BUS1DIB Disruption in Business

Assessment 1: Your Disruptive Idea (Part b)

Overview:

The aim of this assessment is to consolidate some of the concepts you have learnt on LMS and in class to create a new disruptive idea. Below you will find the description of the requirements.

Description:

You are required to come up with a unique and creative idea for a product / service / function that can be used by a larger customer base that is disruptive for a particular industry. Your idea could be new to the world or an improvement to an existing product / service / function. Ideally, the idea should be both creative and realistic. It would be sensible to come up with an idea that can use existing technology. The idea should be both disruptive and functional (practical). Therefore, things like time travel and other non-existing technological ideas will not fulfil the requirements of this assessment.

Once you come up with an idea, you should use key words of the idea to search on Google if it already exists and/or there are competing products. If it already exists, you will need to change the idea. If there are competitors, you will need to explain why your product is superior.

Note: If you are repeating this subject, you cannot use the same idea you used in a previous semester. If this occurs, your submission will be given 0 marks.

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Specific Requirements:

Part b: Final report of your idea (Grade: 25%)

1. Due date: please refer the LMS Assessment block
2. You should provide a report of 1500 (+/-10%) Provided your idea was approved from part a, you can use entirely or parts of your draft in this report.
3. Use of the template provided is compulsory.

4. In your document, you will need to include the following:
   • An overview description of the idea e. what it is, how it’s used, etc. If you are using a specific technology, it’s good to mention that. If competitor products are in the market, provide a short comparison of why your idea is superior. Describe your target market.
   • Mention what industry will be Explain how and why your idea is disruptive.

• The Business Model Canvas for your
• Mapping of your idea to the top 10 innovation framework and explanation of inclusion of each item that you have used from the
• Description of how data being used to support your idea. You will need to answer the following sections:
  • What type of data will be gathered?
  • How will this data be used?
  • How is value created for the customers using this data?

5. You must provide a reference list including intext citation within the writing.

Grading

• Refer to specifics of the grading criteria in the
• The assessment needs to:
• be turned in on time (via LMS).
• meet formatting and documentation requirements (word/pdf, minimum 12 point font, etc.)
• use appropriate headings and subheading with proper paragraph segmentation to increase clarity              (use        the     peel  method              in    your    paragraphs    - https://www.studiosity.com/blog/how-to-structure-paragraphs-using-the- peel- method)
• be “reader friendly” (e.g., free from obvious spelling and grammar errors, concise, persuasive)
• demonstrate the application of the various frameworks and concepts

Finally, you will need to ensure that you use examples and referenceable facts to support your arguments. Facts (for example “73% of Australians are in favour of electronic banking”) beat assertions (“Lots of Australians are in favour of electronic banking”). Facts that are conventionally accepted (for example, “the sun will rise in the East tomorrow morning”) do not have to be substantiated, but facts that are not in the general knowledge of the reader should be substantiated from an academic source. You will need to use APA7 referencing style in your document (https://latrobe.libguides.com/apa7).