Entrepreneurship and Innovation seeks to provide learners with a comprehensive understanding of fundamental concepts and strategies pertaining to enterprise and entrepreneurship. This module aims to cultivate knowledge of entrepreneurship within global contexts, equipping learners with essential skills for fostering innovation and managing entrepreneurial ventures effectively.
AIM OF THE MODULE
The aim of this module is to introduce learners to the basics of business processes and strategies related to enterprise and entrepreneurship, developing knowledge of enterprise and entrepreneurship in global contexts.
THE OBJECTIVES OF THIS MODULE ARE:
- Evaluate innovative and entrepreneurial management processes for a project or organization, including methods for encouraging creativity and innovation.
- Critically assess business ideas, production, and marketing feasibility developed from new ideas.
- Develop a business plan for a new business, including control and monitoring mechanisms.
- Analyze methods for encouraging creativity and innovation in organizations and critically explore how to lead others to positively embrace innovation and change.
- Evaluate the market and competition, local business environment, and promotion strategies, along with the control and monitoring mechanism for the business plan.
- Identify expected questions, robustness of evidence of market, own skills and expertise, and techniques for handling challenging questions during negotiations.
In this assignment (Fujitsu`s Co-Innovation Approach with Customers), we will analyze Fujitsu`s successful approach to co-innovating with its customers, focusing on the development of its Activ8 innovation program. We will explore the challenges faced by Fujitsu prior to the implementation of Activ8, the solutions adopted, and the strategic goals achieved through this innovative initiative.
ASSESSMENT CRITERIA
♥ The wordcount should be between 2,000 to 3,000 words (excluding footnotes).
ASSIGNMENT ANALYSIS
Challenges Before HYPE:
- Discuss the challenges faced by Fujitsu`s UK and Ireland business in connecting with customers and responding to digital disruption.
- Analyze the market dynamics that drove Fujitsu`s goal of innovating with customers.
- Evaluate the need for a new approach to customer-centric innovation, considering the requirements outlined by Fujitsu.
The Solution: Activ8 Co-Innovation Program:
- Describe the development of Fujitsu`s Activ8 program and its unique approach to customer co- creation.
- Examine the role of HYPE Enterprise`s platform in supporting the ideation phases of the Activ8 process.
- Discuss the success of the pilot program and its expansion to become an EMEIA-wide shared service.
Strategic Goals and Key Components:
- Evaluate Fujitsu`s strategic goals for the Activ8 innovation program, focusing on customer engagement and value creation.
- Analyze the key components of successful customer-centric innovation as outlined by Fujitsu.
Innovation Framework and Team:
- Describe the cyclical framework utilized by Activ8 for continuous iteration and co-creation with customers.
- Discuss the role of Fujitsu`s innovation team in executing innovation projects and supporting engagement across the region.
Evaluation of Benefits:
- Evaluate the benefits of working with HYPE, including the financial metrics tracked to measure the success of innovation efforts.
- Analyze the pipeline of direct revenue and indirect sales generated through Fujitsu`s co-innovation approach.
Conclusion:
Summarize the key findings from the case study analysis, emphasizing the success of Fujitsu`s Activ8 program in driving customer-centric innovation and generating business value. Discuss the lessons learned and implications for other organizations seeking to implement similar co-innovation initiative