MGB226 Innovation – Knowledge and Creativity

Innovation is a creative process. This assessment involves selection of an innovative idea of your own and drawing up an action plan for implementing the idea.

1. You are required to identify a significant personal, local or national problem requiring an innovative solution and recommend a solution that addresses the feasibility and implementation of your innovation.

2. You are required to write a report and propose specific actions that will advance your idea by analyzing relevant practical and conceptual issues.

Individual Action Plan Structure:

1. The innovation – Identify a problem and discuss an innovation that may address it, showing an understanding of the particular market and potential customers. Describe the characteristics and value of your innovation.
2. The context & feasibility – Discuss relevant and key contextual factors such as political, economy, industry/market, social, regulatory factors that may impede or facilitate the development and implementation of the innovation.
3. The organizational requirements for driving and implementing innovation – In what way do you want your innovation to be implemented and reach others? Do you imagine a new start-up company, a non-profit organization, an existing company of some kind, or some combination of these possibilities? Why do you think this is a right path for implementing the innovation? Please justify.
4. Recommend an Action Plan – You may present this section either as a detailed table or as paragraphs with different headings and if you think it is required you may add other items than those suggested below and the plan should not necessarily be limited only to the suggested items such as:
   1. Action steps & objectives:  What needs to be done? And by what date?
   2. Team requirements:  Who will take the actions? Responsible persons who should take the actions.
   3. Necessary resources:  What resources are needed to implement the innovation (e.g. finance, human, materials, technology, process, etc. …)?
   4. Potential Challenges:  Are there any potential challenges that may impede completion? How will you overcome these?
   5. Collaboration plan for implementation: What key individuals and/or organizations should be informed/involved with these actions? Why these individuals/organizations are needed?
   6. Outcomes:  What would be the final outcomes?