The Organization: - The Organization XYZ International is presently into “app” making business. It has developed various apps based on Android, Windows and iOS. It is a start-up with a management team of 3 people, 2 business analysts, a development team of 10 people and a testing team of 5 people. The apps made by this company are well known in the market. But they need attention of the investors and also of people of age group 18-30 years (the largest app user segment).
The Innovation: - A good innovation of this company for an age group of 18-30 years would be a mobile app which will be an online forum of discussion broadly for two aspects: - 1> Higher Education, and 2> Part-time jobs.
1. In the higher education section, people first need to register with their email …show more content…
Overestimating the Success: We can overestimate the profits of the product while making the future calculations.
Strategic Plan to mitigate such risks:-
1. We must do a thorough research regarding the presence of the product before reaching out to the market.
2. The company must have a good contract agreement signed within the organization, so that, everything must be clear regarding the development of the product.
3. We should always check for the guidelines or the recommendations made by the media channels we are using for the marketing of our product.
4. We must do a good analysis regarding the success of the product and must not over or underestimate anything.
Diffusion Plan: - The diffusion plan for innovation will be as follows-
1. Innovators: We will market this app on various software sites with the link to download.
2. Early Adopters: We will share the download link on various software downloading pages.
3. Early Majority: We will share the download link on various blogging sites and social media pages.
4. Late Majority: We will share the reviews, popularity and press coverage on the website.
Expenses: -
Stages of innovation Skills Required Quantity Salary per person/month
The Innovation: - A good innovation of this company for an age group of 18-30 years would be a mobile app which will be an online forum of discussion broadly for two aspects: - 1> Higher Education, and 2> Part-time jobs.
1. In the higher education section, people first need to register with their email …show more content…
Overestimating the Success: We can overestimate the profits of the product while making the future calculations.
Strategic Plan to mitigate such risks:-
1. We must do a thorough research regarding the presence of the product before reaching out to the market.
2. The company must have a good contract agreement signed within the organization, so that, everything must be clear regarding the development of the product.
3. We should always check for the guidelines or the recommendations made by the media channels we are using for the marketing of our product.
4. We must do a good analysis regarding the success of the product and must not over or underestimate anything.
Diffusion Plan: - The diffusion plan for innovation will be as follows-
1. Innovators: We will market this app on various software sites with the link to download.
2. Early Adopters: We will share the download link on various software downloading pages.
3. Early Majority: We will share the download link on various blogging sites and social media pages.
4. Late Majority: We will share the reviews, popularity and press coverage on the website.
Expenses: -
Stages of innovation Skills Required Quantity Salary per person/month