BU7030 Managing Innovation
1.Critically assess theory from the area of innovation management.
2.Analyse contexts and processes if innovation management and determine critical elements impacting on innovation.
You are required to select a Small, Medium Enterprise (SME) or large company with a presence in the UK providing products in the Retail or Manufacturing sectors. You will examine the topic of innovation through a critical analysis of their approach to innovation using Tidd & Bessants (2018) innovation process model and incorporating two identified innovations already developed and implemented in the market place by your chosen business. You will produce a report on the effectiveness or otherwise of your chosen business’s approach to the innovation process. You are, therefore, required to provide an evaluation of the following:
·A critical analysis of Tidd & Bessant’s (2018) Innovation Process Model incorporating teamwork, project planning, risk assessment and the influence of the market to the innovation process at the appropriate stages of the model. To aid analysis, it is expected that other business models will be included as relevant to the different stages of the model. The inclusion of two identified and defined current innovations to aid your analysis is critical. (40%)
·Identification and analysis of your chosen business’s internal resources considered necessary to ensure success in their innovation strategy. (30%)
·An analysis of the potential influence of organization culture on managements’ approach to managing the innovation process and ensuring organization efficiency. (20%)
·Structure and quality of the written report including correct use of APA citations, grammar and referencing. (10%)
D: Specific Criteria/Guidance
It is important that you include appropriate business models and relevant current data to support your analysis.
Your assessment is in report format so indexing, an introduction, main report and conclusion are essential requirements of this assessment.
The following points will help you to further focus and enhance your analysis of your chosen company and related innovations:
ØEnsure you are familiar with the Innovation Process Model Tidd & Bessant (2018) and each of the relevant stages of the model and how these stages are interrelated.
ØIt is important for you to consider the importance of team working, project planning, risk assessment and understanding the marketplace and where and how these elements are applied at the relevant stage within the innovation process.
ØIt is important to recognise the difference between efficiency and effectiveness in the innovation process and to ascertain if your chosen business has achieved a degree of efficiency and effectiveness in the way they manage their innovation process.
ØAn appropriate business model/s should be included to aid your analysis of the identified elements as related to the innovation process.
ØYour two identified innovations must be current and already established in the market place and there should be an awareness of these innovations to the product life cycle.
ØInternal business resources should be fully identified and you must outline the importance of these resources to obtaining business success in line with innovation strategy.
ØRecognition of the influence and impact of culture on innovation strategy and the role management play in managing culture to ensure success.
ØYou must demonstrate a strong link between academic theory and practical context as applied to your identified business
F: Submission Guidance
·You must submit assessments in Microsoft Word, Microsoft PowerPoint or PDF format.
·The file must be no larger than 40MB.
·Your writing is expected to conform to Standard English in terms of spelling, syntax and grammar.
·You must include your Assessment Number (J Number) in the header or footer.
·Include your word count at the end of the assignment or the front cover.
·Set up your page for A4 paper in portrait style.
·The font size must be a minimum of point 12 Calibri (or equivalent) for the body of the assessment and footnotes must be 2 points smaller.
·Line spacing in the body of the assessment must be 1.5 lines.
·Number the pages consecutively.
·Students should submit work before 12 noon on the deadline date electronically via Moodle. Please follow the ‘Turnitin submission’ link on the module space and follow the on-screen instructions, paying particular attention to any specific instructions for each assignment.
·You must submit your work with the following details written on the first page:
-Title of your work
-Module title and code
-Module Leader and Seminar Tutor (if relevant)
-Number of words
-Your student assessment number (J Number)
Student work that does not have this information on will not be identifiable after marking has taken place and risks being recorded as a non-submission.
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