MGMT20132 Report Sample

MGMT20132 Report

Assessment Task and Criteria

This assessment must be completed by students individually. The assessment is designed for students to develop innovation insight and practices aimed at developing a novel value proposition for an existing business or organisation and aligned with the strategic trajectory of the business or organisation. The assessment is also designed for students to self-reflect on their own innovation capabilities and practices. The assessment involves writing a 2000-word report for a novel value proposition within an existing business or organisation. You are required to write a 2000-word report for a novel value proposition (product or service that is new or original) within an existing business or organisation. You must use appropriate headings to structure the body of the report. Your report will be assessed according to the following criteria.

Your report must demonstrate:

1. Logical and persuasive articulation of the problem to be solved; problem insight; a portfolio of generated solution concepts; solution selection analysis; novel value proposition; targeted customers; competitive advantage and strategic fit. (This includes all elements in the value proposition canvas by Osterwalder, Pigneur, Bernarda, and Smith (2014, pp. 8-9). The canvas describes the fit between the value proposition and customer segments). 40%

2. Logical and persuasive assessment of critical business model assumptions and uncertainties related to customer desirability; technical feasibility; and financial viability as described by Bland & Osterwalder (2020, pp. 32-33). 16%

3. Logical and persuasive argumentation for the selection of the innovation tools and techniques used to support the report findings and recommendations. Minimum five 

(5) tools and techniques must be selected from the provided list of tools and techniques. 6%

4. Logical and persuasive application of the selected innovation tools and techniques used to support the report findings and recommendations. Minimum five (5) tools and techniques must be applied from the provided list of tools and techniques. 8%

5. Candid and critical self-reflection about assessment 1 tasks including a reflection on the development of personal innovation capabilities and practices; identification of own personal strengths and weaknesses; supported with suggestions for self-improvement. 10%

6. Clear flow of thought throughout the report with a convincing executive summary; clear and succinct purpose described in the introduction; relevant structure and content within the body of the report; and a clear and succinct conclusion. 6%

7. Critical review skills and integration of relevant academic and professional literature. A minimum of ten (10) academic and professional references must be used. 4%

8. Appropriate in-text referencing and reference list. Adherence to CQUniversity APA reference style. 4%

9. Clarity of expression, grammar and spelling. Appropriate report format with good use of bullet points, illustrations and figures. Within ±10% of the word limit for the report, excluding references and appendices: 2000 words. 6%

Solution

Introduction

Sigma Toll Services is the leading tool handling company that collects payments from the transportation vehicle. As per the MBA Assignment Expert, A manual toll collection process is currently active in Australia which would be modified by using latest technology and smart sensor based products. All the necessary aspects for this business model need to be analysed to deploy the complete system. Smart sensor based products will be able to collect payments from vehicle by scanning their tags. This will be make the payment collection process more fast and secure. Payments will be collected directly from the owners’ bank account. However, the complete business model will be deployed through analysing the different aspects like business value proposition, business model assumptions, competitive advantages, and tools implementation. Therefore, a comprehensive analysis on the selected business approach will be developed by using different business values and tools. SWOT analysis, OKR, business model canvas, value proposition canvas, brainstorming are some most popular approach techniques that are used to make analysis for the business model implementation.

Problems To Be Solved

The toll collection process in Australia is not conducted efficiently which make difficulties for both the agencies and consumers. Time delay for the vehicle owners is causing travel issues and problems. On the other hand, implementation of smart technologies and devices is still not introduced by the Australian governments which need to be implemented. A secure payment gateway need to be established between the Sigma Toll services and the tax payers. On the other hand, the traffic issues into the highways could also be mitigated with the implementation of smart devices and technologies into the toll plazas (Ciruela-Lorenzo et al., 2020). The IT infrastructureof the tolls services need to be improved with the wireless facilities and secure gateway. The communication system between the devices and users will also be enhanced with the deployment of smart devices and sensors. At the same time, the generated revenue from the tools services could also be increased by the agencies and it will be play a vital role on the nation’s growth. 

Problem Insight

The major issues and challenges faced by the tool plaza staff is the complexities during the payment collection. This is causing major issues and challenges for both the tax payers and toll staffs. Traffic jam on highway is a major problem insight caused by the manually operated toll plazas. Essential services sometime delayed due to the tolls plaza hazards. On the other hand, the data and information of the tax payers is also handled manually which make the system ineffective. An automated information handling system must be deployed by the tolls staff members to make an advanced tracker of the transaction (Das et al., 2022). A previous record of information of each vehicle is not available into the current system which need to be implemented by the company staff. There are several cases of the fraud on tax paying process had been recorded which could be reduced with the deployment of smart devices and sensors. All the necessary steps and process for the advanced toll collection system will be introduced by the Sigma Toll services.

