MGMT20132 Assessment 1: Robotic Product Innovation for Ozcare

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Central Queensland University, Australia
Term – 3, 2018
MGMT20132 Assessment 1
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Lecturer:
Assessment: INDIVIDUAL REPORT
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Executive summary
With the expanding pattern of modernisation, innovation is similarly progressing. The
profitability of the organizations is totally relied upon the utilization of trend by setting new
innovation. By developing new innovative products, organizations can empower their
development in the market. An assortment of procedures and mechanical patterns are
assuming control over the market. The determination of pattern relies on the nature and the
size of the organization. Here in this report, the innovative approaches and products in the
form of Robotic products are proposed by the Ozcare which is one of the largest home care
industries in Australia, now Ozcare develops effective business planning for developing
product demands with different approaches.
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Table of Contents
Executive summary....................................................................................................................2
Introduction................................................................................................................................4
Problem to be solved..................................................................................................................4
Problem insight..........................................................................................................................4
Portfolio of generated solution concepts....................................................................................5
Solution selection analysis.........................................................................................................5
Value Proposition.......................................................................................................................5
Business canvas model...........................................................................................................7
Critical assumption and uncertainties........................................................................................7
Customer desirability.............................................................................................................7
Technical feasibility...............................................................................................................8
Financial viability...................................................................................................................8
Innovative tools and techniques.................................................................................................8
Recommendations for the organization...................................................................................10
Critical reflection.....................................................................................................................10
Conclusion................................................................................................................................11
References................................................................................................................................12
Appendix..................................................................................................................................14
Business canvas Model........................................................................................................14
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Introduction
The business and its sustainable growth are depend on the implementation of innovative
strategies. Here, the report focuses on the problems which are faced by the people while
doing activities at home. The business report is focusing on the home care assistance which
helps in managing activities of people at home such as home cleaning, help to elder citizens
and manager essential work of humans and saves their time. The robotic technology is
proposed by Ozcare through which proper satisfaction can be provided to the customer in the
market. For the implementation of innovative products in the form of robotic technology, the
company has to analyze various factors such as business practices, develop market strategies
and other problem-solving approaches.
Problem to be solved
In the modern era, most elder people are facing challenges and in this era, elder care is very
rare and it is necessary to develop innovative products which can provide better care to them.
Along with this, young people are facing failures in managing their tasks such as home
cleaning and some securities issues has developed critical challenges for the individual and
society as a whole. There is a need to develop innovative approaches which will provide
welfare towards society and provide satisfaction level of customers in the market.
Problem insight
With increasing competition in the market, companies are developing innovative products
and it is essential to advance customer experience which enhance the demands of products.
Ozcare has to the launch new innovative products which advances the security of home and
manage activities of young people such as home cleaning and can provide elder care in the
society (Goorer, Salah & Akın, 2017). Ozcare wants to innovate robotic techniques products
which are specially designed for home care. There are different robotic products which
provide different services to the society.
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Portfolio of generated solution concepts
In order to solve the challenges of society, the following approaches should be used :
 Artificial intelligence devices
 Robots
 Wi-Fi connected products
 Augmented virtual reality devices
Solution selection analysis
By considering issues and challenges which are faced by the customers at the time of
managing home activities and security issues. Now, Ozcare has to analyse the requirements
which can resolve securities issues and can manage home cleaning and care activities.
Further, the company has to analyse different aspects which can help it in the fight with
competitors in the product (Krishnaswamy, Kuber & Oates, 2016). Alongside this, the
company has to focus on the approaches with the help of different tools and techniques such
as business model canvas. The company has to consider such aspects which can help in
extending its product growth.
Value Proposition
By proposing innovative products in the market the higher authorities of Ozcare will create
new ideas and can deal with homecare related issues. This system will help them in pulling in
a solid base of the clients and will in like manner help with improving the sustainability and
profitability of the firm. There are some essential aspects which are essential for considering
at the time of value proposition of the business and its innovative products are:
1. Raison date:
Mission: The mission of Ozcare is to develop its market growth and to enhance its
product demands and sustainability development.
Passion: The passion of Ozcare is to increase the opportunity of innovation through
the development of new products. Such activities will help it in enhancing the
customer experience.
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Values: Manager of Ozcare should always try to provide quality products in the
market which will develop a value proposition and will engage more customer
towards products (Joyce & Paquin, 2016).
Initial assets: The initial asset of the organisation is to develop wireless WIFI
connectivity robotic products which will develop sustainable growth of products in
the market.
