Innovation and Sustainable Business Development Report 2022

Running Head: Innovation and Sustainable Business Development
Innovation and Sustainable Business Development
Name of the Student:
Name of the University:
Author’s Note

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Executive Summary
The aim of the report is to illustrate on the value proposition of for the company Hyper Loop
which aims in building transportation on a higher scale. The purpose of the report is to
highlight on different models of innovation like the logical and persuasive argumentation
which is selected for innovation tools and techniques. On the other hand it also illustrates on
Logical and persuasive application of the selected innovation tools and techniques. The
method of inculcating these innovation theory or technique will assist the small business or
organisation to function properly and in a systematic manner.

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Table of Contents
Introduction....................................................................................................................3
Discussion......................................................................................................................3
Novel value proposition.............................................................................................3
Value Proposition Proposal........................................................................................3
Selection of best value proposition idea.....................................................................4
Innovative tools and technique.......................................................................................5
Logical and persuasive argumentation for the selection of the innovation tools and
techniques...............................................................................................................................5
Logical and persuasive application of the selected innovation tools and techniques 6
Conclusion......................................................................................................................8
Reference........................................................................................................................9
Appendix......................................................................................................................11

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Introduction
The report is based on different innovation technique and sustainable business
development with inclusion of various tools and techniques (Rosca, Arnold & Bendul, 2017).
The aim of the report is to illustrate on the novel value proposition in the existing market as it
can be applied in new ideas or in the existing product or service in order to facilitate
improvement. The method of inculcating these innovation theory or technique will assist the
small business or organisation to function properly and in a systematic manner. Further the
report will discuss on five different techniques that will assist in understanding the reasonable
and persuasive disagreement for selection of innovative tools and on the other hand there are
five other techniques of logical and persuasive application (França et al., 2017). Lastly the
recommendation and conclusion section will assist in determining the self analyzing section
which will state the suggestion on development of individual innovation capabilities and
practice by identifying their personal strength and weakness with suggestions on self
improvement.
Discussion
Novel value proposition
A value proposition can be defined as the kind of technique which tends to create its
own customers. The novel value proposition assists the entrepreneurs in expanding the
market by implementing new business model or new techniques or innovation tool that
facilitates the market growth (Åkesson et al., 2016). With an instance until the iPad came into
the market the customer did not realize there could be a want of tablets but t was the
innovative strategy of Apple which could effectively create a new demand. The value
proposition of the business caters to promise the delivery to the customers where they should
choose to buy the products.
Value Proposition Proposal
With reference of the value proposition proposal of the company the Space X caters to
create a revolution terrestrial transportation through the Hyper loop services. These are the
services where the organisation provides it to the innovators ad the universities across the

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world who is interested in high-speed transportation technology and solution. The
opportunity which the Space X is facing is to create new market with new products in it. The
development of the technology comprises of pros and cons where the limitation needs to be
identified beforehand (Werner, Eißing & Langton, 2016). The limitation of the target is to
bring in several technologies which is firstly feasible and is mature as there are many devices
which are still to be tested. These limitations must be drawn and a solution must be analyzed
where the service of inventing new technology can be accessed by the candidates who are
interested from various universities across the globe and the innovators of Silver X. Hence
the value proposition of Silver X where the benefits of customer market segment depends on
the development of the technology that support the least and can create a huge impact (Kim et
al., 2018). It has the ability to reduce the air which travels between big cities, boost the trade
and economics and also reduces the demands on the accommodation in cities by allowing the
commuters to love further away.
Selection of best value proposition idea
The selection of the best value proposition technique can be illustrated by section of
value proposition canvas which is a instrument and assist in ensuring that the service of
Silver X is located around what the customer values needs. The value proposition canvas is
initiated and developed by Dr. Alexander Osterwalder as a set of structure in order to ensure
that there is a fit between the market and the product. On the other hand the other selection of
value proposition is the production model canvas. Hence the business model canvas is a
premeditated management tool which is quick and easily defines and communicates the
business concepts and ideas.
The business potential of Hyper loop Technology is facilitated as the fastest proposed
commute option that runs on an average speed of 600 mph. It assists the mode of
transportation where pods travel through the vacuum sealed tubes reaching a speed of 500
miles per hour. It enables the system of reducing the travel time and the transportation cost
and makes it less expensive. Therefore it also includes the minimum infrastructural
maintainace and comprise of less area of land. The customer desirability fits in the hyper
loop which unveils the passengers’ capsule (Jia et al., 2019). The corporation has not fully
finished the interior which it says will fit between the 28 to 40 passengers. According to Elon
Musk the estimated cost to ride the Hyper Loop from Kos Angeles to San Francisco would

