14 May INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Innovation and Sustainable Business Development
The Essay
The objective of this essay is to develop your understanding of the business model as a concept and how a theoretical understanding of business models can be used to explain the exploitation of innovations by organisations in real-life.
Academic literature relating to business models abounds but the academic community has not yet been able to agree on one single conceptualisation of the term. To successfully complete this part of the assessment, you are required to explore the academic, theoretical literature on business models and write an essay addressing the following: Based on your exploration of relevant literature, choose one conceptualisation that you think best explains how organisations exploit innovations. Explain your chosen conceptualisation and present a clear justification of your choice by:
1.critically discussing its superiority in comparison to one alternative conceptualisation; and by
2.applying it to a real-life innovation of your choice, which was introduced within the last 5 years.
You should include at least 8 references and no more than 20 references.
MGMT20132: GUIDELINES FOR ASSIGNMENT 1
INNOVATION AND SUBSTAINABILITY BUSINESS DEVELOPMENT
BUSINESS MODELS
The Essay
The objective of this essay is to develop your understanding of the business model as a concept and how a theoretical understanding of business models can be used to explain the exploitation of innovations by organisations in real-life.
Academic literature relating to business models abounds but the academic community has not yet been able to agree on one single conceptualisation of the term. To successfully complete this part of the assessment, you are required to explore the academic, theoretical literature on business models and write an essay addressing the following: Based on your exploration of relevant literature, choose one conceptualisation that you think best explains how organisations exploit innovations. Explain your chosen conceptualisation and present a clear justification of your choice by:
1. critically discussing its superiority in comparison to one alternative conceptualisation; and by
2. applying it to a real-life innovation of your choice, which was introduced within the last 5 years.
You should include at least 8 references and no more than 20 references.
Requires you to demonstrate that
1) You have read and understood the academic literature about business model
2) What literature mean for real innovation……..
CHALLENGING CONCEPTUALISATION
1) Approach / classification
2) NOT a mere description how a business creature and capture value
3) BUT demonstrated understanding of approach underlying the process
4) Obviously, as a part of well-argued essay, this description need also be present in the essay
Just make sure that you go BEYOND describing
FOR EXAMPLE
NOT: Pharmaceutical companies develop a new drug but instead of just selling it to the Europen health minister, they provide the drug without charging for it unless it is overall 90% efficacious.
BUT: Pharmaceutical companies newest business model innovation can be referred to as a ‘non-efficacy-no charge ‘approach, which seems to be variation of well know ‘no-win-no-fee approach that pharmaceutical companies well only charge the European health minister if then new drug more than 90% efficacious.
CHALLENGING SUPERIOR BM
1) The task is deliberately worded somewhat controversial manner to give you the opportunity to demonstrate the ability with the challenging brief and give you a chance to develop the your argument
2) Before writing your essay, you much consider the following
Why is that there are so many conceptualisation in the literature?
Can there be ever be one that superior for ALL organisation to exploit innovation
Why or why not?
How could you include such an argument into the essay?
CHALLENGING: CRITICAL DISCUSSION AND APPLICATION
Critically in KEY
Research your choice of approach widely- not just one single paper
View it in the various angle and bring it in your discussion
It may help to consider pro and cons of each conceptualisation
Application
Any innovation can be used, some description can be used
Carefully chose how to apply conceptualisation to the innovation
You need to reference the material you cite also when discuss the innovation (e.g company website)
ASSESSMENT CRITERIA ESSAY:
1. Demonstrates an appreciation of business model theory (5%)
2. Logically and critically compares and assesses two business model conceptualisations (15%)
3. Justifies the perceived superiority of the chosen business model conceptualisation (10%)
4. Applies the chosen business model to a recent innovation from real life (5%)
5. Concludes by summarising the key arguments, making sure all arguments are well-articulated (5%)
6. Coherence of arguments, theoretical integration, written communication, credible sources and referencing standards skills (10%)
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