FAU New Approaches to SME and Innovation’s Essay
Innovation is not just a buzzword it should be thought of as a core competency for all organizations, especially in this changing climate. Innovation is more than inventing, but in many ways, it is continuing to reinvent yourself over time. In the literature it has been referred to as a mindset. Many companies spend millions and billions of dollars each year on innovation. If organizations do not exhibit the ability to innovate then they will not be able to compete in this economy. People who set themselves apart are those who can assist organizations gain leverage through being innovative.
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In this assignment you are to choose a company that is nearing closure and recommend a plan that will help them remain viable. Conduct an internet search for companies that have either closed or are in distress.
Write a 2 – 3-page assessment of the company to the CEO and Board of Directors. The goal of the paper is to write an argumentative essay convincing the leaders to keep the company open. The narrative must address the following five topics:
- Name the company and identify the industry.
- Provide some background about the company.
- What are the major issues?
- What innovative strategy do you recommend improving the company’s viability? Why should leaders believe your innovative strategy will work?
- Discuss the relationship between the innovative process and assisting the organization to gain a competitive advantage.