Fostering Friendships - Enhancing Social Bonds in the Classroom
BREAST CANCER SCREENING · Describe the diagnostic or screeni.docx
1. BREAST CANCER SCREENING
· Describe the diagnostic or screening tool selected, its purpose,
and what age group it targets.
· Has it been specifically tested in this age group?
· Next, discuss the predictive ability of the test. For instance,
how do you know the test is reliable and valid? What are the
reliability and validity values? What are the predictive values?
Is it sensitive to measure what it has been developed to
measure, for instance, HIV, or depression in older adults, or
Lyme disease? Would you integrate this tool into your advanced
practice based on the information you have read about the test,
why or why not?
2. You should include a minimum of two (2) scholarly articles
from the last five (5) years (3 is recommended).
3. Respond to a minimum of two (2) individuals, peer and/or
faculty, with a scholarly and reflective post of a minimum of
two (2) paragraphs of 4-5 sentences. A minimum of one (1)
scholarly article should be utilized to support the post in
addition to your textbook.
4. Your work should have in-text citations integrating at a
minimum one scholarly article and the course textbook. APA
format should be utilized to include a reference list. Correct
grammar, spelling, and APA should be adhered to when writing,
work should be scholarly without personalization or first -
person use.
image1.png
School of Business
25. Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
Incremental vs.
radical innovation?
(& NPD)
Innovation - why bother?
What are they?
Examples of each?
Leader vs. follower innovation strategies
Technological leadership
First-mover advantage may be achieved by:
26. • Patent protection – where possible
• Secrecy and advances in the product
innovation learning curve
Value chain strategies
The market pioneer may be in a position to:
• Pre-empt sources of supply
• Shape the way the product is distributed
• Establish close relationships or strategic
alliances with distribution partners
Take-over
Let the pioneer take all the risks then
acquire the skills, patents, learning curve
Follower
Capitalise on mistakes made by the pioneer
Leapfrog the pioneer by perfecting the
processes:
• lower price due to economies of scale
• a technologically superior product /
superior product quality
27. • superior product positioning – value
proposition / segmentation
• superior customer service
• Superior marketing
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
Seven dimensions of NPD best practice
See chapter 9 of the unit
text for greater detail
Process,
research, metrics
28. are all closely
inter-related
The innovation strategy dimension
• NPD is considered within the context of
the organisation’s mission and vision and
long-term strategic planning processes
• Considered to be an ongoing process
• Focus on maintaining the right balance for
the innovation portfolio
Examples of
companies that are
(not) innovative
Company culture
• A focus on fostering innovation
• Innovation a core and
continuous process
• Top-management support
29. • Cross-company alliances
• Collaborative partnerships and
alliances
Project climate
• Appointment of dedicated,
accountable and empowered
cross-functional teams
• Teams are typically specialists
in R&D, engineering,
manufacturing/production and
marketing
Commercialisation
• Strategy, e.g., Brand extension
• Implementation - three phases:
• Pre-launch
• Launch
• Post launch
30. Interactionist communication model
Where sender and receiver play equal roles it is more likely to
result in
developing products that match motives, values & lifestyle
CULTURAL CONTEXT
1 2
Self / Other
Other / Self
Object of communication
Process
• Idea generation and
development
• Concept testing and refining
• Incremental improvement
Process, research, & metrics
NPD research
Combination of traditional and
contemporary research techniques:
31. • Brainstorming, focus groups,
Delphi, customer visits, conjoint
analysis ethnography, lead user
processes, crowdsourcing and
open innovation
Metrics & performance
• A focus on performance goals:
• Metrics for each stage of the NPD
process:
• Concept generation & testing
• Launch & post-launch performance
monitoring and review
Evaluate brand value
and track the brand
performance (BHT)
Concept
development &
testing
32. The process dimension
Idea
generation
Concept
development
& testing Product
improvement
The fuzzy-front end of innovation
Idea
generation
Concept
development
& testing
More advanced innovation themes
Problems &
innovative solutions
Barriers to innovation
diffusion
Unintended negative
33. consequence of innovation
Increasing
complexity
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
For the product (which includes service
aspects), & packaging elements of
the mix it is CRITICAL TO SATISFY
CUSTOMER NEEDS…
Clear competitive advantage can be
gained in this regard.
