BIZ301 Organisational Creativity and Innovation

Running head: INNOVATION
Organisational Creativity and Innovation
‘Travel Switch- Where tourists have an edge over others’
Name of the Student
Name of the University
Author Note

INNOVATION1
Executive Summary
The report will be dealing with the venture plan of launching an online social media
application known as Travel Switch that will help the tourists in visiting the places in
Australia. It will help the tourists in getting a better level of experience so that they can enjoy
their stay within the country both for leisure or business activities.
The opportunity that is present in the market has been provided so that the application can be
launched successfully. The value proposition of the product has also been given so that it can
help in understanding the profitability of the product in the market and the reason why the
customers will be opting for it. The success factors that will help the product to be successful
in the market has been provided so that it can result in understanding the reasons for the
customers to download the application.
The service also needs to be marketed so that the customers are aware of the new product that
is launched. This will help in increasing the demand in the market so that the level of profits
can be increased. The positioning of the company with respect to its quality and price has
also been provide and justified so that the customers can understand it. Finally, the financial
projections has been given so that it can help in understanding the level of profitability fo the
company.

INNOVATION2
Table of Contents
Introduction................................................................................................................................3
Analysis on possible market gap/opportunity............................................................................3
Develop value proposition of the innovative product................................................................4
Business Model Canvas.........................................................................................................6
Success factors.......................................................................................................................7
Marketing and channel strategy approach..................................................................................8
Competitive strategy and positioning.......................................................................................10
Market positioning...............................................................................................................11
Financial viability of the venture.............................................................................................12
Investment needs..................................................................................................................12
Break-even Analysis............................................................................................................12
Cash Flow Statement............................................................................................................13
Balance Sheet Projections....................................................................................................13
Reference List..........................................................................................................................16

INNOVATION3
Introduction
The modern times have seen that the business organizations need to undergo changes
in its strategies so that it can help them to be sustainable in the upcoming years. The failure in
adopting the strategies within the business may hamper the sustainability of the company and
the nature in which the business is being conducted (Dalmasso et al., 2013). The main
purpose of this report will be to highlight the usage of an online travel application that will be
of great help to the tourists who are visiting to the different parts of Australia. It will also act
as a common platform for the tourists to stay connected with each other and see the feedbacks
regarding the places they have visited. The application will be known as Travel Switch where
the tourists can get all the information regarding the places that they can visit in and around
Australia. The application will be very useful for customers who are frequent travellers both
nationally and internationally.
Analysis on possible market gap/opportunity
The business with respect to tourism has increased two folds due to the increase in the
spending capacity of the customers and their willingness to visit new places. This has made a
country like Australia very famous due to its breath taking scenic beauties with respect to
mountains and beaches. The pristine beaches have have allowed the tourists in enjoying the
sunsets in a better manner with a panoramic view of the oceans. Additionally, the
advertisements made by Tourism Australia have showcased the spots where tourists can visit
to enjoy their holiday in a better way. This has resulted in a huge inflow of tourists in the
country all year round (Christensen, Raynor & McDonald, 2015).
The major reason for the tourists to visit the country is that it allows them in exploring
new places so that the tourists can feel a greater sense of adventure. The national tourists also
visit their relatives and friends who may stay in other parts of the country, which also results