BSBINN501 - Innovation Systems: Idea Pitch and Assessment Details

This document presents an assessment summary for the BSBINN501 unit, focusing on establishing systems that support innovation. The assignment includes an 'Idea Pitch Demonstration' and a 'Practical case scenario brief analysis,' along with relevant documentation. The assessment covers the 'Innovation Connections' initiative, business objectives, and the Australian government's support for innovation growth. The student is required to analyze a case study from Moodle, provide an idea pitch to senior management, and discuss the National Innovation and Science Agenda. The assessment criteria include fairness, flexibility, validity, and reliability, with detailed procedures and specifications. The student's work is evaluated based on the idea's overview, market potential, conceptualization, and value proposition. The document also includes a student declaration, assessor declaration, and assessment conditions. The student must use Microsoft Office suites and submit the assessment via the student learning management system. Feedback is provided on each task, and the student is given an opportunity for reassessment if needed. The assessment adheres to the principles of evidence, including validity, sufficiency, authenticity, and currency.

Assessment Summary Sheet
 This form is to be completed by the assessor and used a final record of student competency.
 All student submissions including any associated checklists (outlined below) are to be attached to this cover sheet
before placing on the students file.
 Student results are not to be entered onto the Student Database unless all relevant paperwork is completed and
attached to this form.
Student Name:
Student ID No:
Final Completion Date:
Unit Code: BSBINN501
Unit Title: Establish systems that support innovation
Please attach the following documentation to this form Result
Assessment Week 5 Idea pitch demonstration S / NYS / DNS
Assessment Week 7 Practical case scenario brief analysis S / NYS / DNS
Final Assessment Result for this unit C / NYC
Feedback is given to the student on each Assessment task Yes / No
Feedback is given to the student on final outcome of the unit Yes / No
Student Declaration I have been assessed in a fair and
flexible manner. I understand that the Elite Education
Vocation Institute’s Student Assessment, Reassessment
and Repeating Units of Competency Guidelines apply to
these assessment tasks.
Assessor Declaration: I declare that I have conducted a
fair, valid, reliable and flexible assessment with this student,
and I have provided appropriate feedback.
Name: Name:
Signature: Signature:
Date: Date:
Assessment Cover Sheet
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Assessment Week Five Details
Term and Year Term 4 2017
Assessment Type Idea Pitch Demonstration
Due Date Class Room
Student Name:
Student ID No:
Date:
Qualification : BSB50215 Diploma of Business
Unit Code: BSBINN501
Unit Title: Establish systems that support innovation
Assessor’s Name
Student Declaration: I declare that this work has been
completed by me honestly and with integrity. I understand
that the Elite Education Vocation Institute’s Student
Assessment, Reassessment and Repeating Units of
Competency Guidelines apply to these assessment tasks.
Assessor Declaration: I declare that I have conducted a
fair, valid, reliable and flexible assessment with this student,
and I have provided appropriate feedback.
Name: Name:
Signature: Signature:
Date: Date:
Student was absent from the feedback session.
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Assessment/evidence gathering conditions
Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A student can only
achieve competence when all assessment components listed under procedures and specifications of the assessment
section are Satisfactory. Your trainer will give you feedback after the completion of each assessment. A student who is
assessed as NYS is eligible for re-assessment. Should the student fail to submit the assessment, a result outcome of Did
Not Submit (DNS) will be recorded.
Principles of Assessment
Based on Clauses 1.8 – 1.12 from the Australian Standards Quality Assurance’s (ASQA) Standards for Registered Training
Organizations (RTO) 2015, the learner would be assessed based on the following principles:
Fairness - (1) the individual learner’s needs are considered in the assessment process, (2) where appropriate, reasonable
adjustments are applied by the RTO to take into account the individual leaner’s needs and, (3) the RTO informs
the leaner about the assessment process, and provides the learner with the opportunity to challenge the result
of the assessment and be reassessed if necessary.
Flexibility – assessment is flexible to the individual learner by; (1) reflecting the learner’s needs, (2) assessing competencies
held by the learner no matter how or where they have been acquired and, (3) the unit of competency and
associated assessment requirements, and the individual.
Validity – (1) requires that assessment against the unit/s of competency and the associated assessment requirements
covers the broad range of skills and knowledge, (2) assessment of knowledge and skills is integrated with their
practical application, (3) assessment to be based on evidence that demonstrates tat a leaner could
demonstrate these skills and knowledge in other similar situations and, (4) judgement of competence is based
on evidence of learner performance that is aligned to the unit/s of competency and associated assessment
requirements.
Reliability – evidence presented for assessment is consistently interpreted and assessment results are comparable
irrespective of the assessor conducting the assessment
Rules of Evidence
Validity – the assessor is assured that the learner has the skills, knowledge and attributes, as described in the module
of unit of competency and associated assessment requirements.
Sufficiency – the assessor is assured that the quality, quantity and relevance of the assessment evidence enables a
judgement to be made of a learner’s competency.
