!Solve the following problems.

Case Study:

Mrs. Crowley is the chief operating officer (COO) of a tourism resort in northern Queensland. A core component of her role as COO is to predict, plan for and implement necessary changes to the resorts core services. Guests staying at the resort primarily travel to the region to enjoy the surrounding environment, including natural attractions such as the Daintree rainforest, Great Barrier Reef and Wallaman Falls. Where possible, the resort likes to facilitate their guests travel to these natural attractions. However, over recent years their courtesy car and bus fleet has become increasingly run down. This has frustrated employees of the resort who enjoyed facilitating this service and overtime developed a level of expertise and experience in describing the importance of these natural sites. Adding to frustrations, the employees have had to watch other tourism services offering this exact service become more and more successful! Some good news is on the horizon however. The Queensland state government has decided to invest in sustainable tourism development and a considerable sum of money is available to those tourism operations who can demonstrate their ability to provide educational and sustainable tourism services to their clients. This initiative is considered critical as sustainable tourism is an increasingly popular form of tourism consumption. There are fears that if tourism in Queensland doesn't respond to this market trend it could be surpassed by other states or international destinations as the 'must visit' location for environmental attractions. Knowing this, Mrs. Crowley is very keen to secure access to some of the promised investment capital. However, she is aware that to receive any money from the state government she must demonstrate her resorts ability to innovate and provide a sustainable tourism service.

Assessment Details:

You need to compel research report, investigating the feasibility of an innovation strategy for the example case presented above. As part of this feasibility report you will need to:

? Identify and account for internal and external environmental factors facing the organisation.

? Identify three (3) opportunities and associated strategies to innovate.

? Critically evaluate one (1) of these opportunities and strategies and develop a plan for its implementation.

? Develop a process to review and monitor the progress of this innovation strategy.

In completing the research report, you are required to do the following:

? Explain the importance of environmental factors in shaping business innovations - specifically those which apply to the organisation described in the case study.

? Assess and evaluate potential opportunities for business innovation the organisation in the case study can exploit.

? Develop a plan and review system to implement and control the chosen business innovation strategies the case study organisation would like to employ.

? provide a research report following the suggested structure/criteria provided below.

? On completion, submit the assessment in a single Microsoft Word document via the Assessment 5 Upload link on the Canvas system.

Report Structure: It is suggested you use the following sections and headings to structure your research report

. ? Report preliminaries: Title executive summary, table of contents.

? Introduction: Provide a brief description of the purpose and aim of the report. Outline the nature of the industry applicable to the case study organisation. Briefly identify the importance of understanding environmental factors and their role in shaping business innovation.

? Body: Present theoretical/conceptual research justifying the need for organisations to consider their external environment. Present findings of research into factors affecting the organisation described within the case study. Discuss implications of these findings to present three (3) opportunities to innovate (using theoretical/conceptual evidence to support opinion). Choose the most favourable innovation option and describe in detail (including a plan for its implementation and means by which to monitor and control once implemented).

? Conclusion: Link the arguments presented in the body to form sound and logical conclusions.

? Recommendations: In line with conclusions, offer specific recommendations designed to aid in achievement of the selected innovation initiative.

Question 1 (20 points) Consider the standard neoclassical growth model in discrete time. There is a large number of identical households normalized to 1. Each household wants to maximize life-time discounted utility U((a).) = [ Bu(a). BE (0, 1). Each household has an initial capital ko at time 0, and one unit of productive time in each period that can be devoted to work. Final output is produced using capital and labor, according to a CRS production function F. This technology is owned by firms (whose measure does not really matter because of the CRS assumption). Output can be consumed (c) or invested (it). Households own the capital (so they make the investment decision), and they rent it out to firms. Let o E (0, 1) denote the depreciation rate of capital. Households own the firms, i.e., they are claimants to the firms' profits, but these profits will be zero in equilibrium. The function u is twice continuously differentiable and bounded, with u'(c) > 0, u"(c) 0, f"(x)