Consequently there are well
34. defined approaches for
understanding MOTIVES, VALUES
& LIFESTYLES
Focus groups and ethnographic research
are particularly effective in this regard
http://www.youtube.com/watch?v=9tHgNXzS2EY
http://www.youtube.com/watch?v=9tHgNXzS2EY
Physiological Needs
(food, water, air, shelter, sex)
Safety and Security Needs
(protection, order, stability)
Social Needs
(affection, friendship, belonging)
Maslow’s hierarchy of needs
Ego Needs
(prestige, status, self-esteem)
Self-
Actualisation
(self-fulfillment)
Lower order needs must
be satisfied first.
35. The least satisfied need
is the most motivating
SEGMENTATION &
POSITIONING
APPLICATIONS –
Many products (&
ads) seek to satisfy
particular needs in
the hierarchy ….
Much research (QUAL) in particular also seeks
to identify different orders or levels of need
Types of motivation
• POSITIVE MOTIVATION - driving force towards some
object or condition (e.g., a university degree) often
referred to as an APPROACH object
• NEGATIVE MOTIVATION - driving force away from
some object or condition (e.g., unemployment) thus
sometimes referred to as an AVOIDANCE object
http://www.youtube.com/watch?v=Iew6JNJcfFM
• The consumption of certain brands or products can
also contradict or conflict with other motives / goals…
36. • Suppliers seek to reduce conflict to increase
consumption of their brands.
http://www.youtube.com/watch?v=Iew6JNJcfFM
Research (QUAL in
particular) seeks to
establish sources of
positive & negative
motivation, as well as
conflicting motives.
“Just like a Mars, only red”
“Legendary taste half the fat”
How does research establish
sources of motivational
conflict?
What are all the
reasons people
have for eating
at McDonald’s
& what are all
the reasons
37. people have for
NOT eating at
McDonald’s
What are all the
things you like
about petrol?
& what are all the
things you don’t
like about it?
http://www.creativereview.co.uk/crblog/wp-
content/uploads/2007/11/01-bp-ultimate-a1-lessemiss.jpg
Irrational logic – but it works?
S 400 BlueHYBRID the world's most economical luxury saloon
…. fuel consumption a mere 7.9 litres per 100 kilometres.
What conflict is
being reduced
here?2015 emissions
fraud!
38. Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
Product research – concept testing
– can be a qual’ or quant’ approach…
DESCRIBE / SHOW NEW PROD with proposed mix elements,
e.g., price, then
probe on
– Likes and dislikes
– Easy to understand
– How interested in buying
• if not why not
39. - Product meant for?
– How you feel about its VALUE
• if poor how much WILLING TO PAY
– Rate in terms of being DIFFERENT from other products
– How BELIEVABLE is the new product idea
Approach aims to:
• establish potential market
• tweak / modify the concept
40
30
25
30
35
25
5 5
0
10
41. people like
me
Same as
other
products
Does NOT
appeal to
me
% Overall top box
Fictitious new product concept rating
(top box / strongly agree %)
Base : 400
%
top
box
4.5
4.2
4
3.8
42. 4.1
3
3.9
1
2
3
4
5
A B C D E F G
Malaria drug satisfaction rating
Fictitious case malaria drug patient
satisfaction scores
Satisfaction: 1= Extremely dissatisfied 5= Extremely satisfied
M
e
a
n
r
a
43. ti
n
g
Base: 1500 overall.
Good for benchmarking a brand’s relative market appeal v.
competition… Indicates degree to
which a product might improve relative to competition
?
Fictitious case Malaria drug A likes
40
40
30
20
20
15
20
0 10 20 30 40
Effective treatment
44. Cheap
Easily available
Easy to take
Can be taken without
food
Can repeat dose after
vomiting
Clear instructions
Likes % Base: 1500 respondents
Simple dislikes and dislikes can give key pointers for product
enhancement
Fictitious case Malaria drug F dislikes
50
35
25
20
15
10
45. 25
0 10 20 30 40 50
Expensive
Taste
Not readily available
Unsuitable for children
Can cause vomiting / nausea
May not feel like eating
Side effects
Dislikes %
Base: 1500 respondents
Examining drug F DISLIKES against the LIKES of best in class
helps
to reveal areas for improvement / attention
How
does F
compete
with A?