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cost around $6 million or $11.5 million per mile. On the other hand the technical feasibility
of the company is creating a foundation on the ground on creating a crowd collaborative
approach which comprise of an assortment of crowd sourcing and collaboration in order to
develop a transportation system which can be based on the Hyper Loop concepts (Taylor,
Hyde & Barr, 2016). It has been initiated first in Spain as the Hyper Loop transportation
Technologies unveils the full scale passenger capsule in Cadiz, Spain. The economic
condition proposed by the company comprise of the financial viability that takes around
thirty five minutes to travel in one way. Besides the challenges examined in the company the
entrepreneur must focus on delivering the capacity to succeed the commercial. The future
development of the company is like catered in undertaking a project which is proposed by the
Silver X and is assisting a large burden. It is anticipated to be 350 mile trip between two
directions.
Innovative tools and technique
Logical and persuasive argumentation for the selection of the innovation tools and
techniques
The logical and persuasive argumentation which is selected for innovation tools and
techniques are:
Market segmentation: the market segmentation of Hyper Loop assist the process of dividing
the market where potential customers are divided into group or small segment based on the
specified features of the organisation. The segment of market are composed to create a
consumer base who will respond similarly to the promotion strategies and also shares the
similar interest in the market along with the locations and needs (Venter, Wright & Dibb,
2015). The attributes of demographic, geographic, psychological and behavioral are also
given primary importance.
High level product specification: the Hyper Loop must organize its meeting with the
employee which includes the process of power point presentation because this application
helps in analyzing the work in a descriptive manner and assist the employee in understanding
as visual sight is easily recalled. This technique of product specification is something which

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explains the solutions and caters to solve the customer query. However the product
specification application comprises of the company’s blue print which describes the elements
of the product developed.
Determine the customer’s Decision-Making Unit: this innovative tool of determining the
customer decision making ability depends on the process the customers who can learn and
make the ultimate decisions in order to purchase the products and can advocate the technique
of purchasing it. It is however important for the business to identify the customer’s needs and
requirement. Building up expensive products means the organisation is specified only on the
high income earners.
Brainstorm ideas: the tool of brainstorming will assist the company in understanding the
techniques it should obtain and the techniques it should eliminate from the company. Brain
storming facilitates to follow the certain rules which will make the employee to work hard
and will keep the first rule of creativity in general (Amrit & Hek 2016). It is vital to think
freely as it allows ideas to penetrate and pen them down so that later the operational head can
have a discussion based on the new ideas. For the innovators it is significant to keep in mind
that all the possible consideration must be taken seriously and foster collaboration.
Identify key assumptions: the key assumptions as an innovative tool and technique are
applied in the company because in each industry consideration of the key assumptions is
significant. The most important assumption of the Hyper Loop is its invention in technology
and keeping up with the other rival technological brands. There are potential investors who
usually need this information before they can make build up a model and put in their money.
Logical and persuasive application of the selected innovation tools and techniques
Business Model Canvas: the business model canvas is a strategic management innovative
tool which can be implemented in the organisation as it provides with quick access and can
be easily identified in order to communicate the business ideas or concepts. It is a single
document which brings in the application for of business ideas and concept, fundamental
elements of a business or product and the structure is applied in a coherent manner (Dudin et
al., 2015). Thus innovative model of business assist in improving the focus f the workers and
bring in clarity of what the business is trying to achieve. However it also eliminates the
traditional pattern of business plan and focus more on direct sales, advertising base,
franchising and many more as it combines the internal interest of the company.

