Identify and Implement Business Innovation - Management Assignment Help

Assignment Task

Completed successfully
Did the student satisfactorily: Comments Y N DNS
The student has satisfactory completed and submitted the following:
Business Innovation Opportunity Report ???Demonstrated ability to:
Investigate information on business markets, customers and methods of doing business
Analyse and compare the current market for the business and the customer base with typical business markets and customers
Analyse and contrast current business relationships, business processes and methods of doing business with other innovative businesses
Investigate business strategies to identify opportunities for innovation and reform
Assess opportunities for their compatibility with business goals and objectives, and conduct a cost-benefit analysis for each
Evaluate the degree of likely change and the ramifications for the business and its culture for each opportunity
Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements
Rank opportunities in terms of their viability and applicability to the organisation
Include opportunities for innovation in the organisation's business strategy and prioritise them for implementation
This is evidenced by:
The Business Innovation Opportunity Report which includes:
Business Situation Analysis performed using a variety of techniques
Research and analysis of industry and markets
Determination of business opportunities based on data and analysis
Risk management and cost/benefits analysis
???Task Outcome: Satisfactory ? Not Yet Satisfactory ?
Student Name:Mary Louise Joyce
Assessor Name:Joseph NaplioAssessor Signature:Joseph NaplioDate:18-7-2021
Table of Content
TOC \o "1-3" \h \z \u Student Declaration PAGEREF _Toc43738346 \h 2Task 2 – Determine opportunities for business innovation PAGEREF _Toc43738347 \h 6Task 2.1 Determine opportunities for business innovation PAGEREF _Toc43738348 \h 9Appendix 1 – ABC Company Profile PAGEREF _Toc43738349 \h 17Appendix 2 – Scenario PAGEREF _Toc43738350 \h 36

