Explain the following by taking a company specializing in making television sets on Innovation and Design Thinking:

Company: LG Electronics Inc.

1. Discuss with the company selected why innovation so important to compete in television making industry and explain why so many innovation projects in television fail to generate an economic return.

2. Explain in detail the importance of creativity in television set making industry and how creativity can be transformed into innovation to enhance returns on innovation.

3. Explain with respect to company selected why do technologies in television industry improve faster than customer requirements. Explain what are the advantages and disadvantages to a television firm of developing a technology beyond the current state of market needs.

4. Explain in detail with the company selected some of the ways the company can try to increase the overall value of its technology, and its likelihood of becoming the dominant design.

5. Explain in detail with the television company selected the factors influencing optimal timing of innovation launch/entry with respect to competition, customers, value proposition and overall market growth

Include stats and graph and data

each question has 2 paragraphs.