INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT

Innovation and sustainable business growth

This essay’s goal is to get you more familiar with the concept of a business model and demonstrate how a theoretical grasp of business models can be used to explain how businesses really make use of innovations.
Despite the abundance of academic study on business models, there is currently no universally accepted definition of the term among scholars. You must conduct academic and theoretical study on business models in order to pass this section of the exam, then write an essay in which you respond to the following questions: Based on your reading of relevant literature, choose one conceptualization that, in your opinion, best demonstrates how businesses use innovations. By critically contrasting your selected conception with one alternative conceptualization and using it to explain a real-world invention of your choice that was unveiled within the last five years, you can explain your preferred conceptualization and offer a strong defence of your choice.
There must be a minimum of 8 and a maximum of 20 references.

Assignment 1 Guidelines for MGMT20132 creation of sustainable and creative businesses

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The Business Models Essay

This essay’s goal is to get you more familiar with the concept of a business model and demonstrate how a theoretical grasp of business models can be used to explain how businesses really make use of innovations.

Despite the abundance of academic study on business models, there is currently no universally accepted definition of the term among scholars. You must conduct academic and theoretical study on business models in order to pass this section of the exam, then write an essay in which you respond to the following questions: Based on your reading of relevant literature, choose one conceptualization that, in your opinion, best demonstrates how businesses use innovations. By critically contrasting it with one alternative conceptualization and applying it to a real-world innovation of your choice that was launched within the last five years, you may explain your preferred conceptualization and offer a strong defence of your choice.

There must be a minimum of 8 and a maximum of 20 references.

You need to show proof that you have: 1) Read and understood the academic material on business models.
2) What constitutes true literary innovation?

 

IMPOSSIBLE PERCEPTUALIZATION
1) Methodology and classification
2) Not limited to a description of how a company develops and creates value
3) BUT demonstrated knowledge of the approach directing the process.
4) It goes without saying that this description, as a component of a well-reasoned piece, must also be included in the essay.
Just make sure you do more than simply describe, for example.
NOT: When pharmaceutical companies develop a new treatment, they don’t just sell it to the European Health Minister; instead, they give it out for nothing unless it has an overall success rate of 90%.
BUT: According to the well-known “no-win-no-fee approach,” which stipulates that the pharmaceutical industry will only charge the European health minister if a new drug is more than 90% effective, the newest business model innovation for the pharmaceutical industry is known as the “non-efficacy-no charge” approach. This strategy appears to be a variation of that approach.
SUPERIOR PROBLEM-SOLVING BM
1) To provide you the possibility to demonstrate your proficiency with the challenging brief and to develop your argument, the work has been purposely written in a slightly contentious manner.
2) Before starting your essay, bear the following points in mind.
Why are there so many conceptualizations in the literature?
Is there ever going to be one that is so good that ALL enterprises can use innovation?
Why not, if not?
How was this controversy addressed in the essay?

APPLICATION AND CRITICAL DISCUSSION ARE HARD:
KEY: Critically
Don’t rely on a single study; conduct thorough research on the strategy you chose.
Think about it from many perspectives and bring it up in conversation.
It may be useful to consider each conceptualization’s advantages and disadvantages.
Application
Any novel concept may be used, along with a brief explanation.
carefully chosen method of conceptualising the invention
You must cite the sources you refer to (such the company website) while talking about the innovation.
ASSESSMENT CRITERIA ESSAY:
1. Demonstrates understanding of business model theory (5%)
2. Comparing and analysing two logically sound conceptualizations of business models (15%)
3. Justifies the chosen business model’s conceptualization as being superior (10%)
4. Implements the chosen business model using a current invention from the actual world (5%)
5. Concludes by summarising the important arguments and making sure that each point is made explicitly (5%)
6. Written communication skills, theoretical fusion, dependable sources, and citation styles (10%)

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