Innovation Strategy Report – Identify a Business and the Business Stakeholder – Management Assessment Answer

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Management Assessment Answer
TASK:

Assessment 1 Tasks (I)

You are required to write a 2000 word innovation strategy report to the board of your selected organisation. Your innovation
strategy report must:

Select a business impacted by the advances of ‘design thinking’ movement as described in the paper by Liedtka (2018)
or impacted by the advances of ‘lean startup’ movement as described in the paper by Blank (2013).

Succinctly introduce the selected organisation and selected innovation trend.

Succinctly define the following concepts and their relationships: the organisational environment, innovation trend, innovation
strategy, innovation capabilities, innovation value creation and capture.

Succinctly describe how the creation of an innovation strategy ensures strategic alignment within organisations and why it is
important.

Assessment 1 Tasks (II)

Analyse the impact of the selected innovation trend on the selected organisation. You should apply at least one strategy tool to analyse the impact, opportunities and threats to the organisation. Use the business model canvas by Osterwalder and Pigneur (2010) to support your analysis and argumentation.

Recommend how the organisation’s innovation strategy best responds to the innovation trend by answering the following
questions.

How should the organisation organise its innovation activities?

What additional innovation capabilities should the organisation develop?

What innovation initiatives should it pursue?

How should the organisation ensure that it creates and captures value from the innovation?

Recommend how the organisation best ensures strategic alignment to address the innovation trend.

Assessment 2 Tasks: Business case report (I)

To successfully complete the business case report, you and your
group are required to undertake the following activities:

Activity 1:

In the first few weeks of term, you are required to self-select into and form groups of 3 to 4 students, maximum of 5 students.

On-campus students confirm groups with the assigned lecturer.

Distance students confirm groups via email with the unit coordinator.

This activity is to be completed by week 5.

You will have the opportunity to work on the business case with your group in class from week 6.

Assessment 2 Tasks: Business case report (II)

Activity 2:

To successfully complete the assessment, your group is required to identify a business and the business stakeholder you will be writing the business case for. You might be pitching to an investor or the management of a business. Identify the business and the stakeholder. It can be:

A business that one of the group members is or has been employed at and therefore knows well. It is a very good option
if other members of the group are familiar with a similar business too. It is important that no confidential business
information is included in the business case report.

A business that in the public eye, meaning there is a lot of publicly available information about this business.

If you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.

On-campus groups confirm the selected business with the assigned lecturer. Distance groups confirm the selected business via email with the unit coordinator. This activity is to be completed by week 7.

Assessment 2 Tasks: Business case report (III)

Activity 3:

Identify an innovation that your group believes could be reasonably discussed as the subject of the business case. The innovation you choose should have the potential to be developed sustainably over a commercially viable period of
time. The suggested innovation must not be implemented by the firm yet. It can be an innovation your team come up with yourselves or something you learned about through any media.

Activity 4:

Consider and evaluate the possible business models that could be used to realise the opportunities inherent in the innovation.

Activity 5:

Develop the business case report with appropriate sections. You report must include:

Logical and persuasive articulation of: the problem to be solved; problem insight; portfolio of generated solution ideas; solution selection analysis; targeted customers; value proposition benefits; business model description;
value proposition development and delivery; financial value capture and strategic fit.

Logical and persuasive argumentation in regards to how uncertainty related to customer desirability; technical feasibility; and financial viability is addressed.

A convincing executive summary; clear and succinct purpose described in the introduction; and a clear and succinct conclusion.

Assessment 2 Tasks: Business case report (IV)

Each group is required to demonstrate both scholarly independence and academic integrity in undertaking all steps of the business case development process. Students are required to base their analyses on data that is reasonably and ethically sourced and to use assumptions that can be justified in a commercial setting. Responsibility for structuring, coordinating, and managing processes to finalise the business case lies with each group. Groups are encouraged to work with content beyond Tidd & Bessant (2018) and Osterwalder & Pigneur (2013). Groups must take charge and deliver a business case capable of convincing key or principal stakeholders that a return is assured.

As part of your group work, you are required to provide evidence of your team formation and ongoing teamwork with your business case. The team working evidence should be provided in the appendix, by including team charter and meeting agendas and minutes.

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Management Assessment Answer
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