Pearson BTEC Level 5 Higher National Diploma in Business Assignment

Assignment Task

Learning Outcomes

1) Investigate how innovation is sourced and supported within different types of organisations

2) Explore the processing of different types of innovation within organisations

3) Apply the process required to commercialize innovation within an organisation

4) Evaluate the range of methods for protecting innovation within organisations.

Scenario:

The learner is requested to choose two organizations which are innovative and address the questions below, with adequate examples from the chosen organizations that foster innovation. 

Task 1 – Review of Innovation strategies

• Discuss and analyze the ways in which different organizations source and foster innovation, in their environments and cultures, using specific examples.
• Differentiate between different types of innovation and analyse how they are processed within different organization settings citing examples.
• Based on the above discussions, critically analyze how innovation is successfully developed and embedded in different organizational contexts.

Task 2 – Business Case for Innovation:

Scenario:

You have been hired as the Innovation Consultant for the government and have been asked to come up with a commercial solution that will not only enhance the quality of people’s lives but also help generate business. Innovation has become the necessity of most companies to survive and retain competitive advantage. Innovation should be able to give the company USP and also make it sustainable in the long term. The government has advised you to submit a report on any specific area of innovation such as innovation for sustainability or any other area in the public domain where your innovation might be beneficial for the society. 

• Produce a detailed commercially driven business case for innovation that includes an action plan for development and methods for its successful protection in the context of the given scenario. You must include in the action plan areas that discuss plausible risks, benefits and ways to access funding, support it with an evidence-based business case analysis for innovation that emphasizes the business value for potential investment.
• Critically evaluate the different tools that can be used to develop, retain and protect knowledge and intellectual property keeping the given scenario as a frame of reference.

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