Assessment - Idea Generation

Task Description:

The objective of this individual assessment submission is to learn how to develop a business idea, complemented by brainstorming and leveraging the insights and skillsets of others. Assessment comprises two parts: Please submit a 5-page briefing paper of your business idea, its essential business model components, and aspects that will influence its success. A business model canvass can be included as an appendix.

The second part of the assessment is how constructively and collaboratively you have worked with others during the workshops scheduled for Assessment 2.

The assessment criteria for both components are detailed below.

Referencing Style: American Psychological Association (APA)

Assessment Criteria:

Business Idea:
1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required.
2. Persuasive argument of the benefits to be generated by the idea
3. Discussion of the proposed business model
4. Critical success factors to be managed during execution of the idea
5. Evaluation of the feasibility of the idea
6. Quality of written submission, referencing

Quality of contribution and collaboration

1. Individual student has demonstrated they worked productively in the team, including the ability to brainstorm with others to generate a viable idea set and to solve project problems collaboratively

2. Evidence that the individual student has helped the group reach consensus on the most viable idea to take forward for Assessment 3

3. Evidence that the individual student has been proactive in ensuring the the successful completion of the portfolio of materials for the pitch in Assessment

Learning Outcomes Assessed:
o Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles
o Develop ideas using conceptualisation frameworks, innovation personas and horizon thinking in different business and social contexts
o 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

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