46. Product research – Gap analysis
‘Development News Website’ performance v. importance
ratings
65 65
54 51
43
3839
72
55
45
35 32
0
20
40
60
80
100
Objective and
accurate reporting
Focus on
47. humanitarian
issues
Focus on Africa Making you aware
of new
humanitarian
issues
Up to the minute
information
Country profiles
Importance Performance
Top
box
%
Importance rated 1 to 5 where 1 = not important & 5 =
absolutely essential
Performance rated 1 to 5 where 1 = very poor and 5 = very good
Mean ratings appear in the blue boxes / Top box % in the bar
chart
Base : 1500 Development website users
Describe the type of attitude information presented and how it
48. can be used.
Describe the data & what the company might do
http://www.irinnews.org/
http://www.irinnews.org/
CDU Business School
Lesson 09 Strategic considerations -
Innovation and NPD
Reading: review chapters
7, 8 and 9
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
49. Incremental vs.
radical innovation?
(& NPD)
Innovation - why bother?
What are they?
Examples of each?
Leader vs. follower innovation strategies
Technological leadership
First-mover advantage may be achieved by:
• Patent protection – where possible
• Secrecy and advances in the product
innovation learning curve
Value chain strategies
The market pioneer may be in a position to:
• Pre-empt sources of supply
• Shape the way the product is distributed
• Establish close relationships or strategic
alliances with distribution partners
50. Take-over
Let the pioneer take all the risks then
acquire the skills, patents, learning curve
Follower
Capitalise on mistakes made by the pioneer
Leapfrog the pioneer by perfecting the
processes:
• lower price due to economies of scale
• a technologically superior product /
superior product quality
• superior product positioning – value
proposition / segmentation
• superior customer service
• Superior marketing
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
51. – Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
Seven dimensions of NPD best practice
See chapter 9 of the unit
text for greater detail
Process,
research, metrics
are all closely
inter-related
The innovation strategy dimension
• NPD is considered within the context of
the organisation’s mission and vision and
long-term strategic planning processes
• Considered to be an ongoing process
• Focus on maintaining the right balance for
52. the innovation portfolio
Examples of
companies that are
(not) innovative
Company culture
• A focus on fostering innovation
• Innovation a core and
continuous process
• Top-management support
• Cross-company alliances
• Collaborative partnerships and
alliances
Project climate
• Appointment of dedicated,
accountable and empowered
cross-functional teams
• Teams are typically specialists
in R&D, engineering,
53. manufacturing/production and
marketing
Commercialisation
• Strategy, e.g., Brand extension
• Implementation - three phases:
• Pre-launch
• Launch
• Post launch
Interactionist communication model
Where sender and receiver play equal roles it is more likely to
result in
developing products that match motives, values & lifestyle
CULTURAL CONTEXT
1 2
Self / Other
Other / Self
Object of communication
54. Process
• Idea generation and
development
• Concept testing and refining
• Incremental improvement
Process, research, & metrics
NPD research
Combination of traditional and
contemporary research techniques:
• Brainstorming, focus groups,
Delphi, customer visits, conjoint
analysis ethnography, lead user
processes, crowdsourcing and
open innovation
Metrics & performance
• A focus on performance goals:
• Metrics for each stage of the NPD
55. process:
• Concept generation & testing
• Launch & post-launch performance
monitoring and review
Evaluate brand value
and track the brand
performance (BHT)
Concept
development &
testing
The process dimension
Idea
generation
Concept
development
& testing Product
improvement
The fuzzy-front end of innovation
Idea
generation
56. Concept
development
& testing
More advanced innovation themes
Problems &
innovative solutions
Barriers to innovation
diffusion
Unintended negative
consequence of innovation
Increasing
complexity
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
57. • NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
For the product (which includes service
aspects), & packaging elements of
the mix it is CRITICAL TO SATISFY
CUSTOMER NEEDS…
Clear competitive advantage can be
gained in this regard.
