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MGMT20132 Innovation And Sustainable Business Development 3

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Question:

Assessment Overview

This assessment builds on the novel value proposition developed for an existing business or organisation in this assessment . Adjustments to the novel value proposition can be made based on assessment this reflection and feedback. The assessment is designed for students to develop innovation insight and practices by developing a novel business proposition for an existing business or organisation and aligned with the strategic trajectory of the business or organisation. The assessment is also designed for students to self-reflect on their own innovation capabilities and practices. The assessment involves writing a report for a novel business proposition within an existing business or organisation.

Assessment Task

You are required to write a report for a novel business proposal you have developed. The business proposal must build upon your novel value proposition developed in this assessment for the existing business or organisation selected in assessment. You must use appropriate headings to structure the body of the report. 

Your report must demonstrate:

  1. Logical and persuasive articulation of: business model description; value proposition development; business operations development; supply chain development; competitive advantage; financial value capture and strategic fit.

  2. Logical and persuasive argumentation in regard to how assumptions and uncertainties related to: customer desirability; technical feasibility; and financial viability have been addressed to date and how they will be addressed in the future as described in a phased development plan.

  3. Logical and persuasive argumentation for the selection of the innovation tools and techniques used to support the report findings and recommendations. These must be beyond the tools and techniques used in assessment 1. Minimum five (5) additional tools and techniques must be selected from the provided list of tools and techniques.

  4. Logical and persuasive application of the selected innovation tools and techniques used to support the report findings and recommendations. These must be different to the tools and techniques used in assessment 1. Minimum five (5) additional tools and techniques must be applied from the provided list of tools and techniques.

  5. Candid and critical self-reflection about assessment 2 tasks including: a reflection on the development of personal innovation capabilities and practices; identification of own personal strengths and weaknesses; supported with suggestions for self-improvement.

  6. Clear flow of thought throughout the report with: a convincing executive summary; clear and succinct purpose described in the introduction; relevant structure and content within the body of the report; and a clear and succinct conclusion.
 

Answer:

Introduction

The report is focused on further evaluating and refining the novel value proposition which was created in the previous assessment. Previously some innovative value propositions were suggested in view of the issues that are related to the operations of Qantas Airways. It was found previously that the two main challenges that are faced by the organization are big data management due to the constant changes in technology and challenges concerning the industry, innovation and infrastructure. The proposed innovative values were in regard to the introduction of comprehensive platforms for data management, Aircraft oriented artificial intelligence systems and robotic logistics support for the baggage transport and handling of customers. The present report is concerning the actual implementation of these innovative value propositions by the organization. The real-time factors that can affect the implementation processes are identified. Subsequently, the capability of Qantas to transform the proposition made into a physical products and the implications concerning the customers.

Business model description

There are some important elements that need to be described as per the disciplined entrepreneurial canvas to understand the implementation requirements.

Business model description- The business model would be innovative as in this case the development of the AI, data management systems and robotics would entail the effective introduction of these processes. A service enhancement model would be selected to develop the innovative aspects of the business. The robotics would be introduce to decrease customer management time (Dodgson & Gann, 2018). The data platform would be used to enhance the knowledge base of the consumer. Additionally, the AI enhanced aircraft intelligence technology would improve the security of customers.

Value proposition development- The development of value proposition is important as it helps to understand what value the innovative measures would provide to the business. The main value that the three innovative measures brings is enhancement of customer management. Customer satisfaction can be improved and data management would become easier for the organization.

 


Business operations development- The operations would be greatly developed as the new technologies would enhance the prospects of information management and customer engagement. Robotics can improve the logistics functions. The data platform can make knowledge management easier. The implementation of aircraft intelligence can be done through the optimization of the developmental process.

Supply chain development- IT teams need to be engaged in order to develop the supply chain. Qantas needs to collaborate with large IT project management teams to develop all the innovative tools required to implement the business proposition. The robotics can be developed by technology organizations engaged in robotics development. A collaboration of more than one IT companies can be required to enhance the supply chain.

