MN5563 Managing Technology & Innovation (MTI) Assignment
Main objectives of the assessment:
To enable students to exhibit their appreciation of the module material concerning innovation management relevant to global engineering enterprises.
Brief Description of the assessment:
Quantitative and qualitative evaluation based largely around a high technology product development covering most aspects of the taught module and inviting discussion and speculation to show awareness. The report is in four parts worth 25% each.
ASSIGNMENT: Managing Technology & Innovation (MTI)
A major consumer electronics firm of your choice (such as Sony, Logitech, Hewlett Packard or a similar manufacturing firm) has the opportunity to develop electronics for civilian Unmanned Aerial Vehicles (UAVs). UAVs can be remote controlled aircraft (which are controlled by a pilot at a ground control station) or can fly autonomously based on preprogrammed flight plans (for geological survey purposes, for example) or more complex dynamic automation systems (for traffic incident monitoring, for example). The assignment is to investigate the potential market using market research to gain insights into customer perspectives; to prepare a market forecast and make innovation management proposals.
Prepare a formal written report:
Prepare a Word document of around 12 pages (20 pages maximum) and write formally (i.e. avoid use of "I" or casual terms). Use charts/figures as appropriate with workings (preferably tabulated). For higher grades: discussion giving insights into the firm's situation; the management implications and making sector comparisons is expected as well as appropriate use of business/management terms and evidence of wider reading.
Start each of the four parts on a new page (this is to aid the marking process).
Part 1 - Innovation Review
a) Stakeholder Analysis: identify the various stakeholders for the proposed development and examine their likely viewpoints and concerns. Follow this with a short summary of the key items of the likely project concerns.
b) Innovation Management: Firms looking to innovate and develop new products may use 'Joint ventures' - explain this concept with (relevant) company examples.
Part 2 - Understanding Customers
a) Product Attributes: use Analytical Hierarchy Protocol (AHP) to examine how important each of the Factors (given below) are relative to each other by calculating the Relative Weightings for each. Show your Matrix (and workings) for 3 (or more) different UAV field applications (to be clearly explained). Rank the weightings and comment on your results.
Demonstrate insights into the perspectives of an 'end user' (the client requiring a survey).
Cost: using a specific system (the UAV) reduces the job (the survey) cost
Convenience: using a specific system (the UAV) would improve job ease (access)
Control: using a specific system (the UAV) increases my ability to control job
Time saving: it's faster by using a specific system (the UAV) to perform the job
Note: please do not contact individuals directly (use information publicly available).
b) Further Research: summarise what you have learnt from this field research and make proposals to research civilian UAV systems further for a manufacturing firm.
Part 3 - Innovation Planning
a) Market Forecast: prepare a market forecast for the UK market using the 'Consumer Adoption Curve' shown below with two years per category. The forecast is to be based on UK Market size projections of £5NN Million over the product lifecycle where NN are the last two digits of your student id. Forecast Sales Revenues per category based on the likely Market Share for the firm (to be explained) and Projected Profits per category based on a Profit Margin for this project (between 24% to 40% is typical).
Note: Explain your market forecast(s) showing your knowledge of consumer adoption categories. Show your workings (exclude taxes). State any assumptions. State sources.
b) Marketing and Innovation: discuss the nature of 'diffusion' for emerging technologies and the importance of managing product development (including time to market) for a firm manufacturing products of this nature.
Note: wider reading is expected including academic articles which are accessible online via Brunel library (e.g. using the "Summon" search engine or the "Emerald database").
Part 4 - Innovation in Practice
Innovation Case Study: evaluate using the course theory and materials recent product developments for a global product (for example, automotive vehicles) or by a manufacturing firm of your choice (for example, Honda or Caterpillar). What 'competences' did they need to develop or acquire? How were any technology 'gaps' overcome? What innovation strategies did they use?
Note: ensure you apply the course concepts when assessing the case study firm.