MGT607 Innovation, Creativity & Entrepreneurship

Subject Code: MGT607

Title:  Innovation, Creativity & Entrepreneurship

Assessment 1: Case Study Analysis

Length Up to 1000 words

Context:
Innovation, creativity and entrepreneurship can come in many different forms and be successful for many reasons. As such, being able to recognise these will broaden your understanding and appreciation for the important role of entrepreneurship and innovation in society today. This assessment requires students to critically analyse a case study utilising the theory learnt in Module 1 and Module 2. It is important you draw on the concepts of innovation, creativity and entrepreneurship and link them to the case study to support your discussion and any recommendations you may have.
Instructions:
You must select ONE of the following three case studies below for your assessment. These case studies provide different examples of entrepreneurship and innovation.
1. Majora Carter: 3 stories of local eco-entrepreneurship https://www.ted.com/talks/majora_carter_3_stories_of_local_ecoactivism#t-186688
2. Krista Donaldson: The $80 prosthetic knee that’s changing lives https://www.ted.com/talks/krista_donaldson_the_80_prosthetic_knee_that_s_changing_liv
es#t-434865
3. Navi Radjou: Creative problem-solving in the face of extreme limits https://www.ted.com/talks/navi_radjou_creative_problem_solving_in_the_face_of_extrem
e_limits#t-500868

You will be required to watch the video and prepare a business style report. You must ensure that you incorporate the theories, which you learn in Module 1 and Module 2 to support your discussion. Specifically, some of the questions you should be considering are:
 How does the case specifically demonstrate an entrepreneurial mindset?
 How does the case adopt theories of creativity to solve the specific problem?
 How does the case show an innovative approach to meeting a customer need?
Whilst the format may vary for your report, below is suggested format for you to follow:
 Cover page
 Background [approximately 150 words]
      o This will provide an introduction to your case study.
 Main Discussion / Opportunity [500-600 words]
      o This section should use the questions above as the basis for your discussion.
 Recommendations / Conclusion [200-300 words]
      o Is there anything you think could have been done differently?
      o What are your key learnings, which you have taken away from the case study?
 Appendices where applicable
Your case study will be assessed based on the Rubric below and is limited to a word count of 1000
words excluding the cover page.

Assessment 2: Business Concept Plan

Length Up to 1500 words

Context:

Identifying an opportunity is great! For example, before Uber became a global icon the idea of a technologically based journey service was just an embryonic idea by Garrett Camp and Travis Kalanick. However, before any idea or opportunity can proceed you need to be able to articulate some key things to obtain buy-in to continue before significant time and investment is spent developing a product /service/process innovation that may require some adjustments and/or other considerations if you want it to be successful.

This assessment requires students to develop a Business Concept Plan that articulates what your idea is and what you would like to do with your idea to exploit the opportunity you have identified. This clarity of your vision will serve as evidence that you have thought critically about the idea. When investors and other business people see this, they will have a better sense of the risk they would take by working or investing with you just by reading this document.

You will need to incorporate the theory, which you have learnt in Modules 1 to Modules 3 to provide you with the tools and structure for the components that you need to address in your plan.

Instructions: 

You are required to develop a Business Concept Plan which provides a business solution to an opportunity which you have identified. You need to ensure that the plan demonstrates that your idea is a feasible and viable solution and something that will obtain support from an executive or management team to develop in to a business case, ultimately seeking funding and approval to develop/implement (This will be Assessment 3!).

Consider what it is that will attract approval and funding of your idea. What it is that makes this a great opportunity and something worth developing or progressing?

Whilst the format may vary for your plan, it must include the following:

 Cover Page

 Industry Background [1-2 paragraphs]

 Problem / Opportunity – description of your idea [1-2 paragraphs]

 High-level Solution [1-2 paragraphs]

 Business Model – how will you make money? [1-2 paragraphs]

 Gap Analysis

 Competitor Analysis [use a 2-axis matrix]

 Unique value proposition – what makes you unique, better and different from your competition

 Ideal Customer Profile – before using your product / after

 Total Addressable Market [use a diagram to illustrate]

 Business Model Canvas

 Value Proposition Canvas

 References

Your report will be assessed based on the Rubric below and is limited to a word count of 1500 excluding the cover page.

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