Task 2 – Determine opportunities for business innovation
Task summary and instructions
What is this assessment task about? You have been employed as a management consultant for ABC (Appendix 1 and 2).
The company asked you to:
Compare the business with competitor businesses
Identify business opportunities for innovation and reform
Develop a plan to implement opportunities for innovation and reform in the business
Evaluate the implemented opportunities for innovation and reform
In this task, you will have to:
Develop a Business Innovation Report (Task 2)
This task comprises of product-based assessment methods in a simulated work environment.It has been designed to evaluate your ability to:
Investigate information on business markets, customers and methods of doing business
Analyse and compare the current market for the business and the customer base with typical business markets and customers
Analyse and contrast current business relationships, business processes and methods of doing business with other innovative businesses
Investigate business strategies to identify opportunities for innovation and reform
Assess opportunities for their compatibility with business goals and objectives, and conduct a cost-benefit analysis for each
Evaluate the degree of likely change and the ramifications for the business and its culture for each opportunity
Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements
Rank opportunities in terms of their viability and applicability to the organisation
Include opportunities for innovation in the organisation's business strategy and prioritise them for implementation
You are required to address the following:
Task 2.1 Determine opportunities for business innovationPerform a business situation analysis
Determine business opportunities for innovation and reform
Provide recommendations
What do I need to do to complete this task satisfactorily? submit the completed assessment tasks, according to instructions,
complete the tasks with sufficient detail and present them in a professional manner,
use your own words and reference sources appropriately,
meet the word count where required,
use the scenario provided,
use the templates provided where required,
for your performance to be deemed satisfactory in this assessment task you must satisfactorily address all of the assessment criteria,
if part of this task is not satisfactorily completed you will be asked to complete further assessment to demonstrate satisfactory performance.
Specifications You must deliver/participate in:
NA
You must submit to GOALS
Business Innovation Opportunity Report
Resources and equipment Computer with Internet access
Access to Microsoft Office suites or similar software
Learning material
Scenario for assessment document
Relevant policies and procedures provided in a separate folder
Use of the templates included in this assessment document
What will the assessor be looking for? Your assessor will be looking for demonstrated evidence of your ability to:
Perform a business situation analysis
Research and analyse the business landscape
Produce a complex report in a professional manner
Evaluate and select opportunities for innovation and reform based on data and analysis
Re-submission opportunities You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
Procedures
Review the assessment profile and scenario, the business documentation, including policies and procedures and the templates provided:
Appendix 1 – ABC Company Profile
Appendix 2 – Scenario
at the end of this document
Policies and Procedures – provided in separate folder
Templates:
1 – Business Innovation Opportunity Report in Task 2.1
Read Appendix 1 and 2.Develop a Business Innovation Opportunity Report (Template 1) to address the following:
Investigate information on business markets, customers and methods of doing business
Analyse and compare the current market for the business and the customer base with typical business markets and customers
Investigate business strategies to identify opportunities for innovation and reform
Assess opportunities for their compatibility with business goals and objectives, and conduct a cost-benefit analysis for each
Evaluate the degree of likely change and the ramifications for the business and its culture for each opportunity
Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements
Rank opportunities in terms of their viability and applicability to the organisation
Include opportunities for innovation in the organisation's business strategy and prioritise them for implementation.
Complete the following activities:
Task 2.1 Determine opportunities for business innovationRead Appendix 1 and 2.
Develop a Business Innovation Opportunity Report (Template 1) to address the following:
Investigate information on business markets, customers and methods of doing business
Analyse and compare the current market for the business and the customer base with typical business markets and customers
Investigate business strategies to identify opportunities for innovation and reform
Assess opportunities for their compatibility with business goals and objectives, and conduct a cost-benefit analysis for each
Evaluate the degree of likely change and the ramifications for the business and its culture for each opportunity
Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements
Rank opportunities in terms of their viability and applicability to the organisation
Include opportunities for innovation in the organisation's business strategy and prioritise them for implementation. Use the templates provided below and follow the instructions.
Use the template below and follow the instructions.
Template 1 - Business Innovation Opportunity Report
Executive SummaryWrite this section last. This is a summary of what the report addresses. (80-120 words)
Purpose of the ReportBrief statement on the purpose of the report.
The purpose of te report is to improve on te business where it needs more improvement to satisfied the owner .
Business Situation AnalysisCompany OverviewInvestigate the company and provide information about business markets, customers and methods of doing business. Address the following:
Background of the company: industry, history, and an outline of the products and service
Review the company vision, mission, and values (focus on how they influence the way of doing business)
Review the organisational culture (focus on how it impacts the way the do business)
Review the organisational chart (describe it)
Current business market/s (outline of the key markets in which the company operates)
Current customer profile/s (outline the key customer segments)
Current business model (outline)
Current positioning (one sentence that encapsulates the current positioning strategy)
Strategy for competing in the marketplace implemented by the company (refer to Porter's five broader strategies)
Current strategic goals of the company (summary of key points)
(150-200 words )
STEEPLED Analysis - OverviewPerform a STEEPLED analysis with a focus on trends, innovation, constraints, and competitive landscape. Include at least two points of analysis for each STEEPLED category. Be specific (for example, do not just mention tax policy under economic, specify what tax policy you refer to) how it impact abc services affect the business
STEEPLED Analysis
Social Technological Economic Environmental Political Legal Ethical Demographic Industry Analysis – OverviewSummary of an analysis of the specific industry:
General outlook (how is the industry looking: growth rate indicators and challenges)
Changes (significant changes in the last 5 years)
Trends (such as: technological, operational and social trends affecting the industry)
Methods of doing business in the specific industry (business models employed in the industry)
Standards and best practices (most important 3)
Legislation and regulations (relevant to the industry)
(100-150 words)
Market Analysis – OverviewSummary of market analysis. You can use some of the information you have already acquired by performing the STEEPLED analysis and by investigating the specific industry. Undertake additional research on the market in which the company operates. The market analysis uses qualitative and quantitative methods to determine:
A brief description of the market
The size of the market, in volume and value
Customer segments and patterns (such as purchasing behaviours)
Typical products and service offering
Market players (summary of current competitors – note: do not limit your analysis to the competitors mentioned in the Case Study)
Barriers to entering the specific market.
(80-120 words)
Analysis of the Five Forces of Competition – OverviewSummary analysis of:
Rival sellers
Potential (new) entrants
Substitute product
Supplier bargaining power
Customer bargaining power
(30-50 words/category)
Five Forces of Competition
Rival sellers Potential (new) entrants Substitute product Supplier bargaining power Customer bargaining power Comparison
Address the following:
Now that you have acquired a good understanding of the business, its market and its industry, compare and contrast the current market for the business and the customer base, with typical business markets and customers in the industry.
How is the business placed? How does it compare with the current market, with its competitors and what is currently happening in the industry? What is the business doing well? What are the gaps?
Compare and contrast the company against two innovative businesses. The businesses may not be from the same industry; they can be innovative businesses in other industries that can be used as a benchmark to innovate specific parts of the current organisational strategy and operations.
Factors for comparison may be elements that support or prevent innovation, such as:
current business relationships (networking, partnership, relationships with clients)
business processes
methods of doing business
organisational culture
organisational structure
organisational leadership
research and development
(100-150 words)
SWOT Analysis
Perform a SWOT analysis with a focus on factors and issues related to innovation (for example, obsolete processes or technology in use in the company). The SWOT builds on the analysis undertaken for the internal and external business environment in this document. Identify at least 4 factors/section.
SWOT Analysis
Strengths Weaknesses Opportunities Threats Business Opportunities for Innovation and ReformOnce you have gathered a clear understanding of the business and its environment, you are ready to identify opportunities for business innovation and reform.
Complete the sections below.
Business Opportunities for Innovation and ReformReview the business situation analysis performed in this report and identify business opportunities for innovation and reform.
From your list, shortlist three business opportunities for innovation and reform and provide a brief outline of each in the space below. (30-50 words each)
Business Opportunity Outline

This Management Assignment has been solved by our Management 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.