary process innovation to that other innovation (I don’t want to read the same stuff all over
again so please don’t reuse content). You can also innovate a process at the intersection between two
companies within the industry. In order to do a good job with this you will need to really understand the
inner workings of a company or industry very well so you may need to go talk to a manager of the type
of company you are curious about / want to innovate in.

At a minimum this project should include:

- Describe current process / management system in detail
- Why does current process / management system need to be improved (show an understanding
of the value chain or support activities related to the process you are improving)
- Describe new process / management system in detail
- How does the new process / management system create more value, reduce costs, or make the
system run more effectively and efficiently
- What is the impact of the new process on other parts of the value chain (good and/or bad)
- How can the company make money by implementing this process / management system
- Throughout paper demonstrate sufficient primary and/or secondary research

Submission: Chick here to view a PDF of my submission.