19 Jun HOW WELL DOES THE IDEA ADDRESS THE PROBLEM IT IS SOLVING?
The business that you design for this assignment must be innovative in the sense that it uses digital technology to introduce a new product or service into the market to satisfy an unmet need. The use of digital technology alone does not automatically make the business idea innovative. The product or service that you propose must be something new or an improvement on an existing product or service. Note that you are proposing a new business, and not a new product or service for an existing business. This innovation requirement means that your proposed business will be very different to the business that you developed a plan for in Assignment 1, since it merely had to provide an income. Ask yourself the following questions when assessing how innovative your business idea is. • How unique or original is this business idea? • How much of a breakthrough is this idea, as opposed to just being an incremental improvement? • How difficult will it be to implement this idea? • Is there a clearly identified and well-defined problem or opportunity that the idea is solving? • Is the problem / opportunity worthy of being solved? • How well does the idea address the problem it is solving? • Is the idea likely to make a big impact relative to the (employee) size of the business?
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