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Innovation & Risk Management

Assignment Task ��
Discuss the benefits and challenges experienced as a result of completing the Innovation & Risk
Management module assignment report. � � �
Marking Criteria ��
Reflect upon the coursework task set at the beginning of the module involving an innovative company.
(Marks: 20) ��
Describe the research process undertaken during the completion of your coursework assignment
report. �(Marks: 40) ��
Highlight the personal benefits and challenges you have experienced during the implementation of
your research strategy and the writing of your coursework on this module. � � � � � � � � �
(Marks: 40)


Innovation & Risk Management 2




Innovation & Risk Management Module Assignment Report

Completing the Innovation & Risk Management module was both a fulfilling and
challenging experience. Besides obtaining valuable information on innovation and risk
management, it was a great opportunity to learn and understand what makes up an innovative
company. This paper is a reflection of my experience in completing the Innovation & Risk
Management module, the research process involved and the benefits and challenges faced on
a personal level during the process.

Reflection on innovative Company

The coursework task involving an innovative company was an opportunity to learn
more about the characteristics of an innovative company. Through this assignment, it was
possible to identify that innovation is a major prerequisite for competitiveness and that
companies must continually invest in innovation in order to create a niche for themselves. In
order to be considered innovative, a company must be unique in terms of strategy, products
and services. This varies from invention, which involves the introduction of new products
(Tidd & Bessant, 2013). The task was imperative in identifying how a company can achieve

Innovation & Risk Management 3
growth through innovation by motivating employees to be innovative, understanding the
industry standards, investing in feasible innovation and enhancing risk tolerance (Tidd &
Bessant, 2013). The different models of innovation including linear, market pull, technology
push and flexible innovation models created better understanding of the different approaches
taken by companies and how each works differently to achieve business growth (Morris,
Pinto & Söderlund, 2012).

The research process

The research process involved identification of the most appropriate company to
focus on for the assignment. I finally settled for Burberry, an innovative luxury fashion
house. This was then followed by identification of the target respondents for data collection
which included managers, designers and other corporates; and later designing of the
questionnaire to be used for interviews. Coming up with a sizeable number of respondents
was a challenging process due to the high number of respondents who declined to participate
in the interview due to busy schedules and personal issues.

The interview process involved visiting the selected respondents in their corporate
offices in London, where I conducted interviews based on the topic of study. During the data
collection period, I experienced various challenges including difficulty in creating
appointments. Professionals are busy individuals and setting a date for my appointments
proved challenging to a significant extent. I therefore ended up making numerous visits to the
company’s offices, which was financially and physically draining. I however managed to
obtain all the information I required within the anticipated time.

Innovation & Risk Management 4

Personal benefits and challenges

One of the major benefits obtained from completing the assignment was enhanced
knowledge on the subject through additional readings and references. Innovation and risk
management is an extensively researched area and it was thrilling to learn new concepts and
different views and study results. Secondly, completing the assignment helped me to further
understand concepts learned in class. During implementation of the research strategy, I
experienced personal benefits such as networking as I met various executives with whom I
scheduled appointments with for the sake of the study. The second benefit was that this
research strategy was a good learning point for future research. This means that the next time
I undertake a research will be much easier. I was faced also with the challenge of finding a
conducive environment to work in. While I did most of the assignment at the library,
destructions were common in other locations, such as when I attempted to work from home.

Challenges encountered include difficulty in obtaining some of the academic
resources required to complete the assignment and difficulty in understanding some of the
content. While it was easy to identify journal articles with particular information for example,
accessing the content required subscription, such that I could not make use of such resources.
Travelling through London for these appointments was also fairly expensive, given that I
sometimes missed the person I was going to see. I missed a few appointments that were
canceled at last minute due to emergency engagements by the interviewees and instances
where some completely forgot or overlooked the appointment.

In conclusion, I consider the Innovation & Risk Management course a good learning
experience and I look forward to utilize the knowledge and skills learned in future endeavors.

Innovation & Risk Management 5

Reference List

Morris, PW., & Pinto, JK., & Söderlund, J 2012V, The Oxford Handbook of Project

Management Oxford Handbooks in Business and Management, OUP Oxford,

Tidd, J. and Bessant, J 2013, Managing Innovation. (5 th Edition)  New York:  John

Wiley & Sons.

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