Assignment Title: Idea Generation and Business Model Development
Learning Outcomes Assessed:
1. Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles.
2. Develop ideas using conceptualisation frameworks, innovation personas and horizon thinking in different business and social contexts.
3. Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic.
Task Description: The objective of this individual assessment submission is to learn how to develop your own business idea, complemented by research and observational insights that detail why the need is compelling. Please submit a 1500-word business report of your idea, a detailed business model (BM) canvas, discussion of the interrelationships among the BM components that are essential to success, critical risks and assumptions, and overall feasibility. The business model canvas must be discussed in the report and included as an appendix.
The assessment criteria are detailed below.
Length: 1500-words
Format: Business Report
Business Model Canvas format: From Osterwalder & Pigneur (2010)
Referencing Style: American Psychological Association (APA).
Assignment Criteria:
1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required.
2. Persuasive argument of the customer/client benefits to be generated by the idea.
3. Discussion of the proposed business model.
4. Identification and discussion of the key interrelationships in the BM that will support success of the idea.
5. Critical success factors to be managed during execution of the idea.
6. Identification of critical risks and assumptions.
7. Evaluation of the overall feasibility of the idea.
8. Quality of written submission, minimum 6 peer-reviewed journals, and APA referencing format.
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