INNOVATION MANAGEMENT.

ASSESSMENT DETAIL

Group Assignment

Written report maximum: 2,500 words.

50 marks (15% of total course assessment)

Rationale

The aims of this activity are:

To gain an understanding on issues of ideation, creativity, innovation and

learn to apply relevant thinking techniques to their entrepreneurial projects

To facilitate your absorption of new information and ideas;

To develop positive attitudes towards new ideas, creativity and innovation.

Assessment Task

Generating an idea may involve the whole process of observing, thinking, analysing,

communicating and developing, which can be abstract, concrete and visual.

You are required to choose a specific product or service in the market.

Explain

how each of the following issues can provide a new business idea to an entrepreneur.

i. Do customers experience problems, inconvenience, unfulfilled requirements or

dissatisfaction with this product or service?

ii. Are there ways in which a higher value added product or service can be created?

iii. Are there ways to create a new unique selling proposition?

iv. Can it be produced at a lower cost and sold at a higher profit?

v. Are there ways to create a competitive advantage when compared to competitors

products or service?

Assessment Criteria

Ability to articulate thoughts and ideas: 20 marks

Evidence provided to support the thoughts and ideas: 20 marks

Sources of references, citation and references method, format and writing style:

10 marks.