DAVID GAME COLLEGE BTEC HNC/D ASSESSMENT BRIEF Student ID Number Course Full Name Higher National Diploma in Business Management Unit number and title Unit 8: Innovation and Commercialisation Assessor Juan David Zuliani Assignment Title Date issued Formative Deadline Summative Deadline IV Name and Date Week 1 Week 6 - 02 June (Task 1) Week 11 – 14 July (All Tasks) Unit Learning Outcomes: Grading Criteria Learning Outcomes Pass Merit Distinction Task No. Evidence LO1 Explain the context for innovation and determine the difference between invention and innovation P1 Explain innovation and determine its importance to organisations in comparison with invention. P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation. M1 Analyse different sources of innovation, and how organisations can foster and develop an environment and culture of innovation. D1 Critically examine the scope, development and growth of entrepreneurial ventures. 1, 3 Business Innovation Report + Peer Evaluation LO2 Explain the different types of innovation P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. P4 Explain developments in frugal innovation and provide examples of how it is used in an organisational context M2 Analyse and apply the innovation funnel in an organisational context. M3 Evaluate the role of frugal innovation in an organisational context. D2 Critically examine how small businesses have an impact on different levels of the economy (local, regional, national) and in an international context. 1, 3 Business Innovation Report + Peer Evaluation LO3 Discuss the process required to commercialise innovation P5 Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation. P6 Build an Innovation Business Case for an organisation, including ways to access funding. M4 Build a detailed Innovation Business Case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve. 2, 3 PPT + Peer Evaluation LO4 Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages P7 Evaluate the different tools that organisations can use to develop, retain and protect knowledge and intellectual property. M5 Present supported evidence-based evaluation of these different tools in the context of the wider business environment. 2, 3 PPT + Peer Evaluation ASSIGNMENT BRIEF AND GUIDANCE: Submission Format Task 1: BUSINESS INNOVATION REPORT – MS WORD (2,500 words) Task 2: PPT PRESENTATION - MS POWERPOINT (10-12 min) Task 3: PEER EVALUATION – MS EXCEL (Using form provided) . Purpose of this assessment This assignment is designed to assess the learner’s knowledge of the principles of innovation and commercialisation, enabling them to identify and use fundamental tools and concepts that incentivise innovation within organisations, in order to reap business benefits. Scenario You are a team of consultants that advises companies on how to develop their product and service offerings, in order to maintain a competitive advantage based on creative commercialisation practices and value proposition innovation. You have just been informed that your new client (a company of your choice, subject to instructor’s approval), is an established business whose sales have recently experienced a significant decline, mainly due to increasing competition as a number of new players have entered the market. As a result, your team has been hired to evaluate the situation and present recommendations on how the company should move forward. Task 1 Working in small groups (4 people per group) you should produce a BUSINESS INNOVATION REPORT to present to the client and provide background information about innovation and the processes of innovation development. This is the first part of your research and will support the development of a business case which you are to present to company directors. The business report should address the following: Explanation of the difference between invention and innovation. The value and importance of innovation to organisations and how this can be embedded within the organisational leadership and culture at the company. Explain the 4Ps of innovation and how this supports capability and management of innovation. Advise the company which form of innovation they should engage in. Discuss the approaches that company can take to process innovative ideas, including the innovation funnel and frugal innovation. Be specific in your recommendations. Explain the steps the company should go through to derive a new innovative product and/or service. TASK 1 MUST DEMONSTRATE FULFILMENT OF: LO1 (P1, P2, M1, D1) & LO2 (P3, P4, M2, M3, D2) This is a group task, which must be submitted as ONE report, but it should clearly highlight which section was completed by each individual member. This should be written in a concise, formal business style using 1.5 spacing and Calibri font size 12. You are required to make use of headings, sub-headings, paragraphs, subsections, charts, tables, figures and illustrations as appropriate and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. Word count: 2,500 words, + / - 10%. Task 2 Your group must prepare and present a business case for the type of product and/service you are recommending for the company. The business case POWERPOINT PRESENTATION should be 10-12 minutes long and slides should cover the following: 1. Background to the company and the problem. 2. Scoping of ideas for developing new products. 3. Identifying the solution to the problem using the commercial funnel to highlight strategic capability: - Matching goals to resources and capability, including funding alternatives. - Identify key risks - Leadership challenges and motivational drivers, using examples - Value measurement using specific Key Performance Indicators. 4. Determine tools and techniques for testing the effectiveness of the new product. 5. Explain how the company can protect the intellectual property rights of the new product/service. TASK 2 MUST DEMONSTRATE FULFILMENT OF: LO3 (P5, P6, M4) & LO4 (P7, M5) Word count: 1,500 words (including presenter notes) Note: you should submit your presentation s PDF document, showcasing the presenter notes to support your slides Task 3 Peer Evaluation produced by each group member, using the MS Excel form provided. Sources of information [insert useful publications, websites, etc.] Task 1 Newspapers/news websites Organisation website Textbooks and class hand-outs Task 2 Newspapers/news websites Organisation website Textbooks and class hand-outs Task 3 Peer Evaluation Form Student Achievements and Assessor Feedback Student achievement and Assessor feedback for both formative and summative submissions will be recorded within Grademark Turnitin via Moodle and will be available for students to view as notified on Turnitin. Student submission and declaration The following declaration will be inserted in the Turnitin link for both formative and summative submissions: ‘I certify that by submitting the work for this assessment on Moodle (and via Turnitin) it is my own work and all research sources are fully acknowledged using the Harvard system of references. I certify that there are no personal or mitigating circumstances that have affected my work.’ By submitting such document, you acknowledge that your work is your own, and abides by the DGHE code of conduct, and Pearson regulations. Please note that in case of academic malpractice DGHE reserves the right to decline to accept the work for assessment purposes, and/or conduct an investigation, which might result in an oral presentation, oral or written exam, or any other appropriate form of examination. Further information can be found in the academic integrity and misconduct policy, the assessment policy, and the student handbook. Note: The Programme Leader or Programme Manager may, at their discretion, request a supplementary 20-minute PowerPoint presentation with 10 minutes questions about any written work submitted as an assessment, where the lecturer suspects that the work is not the students own authentic work and such student has been referred by the lecture for potential academic misconduct. Date Submitted: