Innovation and Management

Running head: INNOVATION AND MANAGEMENT
Innovation and management
Name of the student
Name of the university
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1INNOVATION AND MANAGEMENT
Executive summary
The aim of this report is to discuss about the potentiality of gaining business competitiveness in
the current business scenario. In doing so, this report introduced a new concept of portable
dynamo for domestic usages. This will help in regenerate electricity from the motion force
wastes as of now. The concept will be designed for the domestic usages and it will be first
targeted for gym, where motion force gets generated from cycling activities. The different
business elements of this concept are discussed in this report including operational, marketing
and financial plan. However, on the other hand, a few challenges and risks are also identified that
can pose barriers in the long term business. Recommended steps are also discussed to mitigate
these challenges and risks.

2INNOVATION AND MANAGEMENT
Table of Contents
Introduction......................................................................................................................................3
Venture description..........................................................................................................................3
Management analysis.......................................................................................................................5
Legal structure.............................................................................................................................5
Operational planning...................................................................................................................6
Marketing plan.................................................................................................................................7
Identification of target market.....................................................................................................7
Communication strategy..............................................................................................................7
Competitor’s analysis......................................................................................................................8
Financial analysis...........................................................................................................................10
Identification of key risks and challenges.....................................................................................12
Reference.......................................................................................................................................13

3INNOVATION AND MANAGEMENT
Introduction
Gaining sustainability is important in the current time due to the reason of increasing
pollution and environmental impacts. Majority of the unsustainable practices are being followed
in the daily activities and thus sustainability should be gained from the daily activities only. In
this case, it is important to develop new technologies and propositions, which will help to gain
the sustainability (Liu 2013). In the recent time, energy sources are the key streams of pollutions
as well as unsustainable practices and thus the change should be initiated from the energy
sources.
This report will discuss about the new technology being developed for initiating
sustainable generation of electricity and it is recommended that dynamo will be effective. Thus,
the objective of this report is to discuss about the viability of the recommended concept along
with the different elements required for successful development process. This will include
management plan, legal plan, marketing plan and competitor analysis. In addition, the financial
analysis will also be done to ensure the funding process for the new venture. There will be
certain risks and challenges to be faced, which will also be discussed and evaluated. Thus, the
long term viability for developing the recommended technology will be discussed.
Venture description
The success of the technologies developed in the current time is heavily dependent on the
level of sustainability. This is due to the reason that current state of affairs is more environmental
aware and sensitive. Thus, the value propositions should meet the cost effectiveness and
environmental standards in the market. Generation of the electricity is one of most challenging
aspects in the current time in terms of meeting sustainable standards (Tom Jose, Boban and Sijo