Initial Ideas: The initial idea of the Company is to propose high tech artificial
intelligence robots which can manage all activities of home care and can provide
proper security and elder care in the society.
2. Initial market:
Beachhead: The beachheads of the Ozcare are the elder people and young generation
who required home care assistant and want to enhance the security level of the home.
End-user profile: Generation who want high tech robots for managing their tasks and
elder people who require proper care in a timely and effective manner.
TAM (Total Available Market): The elder fit into the age group of 55 to 70 and to
the people who require home care appliances
Persona: The persona of Ozcare is to propose innovative products and creative ideas
that can increase the sustainability of its new products and can enhance market
segment of the company.
3. Value creation:
Use case: The higher authorities of Ozcare have decided to introduce smart robotic
products for managing home care activities such as cleaning and security.
Product Description: The item holds an extraordinary utility as it helps the bustling
personals in dealing with their time for playing out certain physical exercises that can
help in keeping up great wellbeing (Joyce & Paquin, 2016).
4. Competitive advantage:
Moats: The creative idea of the company is to promote robotic artificial intelligent
products in the form of home.
Core: The core strength is providing home care assistant with magnetic and technical
robots which can enhance its core value proposition.
Competitive positioning: Recently the firm is gaining a competitive advantage by
providing high tech robots in the form of home care assistant at affordable prices.
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Business canvas model
The business canvas model of Ozcare for launching robots with artificial intelligence
techniques in the form of a home care assistant in the market is as follows:
 Key partners: Stakeholders, Higher authorities of technological departments,
Customers, Government.
 Key activities: Providing home care managing robots which will manage activities,
enhance the security level of society and provide proper health care to elder people.
 Value proposition: Providing high tech AI robots at affordable prices with high-
quality services will enhance business value and develop customer experience in
terms of its new innovative products.
 Customer relationship: The clients of the organization are furnished with the items
at less expensive costs. This promotes company products by developing the interest in
a number of clients. Alongside this, the purchase of the robotic product can be made
through the distributive channel. Proper training and guide will be provided to
manage and control robotic machines.
 Customer segment: Age group of 55 to 70 are mainly targeted and for the people
who required to manage their home activities.
 Key resources: Artificial Intelligence, Technical team, financial resources, human
management resources.
 Channel: Distributive channels, Direct and indirect channels, Agents
 Cost structure: In managing the aspects of robotic technological products, Product
developers will set effective cost structure and will manage to develop products as per
different requirements of customers.
 Revenue structure: Profits from distributive channels, Profits by increasing demands
of the products (Baldassarre, et.al., 2017).
Critical assumption and uncertainties
Customer desirability
It is significant for directors to comprehend the demands and requirement of the clients. This
can help them in fulfilling the clients’ requirements and improving their client base in the
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market by developing customer satisfaction. The main motive of Ozcare should be to provide
quality products which will enhance customer demands.
Technical feasibility
The organization should try to utilize the creative innovation for the assembling of their
technological robots which will enhance customer satisfaction. This enhances them in
reducing the cost of their robotic products and upgrading the extent of manageability.
Financial viability
It is very important for Ozcare to enhance the productivity of the firm for which organization
has to maintain financial resources which will enhance the sustainability of business capital
for a long period of time.
Innovative tools and techniques
 Business process reengineering
There is a need to develop an effective business process through which effective
actions and the proper decision can be done in the organization. Managers of Ozcare
has to a business strategic approach which can be done with the help of analyzing the
market situation and by proposing new innovative home care assistant in different
styles as per the different requirement of the customers (Joyce & Paquin, 2016).
 Total quality management
With full of the technological world, a company has to develop quality products with
the use of AI which will enhance home care management, home security with a
timely and effective manner. The company should consider all the essential factors
which are required for developing customer satisfaction by developing and providing
home care gadgets (Toro-Jarrín, et.al., 2016 ).
 Zero-based budgeting
With the utilization of this model, Ozcare can make the most ideal allocation of the
resources and higher authorities will find and can develop different strategies for
managing cos- effective management for improving the physical exercise of elder
people (Zaefarian, Henneberg & Naude 2013). The budget and cost of robotic
products should be based on the affordable prices of customers.
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 Digital transformation
It suggests computerized development joining into different business districts by
commonly changing the techniques for working and passing on a motivating force to
the customers. Innovative changes are also required as per the requirement of
customers which can be done by the administrators of Ozcare for always showing
signs of chaninge the test, the standar,d and approaches according to the innovative
high tech robotic products (Joyce & Paquin, 2016).