Authenticity – the assessor is assured that the evidence presented for assessment is the learner’s own work. This would
mean that any form of plagiarism or copying of other’s work may not be permitted and would be deemed
strictly as a ‘Not Yet Competent’ grading.
Currency – the assessor is assured that the assessment evidence demonstrates current competency. This requires the
assessment evidence to be from the present or the very recent past.
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Resources required for this Assessment
 All documents must be created using Microsoft Office suites i.e., MS Word, Excel, PowerPoint
 Upon completion, submit the assessment via the student learning management system to your trainer along with the
completed assessment coversheet.
 Refer the notes on eLearning to answer the tasks
 Any additional material will be provided by Trainer
Instructions for Students
Please read the following instructions carefully
 This assessment is to be completed according to the instructions given by your assessor.
 Students are allowed to take this assessment home.
 Feedback on each task will be provided to enable you to determine how your work could be improved. You will be
provided with feedback on your work within 2 weeks of the assessment due date.
 Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge.
You will be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit
of competency.
 If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
 Please refer to the College re-assessment and re-enrolment policy for more information.
Procedures and Specifications of the Assessment
Learners are required to achieve an understanding of how the Australian government support the innovation growth in the
country through its ‘The Innovation Connections’ initiative.
Choosing from a selection of case studies located in the Moodle (folder labelled BSBINN501 case studies), Learners are to
provide an idea pitch to senior management (your trainer would undertake this role) to propose an innovative idea for the
selected company to consider as part of its future business objectives.
Learners are to use the template within this assessment tool to develop a potential idea that could provide a new product/
service that is innovative within the local industry in Australia. This idea should not be happening currently here, but
elements of it, or very similar projects could be happening outside of Australia or the company.
The idea pitch demonstration would lead the Learner to work through the process of developing an idea, pitch the idea
proposal and obtain feedback on the areas presented which includes:
 Section 1 – Idea overview
 Section 2 – Measuring market potential
 Section 3 – The conceptual idea
 Section 4 – Value proposition
The idea pitch would be assessed based on criteria on the following:
 The criteria assessment is defined against the 4 sections which would have a ‘Yes’, ‘Pending’ and ‘No’ check boxes
with a commentary column to provide additional information/ rationale to the evaluation.
 A scoring system would be tabulated according to the number of check boxes indicated during the evaluation step (as
above) to derive a relative measure to ascertain the approval decision for the idea pitched. This would also include
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feedback and approval from senior management (your trainer would undertake this role).
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Assessment Week 5
1. Choose any of the case studies that are available in Moodle and provide a discussion on the following
questions:
Name of company Right Click Capital
Company background
Australia’s venture capital arranged for encouraging several people to invest in highly potential
with early Australian countries. “Right Click Capital” organization supports Australian intranet for
tech start-ups with potential for going global. The organization achieved success for several other
companies such as hipages, connecting customers and salesperson in online marketplace.
Business objectives
The business objectives are mentioned as; (1) to facilitate cross-border transactions with offering
assistance for international companies to seek expert financial advices, (2) to utilize 10% tax offset
for people to invest through early stage venture capital limited partnerships (ESVCLPs), and (3) to
allow venture capital funds for providing more support to innovation.
Innovation area
expertise Investors, funding personnel, trading personnel
Current
business
performance
Profits
/ sales From $100 to $200 million
Market
reach $250 million
Performance gap/s
identified
The organization cannot divest companies to reach value of $250 million and cannot force for
selling stake in business in premature state.
Future business
direction
In future, the “Right Click Capital” considered changes in funding and investment as major
opportunity to support more early stage companies with appealing wider ranges of investors.
Proposed new
innovation direction
New innovative directions are proposed as “not only providing money”; besides it adds value with
spending time along with founders for helping with organization strategies and operations. The
innovation can help with expanding export to international markets.
Resources needed to
support new direction High-profile investors and potential funding requirements from different trading benefits
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2. Using the National Innovation and Science Agenda website <https://www.innovation.gov.au>, provide a brief
discussion on the following
Explain what is ‘The
Agenda’
Technological changes transform work, communication, and use of new and innovative
ideas into practice. For delivering next age of economic success in Australia, the agenda
states to cultivate new ideas into innovative and scientific activities. To be competitive,
innovation is potential solution and it provides scope to jobs. “National Innovation and
Science Australia” will drive smart and innovative ideas for creating business growth, global
success, and local jobs. The agenda includes initiatives of $1.1 billion over four years.
List out the areas which
the Agenda can assist
businesses
“National Innovation and Science Australia” took essential step towards innovative idea
implementation. For every sector of economy, innovation act as major part into ICT,
healthcare, education, agriculture, defence and transport sectors. The agenda can assist
with business areas as following:
1. ICT (Information and Communication Technology) sectors
2. Healthcare sectors
3. Agricultural sectors
4. Educational sectors
5. Defence sectors
6. Transport sectors and others
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Discuss what is ‘The
Innovation Connections’
initiative
“Innovation Connections” initiative is identified as major step towards collaboration between
universities and businesses. The primary aim of this initiative is to connect more smaller
and medium businesses along with researchers for expanding and relaunching successful
Research Connections Programme as innovation connections. “National Innovation and
Science Australia” took these initiatives with opening up Australian Research Council
Linkage projects for continuous applications towards fast-tracking decisions over
collaboration research grants. These initiatives can open up new application round over
Cooperative Research Centre program in February 2016.
