24 Jun WHY IS TECHNOLOGICAL INNOVATION CRITICAL FOR FIRMS TO COMPETE IN ALL INDUSTRIES, EVEN COMMODITIES?
Instructions
Read the short case shown below, respond to the questions, or complete the stated tasks.
Case
You are the Chief Information Officer of the multi-national conglomerate Olisono, Inc. with approximately 70,000 employees worldwide and an average annual profit of $5 billion dollars. Olisono provides a variety of goods and services through its many subsidiaries. It has enjoyed steady, albeit low, growth of 1 – 3% each year over the past 10 years via acquisitions. Through conversations with the CFO, you have come to understand that the growth presented to shareholders is only from the acquisitions and that company profits, year-over-year, have actually declined for the existing businesses.
Write a formal memo to the CEO and justify the need for additional funding and R&D for technology innovation. Make sure you touch upon the following points:
Why is technological innovation critical for firms to compete in all industries, even commodities?
Outline the advantages and disadvantages of technological innovation and provide a comparison to what other firms are doing.
Explain your thoughts on why many innovation projects fail to generate sufficient ROI and how Olisono can avoid these hurdles.
Identify at least 5 potential sources of technology innovation and justify the incorporation of one of those sources into the overall R&D strategy.
What are some risks and milestones of your proposal?
Support your paper with at least two (2) academic peer-reviewed references to support your claims and arguments.
Length: 3 – 5 pages (not including cover page or references)
Format your response as a memorandum to your CEO—not an essay. Keep in mind your audience and purpose. Do not mention any irrelevant conceptual information that a C-level person would not care about. Keep it brief and to the point, but still informative and in keeping with best practices of information security safeguarding. Include an APA-formatted cover sheet and reference page.
Your memorandum should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.
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