Part 1: Provide a critical review of existing literature on the concept of Innovation Management.This should demonstrate your understanding and knowledge of this topic through the review of established literature
Innovation Management Case:
Bizteczecis a creative technology company with its headquarters based in London, and after working there for two years as a Client Manager, you have now been internally promoted to Innovation Director.Originally founded in early 2004 as a small company in Brighton, Bizteczechas grown into a noteworthy creative technology company in the UK focusing on a range of services and products such as:
·UI and UX development
·Internet of things solutions
Report:The company has a small number of corporate clients across the UK,and has more than 35 employees. Company revenue last year was £25m, and this year revenue has slumped by more than 10% as a result of a lack of client projects, and increasing price pressure from growing international competition.In order to address this situation, Bizteczec’s CEO, Ms Sarah Swans, has tasked you as the company Innovation Director to develop a three part innovation management report to ensure the company’s growth over the next five years:
·Part 1: Provide a critical review of existing literature on the concept of Innovation Management.This should demonstrate your understanding and knowledge of this topic through the review of established literature, stemming from high quality papers published in academic journals.
·Part 2: Suggest a new innovation strategy for Bizteczecusing the 4Ps of Innovation Space Framework, by focusing on Product, Process, Position, and Paradigm. For example, this can reflect either a new service or product for the company, or alternatively an analysis of the company’s existing services and products as outlined in the case. This should demonstrate your understanding and knowledge of the 4Ps and how they can be applied to Bizteczec.
·Part 3: Based on your new innovation strategy for Bizteczec,recommend and justify its implementation by drawing on only one of the following concepts:
-Open Innovation (OI)
-Diffusion of Innovation (DoI)
-New Product (or service) Development (NPD)
-Corporate Venturing (CV)
This should demonstrate your understanding and knowledge of one of the above topics, and how it can help Bizteczec.
Suggested Report Structure:
A report format assignment should be concise, well-organised, using headings, subheadings, sections, and be easy to follow. Sections should be numbered: Major section 1,2,3 etc. -First level of sub-section 1.1, 1.2, 1.3 etc., 2.1, 2.2, 2.3, 2.4 etc.
·Title Page (module code and name, assessment number/title, student ID, tutor)
·Table of Contents (list of all headings and sub-headings)
·Introduction (background information)
-No more than 300 words
·Chapter 1. Innovation Management Critical Review
-No more than 800 words
·Chapter 2. 4Ps Innovation Framework
-No more than 850 words
·Chapter 3. Recommendation
-No more than 850 words
·Conclusion (summary information)
-No more than 200 words
·List of references (references to books, journals, etc. used in the assignment)
·Appendices (details of any analysis, other relevant information)
Your report should be guided by relevant theories and concepts and it is important to include academic research to underpin your analysis and critical findings where applicable.
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