Subject Code and Title: BIZ301 Organizational Creativity and Innovation
Assessment : Case Study Analysis
Individual/Group: Group (3-4 Student per group and to be formed in week 4) Length 4,000 words +/‐10%
Weighting : 40%
Learning Outcomes: The Subject Learning Outcomes demonstrated by successful completion of the task below include:
b) Identify organizations that develop and foster the processes, practices, and attributes for creativity and innovation.
c) Explain the implications for organizational strategy, when developing a culture of creativity and/or innovation.
d) Compare and contrast new venture creation using either business model generation or lean start up approaches.
e) Assess the suitability of innovators as agents of change
BIZ301 Organizational Creativity And Innovation Assessment 2 – Torrens University Australia.
Task Summary:
• Create a novel idea of the group’s choice that is innovative, and develop a venture plan that could bring it to market
• Demonstrate the use of various creative tools and theories from the modules to establish the market validity of the group’s chosen innovation
• Identify the client value proposition, the need in the market for the chosen product, and the business model canvas.
• Establish market segmentation, channel strategy and the marketing approach to deliver the innovation to the chosen market
• Develop a financial model for a viable venture
Please refer to the Task Instructions for details on how to complete this Group Assessment.
Context:
Innovation, creativity, and entrepreneurship is growing in importance in order for businesses to remain competitive. The ability of the contemporary employee or entrepreneur to operationalize an innovation is a highly valued characteristic in the dynamic global market place.
The process of developing your Group Venture Plan will provide you with key learnings on how to potentially take an idea from a concept to a globally scalable business. Your final Group Venture Plan will be similar to a Business Plan, so imagine you are sending your Plan to a potential investor to seek funding in your novel and innovative idea.
Task Instructions:
You will utilise all relevant theories, models, and ideas covered in the subject to develop a Group Venture Plan that demonstrates an understanding of where and how innovation transitions to entrepreneurship in a new venture. You must also demonstrate that you understand, and have properly considered, a number of theories and methods for bringing the innovation to market. The Group Venture Plan needs to be comprehensive and compelling in terms of funding and ongoing sustainability.
BIZ301 Organizational Creativity And Innovation Assessment 2 – Torrens University Australia.
PLEASE NOTE: The innovation must be novel and not already on the market. Groups who do not report on a novel idea will result in an automatic failure for the assessment.
Suggested Outline & Content of Group Venture Plan Report:
a) Cover Page – subject name, assessment name, student names, IDs
b) Company Information – including your company name, logo, tagline, vision and mission.
c) Executive Summary
d) Table of Contents
e) Introduction
f) Market Gap & Opportunity, e.g. background to the industry, what problem does your idea solve, is there a market need for it, who’s your target customer? etc.
g) Value Proposition, e.g. what is unique about your idea, why should somebody buy it,why are you different to the competition, what is your target market segment, etc.
h) Marketing & Channel Strategy, e.g. Key Partners, Key Activities, Key Resources. A Marketing plan such as website, social media, promotions, advertising, campaigns, etc., and Channels such as direct, indirect, online, physical location, and the 4Ps or 7Ps of marketing, etc.
i) Competitive Strategy & Positioning, e.g. Competitors, Market Share, Positioning Strategy, Porter’s 5-forces, SWOT, PESTLE, etc.
j) 3-Year Financial Viability, e.g. how will you fund your idea, how much money do you need to start the business, what are your costs, what are your prices and revenue streams, when will you make break-even and make a profit, etc.?
k) Conclusion
l) References – minimum of 10
m) Appendices – including at a minimum a comprehensive Business Model Canvas.
BIZ301 Organizational Creativity And Innovation Assessment 2 – Torrens University Australia.
You should undertake further reading on the organization, in order to enhance your analysis.
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