What are the pre-
requisites (eligibility
criteria) for a business
to obtain support from
‘The Innovation
Connections’
Pre-requisites for ‘The Innovation Connections’ are: boosting innovation and science over
four key areas:
Culture and Capital: The Australians are known for smart ideas; however, they fail to back
at them for turning them into realities. Vision for Australians is to be confident, mitigating
risks, pursuing new ideas and learning from prior mistakes.
Collaboration: The collaboration consideration is over encouraging Australia’s researchers
and businesses for shaping industries and generating wealth.
Talent and skills: The Australian students are supported for embracing digital age with
promoting computing and coding for ensuring students to acquire problem-solving and
critical reasoning skills.
Government as an exemplar: The government plays key role to this initiatives as the
organization setting vision to future and putting innovative ideas over business.
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3. Based on Q1, prepare and pitch the new innovation idea to senior management (your trainer would represent this
role) in order to get support and approval for this project. Ensure that this pitch would be presented in line with
specific organisational objectives and business feasibility.
Demonstration/ observation checklist
Learner’s name <PLEASE FILL>
Assessor’s name <PLEASE FILL>
Work/ task activity Identifying aspects for providing values to funding
Date <PLEASE FILL>
Idea Pitch Template
Section 1: Idea overview
Name of idea Support tech start-ups
Illustration of
idea
Support tech start-ups for going global into Australian intranet; the investors are identified
as high net wealth individuals with offering superannuation funds. Right click capital
organization follows success for several potential Australian companies with connecting
customers.
Opportunity
justification
The opportunity serves to provide more support to early staged companies with appearing
more investors.
Idea inspiration The inspiration of idea came from global funding organizations; and their business
strategies.
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Section 2: Measuring market potential
Target audience Target audiences are global funding organizations
Measurability
(size, purchasing
power)
The size of organization is growing from start-ups
The organization provides purchasing power to tech start-up organizations
Accessibility
(market segment can
be reached and
served)
The market segmenting is identified as under investors and companies
1. Sustainability/
profitability
(segment
profitability)
The segments are chosen from profitability in funding requirements
Actionability
(attracting and
servicing a given
market segment)
The investors should be attracted to provide funding in business
Section 3: The conceptual idea
Concept idea # 1 Support tech start-ups from different finding sources
Concept idea # 2 Support tech start-ups from appointing investors
Selection of
concept idea
(please tick box)

 Concept idea # 1  Concept idea # 2
Rationale of
selected
innovation idea
Different funding sources should be chosen for supporting tech start-ups so that investors can
be appointed with high potential.
How does this fit
into the
organisation’s
range of product
portfolio
The organization’s portfolio can fit with this idea as the primary consideration of funding is to
achieve potential investment amount.
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Section 4: Value proposition
Value generated
Returns-
On-
Investment ROI can be estimated once the Cost-benefit analysis is considered.
Different or
better It is realized that different value can be generated from this idea.
Delivers
value/
solves
problem
The idea can deliver value to different target audiences of potential investors.
Doable/
practical The practical situation is raised as the idea can achieve the business goals.
Resources
required to
support new idea
(how can ‘The
Innovation
Connections play a
role here)
Innovation connection can be used as major part for implementing collaboration with
innovation and science project supporting tech start-up.
Impact on
competition The impact on competition is considered over business and strategic alignment so that start-
up business can achieve proper funding from Right Click Capital organization.
Cost-benefit analysis Cost
(limitation/s) The cost is estimated as $200 million (draft budget)
Benefits
(advantage/s) The benefits are calculated as $250 million (draft benefit)
Critical success
factors The critical success factors are identified as: (a) potential budget allocation and funding, (b)
meeting capita incomes, and (c) nurturing start-up with funding.
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Section 5: Operationalization
4. Develop an operational plan for the system, with budget, timelines and responsibilities
Phases of
activities
Resources needed
(What are the supporting
measures needed?)
Budget
(How much budget
would be allocated in
% means)
Responsibility
(who will be in charge of
this task)
Timeline (insert bar chart over timescale)
Year 1 Year 2 Year 3
2. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Initiation (idea) Funding personnel and
investors
20% Project manager
Definition (what?) Project sponsor 10% Manager and
authority
Design (how?) Project stakeholders as
investors
25% Project manager
Development (how to
implement?) Funding personnel,
investors, and sponsor
15% Project manager
Implementation
(commencement of
project)
Project stakeholders and
sponsors
15% Project manager
Follow-up (monitor and
review) Project sponsor 15% Project manager
Prepared by
Student’s name <PLEASE FILL> Student’s signature <PLEASE FILL>
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