ERPBIM501A Use accounting processes BSB61015 Advanced Diploma of Leadership and Management BSBMGT619 Identify and implement business innovation Assessment 1 ASSESSMENT COVER SHEET Student name:...

Identify and implement business innovation

ERPBIM501A Use accounting processes BSB61015 Advanced Diploma of Leadership and Management BSBMGT619 Identify and implement business innovation Assessment 1 ASSESSMENT COVER SHEET Student name: Assessor name: Date of assessment / evidence: Venue: Qualification title: Advanced Diploma of Leadership and Management Unit(s) of competency assessed: BSBMGT619 Identify and implement business innovation Instructions to the student: To complete this unit’s assessment, you are required to answer all questions in this booklet and demonstrate specific tasks and skills. Assessment tasks Assessment Task 1: Knowledge questions □ Satisfactory □ Not Satisfactory □ Not Completed Instructions to the assessor To complete this unit’s assessment, the student is required to answer all questions in this booklet and demonstrate specific tasks and skills. Once the booklet is completed, you are to make the assessment decision. Please refer to the marking guidelines when making this decision. Context of Assessment Assessment tasks will be completed in the College, including the computer lab, using provided software and documentation. Assessment outcome: (please tick to indicate) ( Competent ( Not Yet Competent Is re-assessment required? Yes No Date of re-assessment (if applicable) Date declared competent: (if different to date of assessment) Student: · The assessment process, including assessment information, competency requirements, student rights and appeals were clearly explained. · I have been provided with feedback on my assessment and agree/disagree (delete what is not applicable) with the assessment result. Student signature: Date: Assessor: · The assessment process, including assessment information, competency requirements, student rights and appeals were clearly explained. · The assessment was valid, reliable, flexible and fair. · I have provided the student with feedback on their assessment. · I certify this assessment record is accurate. Assessor signature: Date: Comments: Applying Innovation for a Strategic Advantage Information technology is the key Instructions In this assessment you will conduct a complete analysis on the following three items 1. Compare a business with a competitor business 2. Identify business opportunities for innovation and reform 3. Implement innovation Competitive Strategy Concepts: 1. Gain a competitive advantage 2. Reduce a competitive disadvantage 3. Meet other strategic enterprise objectives According to Michael Porter, a firm can survive and succeed in the long run if it successfully develops strategies to confront five competitive forces that shape the structure of competition in its industry. Discuss what is meant by the following 5 concepts: 1. Rivalry of competitors within its industry 2. Threat of new entrants 3. Threat of substitutes 4. Bargaining power of customers 5. Bargaining power of suppliers Explain how competitive strategies can be developed to help a firm confront these competitive forces. Discuss the following concepts: · Cost Leadership Strategy - · Differentiation Strategy · Innovation Strategy · Growth Strategies · Alliance Strategies You are a CEO or business owner Identify opportunities for innovation in your organization. Explain the opportunity and what type of innovation will be used to achieve the opportunity? (Please discuss the opportunity with your trainer before you commence) Conduct a cost benefit analysis regarding the new innovation Explain how the new change will benefit your company, staff and customers. Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements. Use the following headings for your risk analysis. Risk Identification Risk Analysis Qualitative Risk Analysis The probability and impact of occurrence for each identified risk will be assessed by the project manager, with input from the project team using the following approach: Probability Impact Risk Response Planning · Avoid – eliminate the threat by eliminating the cause · Mitigate – Identify ways to reduce the probability or the impact of the risk · Accept – Nothing will be done · Transfer – Make another party responsible for the risk (buy insurance, outsourcing, etc.) Risk Monitoring, Controlling, and Reporting ERPBIM501A Assessment Guide V1.1 2015