Competitive advantage- Qantas is the largest Airline in Australia. The value propositions suggested are unique. Although many other airlines in the country are focusing on implementing AI, data technology and robotics, they are currently not capable of implementing them at such a large scale (Hannula & Harviainen, 2016, May). Hence, the project can provide high competitive advantage to Qantas if completed successfully.

Financial value capture- The project for the development of data analytics platforms can cost the organization around 130,000 AUD. The development of robotics can be more expensive as estimated costs can be around 600,000 initially. The cost of the Aircraft intelligence can be around 450,000 AUD. Hence, the total cost can be around 1,180,000 AUD. Considering the revenue the company can earn, the value is good.

Strategic fit- The resource management capacities of Qantas are good enough to facilitate the implementation of such a large scale project. The financial, technological and human resources can be effective in implementing the systems.

 

Addressing assumptions and uncertainties

There are certain assumptions and uncertainties that have been made about the customer desirability, technical feasibility and financial viability. They have been addressed by the airline organization to a certain extent and needs to be addressed further in the future.

There were found to be uncertainties in regards to the tastes and preferences of the diverse customer base that the company caters to. In this case, diversity management has been a very important area in Qantas due to its worldwide operations. The company undertakes various researches in relation to the technological developments that customers like. Presently, the company is developing knowledge management tools that help to address the queries of the customers (Xian, 2018). The company can implement minor versions of the systems and take customer feedbacks in order to know their opinion in relation to the newer value propositions. The customers’ dominant tastes can be known before the complete implementation of the innovations.

It was found that customers often like to get the enhanced services without extra costs. This is a major issue in regard to the effective implementation of the innovative technologies as the customers might not actually like to pay extra for the service. Presently, the company is growing its market. It is focused on utilizing this factor towards controlling the costs that are associated with innovative measures. However, minor increases in pricing strategies can be better for the customers as customers can get far better services by paying marginally extra. The development of lesser expensive technologies can help.

Financial viability was found to be a major factor that guides the implementation of the newer processes. The expansion of the target market was found to be effective in covering for the costs of the airlines. The company has already started newer services to newer destinations across the globe. This can improve the expansion of the target market (Townsend et al., 2018). The organization is consolidating its market in the Middle East, which can be highly profitable in the coming years. Hence, the development of the target market in more promising markets can increase the financial viability. The other companies are not as effective in the International market development as Qantas.

 

Selection of innovation tools

Some additional innovation tools and techniques can be selected in order to increase the value of the innovative measures that have been previously suggested. This can help to improve the value propositions further. The tools can also help to manage innovation more effectively.

  1. Brainstorming- Brainstorming is an important tool for innovation. It makes the innovators think about the various possibilities that can be realized through the innovation. The most important questions are: What can be done?, How it can be done? And What are the things that can go wrong.
  2. Empathy mapping- Empathy mapping traces the actual things that the customers have gone through while using the services. Their experiences are mapped in accordance with what the customers are able to see, feel, hear and think.
  3. Belbin’s characters- This is an innovation tool that can help to understand the behaviours of the customers. It divides the customers into 9 important roles that they can have concerning the services that they receive (Bocken et al., 2019). These roles can be broadly classified into act-oriented roles, subject-oriented roles and communication oriented roles.
  4. Remember the future- This is an innovation tool that focuses on understanding the success factors that guides the customer’s perception. The most important questions that are asked are concerning the future implications of the products and how it can make the customers happy in the future.
  5. A day in the life- A day in the life is a tool that helps to effectively design technology and customer services. This measures the things that the customer does during the day while availing the services are mapped. This helps to provide an innovative solution to the problems faced by the customers.
 

Application of innovation tools

The tools mentioned above can be applied to the findings and recommendations that have been provided previously. The effectiveness of the tools can be thus, measured.

Brainstorming can be used to understand how biometrics can be implemented in the organization. As mentioned above the three questions become very important. These are What can be done?, How it can be done? And What are the things that can go wrong? Hence, the biometrics need to be implement effectively across the airports and aircraft and a primary list of issues need to be created before the implementation process. The questions can help to improve the feasibility of application.

Research activity can be effectively enhanced through the utilization of the empathy mapping techniques. The feelings of the customers need to be measured and the best solutions that can be applied to positively enhance those feelings need to be researched. Investment in research needs to be done in the same way (Dew & Dew, 2018).

