Innovation Approach

Full Answer Section

Slide 3: Option A: Discontinuous Innovation

• Potential Risks:
  • Significant upfront investment
  • Potential for market failure if the new product line is not well-received
  • Risk of cannibalizing existing products
• Potential Benefits:
  • First-mover advantage
  • Opportunity to redefine the market
  • Potential for higher profit margins

Slide 4: Option B: Incremental Innovation

• Potential Risks:
  • Slower time-to-market
  • May not provide a significant competitive advantage
  • Risk of falling behind competitors
• Potential Benefits:
  • Lower upfront investment
  • Reduced risk of market failure
  • Easier integration with existing systems

Slide 5: Competitor Analysis

• Competitor 1:
  • Current product offerings
  • IoT initiatives
  • Market share
• Competitor 2:
  • Current product offerings
  • IoT initiatives
  • Market share
• ...

Slide 6: Competitor Analysis (continued)

• Market Trends:
  • Identify emerging trends in the automotive industry related to IoT
  • Analyze how competitors are responding to these trends

Slide 7: Company Capability Analysis

• Technology Ownership: Does the company own the necessary IoT technology or does it need to be acquired?
• Current Product Integration: How can IoT technology be integrated into existing products and services?
• Available Technology: What IoT technologies are available for purchase?
• Gap Analysis: Identify any gaps in the company's capabilities to pursue IoT innovation.

Slide 8: Recommended Innovation Approach

• Recommendation: Based on the analysis, recommend either discontinuous or incremental innovation.
• Justification: Provide a detailed explanation for your recommendation, considering factors such as market potential, competitive landscape, and company capabilities.

Slide 9: Conclusion

• Summary: Recap the key points of the presentation.
• Next Steps: Outline the next steps for the cross-functional team, such as developing a detailed implementation plan.

Speaker Notes:

• Provide additional context and details for each slide.
• Use the data from the CTO Brief, Comparative Growth Data, Comparative Operating Statistics, and Comparative Product Plans to support your arguments.
• Address any questions or concerns that may arise during the presentation.

Sample Solution

Presentation Outline

Slide 1: Title Slide

• Title: IoT Innovation: A Strategic Roadmap
• Subtitle: Discontinuous vs. Incremental Innovation
• Presenter: Your Name

Slide 2: Business Problem

• Problem Statement: The company needs to integrate IoT technology into its product line to remain competitive.
• Options:
  • Option A: Discontinuous Innovation (completely new product line)
  • Option B: Incremental Innovation (add new features to existing models)