Assessment Overview
This assessment must be completed by students individually. The assessment is designed for students to develop understanding of the importance and appreciation of the close links between business strategy, business innovation and business models. The business model concept is central to this understanding. It has evolved from a term that refers to ‘the logic of the firm or the way of doing business’ to a set of conceptual analytical and creative tools that can be used to help imagine, conceptualise, deliver and capture business value. The assessment is about assessing business models using different perspectives. The assessment involves writing a 1500 word essay and explaining the essay’s main arguments via a creative video. The creative video should be of roughly three minutes duration.
Please note that academic misconduct and late submission penalties will apply to this assessment as per the university policies.
Assessment Guidance
Assessment 1 student guide (link).
Abena Nova case study, an example of a health care smart-connected-product (link).
Assessment 1 video examples (link).
Further assessment guidance will be provided here. As we progress in the unit, the unit coordinator will add advice here in response to student questions and discussions. You are encouraged to ask questions and contribute to discussions in class and to create posts on the website discussion forum.
Feel free to discuss your assessment ideas in the unit discussion forum, before you complete and submit the assessment.
Assessment Tasks
This section describes the assessment tasks. There are two components, a business essay and a creative video. You are required to write an essay and then explain the assay’s main arguments in a short creative video.
Business essay, 30% of the total marks for the unit
Business models are less durable than they used to be as technological advances in areas such as artificial intelligence, computing power, communication networks and battery technologies offers both threats and opportunities for existing businesses and their business models.
"Let's face it: business models are less durable than they used to be. The basic rules of the game for creating and capturing economic value were once fixed in place for years, even decades, as companies tried to execute the same business models better than their competitors did. But now, business models are subject to rapid displacement, disruption, and, in extreme cases, outright destruction” (de Jong & van Dijk, 2015).
Specifically, your essay is required to:
1. Clearly and succinctly define the terms ‘business model’ and ‘disruption’ based on a short literature review.
2. Analyse the opportunities and threats caused by the advances in smart-connected-products (Porter & Heppelmann, 2014, 2015) to the existing business model for one (1) of the following businesses:
a. Cochlear, Australia (link). Cochlear implant manufacture and service.
b. Commonwealth Bank, Australia (link). Banking and insurance.
c. Domino’s Pizza, Australia (link). Fast food restaurant.
d. LEGO, Denmark (link). Toy manufacturer.
e. Procter & Gamble, United States (link). Manufacture of disposable nappies and many other products.
f. Volvo Group, Sweden (link). Manufacture and service of trucks and construction equipment.
g. Strava, United States (link). Social fitness application.
h. A business impacted by the advances of smart-connected-products, that you are or have been employed at and therefore knows well. It is important that no confidential business information is included in the essay.
i. If you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.
3. Use the business model framework by Osterwalder and Pigneur XXXXXXXXXXto illustrate your initial findings.
4. Expand your analysis to address only two (2) of the following business model perspectives: business models as value proposition, business models as a set of capabilities and resources, business models as a system of processes, business models as a profit formula (Chesbrough 2010; Johnson, Christensen, & Kagermann, 2008).
5. Conclude by briefly discussing the significance of your findings to the business and its business model and the future of the business.
Essay marking criteria (30%)
1. Demonstrates an appreciation of business model theory in the literature. 3%
2. Identifies and concisely outlines the opportunities and threats caused by the advances of smart connected- products to the existing business model. 3%
3. Applies the Osterwalder & Pigneur XXXXXXXXXXbusiness model framework to illustrate findings. 6%
4. Critically applies the business model perspectives: value proposition, capabilities and resources, system of processes and profit formula to the analysis. 6%
5. Critically discusses the significance of the business model findings to the future of the business. 6%
6. Introduction, conclusion, coherence of arguments and theoretical integration. 3%
7. Written communication, credible sources and referencing standards skills. 3%
LEGO (buildable toys)
LEGO Introduction
About LEGO https://www.lego.com/en-au/aboutus
A short history of the LEGO Group
Ringen, J XXXXXXXXXXHow Lego became the Apple of toys, Fast Company, 8 Jan 2015, viewed on http://www.fastcompany.com/3040223/when-it-clicks-it-clicks
News XXXXXXXXXXHow Lego became the world's biggest toy company, News.com.au, 13 Jan, viewed on http://www.news.com.au/finance/business/how-lego-became-the-worlds-biggest-toy-company/story-fnda1bsz XXXXXXXXXX
Robertson, D., & Breen, B. (2013). Brick by Brick: How LEGO rewrote the rules of innovation and conquered the global toy industry. London: Random House Business Books.
