Management of Innovation 301
Digital Report Assessment
5.0 Questions from the CEO
1. You’ve been allocated $10,000 to identify the best way to use this for GroupMap.
What do you recommend and why?
First of all, I would like to improve my product my developing some new product. As
GroupMap has the templates for online group discussion, I would like to improve the
templates and the features on it by using market development strategy. Besides, I will use
the money to market GroupMap’s product by advertising. This is to ensure to outreach
more potential customers in the future as GroupMap’s current users are mostly office
workers or students. Moreover, as GroupMap is mainly focus on technology services, I
would like to improve GroupMap’s knowledge on technology by investing some money
into R&D. This is to make sure our technology will be up-to-date and new product may
be created.
6.0 Conclusion and Recommendations
It is recommended for GroupMap to find more alliance throughout Australia. Like what
Jeremy said, he said that he wanted to collaborate with Canadian distributor. This strategic
alliances can help to let people know more about GroupMap. GroupMap is encouraged to do
more research on IT knowledge. Besides that, GroupMap is also recommended to license
their innovation as it can helps them to gain profit whoever wants to use the technology.
GroupMap is also recommended to create more features on its service such as chatroom for
the discussion of the map. It is also recommended to improve their templates so that users
will find it interesting to use. Lastly, when GroupMap recognize the business opportunity,
they must screen the opportunity to select the successful sources.
CHONG JING TZE (16320341/7E2A9842)
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