Managing Innovation Networks: Strategies for Change Final

Strategies for Change Final
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Question 1 What are the different challenge to expect in the set-up operating, and sustaining (or closure) stage in managing innovation networks? Give an example of a product or program and the challenges it faced in one of these three areas. 
During the set-up phase, there may be difficulties in defining the project and this affects efficiency. The operating phase is stage where that ensures that the operation is successful, but there are challenges with coordinating activities, conflict management, knowledge management and decisions making. The closure/ set-up phase is the last, where it could be necessary to move on to other aspects of the innovation process when the initial need has been met. The launch of twitter as a social media platform as been successful, but the company has faced challenges how to protect the freedom of speech while dealing with online harassment.Question 2 The author explained that the idea of a lone inventor pioneering his or her way to market success is something of a myth? Do you agree with this statement? Why or why not? Give examples of products or ideas that have been successful to justify your point.
I disagree with the idea of a lone inventor. Even though, inventors may be inspired and influenced by the creations of other people’s inventions, there are lone inventors with their own creative ideas and solutions. At times, the inventions are not commercially successful. The case of Benjamin Franklin who discovered electricity and innovative devices indicates that it is possible to have sole innovators. He also discovered the lighting rod to help houses from catching fire and burning down because of lightning.
Question 3 Explain what it means to be a venture champion? What are some of the factors that influence the decision to establish a new venture? What do we know about the background of individuals who have a propensity to develop new ventures?
The role of venture champions is to drive venture projects even when there are risks and uncertainties. It is necessary to move the projects in a new direction to succeed and manage the transition of operations while integrating the inventors who have the technical capability to get things done. There is a need to find solutions exploring the opportunities and entrepreneurship influence decisions to establish new ventures. It is necessary to find out whether the people who seek to establish a new venture have previous ventures, their entrepreneurial mindset, commitment and their management skills. Question 4 Give an example of a consumer market survey in which the company was able to obtain information to successfully launch a new product. Is there a best way to identify niches? Explain.
Gillette has relied on market surveys and marketing strategies to popularize the Fusion ProGlide razor as an innovative shaving product for men. The company has marketed the product for men less than 40 years of age, based on market survey that this demographic group, who preferred this product being advanced. Even when older men prefer being clean shaven they are not keen on the technology as younger men, highlighting that there are opportuniti...