Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Unit 6 Team Project-Innovation Collaborative Strategy

Unit 6: Team Project

Introduction

The team can begin with the external or internal influences. Rather than looking at these in a linear fashion, consider both a linear and an interactive approach. To begin, consider the internal influences of resources, funding, and priorities on the outcome. Consider the one-dimensional influence separately and then begin to consider two of the influencers together as a contributor. Does priority influence the funding or resources allocation? If this interaction is present, which it is, how does it affect availability? Answer these questions and you can begin to understand the degree of interrelatedness and complexity needed before reaching a final decision. Think of these influencers, not individually, but in the context of how these interact with one another. To begin, operationally define attributes (characteristics) that consumers (purchasers) will use to evaluate the product. Consider the following general terms.

Definitions

Needs: Ability to meet (satisfy) customer or user needs.

Applicability: A measure of value and use.

Price: Determines sustained profit (ROI) potential.

Availability: Supply and demand issues.

Differentiation: The degree of difference between the product (service) the application replaces or updates.

Newness: Perception (or novelty) of “newness” by the customer or user.

Influence Matrix

Figure 1: Influence Matrix (taken from McLaughlin, G., and Kennedy, W. (2016). Innovation Project Management Handbook, CRC Press, p. 101).

Using this tool (Figure 1), the team identified key “influencers” that could or would affect the decision. Figure 1 lists the Influencing Matrix evaluations with scoring defined. The largest score suggests the influence element that greatly affects how consumers will choose to purchase the product or service.

Instructions: Choose an Influencer Element, determine how much influence this element will have on purchase behavior. The greater the influence, the higher the score. For a score of “1” (parity) suggests that its influence will be essentially the same as the product it is replacing. Lower scores – less influence; higher scores – more influence.

Scoring

Resources Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

Priority Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

Funding/Financial Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

Competitor Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

Availability Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

Customer Appeal Scoring: Low – .25, .5, .75; Medium – 1.0, 1.25; High – 1.50. 1.75. 2.0

These general influencers all affect purchase (use) decisions. Every item is unique, so criteria and scoring will vary. Use a low score when the amount of influence is weak. The authors suggest a value less than parity (1.0). Near parity for moderate influence and greater than parity, the influence is strong. These criteria could easily come from a perceptual survey or focus group. Rather than asking the customer or user what they like, ask them what they need, want, or desire. Ask them to define how they know when they are satisfied and capable of making a decision.

The Influence Matrix considers each influence component and then determines a score based on the criteria (McLaughlin and Kennedy, 2016, p. 99-102).

Directions

For the Innovation Project that the team is working on, create a list of unique attributes and features and complete the Influence Matrix using the Influence Matrix file.

Prepare a 100-page summary of your learnings and findings. Be sure to include the completed excel file with the Word document.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *