You will choose the company (or type of company) and create a narrative for the specific problem the business is facing. This could be a company where you have worked or with which you are familiar, or you can locate an example of a company and use it as the basis for your narrative. For example, you might select a larger company that needs to figure out a way to reach more customers since most of its local business has been temporarily halted, or perhaps you will choose a small business that operates locally and offers a product or service that is currently not relevant to the marketâ??s needs.

Part 1: Laying the Foundation for Innovation

• Synthesize the business problem. Specifically:
  • Describe the company in question, including how many people work there, the industry the company is part of, and what types of products and/or services the business offers.
  • Explain the business problem, including what impacts the global crisis is having on how the business operates and its ability to meet customer needs and deliver its product(s)/service(s).
  • Identify the companyâ??s present internal strengths and weaknesses, as well as external opportunities and threats that the current crisis is presenting to the company.
• Appraise the companyâ??s readiness to innovate, including how well the organization is set up to tolerate risk.

Part 2: Considering Stakeholder Needs

• Identify the stakeholders whose needs you will have to consider when designing potential solutions.
• Create a prioritized list of stakeholder needs (based on your knowledge of the company or your imagining of the stakeholders you identified) you will have to take into consideration when developing potential solutions.
  • Based on the identified business problem, what are the greatest points of need? What might be the leadersâ?? and employeesâ?? most pressing concerns?
  • What are other needs to consider that are a lower priority but still significant enough to note?
• Assess what, if any, considerations will need to be made to promote stakeholder buy-in.
  • Are company leaders open or resistant to change? What is your prediction for any challenges you may encounter in the face of changes?
  • What recommendations do you have for how to gain buy-in and minimize risk?