TASK 1: EVALUATION OF BUSINESS INNOVATION

Choose a start-up or small business in New Zealand that has employed creativity and innovation in its operation. Evaluate the business innovation based on the following structure: (LO1, LO2, LO3)

1. Business Description

The business description should be brief and concise. It must provide an overview of what the business is, its products and/or services, what it does and why it is innovative.

20 marks

Approx. 600 words

1. Market and Environmental Analysis
2. Identify the business’ existing consumers including demographics, psychographics and behavioural characteristics. (15 marks)
3. Identify other stakeholders of the business. (10 marks)
4. Evaluate competitors and their strategies. (15 marks)
5. SWOT analysis. (20 marks)

60 marks

Approx. 1800 words

1. Evaluation of Innovation

The evaluation involves critiquing the creative ideas of business innovation in reference to the findings in your market and environmental analysis

20 mark

Approx. 600 words

TASK 2: BUSINESS PROPOSAL

Based on your evaluation of the business operation and your findings in Task 1, develop a business proposal for an innovative product or service using the business model canvas provided in this document. (LO3)

IE Assessment 1 (1)