ENT10002 Creativity and Innovation- Entrepreneurship and Business
1. Describe the nature of innovation as a force in entrepreneurship and business 2. Explain factors that enhance and inhibit creativity in individuals, teams and organisations 3. Demonstrate key aspects of the innovation process 4. Work collaboratively in groups, to solve problems or improve business ideas and outcomes
The purpose of this assignment is to assess your understanding of and the application of the content related to innovation covered in this unit.
Find a business identity whose growth has been based on innovation (product innovation, process innovation or business model innovation). You can choose one from the following categories:
Option A: A start-up venturing idea of your team members or from your personal contacts based on innovation
Option B: A venture company of more than five years that has built successful products and markets (can be a publicly list one or a private one). Examples include Canva, Afterpay, Rent the Runway, or any firm of your choice in this category.
Option C: An established company (i.e., a publicly listed company) based on innovation. Examples include PayPal, Uber, Airbnb, Google, Microsoft, or any firm of your choice in this category.
You are required to write a report evaluating the innovation embedded in the company of your choice. Using the theories related to innovation we have covered in this unit, please complete the following tasks:
1. Using the relevant innovation theory (content covered in Week 6), critically evaluate the innovation based on which the choice of your case has been founded and developed.
i. Analyse its technology S-curve (the stage of development)
ii. Analyse its market S-curve (the market segments of its product/service)
iii. Analyse the product/market fit
2. Using the relevant theory of disruptive innovation, critically evaluate whether the innovation of the choice of your case has the potential:
i. To disrupt any industry ii. To be disrupted by new entrants
3. Using the relevant theory in firm growth (content covered in Weeks 9 and 10), critically evaluate the growth potential of the choice of your case:
i. Whether the further growth of the innovation embedded in the case of your choice relies on complementary assets/infrastructures. ii. Who controls the above-identified complementary assets/infrastructures? iii. The industry cycle of the case of your choice.