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Porter's five forces: the application of Porter’s Five Force is a framework or a tool where the
company analyses the competitive environment of the market an customers, entrants, and
suppliers marks the number of rival present in the market. The company should also be
prepared with the emergence of the new competitive firm (Mathooko & Ogutu, 2015).
Therefore the five forces are the opposition in the industry, probable of the new entrants,
authority of suppliers, power of customers and lastly the threat of substitute products. With
the help of this framework the company can analyze the competitive lead and can also assist
the business in guiding the business strategy and increase the competitive advantage.
Customer journey canvas: this technique can be applied by the company in order to inculcate
the practical tool and help the overview of the product and service in order to generate
process and ideas and develop the service and refine it further. The company can facilitate the
use of the customer journey canvas in all the stages of the business like in pre stage, during
the ongoing business and when the service ends (Tranquillo, Kline & Hixson, 2016). The
significance of this theory is that it allows the managerial heads with the business in order to
stand out from its competitors.
Innovation readiness analysis: this innovative model of business creates a baseline
evaluation of the organization’s current and potential innovative efforts. The current
innovative readiness analysis creates the traits of the organisation in order to identify and
group the four levels of competencies. It is framework that comprise of three Swim Lanes
which is Alignment, Insights and Mobilization. The organisation will have the opportunity to
review the results and also identify the actionable stage (Lokuge et al., 2019). It creates an
alignment of the organisation to be perspective on innovation. Whereas the innovation
strengths can be a leverage right away for the reason of competitive advantage.
Value proposition canvas: the value proposition canvas can be applied on company or in any
particular line of production because this models ensures that the product and service which
is located around what the customer values the needs and anxiety. The value proposition
canvas is used when there is a need of refine a potential product or an existing product in the
market that offers its service where new offering are made. In order to implement this
innovative model the company needs to improve the existing problems and gather benefits
from the customers where it should buy from the existing competitors.

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Conclusion
A self reflection on development of personal innovation capabilities and practice can
be illustrated where I had used the element and could examine that it assisted me in analyzing
the ability of translation innovation in order to bring a change in the working. Often we fail to
realize the importance of innovation but adopting the tools of innovation assist in conducting
the business smoothly. The strength of inculcating innovation within me can be examined
with the attributes of being open mindedness because in order to bring in innovation it is
important to keep the mind clear and allow new ideas to generate. The weakness which I
could realize within me was the chance of acceptance as I could not gather courage to bring
in the new system of working with a sense of facing an issue in future.

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Reference
Åkesson, M., Skålén, P., Edvardsson, B., Stålhammar, A., & Sigala, M. (2016). Value
proposition test-driving for service innovation: How frontline employees innovate value
propositions. Journal of Service Theory and Practice.
Amrit, C., & Hek, J. (2016, January). Clustering the results of brainstorm sessions: Applying
word similarity techniques to cluster Dutch nouns. In 2016 49th Hawaii International
Conference on System Sciences (HICSS) (pp. 4232-4241). IEEE.
Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative
business model canvas in the system of effective budgeting. Asian Social Science, 11(7),
290-296.
França, C. L., Broman, G., Robert, K. H., Basile, G., & Trygg, L. (2017). An approach to
business model innovation and design for strategic sustainable development. Journal of
Cleaner Production, 140, 155-166.
Jia, P. Z., Razi, K., Wu, N., Wang, C., Chen, M., Xue, H., & Lui, N. (2019). Consumer
Desirability of the Proposed Hyperloop.
Kim, D., Memaripour, A., Badam, A., Zhu, Y., Liu, H. H., Padhye, J., ... & Seshan, S. (2018,
August). Hyperloop: group-based NIC-offloading to accelerate replicated transactions in
multi-tenant storage systems. In Proceedings of the 2018 Conference of the ACM Special
Interest Group on Data Communication (pp. 297-312).
Lokuge, S., Sedera, D., Grover, V., & Dongming, X. (2019). Organizational readiness for digital
innovation: Development and empirical calibration of a construct. Information &
Management, 56(3), 445-461.
Mathooko, F. M., & Ogutu, M. (2015). Porter’s five competitive forces framework and other
factors that influence the choice of response strategies adopted by public universities in
Kenya. International Journal of Educational Management.

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Rosca, E., Arnold, M., & Bendul, J. C. (2017). Business models for sustainable innovation–an
empirical analysis of frugal products and services. Journal of Cleaner Production, 162,
S133-S145.
Taylor, C. L., Hyde, D. J., & Barr, L. C. (2016). Hyperloop commercial feasibility analysis: high
level overview (No. DOT-VNTSC-NASA-16-01). John A. Volpe National Transportation
Systems Center (US).
Tranquillo, J., Kline, W., & Hixson, C. (2016, June). Making Sense of Canvas Tools. In ASEE
Annual Conference, New Orleans.
Venter, P., Wright, A., & Dibb, S. (2015). Performing market segmentation: a performative
perspective. Journal of Marketing Management, 31(1-2), 62-83.
Werner, M., Eißing, K., & Langton, S. (2016). Shared value potential of transporting cargo via
Hyperloop. Frontiers in built environment, 2, 17.

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Appendix
Appendix 1
Appendix 2

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Appendix 3
Appendix 4

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Appendix 5

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