Module Guide: Innovation and Entrepreneurship
Be able to create a culture of continuous improvement
You will learn….
Organisational features
Culture including equality issues, type of organisation eg. co-operatives; structure, encouraging input from employees, communication structures (two-way communication), communication with all stakeholders, role of Government/legal requirements, research and development. Leadership and management styles
Encouraging discussion and consultation, consultative management styles leadership style, supporting communication – team meetings, discussion groups, receiving suggestions etc, acceptance of risk.
Learning organisations
Cross organisational and collaborative working, team working and learning seeking feedback; shared values, goals, beliefs, strategy; learning incorporated into practice, encouragement of new ideas, information systems to support learning and knowledge management, investment in staff development.
Approaches to change
Top down/bottom up, Kotter and Schlesinger – education and communication, participation and involvement, facilitation and support, negotiation and agreement, manipulation and co-option, implicit and explicit coercion, incremental and transformational change, use of external standards eg. ISO 14000 and ISO 9001.
Understand factors that determine market potential and creativity
You will learn….
Market conditions
- PEST (Political, Economic, Social/Ethical, Technical)
- Competitor analysis e.g. characteristics and strategies of the competition
- estimating the market size
- Gaps
- For the new products or services
- Emerging trends e.g. due to aging population, as a result of new technology
- Changing requirements
Target markets
- Socioeconomic
- Age
- Gender
- Occupation
- Sources of finance
- Special factors
- Personality indicators
- Geographical
Be able to develop a business case
You will learn….
Develop vision/aims and objectives (in relation to….)
- Market conditions
- Target market
- Market gaps
External factors
- PEST (political, economic, social, technological)
- Gap analysis
- Market conditions
Specify
The product e.g. details, dimensions, purpose, longevity, target market, international or national market, pricing, distribution and marketing
Business structures and systems
- Organisational structure
- Resource management systems
- Communication and customer service
- Technology requirements/systems
Forecasts
- Financial forecasts
- Physical forecasts
- Sales forecasts
- Short and longer term
Business responses
- Use of contingency funds
- Closure
- Insolvency and bankruptcy
- New markets
- More funding
Be able to pitch a business proposal
You will learn….
Pitch for a creative business idea
- Present persuasive case
- Provide supporting documentation
Present documentation
- Vision and aims
- Needs and target market
- Business systems
- Forecasts
Innovation and Entrepreneurship – Assessment Weighting Information
This report represents 60% of the total assessable marks available for this module
The presentation represents 30% of the total assessable marks available for this module
To successfully complete this module, you need to complete a 2,000 word scenario-based business planning report and a 10 minute presentation (including briefing paper).
Scenario-based Report –
The Social Cafe
business planning report and presentation
You have recently taken on the role of Innovation Manager in a (hypothetical) organisation named ‘The Social Cafe’ which needs some innovation and inspiration to initially help the company to compete and survive in the short-term and hopefully grow in the long-term. This organisation operates as a domestic company in the south of England with just three cafes in London, Canterbury (Kent), and Birmingham (West Midlands). The organisation has decided to introduce the concept of continuous organisational improvement and you have been asked to lead this development into expanding upon the current product range which The Social Cafe offer. Before embarking on this work you decide that it is necessary for you to complete some detailed thinking in a number of key areas. In order to do this you have initially being requested to write a business planning report which addresses the key areas that you will be faced with and how you intend to overcome them in order to make the innovative idea become manifest for The Social Cafe.
You have also been requested to carry out a presentation for your manager. You will need to do a briefing paper to support your presentation. This will need to be handed to the manager at the time of presenting.
Hypothetical Organisation – The Social Cafe – Useful additional details
- Operates in three locations (one store in each location)
- Each store currently employs between 5 – 8 staff in each café
- The Social Café is a committed environmentally and socially conscious café which passionately aims to create a socially conscious clientele base.
- They are part of the “suspended coffee scheme” in the UK.
- The majority of profits earned by The Social Café is reinvested into either the community they are a part of or another charity organization. Majority of capital for expansion and new projects come from interested “angel investors”.
- They purchase their goods from local farmers and suppliers whenever possible so they may build strong relationships with other local businesses. They want to help protect the environment – Buying locally means that goods have less distance to travel, cutting back on greenhouse gas emissions and reducing the volume of packing material needed. Moreover, they make sure that environmentally friendly products are used.
Report Tasks
(a) Analyse the ways in which your new innovative concept can create a culture of continuous improvement at The Social Cafe.
(b) Analyse the factors that determine market potential and creativity and how these factors will impact upon the new innovative concept at The Social Cafe.
(c) Develop an appropriate and feasible business case for the new innovative concept at The Social Cafe.
(d) You will also need to do a 7-10 presentation to pitch your new innovative proposal appropriately to your manager.
We need to use the SWOT Analysis, in table format.
Presentation Task – Pitching your innovative proposal
(d) You will need to prepare and present a presentation to pitch your new innovative proposal appropriately to your manager (this should last 10 minutes in length).
Last Completed Projects
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