MGMT20132 - Innovation And Sustainable Business Development Assignment

Assignment Task

Introduction

The introduction provides the purpose and scope of the report. In this case, you are innovating a solution, product, or service that is new or original. You are developing it for an existing parent organisation.

The big idea

What is your new solution, product, or service big idea?

What is your vision for the new solution, product, or service?

The problem insight and the problem worth solving

What is your key insight about the targeted problem or opportunity?

What is the problem worth solving for the targeted customers?

The targeted customers

Who are the targeted customers?

What is the targeted market segment?

What is the targeted customer profile?

The customer solution

What is the product or service and what are the benefits to the targeted customer segment? 

What are the unique benefits that are better than the competitors you will deliver to your customers?

A novel value proposition is a solution, product, or service that is new or original. Copying an idea or a solution from a competitor is not sufficient. You will have to do something better than the competitor to be successful. However, 100 percent new to the world products or services are rare. You can apply a new idea or twist to an existing product or service to improve it.

The market size and the competition

What is the market size for your new solution, product, or service?

Who are the competitors and important external organizational stakeholders when developing a new solution, product, or service?

Competitive advantage and strategic fit

What core capabilities are you better at when compared to competitors?

Is the proposal compatible with the parent organisation’s strategy?

Assessment of critical business model assumptions and uncertainties

What are important assumptions and uncertainties related to customer desirability, technical feasibility, and financial viability?

Argumentation for the selection of chosen innovation tools

What is the reason you have selected the chosen innovation tools?

Application of the selected innovation tools

This is where you shortly notify the reader about your application of the selected innovation tools. You demonstrate the usage of your chosen innovation tools by mentioning where to find your detailed application details with an appendix number for each tool and technique. Also, see the appendix instructions below.

Candid and critical self-reflection

Candid and critical self-reflection is about reflection on the development of personal innovation capabilities and practices; identification of your own personal strengths and weaknesses; supported with suggestions for self-improvement. This is not about the strengths and weaknesses of the chosen business or organisation. For example, what worked and what would you like to have done differently regarding the selection and the application of the chosen tools, etc.

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