You are required to write a 2000 word innovation strategy report to the board of your selected organisation. Your innovation strategy report must: 1. Select a business impacted by the advances of ‘design thinking’ movement as described in the paper by Liedtka(2018) orimpacted by the advances of ‘lean startup’; movement as described in the paper by Blank(2013). 2. Succinctly introduce the selected organisation and selected innovation trend. 3. Succinctly define the following concepts and their relationships: the organisational environment, innovation trend, innovation strategy, innovation capabilities,innovation value creation and capture. 4. Succinctly describe how the creation of an innovation strategy ensures strategic alignment within organisations and why it is important. 5. Analyse the impact of the selected innovation trend on the selected organisation. You should apply at least one strategy tool to analyse the impact, opportunities and threats to the organisation. Use the business model canvas byOsterwalderand Pigneur (2010) to support your analysis and argumentation. 6. Recommend how the organisation’s innovation strategy best responds to the innovation trend by answering the following questions. a)How should the organisation organise its innovation activities? b)What additional innovation capabilities should the organisation develop? c)What innovation initiatives should it pursue? d)How should the organisation ensure that it creates and captures value from the innovation? 7. Recommend how the organisation best ensures strategic alignment to address the innovation trend.
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