Innovation sustainable business development Report 2022

RUNNING HEAD: Innovation and sustainable business development
Innovation and sustainable business
development

Innovation and sustainable business development
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Executive summary
The report below is developed to support the value proposition developed for the
company Lego Toys that is directed at the production of a smart board for the children with
visual impairments. The report analyses the current business model, core capabilities, value
proposition development, supply chain development and strategic fit of the company for the
development of the new product. The report also includes a phased development plan for
mitigation of the uncertainties. A critical reflection has been incorporated for describing own
strengths and weaknesses as experienced while conducting the research and preparing the report.

Innovation and sustainable business development
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Table of contents
Introduction......................................................................................................................................3
Business model description.............................................................................................................3
Value proposition development.......................................................................................................4
Business operations development....................................................................................................5
Supply chain development...............................................................................................................5
Financial value capture....................................................................................................................5
Competitive advantage....................................................................................................................5
Strategic fit.......................................................................................................................................6
Identification and assessment of assumptions and uncertainties.....................................................7
Phased development plan to address uncertainties..........................................................................7
Logical and persuasive argumentation for the selection of the innovation tools and techniques....8
Logical and persuasive application of the selected innovation tools and techniques......................9
Candid and critical self-analysis....................................................................................................10
Conclusion and recommendation..................................................................................................10
References......................................................................................................................................11
Appendices....................................................................................................................................13

Innovation and sustainable business development
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Introduction
Lego is a plastic toy manufacturing company based in Denmark (Www.lego.com., 2019).
For innovation and sustainable business development in the organization the implementation of
Artificial Intelligence and Machine Learning technology in the Smart boards for the blind
children is proposed along with value proposition. The report below identifies the existing
business model of the company and identifies the changes required to proceed with the proposal
by implementing different innovation tools and techniques for collecting information. The report
also contains a phased development plan for dealing effectively with the uncertainties associated
with the innovation.
Business model description
The existing business model of Lego included reputed business partners like WWF, Disney,
Warners Bros. However, for proceeding with the proposed value proposition the organization
also needs to incorporate a number of potential IT companies and technology providers as its
business partner. The business partners would provide efficient technologies that it can
incorporate inside its new product. On the other hand, the customer segments are also needed to
be changed to blind children, their specialized schools and NGOs. Business model canvas refers
to the template concerning the business model development or making changes in the existing
business model (Ovans, 2015). The proposed business model for the organization can be
explained with the Business model Canvas which is explained in the figure below.