Develop an innovative idea that solves a current business/customer problem.

Format
Please use Report format with suggested headings and sub-headings (see below for the suggested structure & headings), 12 Times New Roman font, 1.5 spacing. Prepare your written report as a MS Word document, no more than 2,000 words

Develop an idea to solve a current business/customer problem. Analyse the business landscape around you and develop a product or service that can significantly solve any creative problem. Where relevant, please reflect on/apply relevant theories/concepts/techniques discussed in the subject.

The following structure and detail are suggested (only sections 1-6 below contribute to your word count):

Cover Page (Please include your full name, student ID, campus, class day & time, and tutor’s name)

Table of Contents

1. Introduction (Introduce the idea, the business/customer problems being addressed, and benefits for society, business market and the customers.)
2. Idea Generation (What idea generation techniques/problem solving approaches have been used and How?)
3. Innovation and Differentiation (How innovative and differentiated is the proposed idea?)
4. Prototype Development. (Draw a picture of it (prototype), or describe how the prototype can be developed, and describe how it will work in a step-by-step process).
5. Market, Customers and Feasibility
+ What market is it for (e.g., consumer, business, government and what is the expected market demand)? What socio-demographics is it targeting and why?
+ How feasible is it in terms of market potential/customer demand, technology and profitability?
6. Risks and Opportunities. (Discuss how you will minimise any risks and take advantage of any potential market opportunities).
7. References: (at least 12 references, including no less than 05 academic references, all correctly cited using Harvard or APA referencing style).
Appendices (if needed)