Our Services

Get 15% Discount on your First Order

[rank_math_breadcrumb]

Using the recommendation that you provided in Milestone One, you will develop a strategy to implement the innovation and get ahead in the marketplace. Scenario You work as a middle manager for one of

Using the recommendation that you provided in Milestone One, you will develop a strategy to implement the innovation and get ahead in the marketplace.

Scenario

You work as a middle manager for one of the top U.S. producers of luxury and mass-market automobiles and trucks. You are now leading a cross-functional team to move forward with the company initiative. To remain a viable competitor and meet the demands of consumers’ desire for technology, the company’s chief technology officer (CTO) has decided to implement the internet of things (IoT) into its product line.

In Milestone One, you and your cross-functional team looked at risks and benefits of each innovation option, competitors in the market, and the company’s internal capability for moving forward with the innovation. After doing this analysis, you presented your recommendation to various stakeholders about how to proceed. You chose one of the following:

  1. Design a completely new product line, based on the recent technology (discontinuous innovation)

or

  1. Add recent technology features into one model and then incrementally into the broader product line (incremental innovation)

The CTO has accepted your recommendation. Now you are ready to develop a strategy for taking the innovation to market. In order to develop a strategy, you will need to look at your competitors’ relative strengths in the current marketplace, to understand how the company compares to your competitors, and to identify the total market and the market’s annual growth rate. Finally, you also need to share your thoughts on how to respond to changes in business conditions. Although no one can predict what is going to happen, it is important to think about how flexible your plan is in order to meet unexpected conditions.

Prompt

Using the recommendation you provided in Milestone One, develop a strategic plan to implement the innovation and gain competitive advantage. Use the Sales Forecast, Comparative Growth Data and Comparative Operating Statistics to complete this milestone.

Strategic Plan

  1. Analyze the competitors’ relative strengths in the marketplace.
    • Write a short paragraph describing the growth rate of each competitor. You will get the solution from the comparative growth data sheet.
    • How much of the market does each competitor now own? Do you see a trend of gaining or losing market share? Present your findings using Power BI.
      • Perform your analysis for the cars and trucks category. Create pie charts using columns C and F from the comparative growth Excel sheet in Power BI.
      • Perform your analysis for the connected cars and trucks category. Create pie charts using columns H and K from the comparative growth Excel sheet in Power BI.
    • Determine each competitor’s financial strength by looking at their comparative operating data.
  2. Explain how your company’s market share compares to your competitors’.
    • Is your company gaining or losing market share? Expand on the analysis done in Task 1 above and explain the major factors behind the change in market share.
    • What is your company’s growth potential in the industry?
    • How do your company’s financials look compared to your competitors’?
  3. Identify future potential total available market (TAM) and growth for each chosen product/service and technology.
    • What is the TAM for cars and light trucks?
    • What is the TAM for IoT-connected cars and light trucks?
    • What is the projected compound annual growth rate (CAGR) for cars and light trucks?
    • What is the projected CAGR for IoT-connected cars and light trucks?
    • Identify the fastest-growing competitor.
  4. Identify ways to adjust if business conditions change.
    • What can you do if your customers are slow to respond (buy) the innovation?
    • What can you do if one competitor is overtaking all the others, including your company?
  5. Describe the steps your company needs to take from concept outline to launch. Consider your learning from the previous two modules to ensure the steps are easy to understand for your team.
    • What is the size of development that will be required?
    • Will you require additional capital and personnel?
    • How would you approach determining the timeline from the beginning of development until initial product launch?

What to Submit

Strategic PlanSubmit a Word document of 5 pages, devoting 1 page to each critical element described above. Include a graphic using Power BI for competitors’ relative strengths (p. 1). Place the graphic at the top of the page with bullets underneath. Sources should be cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations.

Power BI on VDIAccess VDI using the VDI log-in process. Open Power BI in VDI and access the MBA 580 Comparative Growth Excel sheet. Save your charts as images in the OneDrive folder on VDI. Follow the MBA 580 Power BI User Manual for completing these steps.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Prepare either a 3–4 page report or a 12-slide presentation in which you analyze financial information and risks associated with an investment to expand an organization and make a recommendation on wh

Prepare either a 3–4 page report or a 12-slide presentation in which you analyze financial information and risks associated with an investment to expand an organization and make a recommendation on whether or not to invest in expansion. Collapse AllIntroduction This portfolio work project will help you to not only

REPLIES For all Discussions, each reply must incorporate at least 1 scholarly citation in the current APA format and 1 Biblical principle/verse (Note: for each reply for the Discussion: Disruptive Mar

REPLIESFor all Discussions, each reply must incorporate at least 1 scholarly citation in the current APAformat and 1 Biblical principle/verse (Note: for each reply for the Discussion: DisruptiveMarketing, at least 1 Biblical verse needs to cited, in current APA format, under the BiblicalIntegration subject header). Any sources cited must have

Discussion Thread: Exploring Employee Engagement, Globalization, and Christian Worldview Thread: Specific Reference Requirements For Discussion Thread: Introducing HR and Christian Worldview and Discu

Discussion Thread: Exploring Employee Engagement, Globalization, and Christian Worldview Thread: Specific Reference RequirementsFor Discussion Thread: Introducing HR and Christian Worldview and Discussion Thread: Shapingthe Future of HR, include a references section, and be sure to have in-text citations for thefollowing sources:• At least 2 citations from Valentine: Human Resource Management.•

Discussion Thread: Disruptive Marketing For this module’s discussion, you will summarize your Disruptive Marketing Plan. You would never attach your paper here – but summarize key concepts/learnings.

