there are two innovation trends ( lean start-up and design thinking), you have to choose one of these to apply on any of the given company.
Assessment Overview This assessment must be completed by students individually. The assessment is designed for students to develop understanding of the close links between the business environment, business innovation strategy, business capabilities and business value creation. The assessment involves writing a 2000 word innovation strategy report in response to a real case. Please note that academic misconduct and late submission penalties will apply to this assessment as per the university policies. Assessment Guidance Assessment 1 student guide (link). Short report format (link) Further assessment guidance will be provided here. As we progress in the unit, the unit coordinator will add advice here in response to student questions and discussions. You are encouraged to ask questions and contribute to discussions in class and to create posts on the website discussion forum. Feel free to discuss your assessment ideas in the unit discussion forum, before you complete and submit the assessment. Assessment Context Generally, innovation initiatives within a parent organisation are driven by an innovation strategy. An innovation strategy is a subset of an organisation’s overall strategy. The innovation strategy describes the future development an organisation’s innovation capabilities and the future direction of its innovation activities. An organisation’s innovation strategy does not exist in a vacuum, it responds to a specific set of circumstances including innovation trends and provides an important context; direction; guidance; monitoring and facilitation of an organisation’s innovation initiatives. Thus, organisations take care to diagnose the organisation’s circumstances including innovation trends to inform the design and development of its innovation strategy. Select one of the following organisations impacted by the advances of 'design thinking' or 'lean start-up' social technology: · Firm: · Alipay (online payment platform). · Amazon (online shopping). · Cochlear (hearing implant). · Commbank (finance and banking). · Ikea (furniture manufacturer). · Volvo Group (trucks - automotive manufacturer). · Volvo Cars (cars - automotive manufacturer). · Note added: Please be aware that Volvo is actually two different companies. Volvo Group manufactures trucks and other heavy equipment. Volvo cars produces automobiles such as sedans for personal transport. Unfortunately, the two companies share the same name. Make sure you pick one or the other. · A business startup project that you are passionate about. · Government, not-for-profit, social innovation: · CQUniversity (university education provider). · Australian State Health (select a health care provider in Australia). · A social innovation project that you are passionate about. · A firm or organisation that you are or have been employed at and therefore know well. It is important that no confidential information is included in the submitted report. · If you suggest a firm or organisation other than the ones above, you will need approval from your assigned lecturer. Select one of the following innovation trends: · Design thinking (Liedtka, 2018; Liedtka & Ogilvie, 2011). · Lean Startup (Blank, 2013; Cooper & Vlaskovits, 2016). Ideally, your selected innovation trend is important to the selected firm or organisation as that makes the innovation strategy report important to its senior executives, the report interesting to read and the report writing exciting. Assessment References Blank, S. (2013). Why the lean start-up changes everything. Harvard Business Review, 91(5), 63-72. Cooper, B., & Vlaskovits, P. (2013). The lean entrepreneur: How visionaries create products, innovate with new ventures, and disrupt markets(Second ed.). Hoboken, New Jersey: Wiley. Liedtka, J. (2018). Why Design Thinking works: It addresses the biases and behaviors that hamper innovation, Harvard Business Review, 96 (5): 72-79. Liedtka, J & Ogilvie T. (2011). Designing for growth: a design thinking toolkit for managers. New York: Colombia Business School Publishing. Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Hoboken, New Jersey: Wiley. Assessment Tasks You are required to write a 2000 word innovation strategy report to the board of your selected organisation. Your innovation strategy report must: 1. 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). 2. Succinctly introduce the selected organisation and selected innovation trend. 3. Succinctly define the following concepts and their relationships: the organisational environment, innovation trend, innovation strategy, innovation capabilities, innovation value creation and capture. 4. Succinctly describe how the creation of an innovation strategy ensures strategic alignment within organisations and why it is important. 5. 