21854 Innovation Creativity And Entrepreneurship - Business Model Analysis - Experiential Open Innovation and Co creation - Business Assessment Answer

21854 Innovation Creativity And Entrepreneurship - Business Model Analysis - Experiential Open Innovation and Co creation - Business Assessment Answer

Assessment Task:

Task

The authors of The Transformative Business Model discuss 40 well known organisations and how their innovative business models might be successful in ‘transforming’ their incumbent industry. The authors’s underlying argument is that innovative business models transform (or disrupt) industries by linking a new or emerging technological capability with market demand. They identify six diverse innovation components or characteristics (such as asset sharing or personalisation) which can achieve this and suggest that the success of a new business model depends on the number of these components or characteristics incorporated. For example, the transformative success of Uber is described in terms of incorporating five of the six components or characteristics in this model.

While we might debate the usefulness of this model, it does provide a starting point to explore business models and business model innovation in depth. Let’s use this as a reflective learning exercise. Imagine that you are asked to prepare a case study to present to your peers on the subject. Your task is to:

1. Briefly explain business model innovation and its significance.

2. Select one organisation from the 40 listed with the exception of Airbnb and Uber (because there is so much available analysis on these organisations). Describe the relevant industry’s traditional business model and means of creating and capturing value. Include an analysis of the trajectory of innovations and their significance in this industry over time. Note that this analysis will include business model innovations and other forms of innovation.

3. Next, explain the innovations in the business model for your selected organisation and analyse how this new business model is able to create and capture superior value.

4. Finally, evaluate the business model’s competitive advantage and likely success and its ability to ‘transform’ the industry

You will assessed as follow:

Industry analysis

- Analysis of the traditional model of creating and capturing value and drivers of innovation, using appropriate references, diagnostic tools and frameworks

New business model analysis

- Analysis of how it creates and captures value, using appropriate references, diagnostic tools and frameworks

- Compare and contrast to traditional mode

Consideration of the business model’s competitive advantage

- Using appropriate references, diagnostic tools and frameworks

Assessment Task 2 – Entrepreneurial Presentation

Background

Our scenario is that you are employees of a large and successful venture capital firm and that each group is pitching to the top team and peers to try and secure funding for their identified opportunity. This could be a new or existing start-up, new piece of technology, an existing business looking to scale.

Task

Identify a promising new venture or investment that will appeal to the top team and your peers. The board will most certainly need to understand the proposal’s wider competitive environment, business model, financial viability and amount of investment required (and corresponding equity on offer).

Assessment Task 3: Final Report – ‘Experiential Open Innovation and Cocreation’

Task

Your task is to participate in an online open innovation platform. You are to participate in the process over the duration of the semester and produce a report and analysis based on your experience, the strengths and weaknesses of these platforms, and open and ‘co-innovation’ more broadly. You are now a researcher.

Your report is to be no more than. You need to demonstrate an understanding of open innovation and co-innovation, document your real participation and engagement, and based on your experience and readings, reflect on the implications for organisations such as firm strategy, performance, idea generation, business models, intellectual property protection etc. It will be important to engage several times over the course of the semester i.e. you can see what the public think of your contributions or follow another participant over time to provide a valuable report on how this process works and its impact.

This Business Assessment has been solved by our Business Assessment Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.