Part 1: Team Competition: What’s Your Idea? – Medical Industry
Your corporation is sponsoring a competition between the locations of your company for new product ideas. The winning location will be given a substantial bonus and be recognized at the corporate level for innovation. Work with your team to create a new product idea for the business and a plan to develop the new product. The product should include a diversity and inclusion aspect.
In Module 1, you explained the history and principles of operations management. Now your team will write a paper explaining all of your new product ideas for your business, Nanotechnology Solutions, Inc. as well as ideas for improving business processes, innovation, and the new product development process. In this paper, your team will write a plan to manage organizational change so the organization will be ready with a process in place for any product development initiatives. You will identify a new product development process for a business and each team member will offer a potential new product for the business that could be developed in the area you live in and apply it across the markets for the business.
In a 4-6 page paper, include the following:
Explain the process for developing new products or services for Nanotechnology solutions, Inc.
Each member of the team will identify the opportunity and explain the customer’s needs.
As a team, you will generate some product or service concepts and validate the concepts by explaining how each will fulfill the need for the customers.
Describe how to generate a sales forecast and explain how you will deliver the product or service to the customer.
Detail the planning tools to prioritize and help control the development process and identify any potential problems that could derail the effort.
Finally, identify preparation activities needed to help the organization complete the new development process.
The body of the paper will be 4 to 6 pages long (not including the title page and references page) in APA format. The paper should include at least four references.