Innovative Business Proposition: Applying Design Thinking and Innovation Models

You are required to produce a 5,500-word report (+/- 10%) detailing an innovative business proposition by applying design thinking and innovation models, methods, and theories which explore the key characteristics of the innovation and creativity processes.

This assignment provides a vehicle for consolidating the knowledge and skills learned thus far in your BA journey here at UWTSD. It aims to encourage wider reading of available materials and reflection on what you have learned about the importance of innovation & creativity to business development, and the ability to critically review models and characteristics of the innovation processes.

This assignment is also aimed at exploring business opportunities you may wish to consider,taking to the next level in the near future.

You will be assessed:
1) on the appropriateness of the innovative product OR unique service you have identified.
2) the online store you are proposing to reach out to your customers and.
3) the skill and clarity with which you write this innovative business proposition in the form of a report.

 

START NOW: This assignment cannot be done well by throwing something together at the last minute. If you did do that you would be doing yourself a real disservice, as last minute collection of materials cannot be well structured and lacks evidence of understanding.

Because of the global coronavirus pandemic and the lockdown, you are restricted to generate a saleable innovative product OR a deliverable unique service that can ONLY be provided remotely. You are therefore expected to propose a suitable online retail store which will appeal to your customers.

I. Identify an innovative product to sell OR a unique service to provide
II. Propose an eCommerce website that will enable you to reach out to your customers FOUR major Issues to consider:

 

A) The innovative product OR unique service proposition:
What innovative product will you sell OR what unique service will you provide?
Who are your customers?
Where and how will you sell your product OR provide your services?
Do you have a name for your venture?
How do you intend to sustain your innovative business proposition?
Are there any competitors in this area?
If so, what are they doing? How will your product or service be differentiated from these competitors.
How do they sell their product OR provide their service?

 

B) eCommerce (propose to setup an online website) :
using SaaS e.g. Shopify
using a marketplace e.g. Amazon or eBay
creating content, including copy and photograph
using a Payment Services e.g. card, PayPal
If accepting card payments be aware of PCI-DSS compliance issues.

 

C) Marketing:
How will you promote your product OR service?
Who are your target customers? How will you reach them?
Consider the use of social media e.g. Facebook
Consider the use of paid search engines e.g. Google
Understand the role of customer journeys
Consider the use of email marketing;
Consider pre-launch promotion to gather email addresses (but be aware that you cannot just email everyone).

 

D) Privacy and Data Protection:
Be aware of:
GDPR/Data Protection Act 2018
Privacy and Electronic Communication Regulations (PECR)
the need for consent
Provision of facility to "opt out" of marketing communications
Need to support rights such as "the right to erasure"

 

Security and the importance of:
secure access to your cloud provider
sensitivity about default access and frequent changes
encrypting traffic in transit and at rest

 

You need to ensure that your report:
a) Is within the requested word limit of 5,500 +/- 10% words.
b) Uses a suitable report structure (including executive summary)
c) Is well presented and professional
d) Uses good grammar, spelling, and punctuation
e) Uses UWTSD Harvard Referencing Guide at https://uwtsd.ac.uk/media/uwtsdwebsite/content assets/documents/library-and-learning-resources/infoskills/Harvardeng_v.1.2.pdf
NB: Supplementary Task 300 words needs to be submitted to Turnitin by Week 6

 

Write an introduction for the report. This should include:
The innovative product OR unique service proposition:
What innovative product will you sell OR what unique service will you provide?
Who are your customers?
Where and how will you sell your product OR provide your services?
Do you have a name for your venture?
How do you intend to sustain your innovative business proposition?
Are there any competitors in this area?

If so, what are they doing?
How do they sell their product OR provide their service?
This introduction will form the basis for your report and can be resubmitted with the final report