PSB7003CL Entrepreneurship and Innovation Assignment Report: CW2 Analysis of Organisational Practices and Strategic Innovation Implementation, Singapore

CW2 – Criteria 1

Background of the organisation and its approach towards entrepreneurship and innovation.

1.1 Relevant description of the organisation’s background:

• Name and location of the organisation
• When the organisation started – age of the business
• Type of product/services offered by the organisation
• Size of the organisation – small, medium or large organisation
• Evidence based on the location it is operating
• Legal formation – sole trader/ partnership/ limited liability/ limited by guarantee
• Company’s vision and mission
• The strategy of the organisation that relates to innovation and entrepreneurship, how is it related to the purpose of entrepreneurship, i.e. value creation (apply tools from Week 2)

1.2 Critical evaluation of the practices / processes / services / products involved in the organisation’s approach towards entrepreneurship and innovation:

• What are the types of practices / processes / services / products you have chosen?
• To what degree are they innovative and why?
• How do you evaluate the innovation criteria of these innovations and why? Critically evaluate these elements (apply tools from Week 1)
• How are these innovations related to the value creation purpose of this organisation? (apply tools from Week 2)

CW2 – Criteria 2

2.1 Suggestions of specific new product(s), process(es), service(s), technology or business model(s) innovation that the student would propose to implement (apply tools from Week 3).

• What is the type of innovation that you are proposing – incremental, radical, disruptive (apply tools from Week 4).
• Justify why you say so and how you judge it as an opportunity (apply tools from Week 5) and how is it related to the organisation’s value creation (apply tools from Week 2).

CW2 – Criteria 3

3.1 Critical evaluation of the potential obstacles you may need to overcome as part of the implementation process

• List at least 3 obstacles that you can foresee in implementing your entrepreneurial or innovation idea from Criteria 2.
• For this section, you can include any obstacles relevant to:
  • a. Barriers to innovation (see Week 4)
  • b. Risk (see Week 6)
  • c. Business Failure (see Week 7)
  • d. Obstacles of business success at institutional level (see Week 8)

3.2 Critically evaluate each obstacle and how you may overcome the obstacles.

CW2 – Criteria 4

4.1 Critical reflection on potential outcomes you are hoping to achieve and a contingency plan.

• Reflect on the impact of the innovation on the triple bottom line – Profit, People and Planet (see Weeks 8, 9 and 10).

4.2 Discuss a contingency plan with alternative innovations in the event that the company faces unforeseeable challenges in implementing the earlier proposed innovations.