Developing innovative new products and services is expensive, time-consuming, and extremely risky. Most studies have indicated that the majority of development projects fail. Firms need to make difficult choices about which projects are worth the investment and which of those projects are pursued with a rigorous and well-thought-out development process.
Outline an innovation project by creating a 750- to 1,050-word business case.
Identify a company of your choice and an idea for an innovative design project that it can develop.
Note: Be mindful of the organization and the project you select, because you will continue your work and research for this same project by developing an implementation plan in Wks 5 and 6.
Complete the Innovative Business Case Template or conduct research to find a template of your own.