Consequently there are well
defined approaches for
understanding MOTIVES, VALUES
& LIFESTYLES
Focus groups and ethnographic research
are particularly effective in this regard
http://www.youtube.com/watch?v=9tHgNXzS2EY
http://www.youtube.com/watch?v=9tHgNXzS2EY
Physiological Needs
(food, water, air, shelter, sex)
Safety and Security Needs
58. (protection, order, stability)
Social Needs
(affection, friendship, belonging)
Maslow’s hierarchy of needs
Ego Needs
(prestige, status, self-esteem)
Self-
Actualisation
(self-fulfillment)
Lower order needs must
be satisfied first.
The least satisfied need
is the most motivating
SEGMENTATION &
POSITIONING
APPLICATIONS –
Many products (&
ads) seek to satisfy
particular needs in
the hierarchy ….
59. Much research (QUAL) in particular also seeks
to identify different orders or levels of need
Types of motivation
• POSITIVE MOTIVATION - driving force towards some
object or condition (e.g., a university degree) often
referred to as an APPROACH object
• NEGATIVE MOTIVATION - driving force away from
some object or condition (e.g., unemployment) thus
sometimes referred to as an AVOIDANCE object
http://www.youtube.com/watch?v=Iew6JNJcfFM
• The consumption of certain brands or products can
also contradict or conflict with other motives / goals…
• Suppliers seek to reduce conflict to increase
consumption of their brands.
http://www.youtube.com/watch?v=Iew6JNJcfFM
Research (QUAL in
particular) seeks to
establish sources of
positive & negative
motivation, as well as
conflicting motives.
60. “Just like a Mars, only red”
“Legendary taste half the fat”
How does research establish
sources of motivational
conflict?
What are all the
reasons people
have for eating
at McDonald’s
& what are all
the reasons
people have for
NOT eating at
McDonald’s
What are all the
things you like
about petrol?
& what are all the
things you don’t
like about it?
61. http://www.creativereview.co.uk/crblog/wp-
content/uploads/2007/11/01-bp-ultimate-a1-lessemiss.jpg
Irrational logic – but it works?
S 400 BlueHYBRID the world's most economical luxury saloon
…. fuel consumption a mere 7.9 litres per 100 kilometres.
What conflict is
being reduced
here?2015 emissions
fraud!
Overview
• Innovation strategy
– Incremental innovation vs radical innovation
– Innovation dimensions and process
• NPD research
– Idea generation and understanding need & motivation
– Product concept testing
– Evaluating & improving products
62. Product research – concept testing
– can be a qual’ or quant’ approach…
DESCRIBE / SHOW NEW PROD with proposed mix elements,
e.g., price, then
probe on
– Likes and dislikes
– Easy to understand
– How interested in buying
• if not why not
- Product meant for?
– How you feel about its VALUE
• if poor how much WILLING TO PAY
– Rate in terms of being DIFFERENT from other products
– How BELIEVABLE is the new product idea
Approach aims to:
• establish potential market
• tweak / modify the concept
65. Fictitious new product concept rating
(top box / strongly agree %)
Base : 400
%
top
box
4.5
4.2
4
3.8
4.1
3
3.9
1
2
3
4
5
66. A B C D E F G
Malaria drug satisfaction rating
Fictitious case malaria drug patient
satisfaction scores
Satisfaction: 1= Extremely dissatisfied 5= Extremely satisfied
M
e
a
n
r
a
ti
n
g
Base: 1500 overall.
Good for benchmarking a brand’s relative market appeal v.
competition… Indicates degree to
which a product might improve relative to competition
?
Fictitious case Malaria drug A likes
67. 40
40
30
20
20
15
20
0 10 20 30 40
Effective treatment
Cheap
Easily available
Easy to take
Can be taken without
food
Can repeat dose after
vomiting
Clear instructions
Likes % Base: 1500 respondents
68. Simple dislikes and dislikes can give key pointers for product
enhancement
Fictitious case Malaria drug F dislikes
50
35
25
20
15
10
25
0 10 20 30 40 50
Expensive
Taste
Not readily available
Unsuitable for children
Can cause vomiting / nausea
May not feel like eating
69. Side effects
Dislikes %
Base: 1500 respondents
Examining drug F DISLIKES against the LIKES of best in class
helps
to reveal areas for improvement / attention
How
does F
compete
with A?
