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MGMT20132 Innovation and Sustainable Business Development || Innovation strategy || Volvo (Automotive Manufacturer)

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This assessment must be completed by students individually. The assessment is designed for students to develop an understanding of the close links between the business environment, business innovation strategy, business capabilities and business value creation. The assessment involves writing a 2000 word innovation strategy report in response to a real case. Select a business impacted by the advances of design thinking movement as described in the paper by Liedtka(2018) orimpacted by the advances oflean startup' movement as described in the paper by Blank(2013)....

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Question Preview:

This assessment must be completed by students individually. The assessment is designed for students to develop an understanding of the close links between the business environment, business innovation strategy, business capabilities and business value creation. The assessment involves writing a 2000 word innovation strategy report in response to a real case. Select a business impacted by the advances of design thinking movement as described in the paper by Liedtka(2018) orimpacted by the advances oflean startup' movement as described in the paper by Blank(2013).

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Solution Preview

In this paper, we will take up the case of Volvo with regards to design thinking technology. Volvo to evolve and become better uses mock tests in place of real things and uses digital product development. Computer printing is replacing drawings, and the aim is to ring innovative strategies to reduce the time for product development, reduce the cost and quality improvements. To beat the competition Volvo has researchers bring in new design innovations with competitive prices.

An innovative strategy is a technique adopted by companies to differentiate and sell their products and services in a competitive market. It is an out of box thinking idea, which increases the value of their product or makes them unique. It is developed by the company to gain mileage over its competitors.

Therefore, to conclude innovative strategy and design thinking, we can say it is a people-oriented approach where product innovation depends on the customer and its experience with the product.

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