Problem
Choose a recent (last 5 years) innovation from one of the following industry sectors:
• Advanced Manufacturing.; Agribusiness and Food
• Artificial Intelligence ; Biotechnology
• Cyber Security; Mining - (equipment, technology & services)
• Medical & pharmaceuticals; Renewable energy
• Social entrepreneurship; Virtual Reality
Part 1
a) Analyse the unique value proposition of an innovation using a specific firm/company example. Detail the innovation's benefits that differentiate its value offering from the customer / end-user perspective; the demand side of the value proposition.
b) Distinguish and discuss the innovation type (incremental ...............radical).
c) How does the innovation offer unique / or superior value over indirect or direct competitive offerings? Consider substitution threats to the innovation that may diminish the SCA.
d) How may the value proposition be explored and applied further to enhance a competitive position or competitive advantage for the innovative company? What do you consider may be the next innovation by the firm you have chosen?
Part 2
a) How has the innovative firm sought to exploit knowledge and capability developed through your example of innovative activity?
b) Outline and discuss the business model used by the firm. How has the firm attempted to capture value from the innovation? -The supply side- (as chosen by you in Part A).
c) How has the innovative firm used or not used innovation management principles in their organisational processes and systems?