not negate the need for correct referencing. All quotations and cited text must be correctly referenced to avoid plagiarism.

The assignment deadline is mandatory and the following penalties apply to late submission.
• 10% penalty for assignments submitted within three days of the submission deadline.
• 20% penalty for assignments submitted within one week (seven days) of the submission deadline.
• Late submissions after one week will attract a further penalty of 5% for each additional day the work is late.
Extensions will be considered only where written application is submitted to the lecturer in advance of the deadline with supporting evidence as to why the extension is warranted (e.g. medical certificate).
Plagiarism
This is an individual assignment; any student found plagiarising as defined by the institute regulations will fail the whole coursework assignment. You are expected to do your own work.
TECHNOLOGY INNOVATION

Before you choose a technology innovation you will need to consider the following points:

• Does your proposed technology innovation meet a need or demand, does it have a value proposition (will people, organisations actually want, use or need it)?
• Does it have a revenue model (will people/organisations be willing to pay or it)?
• Is it theoretically possible, and is the knowledge to do so available from current available science.
• Is it financially feasible, in relation to costs, skilled labour and other resources?
• Have you done any market research and thought about marketing opportunities?
• Have you done any research in relation to the competition, how different is your innovation can it be easily copied (SWOT analysis maybe beneficial).

Another approach which might assist is to apply Porter’s generic strategies

• Cost Leadership
Does you technology innovation create a competitive edge by lowering costs (relative to competition).

• Differentiation
Does you innovation offer something which in some way is unique or different from other offerings.

• Focus/Niche
Can your innovation operate within a profitable niche or sub section of a market where competition is less intense.

Another good source for technology invention and innovation is www.google.com/patents

Is your idea an original idea or does someone have a patent on it?

Some other sites to review:

http://www.technewsdaily.com/innovation

http://ces.cnet.com/

create a professional business report (minimum 2000 words excluding bibliography and appendices) which will put forward a case for a new proposed technology innovation idea of your choosing.

To clarify the type of your innovation you will apply the four P’s model to your idea, which will identify the category of the innovation proposed; also include whether you believe it’s an incremental, radical or disruptive innovation.

1. Product Innovation
2. Process Innovation
3. Paradigm Innovation
4. Position Innovation

Include a section illustrating your innovation processes using the 4 stages below

Search (inspire / Inform)
• The creative phase, how do you find or how where you inspired to come up with your innovative idea; do you believe it to be a Knowledge Push or Pull etc.
• Did you consider the people, available technology, business/sector (if applicable).

Select (what real avenues are available for your innovation idea)
• Is your idea in its current form viable, can you identify several alternative leads for your idea or can it take another form.

Implement
• Not expecting details of a finished prototype, but you should include high level design and functionality for you technology innovation.

Capture
• Very high level marketing strategy, Identification of potential customers, markets and decisions about promotional methods or how you innovation idea will be packaged.

– Critical Analysis and comprehensive evaluation of theory/area, ability to compare, contrast and critique, etc.