Part 1

Define the term innovation. Then, research what you think is an example of an innovative product or service. Include the following within your discussion:

- What is your product, and why do you feel the product you have selected is innovative within its industry?

- How was the product introduced to the market, and which approach was used - entrepreneurship or intrapreneurship?

- What were the advantages or disadvantages resulting from using the particular approach?

- What were the challenges faced in bringing the innovation to market?

Part 2

Using your previous product example, answer the following:

- What is your product, and why do you feel the product you have selected is innovative within its industry?

- How was the product introduced to the market, and which approach was used - entrepreneurship or intrapreneurship?

- Give a brief description of some advantages, disadvantages, or challenges resulting from using the particular approach?

Part 3

Then, create a scenario that illustrates what might have happened had the following occurred:

- The intrapreneurial product been brought to market through entrepreneurship.

- The entrepreneurial product been brought to market through intrapreneurial means.

- Explain the different risks, skill sets, organizational assets, funding, and keys to success that would have been necessary to accomplish this different approach.