Innovation and Growth
Q.1.Explain what you understand by a “co-creation activity” . How might this type of activity be implemented at a firm level for innovation ? What is the role of marketing activities in successful implementation of this type of strategy for innovation and growth?
(Note: you may use a firm using co-creation to innovate as a case study to demonstrate your answer.) (20 marks)
Q.2.Critically examine innovation via a “Value -Innovation Strategy”. How might such a strategy for innovation and growth be implemented in practice.? Give examples to illustrate your answer. (20 marks)
a. What are the key indicators used in practice to monitor innovation performance of (1) a country and (2) a company? Are these indicators related? Give examples to illustrate your answer. (20 marks)
b. With close reference to key indicators in part (a) and relevant academic literature, choose an innovative company operating in a knowledge-based economy of your own choice and critically examine and explain company’s strategy, operations, marketing activities, and management style for innovation and growth. Explain how your chosen company has been able to innovate to achieve sustained growth over time.
( Note: You must provide relevant empirical evidence presented in tables, charts and graphs to support your discussion ).
Guidance for the preparation and submission of the assignment
1. Provide a critical review of pertinent academic literature to support discussion and analysis relating to each question .
2.Collect, present, and provide an analysis of secondary data on innovation activities at firm and national levels ,including data/information on R&D activities, patents, marketing budgets, sales, profits, market valuation and share prices to support your theoretical discussion .
3. Presentation to the class of company and country that you have chosen( Q.3) ,the reasons for your selection based on evidence collected, company’s key activities, innovation strategy, operation ,management style and culture. This is a key requirement for the submission of the assignment.
4. Using relevant academic literature with secondary data and other evidence collected to arrive at a conclusion. Data appendices are allowed.
5. Appropriate use of Harvard Referencing system both in the text and in a reference section. This is important and it is expected that you would make use of key and up-to-date references in ALL questions to support your analysis.
Part 1 Country: South Korea
Strength of science and engineering base- publications and citations.(university)
Networks and collaborations-cooperations by firms.
Innovation products, share of sales attributed to new products(export)
Knowledge–Technology change—Innovation– Growth
Mission& vision statement
Key market, main competitors
Porter’s five force models, discuss market condition (if have)
What marketing activities has been use, how many people involed?
Insight—market place, customer, configure products, services around emerging needs.
Value innovation strategy carried out by firm
Collaboration (with partner reduce cost and nothing to lose)
Organisation and management (employees important, well satisfy)
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