LEGO Background Material
A cartoon video tells the traditional Lego story (17 min). The video tells the birth of the Lego System and the Lego City product line
LEGO 2016, Annual Report 2016 viewed on https://www.lego.com/en-us/aboutus/news-room/2017/march/annual-results-2016
Bloomberg interview with CEO Jørgen Vig Knudstorp in XXXXXXXXXXmin).
http://www.bloomberg.com/video/lego-ceo-knudstorp-on-performance-growth-outlook-LzsCco8ORgGkHR_3ujJ~2w.html
Metcalf T. LaFranco R. 2013, Lego Builds New Billionaires as Toymaker Topples Mattel, Bloomberg News, 14 March 2013, article and interview with Jørgen Vig Knudstorp in XXXXXXXXXXmin), available on http://www.bloomberg.com/news/ XXXXXXXXXX/lego-builds-new-billionaires-as-toymaker-topples-mattel.html?cmpid=yhoo
Tyler Brule's interview with Jørgen Vig Knudstorp in XXXXXXXXXXmin.)
http://monocle.com/film/business/q-and-a-ceo-of-lego/
Reuters, 2014, Lego expects to keep on outperforming toy market, 27 February 2014, viewed on http://www.reuters.com/article/2014/02/27/us-lego-idUSBREA1Q0YX XXXXXXXXXX
Starvish, M. 2013, How Lego grew to global dominance, 18 March, Forbes, viewed on http://www.forbes.com/sites/hbsworkingknowledge/2013/03/18/how-lego-grew-to-global-dominance/
LEGO Supply Chain Management
The National Geographic video (45 min) provides an overview of what LEGO does. It is a few years old and the Lego Universe did not pan out as Lego expected. Lego Universe was shut down recently.
Cooke, J. 2009, Lego's game-changing move, CSCMP's Supply Chain Quarterly, Quarter 3 2009, viewed on http://www.supplychainquarterly.com/topics/Logistics/scq200903lego/
Foss, N.J. Pedersen, T. Pyndt, J. & Schultz, M. 2012, Chapter 3: Lego redefining boundaries, p.41-71. Innovating Organization & Management: New sources of competitive advantage, Cambridge University Press, New York. Course resource online (CRO) available from the CQUniversity Library on http://library-resources.cqu.edu.au/cro/protected/mgmt20128/mgmt20128_cro8840.pdf
Larsen, M.M Pedersen, T Slepniov, D 2010, Lego Group: An Outsourcing Journey, available on http://library-resources.cqu.edu.au/cro/protected/mgmt29002/mgmt29002_cro8502.pdf
Oliver K. Samakh E. Heckmann 2007, Rebuilding Lego: Brick by Brick,
Strategy+business, No. 48, Boos & Company, viewed on http://www.strategy-business.com/media/file/sb48_07306.pdf
LEGO Asia and China
LEGO aims to build in China. Video interview with CEO Knudstorp about investments in Asia, viewed on http://www.bloomberg.com/news/videos/b/d2c47b07-981e-4cf5-a918-7bc194c54545
LEGO Press release about China Investment, viewed on http://aboutus.lego.com/en-us/news-room/2013/march/lego-group-to-build-factory-in-china
Ren, D XXXXXXXXXXLEGO builds presence in China toy market, South China Morning Post, 28 April 2014, viewed on http://www.scmp.com/business/companies/article/1498472/lego-builds-presence-china-toy-market
Rolander, N XXXXXXXXXXLego Looks to Build in China: Danish Toy Maker Looks to Replicate Success Enjoyed in West, , Wall Street Journal, 27 February 2014, viewed on http://www.wsj.com/articles/SB100014240527023047099 XXXXXXXXXX
LEGO Movie
'The Lego Movie' trailer (3 min), the premiere is February 2014 in the US & EU.
