BU7030 Managing Innovation Assignment

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Reference no: EM133023507

BU7030 Managing Innovation - University of Chester

Innovation Portfolio

Learning Outcome 1: Critically assess theory from the area of innovation management towards application in the workplace;

Learning Outcome 2: Analyse contexts and processes of innovation management and determine critical elements impacting an organisation;

Learning Outcome 3: Propose and justify the application of approaches for managing innovation within organisations to bring about performance improvement.

Assessment Task

You are an innovation consultant tasked by a decision-maker (owner/ managing director) of a small to medium-sized enterprise (SMEs) to develop an innovation for them to implement. You are to produce an 'Innovation Portfolio' consisting of 4,000 words, produced in a professional format suitable for your audience; please include the following sections:

(150 words (approximate)) i. Executive Summary. Indicating to the decision-maker everything they need to know about the portfolio succinctly. The Executive Summary should be written as a final task of the portfolio.

(800 Words) 1. Innovation Theory. Define the characteristics of innovation and critically assess theory from the area of innovation management. This section should include a critical analysis of Tidd & Bessant's (2020) Innovation Process Model or an alternative innovation model. It may also be beneficial to cover incorporating teamwork, project planning, and the influence of the market on an innovation process.

2. Innovation in practice

(500 words) 2.1 Company context

• Introduce an SME that you are familiar with (linked to the decision-maker). Describe and analyse the chosen SME's industry context and outline specific challenges that the SME faces which indicate a need for innovation.

(2100 words) 2.2 Innovation in action
• Propose your own clear, justified and substantial area of innovation within the SME to bring about performance improvement, which should also help solve an identified challenge.
• Highlight the importance of leadership concerning the proposed innovation.
• Identify and evaluate the SME's internal resources necessary to ensure success in the proposed innovation.
• A critical analysis and evaluation of potential external challenges which could impact the design stage of the innovation.
• Analyse the potential influence of the organisational culture on approaches to managing the innovation process.

Attachment:- Managing Innovation.rar

Reference no: EM133023507

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