ASSESSMENT 3
Term 3
(Business case report)
Word limitation: 2200- 2300 words References: 15 academic journals (not books) (American Psychological Association (APA)) + In-text citation is so important You should use headings and sub-headings to divide and clarify each parts from the other. You need to define the new terms based on academic journals. The aim of the business case report is to improve your ability to convincingly discuss a business case, which is a main function of business development.
Objectives:
In order to successfully complete this business case, the report is required to undertake these following activities:
Classify for whom or/and for which organisation you will be writing the business case. (For Example, you may be pitching to an investor or the management of a company). (Please remember that the selected organisation for this assignment is IKEA, and this essay going to talk about this company and why choose this company as a good example for innovation and business case)
Identify an innovation that your group believes could be reasonably discussed as the subject of the business case. The innovation you choose should have the potential to be developed sustainably over a commercially viable period of time.
Note: You cannot do something they are already doing.
*(This innovation should be coming up and suggested with yourselves or something you learned about by reading or watching TV, etc.)
Assess and consider the possible business models that could be utilized to recognize the opportunities inherent in the innovation. (for example Business Model Canvas)
State at this point in time which Business Model category/area you are going to select and focus on (why)
Improve the business case document according to the business template based on these following five separate sections:
1. The problem the innovation can solve; 2. Benefits of the innovation; 3. Strategic response or plan; 4. Project options analysis; 5. Delivery of the recommended solution
IMPORTANT ATTENTION REGARDING THE ABOVE ACTIVITIES:
Your arguments about the above activities need to fully cover the following contents:
1. Problem that needs solving or the reason the innovation is required is effectively articulated (Superior articulation, explaining the commercial potential well, including other possible implications)
2. The benefits and significance of the generated ideas or solution or innovation are logically and persuasively argued (Discusses the costs and benefits in a superior manner, using logic effectively and credible justifications of the assumptions used while appreciating the needs of all relevant stakeholders) 3. Business case components, concepts and theoretical treatment: 1) the problem, 2) benefits, 3) strategic response, 4) options analysis, 5) delivery of the recommended solution (Superior structure, and superior use of data; credible assumptions; demonstrates strong research and analytical capabilities; separates critical decision-making points out from detailed analysis for investors). 4. Coherence of arguments, theoretical integration, written communication, credible sources and reference standards skills
Accountability for structuring, coordinating, and managing processes to finalize the business case lies with each team. Teams are encouraged to work with content beyond Tidd & Bessant (2013) and Osterwalder & Pigneur (2013). Teams must take charge and deliver a business case capable of convincing key or principal stakeholders that a return is assured. Appropriate justification or mathematical models (such as, NPV analysis, Wolfram alpha), and business development issues specific to the problem or need expressed. You may utilize appendices to support your business case.