Product research – Gap analysis
‘Development News Website’ performance v. importance
ratings
65 65
54 51
43
3839
72
55
45
71. Country profiles
Importance Performance
Top
box
%
Importance rated 1 to 5 where 1 = not important & 5 =
absolutely essential
Performance rated 1 to 5 where 1 = very poor and 5 = very good
Mean ratings appear in the blue boxes / Top box % in the bar
chart
Base : 1500 Development website users
Describe the type of attitude information presented and how it
can be used.
Describe the data & what the company might do
http://www.irinnews.org/
http://www.irinnews.org/
Assessment 3 Rubric
Assignment 3: Organic and inorganic growth strategies
Levels of Achievement
Criteria High Distinction Distinction Credit Pass Fail
72. Introduction 85.00 to 100.00
%
Excellent, concise
introduction, that
covers the
assignment
structure,
description of the
marketing
strategy process,
and target
market.
75.00 to 84.00 %
Good
introduction,that
covers the
assignment
structure,
description of the
marketing strategy
process, and target
market.
60.00 to 74.00 %
Reasonable
introduction, that
covers the
assignment
structure, and
description of the
marketing
73. strategy process.
50.00 to 59.00
%
Limited
introduction
that covers
some of the
required aspects
- the assignment
structure.
description of
the marketing
strategy
process.
0.00 to 49.00 %
Inadequate -
does not cover
the required
aspects.
Assessment of
Market
Potential
85.00 to 100.00
%
Excellent
explanation of
target market
potential with
data cited from
74. credible sources
used to calculate
market potential.
75.00 to 84.00 %
Good explanation of
target market
potential with data
from credible
sources.
60.00 to 74.00 %
Reasonable
explanation of
target market
potential.
50.00 to 59.00
%
An attempt to
calculate target
market potential
with limited
information
provided.
0.00 to 49.00 %
Inadequate
information on
target market
potential.
75. Name
Description
Rubric Detail
Weight
5.00%
Weight
15.00%
S222 BUS304 EVIDENCE BASED STRATEGY CREATION
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ics?dispatch=view&context=...
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Levels of Achievement
Criteria High Distinction Distinction Credit Pass Fail
Growth
Strategies
85.00 to 100.00
%
Excellent
description of the
market
opportunity for
organic and
inorganic growth.
76. Thorough
re�ection on all
strategies related
to organic and
inorganic growth
with clearly
stated objectives
and possible
strategies.
75.00 to 84.00 %
Good description of
the market
opportunity for
organic and
inorganic growth.
Thorough re�ection
on all strategies
related to organic
and inorganic growth
with clearly stated
objectives.
60.00 to 74.00 %
Reasonable
description of the
market
opportunity for
organic and
inorganic growth.
Thorough
re�ection on all
strategies related
to organic and
77. inorganic growth.
50.00 to 59.00
%
Some relevant
description of
the market
opportunity for
organic and
inorganic
growth.
0.00 to 49.00 %
Minimal relevant
description
description of the
market
opportunity for
organic and
inorganic growth.
Restructuring
Moves
85.00 to 100.00
%
Excellent
explanation of
areas in need of
downsizing and
down-scoping
justi�ed with
relevant data and
78. supported with
BCG matrix
results.
75.00 to 84.00 %
A good attempt to
explain the areas in
need of downsizing
and down-scoping
justi�ed with
relevant data.
60.00 to 74.00 %
Reasonable
attempt at
explanation of
areas in need of
downsizing and
down-scoping.
50.00 to 59.00
%
Limited attempt
explanation of
areas in need of
downsizing and
down-scoping.
0.00 to 49.00 %
Inadequate
attempt at
explanation of
79. restructuring
moves.
Weight
30.00%
Weight
20.00%
S222 BUS304 EVIDENCE BASED STRATEGY CREATION
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ics?dispatch=view&context=...
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Levels of Achievement
Criteria High Distinction Distinction Credit Pass Fail
Cooperative
Strategies
85.00 to 100.00
%
Excellent
description of
cooperative
strategies
including
strategic
alliances,
franchising
opportunities
80. and network
cooperation with
each justi�ed in
the light of
targeted
objectives and
cooperating �rms
in view.
