Write the analysis report on Coca Cola company. The following questions are meant to guide the analysis. You do not have to answer every single question, and you may choose to answer a question I didn’t include here. However you go about it, be sure you are being SPECIFIC in your analysis.
Some things you might want to address:
· How important is innovation to your company?
· What kinds of innovation do they seek? Are they successful?
· How do they go about managing the innovation process?
· What sort of problems do they face?
· Does the company engage in corporate entrepreneurship? How?
· How does their corporate entrepreneurship create value?
Attached is a powerpoint of the chapter and here is a website to quizlet with some of the words. Try and incorporate some words from the chapter.
https://quizlet.com/394686388/strategic-management-chapter-12-flash-cards/
A
Slide 1 Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Managing Innovation Innovation: using new knowledge to transform organizational processes or create commercially viable products and services Latest technology Results of experiments Creative insights Competitive information Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Types of Innovation Radical innovation Fundamental changes and breakthroughs Evoke major departures from existing practices Can be highly disruptive Can transform or revolutionize a whole industry Incremental innovation Enhance existing practices Small improvements in products and processes Evolutionary applications within existing paradigms Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Types of Innovation Product innovation Efforts to create product designs Applications of technology to develop new products for end users More radical and common during early stages of an industry’s life cycle Associated with differentiation strategies Process innovations Improving efficiency of an organizational process Manufacturing systems and operations Can improve materials utilization Shorten cycle time Increase quality More likely to occur in later stages of an industry’s life cycle Associated with cost leader strategies Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Challenges of Innovation How are ideas evaluated? How are resources allocated? Who leads the effort? How can we overcome the status quo? “If I’d asked my customers what they wanted, they’d have said ‘A faster horse’” –Henry Ford How do we introduce the innovation? What happens if we fail? Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Corporate Entrepreneurship Culture of entrepreneurship Search for venture opportunities permeates every part of the organization Effect is strongest when it animates all parts of the organization Strategic leaders and the culture generate a strong impetus To innovate Take risks Seek out new venture opportunities Innovation champions Northern Illinois University College of Business Northern Illinois University College of Business Where the Classroom Meets the Business World Limiting the Downside Real options analysis (ROA) is an investment tool from the field of finance. The phrase “real options” applies to situations where options theory and valuation techniques are applied to real assets or physical things as opposed to financial assets. Potential pitfalls include Agency theory and the back-solver dilemma Managerial conceit: overconfidence and the illusion of control Managerial conceit: irrational escalation of commitment