Concept of Generated Solution

In order to deploy the smart sensors and advanced technology on toll plaza, a complete business model need to be developed by the company management. In this process, several steps need to be considered that will help to build the entire process of sensor implementation. Based on the data and company requirements and problem insights, the business model will be developed. All the necessary changes into the existing system could be implemented during the process implementation. In the below points, all the major concepts of the solution has been identified:

• Problems identification: In this phase, all the major issues and challenges will be identified by the management. However, the issues prioritization should also be done in this phase.

• Technology selection: Technology selection is another major steps that includes smart devices, web based applications, storages, security components and others (Ahmed et al., 2019).  

• Budget allocation: Cost is a major factor that must be considered by the system developers. A separated cost sheet need to be prepared by the users to make the complete analysis of the budget allocation.

• Implementation: For this stage, a team of experts and technician need to be deployed by the management. All the vital tools and techniques need to be adopted by the expert team.

• Result Analysis: In order to achieve the aim and objective of the project, it is important to make analysis of the result seen on the system (Syakur, Junining&Sabat, 2020). This could be made in terms of issues and problems faced previously.

• Change management: Based on the result of the system after certain time period, necessary changes into the system could be made by the company management. 

With the adoption of above stages for the new innovation on the Sigma Toll services, a complete business model could be established for the company. The new product and services will be offered to the consumers in toll plazas.

Selection of Solution

In order to implement the new innovation and product value proposition to the Sigma Toll Services, it is important to select proper solution in terms of both the software and hardware.In this project, smart sensor based products are the main devices that need to be installed into the tolls plazas. However, there are several application and storage devices are associated with this devices.A proper database server need to be installed to store information. On the other hand, a web based application will also be associated with the sensors and sensors could be controlled through the application (Rashid & Abbas, 2021). All the transactions will be stored into the database server and an analysis of the data could be performed by the management with the help of additional applications. 

Therefore, the complete business model could be implemented with the help of smart devices and applications. On the other hand, a maintenance team for the entire system need to be deployed by the company.

Novel Value Proposition

The novel value proposition of this project can be defined with the help of value proposition canvas. In the below points, both the customer profile and novel value for product have been identified.
Customer profile:

Gains 

• Faster transaction in toll plazas 
• Secure payment gateway deployed for the consumers 

Jobs

• New devices and technologies will be installed 
• Smart sensors will be installed 
• Tax payers will be satisfied with good services
• IT infrastructure will be enhanced 

Issue

• Lack of technological implementation 
• Initially deployment of the system could make issues

Value Proposition

Gain creator

• Faster service will be provided 
• Online transaction will be implemented 
• IT infrastructure will be enhanced 

Product and services benefits

• Smart sensors will be installed that will help to make the system faster
• Automated payment gateway will be enabled to save time and cost
• Data and information storage will be installed to efficiently handle data 

Pain reliever

• Data storage device
• Advanced IT infrastructure 

Targeted customer

After implementing the entire project in Sigma Toll services, a number of benefits and advantages could be enabled for the vehicle owners and toll staff. Here, the target customer are the vehicle owners and tax payers.

Competitive Advantage

SWOT assessment is an excellent method for determining an internal element for Sigma Toll Plaza, which can have a significant impact on the quality of a novel product launch or even the company's competitive benefit. This case's SWOT analysis is presented here.

Table 1: SWOT Analysis Table

In order to make a comparative analysis of the selected business model, several advantages will be enabled for the consumers. Customer will get faster services from the tolls plazas and a secure payment gateway will also be enabled for the consumers. A good competitive advantage will be achieved by the consumers.

Strategic Fit

The smart sensor toll plaza should provide a good service as well as a product. Essentially, this technique is intended to discover the purpose of a brand or service’s development for the novel value. In this situation, the organization’s key strategic aim is to provide good client service with greater comfort and friendly sensor to improve their efficiency as well as effective manner than the existing setup for the Sigma Toll Plaza. 

• The smart sensor technology can assist the organization in bridging the improper information and also resolving numerous challenges of the future that may develop, during the process of business.  

• Hence, the sensor may improve the value of services that can be provided to clients. This is consistent with the business’s future strategy implementation, as well as the usage of the resource, which will be needed to construct the intelligent smart sensor for the toll plaza-based system. 

• The SWOT analysis is utilized to determine the suggested solution’s strategic fit into the company dependent on its goal, ambition, as well as ideals.
On the other hand, this technology is intended to explain the suggested method’s existence and focus on the conceptual goal of successful and efficient sensors provided for future performance.   

