Innovation
Assessment 1-Individual Essay and video: Business Models
Assessment
Guidance
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:
e. Procter
& Gamble, United States (link). Manufacture of disposable nappies and many other products.
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 (2010) to
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.
Assessment references
You
should include at least 5 references and no more than 20 references in your
essay. All sources must be highly credible and fully referenced using the APA
referencing style.
Creative
video, 20% of the total marks for the unit
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
verbatim 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.
Assessment 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 (2010) business 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 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. 8%
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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