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. 6. 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? 7. Recommend how the organisation best ensures strategic alignment to address the innovation trend. Assessment Criteria Your report will be assessed according to the following criteria. Your report must demonstrate: 1. Thorough understanding of relevant innovation management concepts, principles, theories, tools and models in regards to the assessment tasks. 60% 2. Appropriate and well structured, concise and clear expression of innovation management arguments. 10% 3. Clear flow of thought throughout the report with a clear and succinct purpose described in the introduction and a clear and succinct conclusion. 10% 4. Critical review skills and integration of relevant academic and profession literature. A minimum of five (5) academic journals must be used. 10% 5. Appropriate in text referencing and reference list. Adherence to CQUniversity APA Reference Style. 5% 6. Clarity of expression, grammar and spelling. Appropriate report format within (±10%) of the word limit: 2000 words. 5% 1 MGMT20132 Innovation and Sustainable Business development - Assessment 1 - Marking Rubric Criteria 6 (Excellent) 5 (Very Good) 4 (Good) 3 (Satisfactory) 2 (Unsatisfactory) 1 (Poor) 0 (Not Shown) Thorough understanding of relevant innovation management concepts, principles, theories, tools and models in regards to the assessment tasks. 60% weight All key issues expertly identified and canvassed. Superior ability to reason logically and impartially from gathered information and reach reliable and trustworthy conclusions. Highly proficient and scholarly use of a wide range of relevant sources of knowledge and data. Scholarly application of relevant principles, concepts, methods and theories relevant to the set task. Most key issues identified. Ability to reason logically and impartially from gathered information and reach reliable and trustworthy conclusions. Scholarly use of a wide range of sources of knowledge. Competent application of relevant principles, concepts, methods and theories relevant to the set task. An acceptable number of issues identified. Reasons logically, skilfully and impartially from gathered information and reaches logical conclusions. Good use of a range of sources of knowledge. Application of principles, concepts, methods and theories relevant to the set task. Some key issues identified. Reasons logically from gathered information and reaches logical conclusions. Good use of sources of knowledge. Application of some principles, concepts, methods and theories relevant to the set task. Few key issues identified. Critical analysis below standard. Insufficient use of sources of knowledge. Some application of principles, concepts, methods and theories relevant to the set task. No key issues identified. Critical analysis not evident. Limited use of sources of knowledge. Limited application of principles, concepts, methods and theories relevant to the set task. Non-existent or entirely irrelevant or incomprehensible. Appropriate and well- structured, concise and clear expression of innovation management arguments. 10% weight Well-structured and concise written logical arguments. Arguments are developed in a scholarly fashion supported by clear evidence. Structured and logically developed arguments. Arguments are clearly supported by evidence. Structured and logically developed arguments. Arguments are supported by evidence. Some structure is evident. Arguments are somewhat developed. Arguments are somewhat easy to understand. Arguments are somewhat supported. Structure and clarity is an area needing improvement. Arguments are not well developed. Arguments are not easy to understand. Arguments are not well supported. Structure and clarity is an area needing significant improvement. Arguments, if evidenced, are not developed or supported. Non-existent or entirely irrelevant or incomprehensible. Clear flow of thought throughout the paper with a clear and succinct purpose described in the introduction and a clear and succinct conclusion. 10% weight Well-written with a clear flow of thought, a pleasure to read. Excellent introduction, providing a very clear purpose which ensures all areas relevant to the topic are clearly outlined. The assessment presents an excellent summary of the ideas presented, drawing clear and well thought-out conclusions. The flow of thought is very good. Paragraphs are well linked. Good introduction, the purpose is clear and crisp. The assessment presents a very good summary of the ideas presented; drawing fairly clear and well thought-out conclusions. The flow of thought is good. Paragraphs are reasonably linked. Ok introduction, the purpose is clear. The assessment presents a fairly detailed and focused summary of the ideas presented, providing some evidence of conclusions. The flow of thought is ok. Paragraphs are reasonably linked.