Overview “In year 2014, PwC consulting firm surveyed 500 innovation leaders on how they expected their innovation practices to evolve. Unfortunately only 27% felt they had mastered the elements needed for innovation success over the next ten years. This uncertainty doesn’t have to be surprising. While innovation has a place on every corporate agenda, wide disparities continue to exist in how well it pays off. Or, as the PwC report puts it: “R&D is often seen as a black box, where large sums of money go in and innovative products and services only sometimes come out.” Source from http://www.innovationmanagement.se/2016/05/24/why-innovation-fails-and-how-to-succeed/ Task Each student will research why innovation fails and then summarise three reasons that contribute to failure. Be sure to explain each failure by showing evidence of a real-world case study that was published on the internet. Each failing reason must be written on two duplicated white cards: one of the cards can be used later as part of a group project for Assignment 2, and the other card will be used in a class activity to generate and develop innovative ideas for avoiding innovation from failing. The title of the card is “Innovation Challenging Failure We Must Not Ignore.” The other card will be used for an in-class activity – to generate and develop innovative ideas for overcoming failures. “Innovation Challenging Failure We Must Not Ignore” Cards In-class group session: Week of May 8th – Important in-class activity: Assignment 2 teams will use the ‘Innovation Challenging Failures We Must Not Ignore” white cards developed as part of this assignment. Two sets of hard copy white cards must be brought to class (one of the white cards must submit to the tutor and the other white card to use with your group). This assignment requires you to research articles published from 2013 to 2016 on innovation failures. Survey and justify 3 top innovation failures and explain their consequences based on a case study or case studies from the source of articles that you read. Each student is required to produce 2 white cards with the title as “Innovation Challenging Failures that We Must Not Ignore.” On the card, write down 3 innovation failures that you think we must not ignore. What to research. What to research. Each student must research the 3 key causes to innovation failures. The top 3 failure reasons can be related to ideas, technologies, practices, people, or Assignment 1 page 2 of 3 methods. For each failure, you must clearly state its category. Justify how each failure are critically affecting organisations to innovate. Where to research. There are a number of textbooks and websites that outline innovation failures. Check the library and online, searching for topics such as people, ideas, tools, methods, products and practices. How much to research. Do not rely on a single source of information. You should consult a minimum of three different sources for each failure reason and synthesise your understanding from these sources. Some of the sources should be from books or journals; please do not rely only on websites. Important note: The Library Research Skills guide and exercises have been provided to help students to improve their skill with what, where and how much to research. This material can be found on UTSOnline under Assessments > Resources. The format on the white Card: Summarise each failure on the white card (the template provided on Online). Print each card on a single A4 sheet of paper so that folded in half it becomes a two-sided A5 sized card. One side of the card has the card title as “Innovation Challenging Failure We Must Not Ignore”, a picture and a short description. The other side of the card explains each failure, including in-text references to the sources used for reference/information, a list of the three or more quality references, and *importantly* your student name and number. Marking criteria 25 Marks: Individual assignment report and the cards 1. Clear and concise failure explanations: (50%) innovation failure explanations cover the impacts and consequences to organisations. Synthesised from multiple references (synthesis is demonstrated through the use of in-text citations to multiple sources). 2. References: (10%) Number, variety and quality of references. For highest marks, some references should be from books or journals instead of relying only on websites. 3. Format for references: (15%) Consistent use of an (Author, date) reference system for in-text citations and the reference list at the end of the paper using Harvard referencing style. 4. Presentation and documentation: (15%) Clearly presented, structured properly, proofread, follows format and word limit. 5. White card structure (10%) (Correct format, 2 white cards, address 3 innovation failures)