Weintraub, S. 2014, Producer Dan Lin Talks THE LEGO MOVIE, Collider, viewed online
http://collider.com/dan-lin-lego-movie-sherlock-holmes-3-interview/
Bloomberg 2014, Lego Movie Designed for My Kids: Producer Lin, Bloomberg, 4 minutes interview with producer Dan Lin viewed on http://www.bloomberg.com/video/wanted-to-make-movie-kids-and-i-can-watch-lin-Xn4hn2EhRwW6sDoe4T6wKg.html
Gillette, F. 2014, Lego goes to Hollywood, Bloomberg Business Week, 5 February 2014, viewed on http://www.businessweek.com/articles/ XXXXXXXXXX/lego-movie-toy-brands-minifigs-entrusted-to-warner-bros-filmmakers#p3
News 2014, Lego movie is the best piece of marketing ever,
News.com, 14 April 2014, viewed on http://www.news.com.au/finance/business/lego-movie-is-the-best-piece-of-marketing-ever/story-fnki1jcy XXXXXXXXXX
General Q&A
What is referencing? How do I reference?Please have a look at the below resources from the library and the Academic Learning Centre (ALC):https://www.cqu.edu.au/student-life/services-and-facilities/referencing;https://www.cqu.edu.au/student-life/services-and-facilities/academic-learning-centreWhat is an essay and what does it look like?Please make use of the ALC for support on how to prepare for and write an essay:https://www.cqu.edu.au/student-life/services-and-facilities/academic-learning-centreHow can I access the reading material?Here is a link to the library:https://www.cqu.edu.au/student-life/library- please get acquainted with the services and resources the library has to offer; you will need this for ANY unit, not just this one. There is a search box on this site as well, which you can use to search for reading material. The following link takes you to the services website of CQU library:http://libguides.library.cqu.edu.au/library-services- there are lots of useful guides and FAQs that help you look for literature for ANY unit you are studying. Some website articles are hyperlinked for your convenience but it may depend on where you are if you can access them immediately (please note that academic articles are provided thru CQU library which is subscribed to academic journals - therefore, you will not have to pay to access these). If you are on campus, you should be directed to the correct resource directly by using the hyperlink. If you are off campus, you may need to log on with your student ID and password, but some journals may require alternative passwords. Please have a look at the library guidelines to accessing journals with passwords:http://libanswers.library.cqu.edu.au/faq/26771Can we have sub-headings or a detailed structure to use for our essay?No, an essay does not have sub-headings as it requires you to present a number of main ideas or arguments in a logical manner to address the task (don't forget introduction and conclusion!).How do we submit our essay?Please submit it electronically via the Moodle site. Preferred format is MS Word.How do we submit our video?You can either submit the file (e.g. MP4) via Moodle, the same way that you submit a written document, or you can upload it to YouTube and then submit a (Word) document with the web link via Moodle. The YouTube option is the only option if your video file is really large. Details of how to upload a video to YouTube can be foundhere. Please remember that uploading files can take a little time, so don't try to do this last minute.What privacy settings do I use for my YouTube video?Do NOT set your video to 'private' - if you do this, the marker will not be able to view your video and you may end up with a mark of zero. Please set your video to 'unlisted,' so that the marker can view it but it will not be publicly available. Please make sure you check if the web link works before submitting and note that it has to be a specific link - submitting a generic link to YouTube (www.youtube.com) may also result in a mark of zero.Does the video require me to do a voice-over with some PowerPoint slides?No, this is not a requirement. You may do that but it is a rather boring approach to making a video. It is completely up to you how you would like to design and deliver your video, so please be as creative and innovative as you can be!Do we have to be visible in our video?You can do whatever you want in the video, as long as you address the task. Therefore: no, you do not have to be visible in the video; you can use audio plus some creative approach to displaying the content.What video format can we submit?MP4 format.
What if I submit late?Please refer to the university policy (available through the web link on the Unit Profile).
Can I include appendices in the essay?Please avoid appendices in an essay.How can I submit multiple documents (e.g. essay and video) via Moodle?You can upload multiple documents BEFORE pressing the 'submit' button. Please do NOT press 'submit' until you are truly ready to submit! This means: upload everything you need before hitting the button. After you have pressed 'submit,' you will NOT be able to make changes to your submission and it will be marked as submitted!Can I see an example of a video?Yes - there are three very different videos available on the unit website. Please note that the assessment task that these videos address are very different from the task you have been given, which also explains the length of some of them. Please use these to get inspired but do not think these are brilliant examples of what a video should look like.Is there a maximum file size for Moodle uploads?I.e. how large can my video file be? Moodle allows files iof up to 100MB. If your video is bigger than this, please use the YouTube option.