Business Model Assumption and Uncertainties

The business model for a sigma toll plaza to get an advantage to the customer or company benefits, there are a few benefits are used to develop the toll plaza such as user benefits, toll agency benefits, and many more. The advantages of a toll for using a sensor to operate the lower operation cost, lower maintenance costs, and improved cash processing. The customer advantages are to include time-saving from not having to start digging for adjustment as well as the reduction of ascent and descent because the cars need not halt for toll transactions (Umar,Sasongko&Aguzman, 2018). Furthermore, there is a time saving as a result of the decreased toll processing duration or average waiting duration. Furthermore, the absence of acceleration saves a significant amount of gasoline. The environmental advantages have included a decrease in transportable emissions that influence the surrounding regions where smart sensors are placed.

Arguments on The Selected Tools

There are five various techniques used in this report, it is used to identify the several characteristics of the organization. The arguments for the selected tools are given below: 

- SWOT Analysis: the analysis provides a cost-effective technique for defining an organization's competitive benefit focused on internal characteristics.

- Business Model Canvas: A business model canvas is standardized for expressing, displaying, evaluating, and updating the business model from time to time. It is providing the logic behind how a company generates, provides, and collects value for the company. 

- Value Proposition Canvas: A business model technique that assists investors to ensure that a company's services or productsare structured toward the novel values and demands of its customers (Belleflamme&Neysen, 2021). 

- Mind Map: Mind mapping is an effective solution to make a project successfully done. All the activities during the new innovation could be mapped through the mind mapping tool.

- Innovation Readiness Analysis: With this type of analysis, the new innovation on the selected business area are analysed. The effectiveness of the new innovation are measured based on the some defined parameters.

Self-Reflection

In order to develop a new innovation idea for Sigma Toll services, a brief analysis on the selected topic has been conducted. I have focused on the innovation on the smart sensor technology and its associated applications and gadgets. Based on the data and information acquired from different sources, I was able to develop the business model for the company. Based on the company requirement, future researchers will be able to make further changes into the developed business model. However, the technological aspects for this business process is the most amazing research area for this project I think. It helped me to think the complete situation in an innovative way.

Conclusion

A brief overview of the Smart sensor in Sigma Toll Plaza for a novel value proposition that is utilized to develop a sensor technology for recognition of the system aids in lowering wait times at toll plazas. Here, the stolen vehicle, as well as the hit-and-run car, may be quickly identified by a smart sensor fort comparing the car number with the vehicle information that has been saved in the cloud database. Therefore, SWOT analysis and a novel value proposition for the sigma toll plaza have been demonstrated in this report. However, the strategic fit and analysis of a business model have been properly illustrated in this report.

References

Ahmed, S., Tan, T. M., Mondol, A. M., Alam, Z., Nawal, N., & Uddin, J. (2019, October). Automated toll collection system based on RFID sensor. In 2019 International Carnahan Conference on Security Technology (ICCST) (pp. 1-3). IEEE.https://ieeexplore.ieee.org/abstract/document/8888429/

Belleflamme, P., &Neysen, N. (2021). A multisided value proposition canvas for online platforms. Journal of Business Ecosystems (JBE), 2(1), 1-14.https://www.igi-global.com/article/a-multisided-value-proposition-canvas-for-online-platforms/270477

Ciruela-Lorenzo, A. M., Del-Aguila-Obra, A. R., Padilla-Meléndez, A., & Plaza-Angulo, J. J. (2020). Digitalization of agri-cooperatives in the smart agriculture context. proposal of a digital diagnosis tool. Sustainability, 12(4), 1325.https://www.mdpi.com/2071-1050/12/4/1325

Das, D., Banerjee, S., Chatterjee, P., Biswas, M., Biswas, U., &Alnumay, W. (2022). Design and development of an intelligent transportation management system using blockchain and smart contracts. Cluster Computing, 1-15.https://link.springer.com/article/10.1007/s10586-022-03536-z

Rashid, F., & Abbas, G. (2021). RFID Based Toll Booth Management System using Internet of Things. International Journal of Integrated Engineering, 13(1), 7-18.https://penerbit.uthm.edu.my/ojs/index.php/ijie/article/view/5081

Syakur, A., Junining, E., &Sabat, Y. (2020). The Implementation of Project Based Learning (PBL) Model Towards the Result Student’s TOEFL in 7th semester of Brawijaya University. Journal of Development Research, 4(1), 41-46.http://journal.unublitar.ac.id/jdr/index.php/jdr/article/view/97

Umar, A., Sasongko, A. H., &Aguzman, G. (2018). Business model canvas as a solution for competing strategy of small business in Indonesia. International Journal of Entrepreneurship, 22(1), 1-9.https://www.proquest.com/docview/2046068837?pq-origsite=gscholar&fromopenview=true

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