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Slide 1 MGMT20132 Innovation and Sustainable Business Development Assessment overview Tage Andersson Background in engineering and business development before joining CQUniversity Danish/Scandinavian...

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Slide 1
MGMT20132 Innovation and Sustainable Business Development
Assessment overview
Tage Andersson
Background in engineering and business development before joining CQUniversity
Danish/Scandinavian and worked for Nokia with product and business development .
Responsible for Nokia 6210 from idea to commercialisation.
After moving to Australia I consulted and worked for companies such as Cochlear and Fujitsu before joining CQUniversity as lecturer.
I lecture in both operations management and innovation management courses.
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Classes and assessments
    Classes
    Lectures are focused on developing your understanding of important concepts and their application. Approx. 45 min.
    Workshops are focused on developing your ability to apply concepts, tools and methods. Approx. 2 hours.
    Assessments.
    Workshops aim to prepare you for and get you to do actual work on the assessments.
    Assessment 1: Individual essay an short creative video: Business models (50%).
    Assessment 2: Group report and group presentation: The business case (50%).
    No exam.
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Assessment 1 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.
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Assessment 1 tasks: Business essay 30% (I)
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.
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Assessment 1 tasks: Business essay 30% (II)
        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 (Johnson, Christensen, & Kagermann, 2008; Zott, Amit, & Massa, 2011).
5.     Conclude by
iefly discussing the significance of your findings to the business and its business model and the future of the business.
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Assessment 1 tasks: Creative video (20%) (III)
    The creative video must focus on your essay's findings.
    The objective of this video is to develop your presentation skills and ability to explain difficult theoretical concepts to laypeople.
    To successfully complete this part of the assessment, you are required to produce a short video that summarises the key arguments of your essay.
    However, your video should not just be a ve
atim repeat of your essay. It should be a creative and unique descriptive explanation of the essay findings and supporting arguments.
    Make sure your explanations are concise and easy to understand by people with little business training. Students are rewarded for using the video medium effectively and creatively
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Assessment 1 Criteria
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%
Creative video (20%) marking criteria (20%)
8. Effectively uses text, audio, images and other appropriate methods of communication via video to explain the arguments to a laypeople audience. 4%
9. Explains the reasons for and significance of disruption by applying business model knowledge to a recent disruption from real life - as described in the above task description. 8% (This marking criteria relates to the above video task description: The creative video must focus on your essay's findings and summarise the key arguments of your essay)
10. Tone of the video is consistent, for instance, uses humour effectively and is professional in tone throughout. 2%
11. Quality of the video production. 2%
12. Creativity. 4%
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Answered Same Day Apr 21, 2020 MGMT20132 Central Queensland University

Solution

Abr Writing answered on Apr 23 2020
139 Votes
Title: Commonwealth Bank, Australia
Author:
Course Name: Innovation and Sustainable Business Development
Course ID: MGMT20132
Submission Date:
Table of Contents
Introduction    3
Business Model    3
Disruption    3
Impact Analysis    4
Opportunity Smart Connected Devices in Banking    4
Threats Smart Connected Devices in Banking    5
Business Model Framework by Osterwalder and Pigneur    6
Value Proposition- Product    6
Customer Segments- Customer Interface    7
Channels- Customer Interface    7
Customer Relationship- Customer Interface    7
Key Resource- Infrastructure Management    7
Key Activity- Infrastructure Management    8
Key Partners- Infrastructure Management    8
Revenue Streams- Financial Aspects    8
Cost Structure- Financial Aspects    8
Future of Banking    8
Conclusion    9
References    10
Introduction
Commonwealth Bank which has attained the stage of being the leader in providing its customers with the financial assistance that they need in Australia. The bank specializes in maintaining customer commitment and have started various measure that has helped them in achieving so. (commbank, 2018) The increase of technological advancement has definitely impacted the banking business in general. For example, earlier a personal banker used to find different ways and means to reach out to the clients to inform them about the possible overspending areas. But these days all this has been simply replaced by an app which is connected to the bank account and tracks the purchases to help the clients monitor their spending. (Techworld Staff, 2018)
Business Model
The concept of business model is used to describe a business. The business model of any business is basically used as a term that can be used to analyse the central components to any business. The business models are also under the preview of patent regulations. For example, Amazon has patented its one-click payment feature business model. (Jonas Hedman, 2018)
Disruption
The idea of disruption was introduced by Harvard Business Review. According to them disruption in business is when a company that have limited resources are able to achieve extraordinary things. These things challenge the way the business is cu
ently being conducted and provide with products and services that are increase the profit to more than what it used to be. (Clayton M. Christensen, 2018)
Impact Analysis
Opportunity Smart Connected Devices in Banking
Smart connected devices are those devices which are interconnected with each other via internet. By being connected to the internet they provide an amazing opportunity of collaboration. Many businesses can use these devices to run their business. They have now multiple opportunity to understand how their customers feel by using these smart devices to reach them and use the data to analyse on strategies to improve their business. Even in the banking domain these devices can be used to: (Jain, 2018)
1. Differentiation: They help differentiate by improving the existing services and products. Interconnected devices provide opportunity for various domains of bank to work in unison. They will be able to know the status of the customers application and what needs to be done regarding the same. Each department can contribute and that will save the customer time and that will improve the efficiency of the bank. (Dun, 2018)
2. Customer value: Customers are always benefitted with the addition of technology. More value is provided to them by the use of these devices. They also in turn help themselves by allowing the companies to use the data from these devices which allows them to
ing more curated products for the customers.
3. Product usage: These devices will help increase the usage of the specific products and that can be beneficial to the customers. 
4. Data management: These devices collect a lot of data. Efficient management of this data would be beneficial as they can help understand the patterns. (Lacto, 2018)
Threats Smart Connected Devices in Banking
There are various threats also that can be associated with these smart devices. (Dafalias,...
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