Discussion Thread: Disruptive Marketing For this module’s discussion, you will summarize your Disruptive Marketing Plan. You would never attach your paper here – but summarize key concepts/learnings. NSTRUCTIONSThe student will post one thread of at least 750 words not to exceed 1,250 words by 11:59 p.m.(ET) on Thursday of the

Virtual Marketing Campaign Simulation This creative assignment measures your mastery of ULOs 3.3 and 4.1. Assignment Overview: In this assignment, you will take on the role of a digital marke

Virtual Marketing Campaign Simulation This creative assignment measures your mastery of ULOs 3.3 and 4.1. Assignment Overview: In this assignment, you will take on the role of a digital marketing manager tasked with creating a comprehensive virtual marketing campaign for a new product or service. The campaign will be designed

Consider that you found an online job posting for your dream job. Practice completing a résumé package that includes a cover letter, a résumé, and a professional strengths, weaknesses, opportunities,

Consider that you found an online job posting for your dream job. Practice completing a résumé package that includes a cover letter, a résumé, and a professional strengths, weaknesses, opportunities, and threats (SWOT) analysis. This résumé package is designed to help you prepare for a future job search. Cover Letter

Discussion Thread: Strategy Development, Strategy Decisions, and Decision Models Developing strategy begins with thinking strategically and knowing what the key decisions are. The decision models that

Discussion Thread: Strategy Development, Strategy Decisions, and Decision ModelsDeveloping strategy begins with thinking strategically and knowing what the key decisions are. Thedecision models that you employ will directly impact the quality of the decisions you make sounderstanding them is critical.Minimum of 500 words in the body.Minimum of 2 sources from

REPLIES: INSTRUCTIONS The student must reply to at least two classmates’ threads by 11:59 p.m. (ET) Sunday of the assigned Module: Week. Your replies must include meaningful and substantive contributi

REPLIES: INSTRUCTIONSThe student must reply to at least two classmates’ threads by 11:59 p.m. (ET) Sunday of theassigned Module: Week. Your replies must include meaningful and substantive contributions tothe discussion, and ideally provoke and challenge the thinking of your colleagues. Each replymust be 200-300 words.Replies: Specific Reference RequirementsFor Discussion Replies:

OVERVIEW The purpose of this research project is for you to create a scholarly piece of graduate-level research and writing, which conforms to current APA format. Competency in the current APA format

OVERVIEW The purpose of this research project is for you to create a scholarly piece of graduate-levelresearch and writing, which conforms to current APA format. Competency in the current APAformat is required of all Business graduates of Liberty University, as set forth by policy of boththe Graduate Faculty and the

Discussion Thread: Introducing HR and Christian Worldview Keller’s big-picture thinking relative to work in God’s world (Chapters 1–4) can be interpreted as follows: Design —God designed humans to wor

Discussion Thread: Introducing HR and Christian Worldview Keller’s big-picture thinking relative to work in God’s world (Chapters 1–4) can be interpreted as follows: Design —God designed humans to work; Dignity —work gives humans dignity; Cultivation —God continues to “create” through the work of humans; Service —humans love God and neighbor

Looking for someone to do my assignment below Write your final research topic paper. (Importance of ethics in Field Acquisition) This outline must follow the preceding format as far as section head

Looking for someone to do my assignment below  Write your final research topic paper. (Importance of ethics in Field Acquisition)  This outline must follow the preceding format as far as section headings. This final paper should be between 8 to 10 pages for the content, not counting the title page or

Looking for someone to do my assignment below You will prepare a distribution improvement strategy for the Hunt Company. Recently, the company began outsourcing its manufacturing to overseas companie

Looking for someone to do my assignment below You will prepare a distribution improvement strategy for the Hunt Company.  Recently, the company began outsourcing its manufacturing to overseas companies.  Due to this recent change, they have suffered various issues and problems with their distribution processes.   Instructions:  Read the Hunt Company case

Prepare either a 3–4 page report or a 12-slide presentation in which you analyze financial information and risks associated with an investment to expand an organization and make a recommendation on wh

Prepare either a 3–4 page report or a 12-slide presentation in which you analyze financial information and risks associated with an investment to expand an organization and make a recommendation on whether or not to invest in expansion. Collapse AllIntroduction This portfolio work project will help you to not only

Prepare 10–12 PowerPoint slides to present a supply chain management plan, including your analysis and recommendations for a supply chain design and logistics, for a provided scenario or a business of

Prepare 10–12 PowerPoint slides to present a supply chain management plan, including your analysis and recommendations for a supply chain design and logistics, for a provided scenario or a business of your choice. Collapse AllIntroduction This portfolio work project, a presentation of a supply chain management plan, will help you

Prepare a 7-page demand management plan, including a forecasting, inventory management, and scheduling analysis, as well as recommendations, for a provided scenario or a business of your choice. Colla

Prepare a 7-page demand management plan, including a forecasting, inventory management, and scheduling analysis, as well as recommendations, for a provided scenario or a business of your choice. Collapse AllIntroduction This portfolio work project, a demand management plan, will help you demonstrate competency in forecasting, inventory management, and scheduling. Scenario