MGMT20132 Innovation and Sustainable Business Development Case Study

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MGMT20132 INNOVATION
AND SUSTAINABLE
BUSINESS DEVELOPMENT
A case of Lockheed Martin

Introduction
 Demonstration about the
disputes encountered by
Lockheed Martin.
 Innovative solution for the
problems by implementing
new technology.
 Marketing tactics and design
approaches of innovative
business technology.
 Description of business
canvas model of Ford Motors.

Issues faced by Lockheed
Martin
• Security issues in information
system.
• Issues in maintaining permanent
record of transactions between
two parties.
• Loss of data and information.
• Unethical modification in data.

Innovation for
Solution
• Use of Encryption
• Implementation of
Block chain
technology

Design Strategy
• Peer to peer network
• Value exchange
protocol
• Decentralization and
distribution
• Public-Key
Cryptography

Business case
• Innovation for securing
data and information by
the company.
• The estimated budget for
the implementation is
• 5 steps plan for
implementation

Marketing strategy
• Online marketing
• Social media marketing
• Marketing by company
website

Plan
• Identification of issue
• Planning for innovation
• Establishment of network.
• Encryption of data
• Formulation of Protocols.

Financial data
Activities Expenses (AUD)
Identification and research 1,50,000
Establishment of network 1,00,000
Formulation of protocols 1,00,000
Cost for Cryptographic technology 2,50,000
Cost for overall implementation 2,00,000
Total 8,00,000

Business canvas model

References
• Lockheed Martin, (2019). Home. [Online]. Lockheed Martin. Retrieved from:
https://www.lockheedmartin.com/en-us/index.html on 29 May 2019.
• Pilkington, M. (2016). 11 Blockchain technology: principles and
applications. Research handbook on digital transformations, 225.
• Zheng, Z., Xie, S., Dai, H., Chen, X., & Wang, H. (2017). An overview of
blockchain technology: Architecture, consensus, and future trends. In 2017 IEEE
International Congress on Big Data (BigData Congress) (pp. 557-564). IEEE.
• Yli-Huumo, J., Ko, D., Choi, S., Park, S., & Smolander, K. (2016). Where is
current research on blockchain technology?—a systematic review. PloS
one, 11(10), e0163477.