Part 1: discuss the strategy that you developed before executing your plans and steps. You should address the following:
How and why did you choose the CEO or Product Innovation Role? Role is Product Innovation
What was your vision, mission, and core strategy for the Simulation? (Simulation below)
Provide a SWOT analysis of your expectations.
3-4 pages APA format with references
You are Director of Product Innovation within the Research & Development unit of Spectrum Sunglass Company. Spectrum’s immediate future looks bright as the company enters its second decade of operations. Externally, the consumer sunglass market is growing again, and competitive-pricing pressures have subsided. The company recently rehired some of the workers laid off during the last recession, and many departmental budgets have been restored to well-funded, pre-recession levels. You are especially proud that one potential new product design has received positive focus group feedback after the first phase of development, and some exciting branding deals with Hollywood celebrities are under negotiation. Everyone at Spectrum Sunglass is looking forward to growth and enhanced earnings.
While you generally feel very positive regarding the situation at Spectrum, you have noticed that the topic of sustainable economic development and the link between sustainability and innovation is featured in many of the professional articles you read, such as “Why Sustainability Is Now the Key Driver of Innovation.” You are frustrated that you don’t have any new sunglass products to offer to the vocal customers who increasingly express concerns about Spectrum’s environmental impact. Not only does sustainable development make sense to you personally, from both a moral and an economic standpoint, but you also see this as an opportunity to differentiate Spectrum’s products from your competitors, which focus exclusively on design and price.