MGT2321-6/MGT2421 Principles of Innovation and Entrepreneurship Essay Assignment 1 – Brief

MGT2321-6 Assignment 1 – Brief

GUIDELINES

This assignment must be word-processed and reflect a solid academic approach (2,500 words+/-10%). 

Answer both parts (a) and (b) of the following sections:

a) Prepare a proposal for an innovation (product/service/operational/social)   
b) Prepare a reflective piece on the innovation process you used

Material covered in: Lectures 1-12.

Title Page

• Give your work a title concerning the innovation.
• Include Module Code and Name; Date of Submission

A. The Innovation (Approx.1,500 words)

• Approach this as if it were a written “Elevator Pitch”, i.e., you have ~10 minutes to pitch your idea.  This means that you need to get the idea across succinctly.  You must include the following: 
  A.1. Brief introduction 
  A.2. Discussion of the general Problem/Opportunity being tackled, including stakeholders. 
  A.3. Description of your innovation (i.e., How it works!) 
  A.4. Analysis of the unique selling/value proposition (Uniqueness of your idea compared to the current context)
  A.5. Description and evaluation of resources needed to make this innovation happen (e.g., equipment, materials, skills, partnerships, etc.)
  A.6. Explanation of how to engage stakeholders with this innovation (e.g., pre: pre-consultation to refine the innovation, post: raising awareness).  
  A.7. Analysis of the innovation’s financial requirements (e.g., the approximate scale of investment/start-up costs, ongoing costs and returns; propose and justify an appropriate financial mix - sources and forms) and the financial viability of the innovation (i.e., make a qualitative judgement about the viability of the innovation). 
  A.8. Evaluation of the CSR implications of the innovation (i.e., select an appropriate framework to evaluate your innovation such as: Triple Bottom Line (TPB)/People-Planet-Profit(3Ps)/Lifecycle Assessment (LCA)/Sustainable Development Goals (SDGs), considering environmental, ethical, ethnicity, gender impacts, etc.).
• Split your word count approximately equally between each of the 8 sections.
• Include illustrations to help explain your innovation. )

B. Your Reflection (Approx. 1000 words)

• B.1. Introduce this reflective piece (~100 words)
  B.2. Main Body
• Evaluate the efficacy of the references (e.g. Academic and non-academic sources, personal communications, etc.) you used to help you develop your idea. (~250 words)
• Explore how your understanding of innovation changed and what you learned from this experience. (~250 words)
• Relate how this experience might help you deal more effectively with future scenarios. (~250 words)
  B.3. Offer a conclusion to this reflective piece (e.g. benefits and limitations of the experience, what you might have done differently to make this a more effective learning experience, your thoughts in general).  (~150 words)

MGT2321-6 References

List all of the references cited or quoted throughout the text (e.g., books; handbooks; journal articles; government reports, media, personal communications, audio-visual sources, etc.) Use the Harvard referencing system.