Innovation Management - Logitech Assignment Example | Topics and Well Written Essays - 3000 words

Innovation Management - Logitech - Assignment Example over a home network for central control. It is also planning to this for remote reading of the water meters known as â€Å"Smart Metering solutions.† To accomplish this Logitech plans to acquire a small high technology firm with the relevant expertise in the new area. Logitech must be prepared to understand that acquiring a new company will have its own problems and issues which the company will have to face. This report presents the analysis the situation of Logitech that is planning to acquire a company in order to extend its product line. This report analyses the value creation of Logitech as it intends to acquire the company. The second part of the report presents the marketing analysis that also includes the external environment analysis of the company. PEST analysis has been used to analyze the external environment of the company. The third part of the report analyses how proper and appropriate innovation management can help the organization in making this change a succe ssful one. The fourth part of the report discusses the role of strategic leadership and what role the leaders can play in formulating strategies and in making sure that the change is successful. Then the report leads to the conclusion. PART I - VALUE CREATION Existing Line Of Products Logitech is a very prominent name in the field of electronics. It has a variety of products to cherish its product line such as: Tablet Accessories From headphones to keyboards Mice & Keyboard Combos HD Webcams which outperform embedded cameras and enable face-to-face meetings Headsets compatible with PCs, Macs and most UC platforms. Multimedia speakers with a variety of range of sizes and styles. Presentation Devices Gaming & Security System Logitech’s product line consists of the following home monitoring and security items also bear a wide variety of product which are all top of the line. These consist of Master Systems Add-on Cameras Premium Services Accessories Bundle Builders Busted Videos Product Proposal Logitech is planning to extend its product line by entering the new sci-tech product arena. It plans to acquire a small high technology firm with the expertise in this area in order to do so. This decision will surely benefit the company a lot. Besides the endless benefits the company will have to consider that the costs of operations will increase. Logitech by acquiring such a company will take responsibility of the existing product line of the company too. Engaging with the new company will increase the responsibility of Logitech. This acquisition will show that Logitech will be the one responsible for that companies product decisions. If that company fails to deliver any sort of perfection in its own existing product line, Logitech name will also be on stake. Smart Metering Solution The acquisition of a whole new company is intended for the product line in which Logitech plans to penetrate. This is a new product to ensure complete solution from home related issu es. This product will help measure the water consumption of the individuals of the house. This is a very important device because water has become a rare commodity these days. To ensure the least wastage of resources and the efficient monitoring of the usage of water, this device will prove to be very useful. Competitors There are already a few companies which are working and producing smart meters. These companies would prove to be the