Reference no: EM132315963

Learning Outcomes Assessed:

- Define and apply key concepts of innovation in commercial, digital, service, and social contexts
- Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles
- Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic
- Identify and discuss the technical, financial and organisational constraints to innovation in markets that occur in real-life through the use of teamwork and brainstorming.

Graduate Attributes:
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Research
- Self-management
- Ethical and Professional Responsibility
- Leadership

There are three reports of three different ideas.

1. Park smart (an application that helps to book parking for vehicle)

2. Robotic security system that safeguards agricultural and open lands from third-partiesinvasions.

3. Mobile application based taxi service for customers.

From these three reports we need to select one idea by comparing them and confirming that the selected idea is successful in 1500-word business report.

Following is the detail of the assessment.

Assessment - Idea Selection and Business Pitch

Task Description:

This is a group assignment that builds on the work completed in Assessment 2.

The objective of Assessment 3 is to develop skills that enable you to evaluate which idea (from Assessment 2) has the highest chance of success, and to then prepare a pitch that presents a compelling business case to secure financial backing. This facilitates an appreciation of what potential investors will be evaluating before they commit to project investment.

In summary, there are two parts to Assessment 3. The first requires the group to prepare a 1500-word business report that compares then selects which business idea to present from Assessment 2. The second involves everyone in the team pitching the idea to secure development capital. Each of these is detailed below:

Idea Selection

The structure of 1500-word business report should be set out as follows:

1. Idea Evaluation (Develop an evaluation framework to compare the ideas developed individually in Assessment 2). This picture is the framework to compare ideas and select best one.

2. Idea Selection (Describe and justify how the best idea was selected)

3. Improvements (Identify any gaps that need to be addressed before the idea is pitched to an investor)

4. Revised Business Model (Amend the business model canvas to incorporate the above revisions)

5. Cash flow projections (Prepare ‘best case' and ‘worst case' cash flow projections for the first two years. Remember to state your assumptions about the key drivers of cash flow in each scenario)

The Pitch

Using Zoom, record a (maximum) 10-minute PowerPoint presentation that explains and sells the business idea to potential investors and customers

Each team member must present their aspect of the pitch in no more than 3-minutes.

The pitch should be structured to include the following:
1. Overview of the proposed venture idea and underlying business model
2. More detailed explanation of:
a. the problem solved;
b. how the idea is monetised;
c. financial feasibility (Key Ratios: Break-even point and ROI);
d. operational feasibility; and
e. scope and scalability of the idea for commercialisation.
3. What you are seeking from the investor
4. What you are offering in return
5. Cash flow projections for the first two years.

Referencing Style: American Psychological Association (APA)

Attachment:- Assessment detail.rar