InstructionsImagine you are working for a multinational company, headquartered in the U.S. You were recently hired to lead a newly-established virtual product development division. Your job is to develop new innovations and determine the best markets for deployment. You have been asked to provide a report outlining your strategy to deploy new innovations in both a local and global context.Part 1:Write a report in which you outline your strategy to deploy new innovations in both a local and global context. Be sure to include the following:Include an executive summary as the first page of your report.Identify at least four challenges to deploying new innovations in both a local and global context.Assess at least four barriers to innovation delivery in other countries.Discuss at least four strategies to overcome these challenges.Propose several criteria for new innovations and ideas in order to be considered for global deployment. Be sure to include consideration of beneficial and detrimental effect on society.Remember that sources should provide evidence to support and justify the strategy and proposed criteria.An executive summary is a short section of a document produced for business purposes. It will summarize the points of a longer report or proposal so that readers can rapidly become acquainted with a large body of material without having to read it all.Length: 8-10 pages, not including title page and referencesSupport your paper with at least three scholarly resources.In addition to these specified scholarly resources, utilize two otherappropriate technology or innovation management resources, including industry and popular communications.Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflectscholarly writing and current APA standards. Be sure to adhere to Northcentral Universitys Academic Integrity Policy.Part 2:Once you have completed your paper, create a short 5 to 7-minute PowerPoint presentation with a voice recording embedded into your slides. This should be based off of your paper. Create the presentation as if you were having a conversation with your colleagues trying to convince them of your idea. Be sure to speak clearly, definitively, and concisely to make your points. This recording should touch on each of the primary areas discussed on your paper. In your presentation, be sure to adhere to the five principle aspects of creating a convincing plan.To add a voice recording to your PowerPoint slides, click on the Insert tab and select Audio. You can then record from your computer or upload audio into the slide if you have recorded this on a different device.