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Rationale By engaging in this group project, you are tasked with not only identifying but also critically analyzing an innovative idea within a chosen ecosystem. This process encourages the application of theories such as disruptive innovation, blue ocean strategy, or effectuation in a real-world context. Through this, the assessment aims to enhance your abilities to think strategically about innovation, understand its impact on ecosystems, and develop practical solutions for implementation, fostering a deeper comprehension of how theoretical frameworks guide the evolution of ecosystems. Overview In this group project, “Innovation Ecosystem Analysis and Proposal,” you and your team will explore an ecosystem of your choice. As part of a group of five, you’ll identify an innovation—be it a product, process, service, or business model. Your journey will begin with mapping the current landscape of your chosen ecosystem, followed by the unveiling of your innovation idea. You’ll then craft an execution scenario on how to implement this innovation, and predict how it will transform the ecosystem. This assignment integrates theory with practice, challenging you to use concepts like disruptive innovation, blue ocean strategy, or effectuation to bring your innovative idea to life. Through a written report, you’ll showcase your strategic thinking and how it can influence the ecosystem’s future. Task Components Ecosystem Description ~1000 words (10 points): Task: Describe the selected ecosystem, including its key components, actors, and dynamics. Criteria: Comprehensive understanding of the ecosystem’s current state, clarity in the description of its components, and insight into the interconnections within the ecosystem. Innovation Idea Identification ~1000 words (10 points): Task: Identify and articulate an innovation idea within the ecosystem. Criteria: Originality of the innovation idea, relevance to the ecosystem, and alignment with one of the theoretical perspectives discussed in the course. Execution Scenario ~1000 words (10 points): Task: Develop an execution scenario for the implementation of the innovation idea. Criteria: Feasibility of the implementation strategy, consideration of potential challenges and solutions, and a clear outline of the required steps for successful implementation. Ecosystem Evolution Analysis ~500 words (5 points): Task: Analyze the potential impact of the innovation on the ecosystem. Criteria: Depth of analysis on how the innovation could alter the ecosystem dynamics, identification of potential ripple effects, and insight into the future state of the ecosystem post-implementation. Collaborative Effort and Reporting (5 points): Task: Collaboratively prepare and submit a report that effectively communicates your group’s findings. Criteria: Clarity and coherence in the discussion of ideas, effectiveness of collaboration as demonstrated in the final output, and professionalism in the format and delivery. This includes: Clarity of Expression: Information is presented in a clear, concise manner, making complex ideas accessible. Engagement: The report captures and holds the reader’s interest, utilizing visual aids or storytelling where appropriate. Professionalism: The overall reporting style should be professional, reflecting the seriousness of the topic. Technical Quality: The file should be free of technical issues, with good layout and readability, and any visual aids used should be clear and relevant to the content being presented. Tip #1: Approach the task as if you are part of a team of innovation consultants working for a firm, analyzing the ecosystem with a professional mindset on behalf of your employer or client. Alternatively, approach it as if you are the founding team of a new venture, aiming to launch a business built upon an innovative idea. Tip #2: Use the theoretical perspectives learned from Weeks 5 to 8 as a guiding framework for discovering and executing opportunities. Allow these concepts and theories to shape your innovation strategy for the ecosystem without overwhelming it. You don’t need to discuss the theories in detail, but make sure to connect your discussion to them, ensuring a clear link. Focus on applying theory pragmatically to guide your opportunity discovery and execution strategy, keeping practicality in mind. We do not expect you to review the literature or the theories and concepts. Learning Outcomes The targeted Course Learning Outcomes for this assessment are: CLO 1 Apply relevant theories to critically distinguish between innovative and non-innovative entrepreneurship. CLO 2 Examine various types of innovative entrepreneurship in practice and their implications for entrepreneurs. CLO 3 Demonstrate understanding of the interrelationships between entrepreneurs, organisations, customers and communities in a local and global context through “entrepreneurial ecosystem” perspective. CLO 4 Communicate effectively practical and innovative solutions to contemporary entrepreneurial challenges. Assessment Guidelines In this task, you are expected to deliver the group written report on “Innovation Ecosystem Analysis and Proposal”. Content: Your Assessment 2 report structure should be simple and clear, following these steps: Introduction to Your Ecosystem: Begin with a captivating introduction that sets the stage for your analysis, including a comprehensive mapping of the ecosystem. Highlight the key actors, their relationships, resources available, and the overall dynamics. Innovation Idea: Clearly define the innovation you’re focusing on, explaining its nature, its relevance to the ecosystem, and the supporting theoretical perspectives (e.g., disruptive innovation, blue ocean strategy, effectuation). Implementation Strategy: Describe how you intend to implement this innovation within the ecosystem, outlining the steps, potential challenges, and solutions. Link your implementation to the supporting theoretical perspectives (e.g., disruptive innovation, blue ocean strategy, effectuation). Impact Analysis: Explore the expected transformative effects of your innovation on the ecosystem, considering both immediate and long-term impacts. Format: Use Times New Roman 12 font with single space. Do not forget to number pages. Be creative in how you present your analysis. You can use visuals, diagrams, or any other tools that help convey your message effectively. Ensure your narration is clear and your argumentation is logical. Include an additional cover page, indicating your names, student numbers, the tutor’s name, and contribution percentage (%) of each member of the group to the report. The total should be 100%. Everybody needs to sign the cover sheet. Include tables, figures, or other materials you find relevant but not central to your report at the end of the report in the “Appendix” Group Formation Policies: Formation Timeline: Initiate Group Formation: Begin forming groups as soon as possible, no later than the end of Week 3. Difficulty Finding a Group: If you’re having trouble finding a group, please contact your tutor via email for assistance, no later than the end of Week 5. Tutors will facilitate group matching based on interests and availability. Finalize Group Membership: Form groups of 5 members by the end of Week 5. By this date, your group should have conducted its first meeting or initiated email communication to align on assignment requirements and contributions. Communication and Engagement: First Meeting/Email Guidelines: The initial team interaction should establish roles, set a preliminary work plan, and discuss communication preferences to ensure effective collaboration, no later than the end of Week 5. Reporting Disengagement: If any group member fails to participate in meetings or respond to communications, the rest of the group should report this to their tutor via email before the end of Week 5. Post-Disengagement Process: Following Disengagement Reports: Upon receiving a disengagement report, tutors will reach out to the reported individual for mediation. If the issue persists, the course coordinator may decide on reassignment of group members or other corrective actions. Exceptional Circumstances: Handling Exceptions: In exceptional circumstances, such as late enrollment or unforeseen personal issues, the course coordinator reserves the right to adjust group compositions or formation deadlines. Examples of exceptional circumstances include, but are not limited to, medical emergencies or significant personal disruptions.