Essay about Innovation at Its Best

1760 WordsJan 28, 20138 Pages
Innovation at Its Best ENT-435: Intrapreneurship and Innovation Grand Canyon University December 1, 2012 Innovation at Its Best The need for automobile insurance on all vehicles is not only a necessity but also the law. There are numerous drivers on the roads today that are underinsured or have no insurance to begin with. These facts can be very expensive in the event that a driver is in an automobile accident without insurance. What can be done to ensure that the problem of driving without insurance is rectified or at a minimal? How will the public benefit from investing in the solution to this problem? These are the type of questions reviewed when the Blue Ocean Strategy was chosen in the development of the Driver’s Insurance…show more content…
The first obstacle seemed to come from funding and legislature. Where would the money come from and how much tax credits would a dealer, consumer, or insurance company get and for how long? Various marketing research on biometric fingerprint usage, the smart card readers, pass codes, and smart cars determined the funding for this project. Once the data reflected on the cost to find and fix the flaws that other companies experienced with these items on a stand-alone basis it became apparent the amount of financing needed to complete this venture. When conducting a research report there are 2 approaches that can be used when gathering primary information. The quantitative research approach involves gathering information from a large quantity of people and composing this into a research. The result deduced from the sample is used as a means to portray the general behavior and status of the entire population of that specific area. (Studymode.com, 2011) This took a great amount of research to determine a fair tax credit. The Driver’s Insurance License tax credit is similar to the likes of an energy conservation credit or the smart car tax credit given by the government. Those states that have state income tax would offer a deduction for those participating in the Driver’s Insurance License venture. This is allowing for a substantial savings across the broad for all of those that are involved as long as that feature
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