75.00 to 84.00 %
Good description of
cooperative
strategies including
strategic alliances,
franchising
opportunities and
network cooperation
with each justi�ed in
the light of targeted
objectives.
60.00 to 74.00 %
Reasonable
description of
cooperative
strategies
including
strategic
alliances,
franchising
opportunities and
network
cooperation.
81. 50.00 to 59.00
%
Limited
description of
cooperative
strategies.
0.00 to 49.00 %
Inadequate
description of
cooperative
strategies.
Report
presentation,
structure,
format, as
well as
appropriate
resources and
referencing
85.00 to 100.00
%
Follows academic
rules of writing.
Clear and logical
structure with
appropriate
headings and
section lengths.
Excellent writing
style with proper
82. use of grammar
and spell
75.00 to 84.00 %
Generally follows
academic rules of
writing. Clear and
logical structure with
appropriate
headings and section
lengths. E�ective
writing style with
proper use of
grammar and spell
checked.
Appropriate sources
60.00 to 74.00 %
Some e�ort to
follow academic
rules of writing.
Reasonable
structure with
appropriate
headings and
section lengths.
Reasonable
writing style. In
the main a
proper use of
50.00 to 59.00
%
83. An attempt to
follow academic
rules of writing.
Appropriate
headings -
section lengths
and content
might be
improved.
Reasonable
writing style.
0.00 to 49.00 %
Adherence to
academic writing
rules has not
been
demonstrated.
Required format
has not been
followed.
Improper
referencing style
used, text has
been pasted in
Weight
20.00%
Weight
10.00%
S222 BUS304 EVIDENCE BASED STRATEGY CREATION
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ics?dispatch=view&context=...
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Levels of Achievement
Criteria High Distinction Distinction Credit Pass Fail
checked.
Appropriate
sources are used
and all are
accurately cited
and referenced
using a
consistent and
appropriate
format.
are used and most
are accurately cited
and referenced using
a consistent and
appropriate format.
grammar and
spell checked.
Appropriate
sources are used
and most are
cited and
referenced using
a consistent and
appropriate
format.
85. Grammar and
spelling might
be improved.
Additional
resources might
be used used.
Some attempt
at citing and
referencing.
Inconsistent
referencing
standards.
large slices
without relevance
and proper
recognition.
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87. For assignment 3 you are required to suggest strategies for
growth using
organic and inorganic growth models, possible mergers and/or
acquisitions, appropriate retrenchment strategies to achieve
efficiency
and some cooperative strategies.
Preparation: In preparation, you should review the detailed
assignment instructions
in the Learnline assessment folder. Please don’t stress about the
assignment or attempt to start it before you have been given
further
instruction.
As the unit progresses, you will be guided through the
assignment, so it
will be important to engage with the assignment-related
activities.
You will also be guided as to the reading and resources you
should bring
into the assignment.
Presentation: Please keep to the word count and follow the
assignment instructions
88. closely, using the same headings. (Do not include an Executive
Summary).
Please indicate the number of words written in each section, as
well as
the total word count at the end.
You may attach appendices to provide context to your
assignment, but
please note that appendices do not contribute to the marks.
Please use a recognized journal-style referencing formats such
as
Harvard or APA. Be sure to consult the assignment rubric and
detailed
instructions in the Learnline assessment folder for more details.
Assessment Task 3 – BUS304
Evidence based strategy creation
NB. Please submit a Microsoft Word document and not a pdf.
Assessment criteria: For the purpose of this assignment, you
must demonstrate a
clear understanding of the business strategy and planning
89. process using the concepts and themes covered in the unit
lessons.
SPECIFIC DETAILS:
Assignment background and industry context
This assignment involves the development of strategies for
growth and efficiency. It will
improve your appreciation of the various growth and efficiency
models. In this assignment,
you will perform the same tasks undertaken by strategists at
functional (NPD, Market
Penetration and Market Development) and corporate levels
(Mergers and Acquisitions,
Restructuring, and Cooperative strategies) for growth and
maintaining the efficiency of a
business. More specifically, you will describe the strategic
rationale for possible organic and
inorganic growth strategies, restructuring approaches, and
cooperative moves to expand the
business as well as achieve efficiency for an improved bottom
line.
