Individual project proposal
The project proposal should have 3,000 words (excluding title, references and appendices) and based on previous 1000 words proposal, which attached in the bottom.
Topic for individual project proposal and report submission:
The fourth industrial revolution (4IR) entails a fusion of technologies and is changing the way we live and work because of the explosiveness of its development and the disruptiveness of its technologies. These technology platforms thus creating entirely new ways of consuming goods and services in the process. The shift from simple digitisation (the 3IR) to innovation based on combinations of technologies (the 4IR) is forcing companies to re-examine the way they do business and to cope with the changing environment and challenges, and continuously innovate.
The innovations in artificial intelligence, autonomous technology (such as robots, drones and autonomous vehicles), 3D printing, nanotechnology, quantum computing, and fintech (block chain / cryptocurrency) are a few shelf examples of the 4IR. These changes are occurring at an exponential rate and a very rapid increase in the size and significance of technological innovations, particularly through influencing the financial sector and global economy, thereby encompassing almost every social activity. Right now the use of 4IR innovations is dominated by a relatively few companies, it could be widely available to many more, giving the economy a boost.
Please select any of the 4IR innovation case and critically evaluate the innovation process in any of the 4IR innovation, and write a proposal and a report on:
CAN INNOVATION IN ANY OF THE 4IR CATEGORIES BE MANAGED? IDENTIFY THE DRIVERS AND BARRIERS TO 4IR INNOVATION AND HOW THEY WILL BE RESOLVED. PROPOSE AN INNOVATION PROCESS FRAMEWORK OR BUSINESS MODEL FOR THE INNOVATION CASE AND A JUSTIFICATION FOR THIS.
The structure of your project proposal and report, and the breakdown of the marks:
Introduction and Background, justifying why you select the innovation case and why it is significant to analyse. Is innovation manageable? If it is manageable, what factors are important? 30% marks
Review of literature, articulating a synthesis of literature sources that could provide in-depth knowledge on the topic discuss the drivers and barriers to innovation and how they will be resolved. 30% marks
Propose an innovation process framework or business model for the innovation case and a justification for this. 40% marks
To explain briefly, this is a project proposal which contains 3 questions. You should select one innovation case of the 4IR you want and use it to answer questions. First two questions are pretty straight forward. In the third part you should choose between innovation proccess framework(which is attached in the documents) or create your own business model (additional information also attached).
As this essay will be based on previous work, besides expanding it from 1000 to 3000 words some other changes must be made! :
1) The project should have a clear structure! Answer all the questions!
2) The first part(30% marks) besides the information from previous essay, should also have an answer to the question: WHY I SELECT THIS INNOVATION CASE (my motivation) > it might be some personal or because I was influenced by some article or something else
3) In the second part (30% of marks) -> More academic journals and articles should be added!!! Online websites and sources are only part of it
4) In the second part (30% of marks) -> should be discussed 2-3 drivers and 2-3 barriers and how they will be resolved
5) The last part (40% marks) is the most important! First of all before discussing business model or framework you should answer the question: WHY YOU SELECTED THAT BUSINESS MODEL(framework) AND NOT SOMETHING ELSE (2-3 sentences)
6) Also in the last part I recommend taking another business model, which is attached and called BUSINESS MODEL CANVAS, because it has more sections that can be discussed (9 in total)
7) Last thing is that can you please add a couple of figures, tables or diagrams to my work. This could increase my marks.
8) Aim 20 references
Also this is the feedback for my previous essay, which should be useful:
You have provided very good introduction and background, but justification on case selection was not sufficient. The attributes and aspects of factors were discussed further discussion on how to manage innovation would be beneficial. The drivers and barriers were discussed, more in-depth literature review would be helpful. The elements of innovation process framework were nicely outlined, but the justification of framework selection was missing.
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