Intraprenuership Plan
Assignment 2: Intrapreneurship PlanBUS-508Assignment 2: Intrapreneurship Plan Raymond James Financial, Inc. (RJF), continues to provide a range of financial services such as investment and financial planning, investment banking, and asset management. Our corporation has to find ways to induce and explore intrapreneurship. We will certainly retain our competitive edge if we tap into our best resource for innovative ideas, our employees (James, 2016). According to Boone & Kurtz, established companies try to retain the entrepreneurial spirit by encouraging their staff to think and develop ideas. Turn those ideas into business opportunities. Today’s fast-changing business climate compels established firms to innovate continually to maintain their competitive advantage (Boone, 2016). In order to exceed our competitive edge, we must develop programs that would fit the needs of our customers. Every family wants to be financially sound. One way to ensure that all members of the family learn good sound financial teaching, is for (RJF) to develop a program that assist all members to learn effectively. The best way to do that is to start early. We should start teaching our kids about financial matters as soon as they show an interest in money. That may be as early as the tooth fairy years and on into young adulthood (Bodnar, 2008).
My team has developed an application that our current customers and new customers can use at their convenience. Our new “RJ’s Kids”, application can be used by parents and grandparents who would like assistance to teach kids and grandkids about saving and investing money. They will love that they have access to the best advice and programs to foster financially sound adults. “RJ’s Kids”, is an interactive program that assist parents in teaching kids how to manage money. It has core lessons that are age specific for all kids. This program increases awareness and education on a financial level. According to Melicher and Norton, Return on Investment measures the gain or loss generated on an investment relative to the amount of money invested. The Return on Investment is invaluable to our company. Our investment is very minimal. When our customers use this app to educate and excite their children to become financially sound, it will set off a series of events that will be passed down from generation to generation. In order for this app model to come to full fruition, we will need to use a member of our IT department personnel and one from the marketing department. Once the app is operable and free of any potential kinks, we will start an aggressive marketing campaign. We will inform our current customers to use the app and fill out a survey. After our customers have sampled the App and submitted all surveys, we will review all surveys. We will adjust our program according to customer input (Melicher & Norton, 2011).