Imagine yourself as top-manager who has been asked to spearhead an assessment of your company's abilities in the innovation process. Remember that this types of change and innovation efforts usually require multi-level and multiple functional involvement.

YOU are the CEO; this is YOUR chance to tell the board what needs to be done in the areas identified below.

Looking at the internal and external needs, answer the following:

EXTERNAL NEEDS The following must be considered: SIMPLE SPACE Clear target market Market trends SEARCH What Costco should stock in order to meet client need/ wants Competitor strengths and weaknesses New technologies or products introduced by competition The validity and reliability of the measures we are taking Measuring success of ideas and potential for growth SELECT Risks and costs associated with ideas How new idea/innovation will fit into the current business model Innovations from competitors What suppliers expect from us in order to meet targets Needed resources The impact on current operations and customer experience Placement in the overall strategy and contribution to long-term IMPLEMENT success Characteristics of the present and future consumers (gender, occupation, income, etc.) Legal/economic considerations for adopting the innovationINTERNAL NEEDS The following must be considered: SIMPLE SPACE Current capacity to change and innovate Strengths and weaknesses Resourcesr abilities Customer needsfwants Alignment of mission, vision and values with their supply chain Organizational structure and culture Existing processes and procedures Ability to adapt and willingness to take risks Abilities and capabilities of intemal stakeholders, such as employees, managers, and board members. Cost, ROI, and Human Capital and Resources SELECT Potential impact on current functions and operations, customer experience and overall strategy Capability to adopt and adapt Labor constraints resulting in missed production opportunities as well as reduced investment and product development. IMPLEMENT Processing and production of goods and services in a timely manner Customer;r employee! and other stakeholder feedbackfreview