The purpose of this assignment is for you to think critically about the importance of innovation throughout business life on a global scale.
You will have read in your textbook that Hill addressed the concept of innovation as it relates to global business. He discussed three principles of innovation that have to do with economic growth, the need for a market economy, and the necessity of property ownership.
1. Review the grading rubric.
2. Review what Hill wrote about innovation on the attached pages of the textbook:
o Innovation and Entrepreneurship are the Engines of Growth
o Innovation and Entrepreneurship require a Market Economy
o Innovation and Entrepreneurship require Strong Property Rights
3. Identify a company that you feel is innovative or began as an innovative endeavor. This can be any company that you know about, one that you work for or have worked for, or one that you research to become familiar with.
Note: You must know or have learned enough about the company and its history of innovation or current innovative practices to write about it in this brief and the Follow Up: Innovation Business Brief.
4. Prepare a 2-page brief about innovation with respect to this company:
o Describe how this company is innovative or began as an innovative endeavor.
o Describe what innovation you would now propose for the company and explain your rationale for the proposal you make.
o Describe the implications your proposal would have internationally.
5. Support your work with references to your readings.