Class Participation Forum Part I Throughout the semester, I will post articles and/or questions related to the course material. The idea is to bring up current issues in society for discussion which...

Running Head: MANAGEMENT
MANAGEMENT 2
MANAGEMENT
1.
It has been observed that lucid is regarded as the next Tesla. The innovation cycle of Lucid is in the last stage as the company is implementing its ideas via its products. Furthermore, Lucid is involved in organizational allies along with its creativity in terms of marshaling the resources. It is one of the most significant stages of the entire innovation cycle and as they are already implementing the ideas so it is a part of the innovation. On the other hand, Lucid also believes in the fact that innovation is not a one-time project but it is something that is associated with continuous activity. For example, the company launched Lucid Air Sedan and it falls under the category of the premium edition of the sedan and due to their extreme innovation, they have surpassed their estimates as well by hitting 520 miles on a full charge. Therefore, it showcases the fact that the company is in the last stage of the innovation cycle (Kay, 2021).
It can be argued that Lucid has enormous ingredients for being successful for instance, attractive products, innovative technology, a clean manufacturing approach as well as excellent management. In a nutshell, Lucid is a super-premium electric car firm. However, it should be noted that the competition concerning the EV market can prove to be quite tough for them because they are a start-up.
2. Open innovation example
In general open innovation is the term that is used widely for promoting a mindset that is different toward the innovation. Furthermore, open innovation is also a business management model for innovation that promotes collaboration with the individual and companies outside the firm (Norcat, 2021).
One of the most prominent examples of a company that is embracing open innovation is Coca-Cola and this company is regarded as one of the greatest firms in the innovation segment. One of the main goals of the company revolves around being the best one in the innovation segment. Furthermore, this firm is also adopting the open...