ICT302 Entrepreneurship and Innovation Assignment

Reference no: EM132966414

ICT302 Entrepreneurship and Innovation - Sydney International School of Technology & Commerce

Assessment 1 - Case Study Report

Overview

Entrepreneurs like other professional must decide whether to take the risks associated with undertaking a business idea or not to invest time and resources into the notion. While the opportunities might be attractive there are always huge risks associated with venturing into new territories as an entrepreneur. It is for this reason entrepreneurs are expected to be creative and agile. This enables them to be innovate and to be able to design new product solutions to meet the demands of the market. Moreover, entrepreneurs often must collaborate and engage with others to ensure they are able to take their products to market within a short timeframe.

There is a need to understand the importance of ethics and how to operate in an ethical and professional manner. In addition, there are professional standards and codes of practice which guide the behaviour and mindset of the entrepreneur who must operate within legal and regulatory boundaries. There is a need to understand and be able to apply design thinking when developing product or service to ensure that it achieves the needs of the target customer segments. Additionally, there is a need to be able apply different analytical tools to better understand the different segments (e.g. societal level, industry level and firm level) of the market.

Learning Outcome 1: discuss various historical and contemporary ethical theories and how these relate to the social, legal, ethical and organisational issues raised by current practices involving ICT;

Learning Outcome 2: critically evaluate the role of professional standards, codes of conduct and legislative/regulatory obligations on the level of professionalism of the ICT industry;

Learning Outcome 3: specifically, understand and articulate approaches to currently dominant issues involving ICT, including privacy; intellectual property, freedom of expression, regulation of cyberspace and equality of access;

Learning Outcome 4: apply ethical theories and concepts to analyse ICT related ethical dilemmas.

Case Study
The pandemic has influenced the business landscape and while it has created a lot of challenges for most businesses those that have approached the pandemic with agility and an innovative mindset have been able to capitalise on the opportunities presented by the pandemic. Many industries are thriving during this period and this includes the likes of companies in the digital space, e-commerce, healthcare, and agriculture to name a few. Examples of such opportunities and growth are provided in the following section.

Health Care

Hospitals treat more patients during this period and medical staff have had to put in longer work hours. However, behind the scenes are health equipment suppliers and manufactures who specialise in medical equipment and technologies during the pandemic across Australia such companies have seen unprecedented growths.

IT for Education

Most education providers have been forced to conduct classes online. This has accelerated the adoption of online education technology such as Zoom and Google Classroom. There has also been an increase in the uptake of learning management systems such as Moodle, Blackboard and Canvas. Organisations who offer such services have continued to innovate during this period and as such they have seen dramatic increases in revenue.

Agriculture

Due to the pandemic, there has been increased risks associated with human contact and as such there has been an increase investment into robotics in the agriculture space. Organisations in this space have benefited of technologies such as artificial intelligence and drone technology which has been used in fruit picking and assessing of fruit yield. Organisations in this space have seen huge benefits from their investment in technology which as had a positive impact on their triple bottom line.

Online Payment Apps

Due to the financial hardship that many individuals have encountered during the pandemic organisations such as Afterpay and SplitIt have created more cost-effective and credit safe ways for customers to purchase products without having a detrimental impact on the customers' budget. These companies have experienced increased customer uptakes and usage in the market.
Given the examples provided above, students are expected to think of a business idea as a young aspiring entrepreneur. Following the below assignment structure, you are expected to prepare a brief report highlighting your business idea in the form of a business model canvas. Students are expected to submit their report using the structure and Business model canvas template provided here.
• Assignment Cover Sheet
• Title Page
• Introduction
• Business Model Canvas
• Conclusion
• References

Attachment:- Entrepreneurship and Innovation.rar

Reference no: EM132966414

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