 Agile management
It is a continuous and iterative strategy for passing on the necessities of the endeavor
life cycle of Ozcare. The endeavors of facilitated Ozcare will demonstrate
collaboration, trust, fortifying, and versatility. This will engage the association to
increase the satisfaction level of customers, profit can be made hypothesis method
which is based on sales management, and risks will be diminished by proposing risk
management approaches (Payne, Frow & Eggert, 2017).
 Bench marketing
This apparatus will help with assessing the association's methodology, organizations
or things execution. The inward upgrades openings will be done inan effective
manner. The relationship with the competitive firms can be made through this
contraption about the system of business and execution estimations (Fabio & Moisees,
2014).
 Organizational time management
This will allow the managers of Ozcare for the most ideal masterminding and dealing
process for managing different tasks of the association. Reconstructed knowledge
base thinking can be utilize and will require effective training management by
providing proper training and development prograes to employees so that they can
perform their task timely. Along with this, managers hves to develop engagement of
employees atthe workplace (Fabio & Moisees, 2014).
 Core Competencies
It develops effective ideas on the basis on hypothesis approaches andthe company
should develop its core competencies which can hels in optimzsing business essential
activities in relation to Ozcare. Proper management in the company can be develoedp
with the help of strategic development (Collier, Linkov & Lambert, 2014).
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Recommendations for the organization
From the above findings it can be analysed that the product with AI technology in the form of
the robotic system by Ozcare will enhance security level at home and will provide proper
elder care to people. Further, Ozcare has made all its efforts for achieving its goals in an
effective manner. The company has tried to present innovative products in the market that
will provide proper elder care and will enhance security level with high tech sensors
connectivity. Further development of productivity can be increase by the approaches and
tools which are designed by the company in the whole report. As per the above finding, it is
highly recommended to managers of Ozcare that they should examine all the market
conditions and requirements of the customer at the time of the product in the market.
Critical reflection
The report is completely based on the launching of robotic products for managing home
activities and for providing better healthcare to elder people. Through the findings ofthe
above study, I am able to analyse the importance of innovation in the technically upgraded
environment. With the help of this innovation in the market products, I have analzsed that
technological advancement has provide effective direction to this modern era and it is
likewise essential for the administrations to implement creative ideas with Artificial
Intelligence.
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Conclusion
From the above finding,s it can be concluded that business and its sustainable growth depend
on the implementation of innovative strategies. The robotic technology which is proposed by
Ozcare can provide proper satisfaction and can develop its sustainability in the market fora
long period of time and will enhance market growth ofthe company.
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References
 Goorer, B., Salah, A., & Akın, H. (2017). An autonomous robotic exercise tutor for
elderly people. Autonomous Robots, 41(3), 657-678.DOIi:10.1007/s10514-016-9598-
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 Krishnaswamy, K., Kuber, R., & Oates, T. (2016). Developing a limb repositioning
robotic interface for persons with severe physical disabilities. Universal Access in the
Information Societ : International Journal, 15(4), 609-627.DOIi:10.1007/s10209-015-
0439
 Joyce, A., & Paquin, R. (2016). The tripl- layered business model canvas: A tool to
design more sustainable business models. Journal of Cleaner Production, 135, 1474-
1486.DOIi:10.1016/j.jclepro.2016.06.067
 Toro-Jarrín, M., Ponce-Jaramillo, I., & Güemes-Castorena, D. (2016). Methodology
for tof building process integration of business model canvas and technological
roadmap. Technological Forecasting & Social Change, 110,
213-22DOIdoi:10.1016/j.techfore.2016.01.009
 Fabio, L., & Moisés, A. (2014). Innovation and business model: A case study abthe
out integration of innovation funnel and business model canvas. Revista Brasileira De
Gestão De Negócios, 16(53), 616DOI7. doi:10.7819/rbgn.v16i53.1812
 Collier, Z., Linkov, I., & Lambert, J. (2014). Tools and strategies for climate change
decision making. Environment Systems and Decisions, 34(4), 471DOI2.
doi:10.1007/s10669-014-9527-0
 Zaefarian, G., Henneberg, S., & Naude P. (2013). Assessing the strategic fit between
business strategies and business relationships in knowledge-intensive business
services. Industrial Marketing Management, 42(2), 260DOI2.
doi:10.1016/j.indmarman.2012.08.008
 Baldassarre, B., Calabretta, G., Bocken, N., & Jaskiewicz, T. (2017). Bridging
sustainable business model innovation and user-driven innovation: A process for
sustainable value proposition design. Journal of Cleaner Production, 147, 175DOI6.
doi:10.1016/j.jclepro.2017.01.081
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