Assessment 1 (BUSM2577 S2 2024)

Assessment 1 (BUSM2577 S2 2024)

Individual, 20%, 1000 words +/- 10%

Key Tasks Key Questions Your answer

Understanding the Industry Partner challenge Describe the challenge of industry partner (Medibank) The key problem of the research is that Medibank, an Australian health insurance company, struggling in the way to establish connection and deliver the appropriate OSHC information to the target audience. On the positive side, Medibank is currently an official supplier for RMIT University; however, it does not have a vast representation across the globe, which limits the opportunity to develop contacts with students prior to their arrival in Australia (Medibank, 2024). The fact that students generally have a negative opinion about health insurance as an obligation and not as a service adds to this challenge. Moreover, education agents get commissions for sending students to competing providers, thus eroding Medibanks market share. To overcome these hurdles, Medibank requires some innovative solutions that would not only promote the brand but also ensure that students select its OSHC by explaining its benefits to them.

Analysing external business factors What is/are the most relevant PESTLE factor(s) affecting the problem (Medibanks current challenge)?

Political: These laws require that any foreign student studying in Australia must possess health insurance, and this therefore provides Medibank OSHC with a captive market. Nevertheless, shifts in immigration policies or vis regulations might affect the flow of students, which would affect the demand for OSHC.

Economic: These economic conditions impact the students buying power in their countries of origin. However, if economic instability arises, students are likely to opt for the least expensive policy leaving Medibank with the responsibility to provide these policies at an affordable price.

Social: Cultural perceptions of health insurance can be quite diverse. In some cultures, health insurance is not considered as important and as such, there is likely to be reluctance or lack of interest in the purchase of OSHC.

Technological: The popularity of digital sources of information and sales only underscores the need for Medibank to be present online (Zhou et al. 2024). Lack of communication and strategic use of the available digital platforms can limit their outreach to the international students.

Legal: Regulations governing privacy of data and consumer relations differ from country to country, making it difficult for Medibank to reach out to international students.

Environmental: Although less obvious, issues of the natural world, or even world environment, particularly for requisite public health and safety, could make known to students expectations of health insurance providers and the coverage they desire.

Identifying potential user group Who are the users of the Industry Partners program (Medibanks Overseas Student Health Cover)?(Remember, international students are way too broad)

For example: international students, mature-aged international students, etc. International students studying in Australia are the target consumers of Medibanks Overseas Student Health Cover (OSHC). Of the categories, particular consumers are vulnerable; these include; Vitality, mature age international students who may come with extra health needs and or problems, young undergraduate students who may be taking health insurance for the first time and are likely to be swayed by friends (Medibank OSHC, 2024). Also post graduate and research students are an important group as they would want to ensure they have affordable health care to keep them fit to focus on their studies. Each of these groups will have varying requirements and expectations, which needs to be addressed through specific forms of communication and interaction.

Primary research: Conducting interview Conduct at least three (3) interviews to the potential group and list your findings based on:

What do they feel?

What do they need?

What do they see?

What do they hear?

What are their challenges/pains?

What do they benefit from/What are their gains?

Remember to keep a record of their profile.

(Attach your interview transcripts at the end of this document one transcript for each interview. You can use tools like otter.ai to help transcribe your interviews) Most of the interviewees feels a combination of anxiety and uncertainty towards the management of healthcare in a foreign nation. They want to know that they will receive help from their employer if faced with unpredictable medical bills.

They need health insurance that meets all their needs and is easy for them to obtain and understand, especially online. Mental health and family needs must be treated by coverage because they are vital.

They see a chaotic and sometimes unclear choice environment, with advice from classmates and education agents, which contributes to decision-making ambiguity.

They are confused regarding the need of OSHC as some of them believe it is not so significant while others feel it is so crucial.

Some of the issues experienced by customers include the following: comprehending the basic features of coverage, the process of buying insurance while out of Australia, and lastly the initial impression of having to procure OSHC as just an additional expense to incur.

The positive experiences include, when they have a clear policy and access to good OSHC plan, they are protected from large health expenses and can concentrate on their studies with no health concerns.

Creating Visualisation Create: User Persona and Empathy Map based on the interview findings.

Defining the problem Create your how might we question based on your research.

From research, the main issue is the ability to promote the importance of the OSHC to the international students, most of who are overpowered and disoriented by complexities surrounding health insurance. The How might we question is: What can we do to make it easier for students to choose Medibank OSHC so that they can feel comfortable and safe during their stay in Australia?

References

Zhou, L., Diro, A., Saini, A., Kaisar, S. and Hiep, P.C., 2024. Leveraging zero knowledge proofs for blockchain-based identity sharing: A survey of advancements, challenges and opportunities.Journal of Information Security and Applications,80, p.103678. https://doi.org/10.1016/j.jisa.2023.103678Medibank. (2024). Home | Medibank Overseas Student Health Cover n.d., Medibank. https://www.medibankoshc.com.au/Medibank, OSHC (2024). Hospital cover n.d., viewed 15 August 2024, https://www.medibankoshc.com.au/content/dam/b2c/docs/mpl/Comprehensive_OSHC_Cover_Summary.pdfAppendix

Interview 1:

Profile: Maria, a 28-year-old mature-aged student from Brazil, pursuing a Masters in Business at RMIT.

Marias notable issues included how she will handle the medical needs of herself and the family due to education in a different country. She requires an insurance cover that will cater for all ailments including relations who might come to visit or spend some time with her. Maria also appreciates openness and ease to comprehend what her health cover means to her.

Interview 2:

Profile: Lee, a 21-year-old undergraduate student from South Korea, studying Computer Science.

Health insurance is not well understood by Lee as it is not something that people from the home country are likely to encounter very often. Because he does not believe that OSHC is important, he looks for a relatively cheap plan which will be easy to comprehend. Lee usually seeks advice from fellow students or follows recommendations posted on different forums and sites.

Interview 3:

Profile: Priya, a 25-year-old postgraduate research student from India, specializing in Environmental Science.

Priya is a hardworking student and the matter is important to her in getting a good health insurance. She needs to have a plan on mental health services and stress management since this is more applicable to her academic life. Priya appreciates the ability to receive health services online and precise instructions on how to navigate through her insurance.

Assessment 2 (BUSM2577 S2 2024)

Individual, 30%, 1500 words +/- 10%

Key Tasks Not part of the word count Key Questions

Not part of the word count Your answer

Part of the word count

Defining the problem Cite the how might we question(s) that you have identified in the A1.

Or you can also include a new how might we question if this has changed.

HMW discussed in your A1:

New (if applicable):

Ideating solutions Consider the SCAMPER technique and ideate three (3) new potential innovative solutions to the "How might we..." Question.

Note: You are expected to utilise the SCAMPER Technique in your own brainstorming sessions and then list the three solutions after completing such ideation here.

Solution 1:

Solution 2:

Solution 3:

Measuring against the DVF matrix Evaluate each solution against the Desirable, Viable and

Feasible (DVF) measures and choose one (1) innovative

solution

Then, justify the chosen solution using appropriate evidence (e.g. references) Solutions Desirable Viable Feasible

Solution 1: Solution 2: Solution 3: Creating a prototype Build a Low Fidelity Prototype of your solution (e.g.

Sketching/Paper/Digital/Native prototyping) that will

allow you to rapidly test and gain feedback from the

users Planning to Test Present a Test Card to show your plan to test your

Prototype

Note: You should only demonstrate your plan for testing this Prototype with your users.

References

A minimum of two (2) peer-reviewed articles following RMIT Harvard referencing

Appendix

Attach any additional documents or visualisation here if applicable.