ubject Title Creativity and Innovation for Business
Subject Code ENT201A
Assessment Title Scenario Analysis
Graduate Capabilities a. Professional Expertise
b. Innovative Problem Solving
c. Technology and Information Literacy
Learning Outcome/s (found in the Subject Outline) a. Explain the nature of creativity and innovation.
b. Examine ways to turn creativity into insight, ideas, opportunities and action.
Assessment type (group or individual) Individual
Weighting % 30%
Word count 1100 (+/-10%)
Due day Sunday by 11:55PM of Week 5
Submission type Turnitin ?
Format / Layout of Assessment
(APA style for in-text references and
Reference list) Report:
ICMS Cover Page
?
Table of Contents ?
Executive Summary ?
Introduction
?
Findings
• Reflection of the chosen Industry
• Analysis of the key situational factors ?
Develop two (one positive, one negative) scenarios
?
Reference List ?
Appendices ?
Assessment instructions The beginning of creative thinking in business starts with careful analysis of the scenario. The world around us is dynamic and ever changing. Given in the face of this rapidly evolving era, it is absolutely essential to develop a solid understanding of the industry where you will operate. In this assessment you will undertake a scenario analysis of an industry. The goal is to understand the ins and outs of this industry so that you can build a comprehensive understanding of this industry. Scenario analysis is a great tool that helps to scan the environmental factors surrounding a business.
Although it is a fact that every single decision in your organisation is a choice under a degree of uncertainty, but scenario analysis can provide you some alternative states by predicting the future.
Your scenario analysis report should contain the following parts –
Executive summary
Provide a brief overview of your major findings presented in this report. This is where you need to summarise the main points of your project.
Introduction
You need to provide the reader with context about your idea; For example:
• Give a “name” to your idea • where did your idea come from?
• what is its purpose?
• why did you choose that particular product or service?
• what is the industry? (describe the level of competition)
Findings
Reflection on the chosen industry (You will need to include at least 5 reliable sources-No blogs)
Once you have collected your ideas on your selected industry and product/service, you will conduct research. The purpose of the research is to gain an understanding of its trajectory – past, present and future by looking at trends and developments:
• What historical information exists (how/what was made in the past?)
• Current product/service
o if you are working in something that exists, how is it currently performing? What is YOUR idea to improve it?
o if a new product/service, how is the current market being addressed – what alternatives (choices) exist?
• what are the important trends and developments that you seek to take advantage of?
You would need to link your idea with an industry and conduct your research accordingly.
Analysis of the key situational factors
As a result of your research you will define the key factors that can influence your decision making (remember to use tools as SCAMPER,
PESTEL, SWOT etc.)
Develop scenarios (2-one positive, one negative)
Construct the 2 scenarios and develop a narrative description for each. The scenarios need to be related to the purpose and based on your findings; so, you need to explain why you have created each scenario.
Readings for the assessment Ashkenas, R., & Manville, B. (2018). The Harvard business review leader’s handbook: Make an impact, inspire your organization, and get to the next level. Boston: Harvard Business Publishing.
Bilton, C., & Puttnam, L. D. (2007). Management and creativity: From creative industries to creative management. Milton: Wiley.
Websites;
Business News Daily https://www.businessnewsdaily.com/
Department of Industry, Innovation and Science https://www.industry.gov.au
Harvard Business Review – Creativity https://hbr.org/topic/creativity
Innovation Management http://www.innovationmanagement.se/
Intelligent HQ https://www.intelligenthq.com/
Assessment 1. Scenario Analysis – Marking Rubric
Criteria HD
(85-100) D (75-84) CR
(65-74) PASS
(50-64) FAIL
(0-49)
Depth of reflection on the chosen industry (30 %) Excellent and in-depth reflection on the chosen industry with adequate data and contemporary insights. Good reflection on the chosen industry with adequate data and contemporary insights. General reflection on the chosen industry with adequate data and contemporary insights. Very simple reflection on the chosen industry with adequate data and contemporary insights. Poor in-depth reflection on the chosen industry.
Analysis of the key situational factors (30 %) Strong evidence of synthesis of ideas presented and insights gained from the selected topics. Good evidence of synthesis of ideas presented and insights gained from the selected topics. Some evidence of synthesis of ideas presented and insights gained from the selected topics. Very little evidence of synthesis of ideas presented and insights gained from the selected topics. No evidence of synthesis of ideas presented and insights gained from the selected topics.
Develop plausible scenarios (30 %) A number of plausible scenarios are discussed in a coherent and logical manner. Some plausible scenarios are discussed in a coherent and logical manner. Some scenarios are discussed. Needs further development of the concept. Some scenarios have been discussed, although there is significant gap in understanding. No plausible scenario has been clearly articulated. Thoughts are unclear.
Formatting, referencing, and word count (10%) Excellent referencing Significant references are used by following the correct referencing style Appropriate references are used by following the correct referencing style Credible references are used by following the correct referencing style Marginal referencing. Overall referencing style is problematic and needs improvement. Poor referencing. Arguments are poorly supported with inadequate references
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