MKT520| Innovation audit report | Management
Task
Innovation is increasingly being considered as a core competency that organizations must develop. Companies that consistently innovate don’t rely on chance; they address innovation in a systematic way.
Your task is as follows:
- Drawing on a wide range of literature on innovation develop a framework that you could use to assess an organization in terms of innovation. Describe your framework and justify the critical elements (with reference to the literature).
- The next step is to apply this framework to a particular organization of your own choice. Where are the gaps? What is being done well, what areas need to be improved? Note: This organization may be your own workplace or an organization you would like to work for.
- Finally, develop a plan to address areas of weakness. You may choose to focus on a few key areas and discuss them in detail.
Note: If your chosen organization has a focus on services make sure that you choose literature that is appropriate for service innovation.
Getting started
- Carefully read through assessment items 1 and 2 as they are linked.
- Start reading about innovation. Your textbook (particularly chapters 1 and 4 and chapter 15 for service innovation) and the subject readings will get you going. Several additional references will be placed in resources in the MKT520 subject site to assist you further.
- If you choose to focus on a service, you will need to look at the literature on service innovation but you may still also find useful and relevant material on innovation as it relates to physical goods.
- Make sure you are able to clearly define innovation
- From your reading on innovation, start selecting key elements for your framework, choosing those most relevant for the chosen organization.
- Start thinking about how you will assess your chosen organization in relation to the various elements of the framework you create.
Please note that different frameworks will be developed by different students but they will generally share some common elements.
* Word limit includes executive summary but excludes reference list and appendices. Students may submit work that is +/- 10% of the word limit.
Your work should be referenced using APA-6 Style. For details of referencing requirements see:
* Word limit includes executive summary but excludes reference list and appendices. Students may submit work that is +/- 10% of the word limit.
PLEASE SUBMIT YOUR WORK AS A WORD NOT A PDF DOCUMENT. THIS WILL MEAN THAT FEEDBACK CAN INCLUDE COMMENTS WITHIN THE TEXT OF YOUR ASSIGNMENT.
Rationale
This assessment task is designed so that you can utilize your work experience in conjunction with your critical literature work on innovation to design a theoretical framework to conduct an audit of your workplace and make recommendations for change.
This task aligns with subject learning outcomes 1 and 2:
- to be able to critically reflect on the role of innovation in organizations and the challenges companies face in new product development.
- to be able to synthesize innovation literature to develop a theoretical framework for use in an audit of innovation practices of a specific organization and make recommendations for improvement.
Marking criteria
| Criteria to be Assessed | HD 85-100% | DI 75-84% | CR 65-74% | PS 50-64% | FL 0-49% |
| Use of relevant innovation literature to design and justify innovation framework
Value 30%
| Integration and originality in the selection and handling of relevant theory to build and justify framework. The wide range of sources integrated in a systematic way. | Insightful and appropriate selection of theory from a good range of sources to systematically build and justify framework. | Good selection of theory from a range of sources to build an adequately justifies useful framework. | The framework developed but limited research or framework incomplete in areas. Lacks justification of choice of elements. | Inaccurate or inappropriate use of literature on innovation. Framework not developed. |
| Critical evaluation of the chosen organisation
Value 30%
| Identifies and insightfully discusses areas of strength and weakness in innovation capabilities. Strong links to organisational context and relevant theory in evaluation. | Identifies and clearly explains
areas of strength and weakness in innovation capabilities.
Links to organisational context and relevant theory in evaluation
| Identifies and discusses areas of strength and weakness in innovation capabilities. Discussion of some relevant issues in theory and organisational content in the evaluation. | Simple discussion of areas of strength and weakness in innovation capabilities. Works reflects limited engagement with organisational context or relevant theory. Not all aspects of the task completed in sufficient detail. | Poor evaluation.
Significant gaps in knowledge of innovation and lack of understanding of the company’s capabilities.
|
| Recommendations to address areas of weakness
Value 30%
| Excellent recommendations made, linked to the evaluation. Theory used in an insightful way to justify recommendations and discuss the enhancement of innovation capabilities | Very good recommendations made, linked to the evaluation. Used theory systematically to justify recommendations and discuss enhancement of innovation capabilities | Good recommendations made, linked to the evaluation results / may not have linked back systematically to relevant theory | Some recommendations made / not well linked to the results of the evaluation or relevant theory | No recommendations made / no justification |
| Referencing using APA
Value 5%
| Highly accurate citations & reference list using APA-6 | Mainly accurate citations & reference list using APA-6 | Some inaccuracies in citations & reference list using APA-6 | Makes attempt to provide citations & reference list using APA-6 | Referencing is absent / not systematic |
| Presentation
Value 5%
| Polished and imaginative approach / very professionally presented | Logically organised / professionally presented / | Shows organisation and coherence. | Attempted to organise in a logical manner | Disorganised / incoherent |
Presentation
Requirements for presentation will be located in the resources section of the MKT520 Interact site.
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