Belbin’s characters would be very important in the development of the biometric systems as the behaviours of the customers can be traced effectively. Subsequently, the investment functions and the research functions can be enhanced through the implementation of the technique.

Remember the future is an important tool in the implementation of the innovative processes. It can help to understand how the processes can affect the development of the organization in the future. The investment in biometrics need to be done in a manner that can be more effective in view of the future developmental requirements (Lounsbury et al., 2019). The future value can hence, be effectively calculated.

A day in the life would be an important measure of the value that the customers can gain from the implementation of the biometric systems. A day in the life can measure exactly how the customers can be benefitted by the introduction of the biometric systems. This can then be used to understand how far the biometrics can be developed.

Self-reflection on Assessment 2

Completing the task has helped me to understand more about my personal innovative capabilities. It is important to mention that this report has been more important for me in developing better understanding of the various concepts that are related to innovation. The report has been more important in terms of understanding the implementation process of innovation. My personal innovation capabilities have been developed as a result of the critical evaluation process that I had to engage in. Before undertaking this report, I was unaware of the different approaches that needed to be taken in order to implement the planned innovative processes. I believe this report has been very important for me in exploring the multiple facets of innovation. My personal innovation capabilities were enhanced as I learnt about the various aspects that are connected with the implementation of innovative technologies in organizations like Qantas. It is important to mention some of the personal strength and weaknesses that I have been able to identify as a result of engaging with the study.

I found that I had gained effective strength in terms of the analytical skills that are require to develop innovative approaches. Moreover, I found that I was rational in determining the need for innovation and its effective implementation. I understood that my strength lies in finding the most important elements that are connected with innovation. I can develop innovative processes in accordance with the financial implications that are sought. Hence, I have good calculating abilities.

I also identified some important weaknesses. I was unable to communicate the innovation requirements to the target audiences. Moreover, I need to develop more empathy in understanding how the customers can be benefitted by an innovative process. Another weakness that I have is in regard to finding the gaps in the innovative process. I had some difficulty in finding the strategic fit concerning the innovative process in this report.

Conclusion

The implications of the study point towards the fact that Qantas has the ability to effectively implement the innovative processes. It is mainly owing to the fact that the company has a strong financial base that can be used to support the innovative processes. Hence, innovation planning and implementation can be aligned as per the essential values that are associated with the organization. The innovation tools have been effective in determining some of the important areas that are connected with the implementation process. The personal strengths and weaknesses were importantly found. It can be important in evaluating the future developmental needs concerning innovation capabilities.

 

References

Bocken, N., Strupeit, L., Whalen, K., & Nußholz, J. (2019). A review and evaluation of circular business model innovation tools. Sustainability, 11(8), 2210.

Dew, R., & Dew, R. (2018). How to Design Incremental CX Improvements', Customer Experience Innovation.

Dodgson, M., & Gann, D. (2018). Innovation: A very short introduction. Oxford University Press.

Hannula, O., & Harviainen, J. T. (2016, May). Efficiently inefficient: Service design games as innovation tools. In Service Design Geographies. Proceedings of the ServDes. 2016 Conference (No. 125, pp. 241-252). Linköping University Electronic Press.

Korshunov, G. I., & Polyakov, S. L. (2019, December). Creation of cyber-physical systems based on basic structures in conditions of uncertainty. In Journal of Physics: Conference Series (Vol. 1399, No. 2, p. 022034). IOP Publishing.

Lounsbury, M., Cornelissen, J., Granqvist, N., & Grodal, S. (2019). Culture, innovation and entrepreneurship. Innovation, 21(1), 1-12.

Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8), 103773.

Teece, D., Peteraf, M., & Leih, S. (2016). Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, 58(4), 13-35.

Townsend, D. M., Hunt, R. A., McMullen, J. S., & Sarasvathy, S. D. (2018). Uncertainty, knowledge problems, and entrepreneurial action. Academy of Management Annals, 12(2), 659-687.

Xian, W. (2018). Case Study on Qantas of ITS Strategic Management: The High Flyer of the Airline Industry.

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