The challenging home entertainment retail marketing
environment has resulted in the
recent development of new-generation products, new market
segments, and possible
restructuring opportunities to achieve a variety of strategic
objectives. For Assignment 3 you
will focus on proposing some of such initiatives for your target
corporate brand.
Specific assignment tasks
90. Assignment 3 assumes that JB Hi-Fi Australia is considering
expanding its business in some
South Asian markets where it is not currently present (this is
just an assumption). You will
be required to choose ONE of these countries as a potential
‘target market’ and reflect on
the following with the help of data:
1. Conduct an assessment of the target market potential
2. Suggest possible growth strategies using models of market
penetration, new product
development, and market development
3. Identify potential merger and acquisition opportunities and
suggest strategies
4. Identify potential restructuring moves to gain efficiency
5. Suggest possible cooperative strategies
More specifically, your assignment should contain the following
headings/sections:
1. Introduction (approx. 250 words)
Introduce your assignment content. Describe the importance of
growth and
retrenchment strategies for business. Identify your target market
here (from
Assessment Task 3 – BUS304
Evidence based strategy creation
amongst the South Asian countries). Summarise your
91. assessment in this section and
identify assumptions, if any.
2. Assessment of Target Market Potential (400 words)
Conduct a target market potential assessment to justify your
choice. Week 8 lecture
slides on market penetration and market development provide a
framework for
developing market potential assessment.
3. Growth Strategies (approx. 700 words)
A. Organic Growth
This section describes how JB Hi-Fi Australia can take
advantage of various organic
growth strategies, including new product development, market
development and
market penetration, to expand and establish its business in the
targeted market.
Please note that more than one approach can be adopted
simultaneously to
promote various brand divisions in the portfolio. Justify your
choice with data or
based on literature related to the growth strategies.
B. Inorganic Growth
Reflect on the possibility of any merger and acquisition
opportunity and explain why
such a strategy may come in handy. Demonstrate the benefits
and suggest
precautionary measures to avoid failure of such strategy. Also,
identify target
92. companies for related and/or unrelated mergers/acquisitions.
4. Restructuring Moves (approx. 500 words)
Based on the assessment of JB Hi-Fi Australia brand portfolio,
identify areas for
downsizing and downscoping, and justify how would such a
strategy result in
improved profitability. BCG matrix analysis can be useful to
recognize such
opportunities.
5. Cooperative Strategies (approx. 500 words)
In order to be successful and to get a kick start in your targeted
market, suggest how
and with whom would you develop any strategic alliance or
enter into joint ventures.
Reflect on the type of strategic alliance(s) that might be
possible and rationalize how
they would benefit JB Hi-Fi Australia in its quick entry and
establishment in the new
market. You are free to select from other possible cooperative
strategies as well,
such as franchising, network cooperative strategy etc. Justify
your choice with the
objectives you intend to achieve with suggested cooperative
strategies.
6. Conclusion (approx. 150 words)
A brief overview that reiterates the importance of strategic
planning and stresses the
93. significance of implementing an effective strategy for business
success.
Assessment Task 3 – BUS304
Evidence based strategy creation
Assessment format
To successfully complete this assignment, you should prepare a
report that:
▪ Is a Microsoft Word document and not a pdf.
• Is well written and properly spell-checked and proof read.
• Follows the assignment instructions closely and uses the same
headings.
• Indicates the number of words written in each section, as well
as the total word
count.
• Uses a recognized business journal style of referencing format
such as Harvard or
APA.
• Is 2500 words long MAXIMUM (excluding figures,
appendices, bibliography - please
note that appendices do not contribute to the marks). There is a
considerable
amount to cover, so it will be important that you write clearly
94. and concisely.
Submission & mark allocation
The assignment must be submitted on time via Learnline.
% allocation of marks for this assignment is as follows:
Introduction 5
Assessment of Market Potential 15
Growth Strategies 30
Restructuring Moves 20
Cooperative Strategies 20
Report structure/presentation and effective referencing, citation,
and
evidence of adequate literature search
10
Total 100
(See Learnline for further details of assessment submission and
marking procedures/policy).