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I ndividual: Innovation Executive Summary

Due 4/25 at beginning of class at 10:45 AM

Overview:

This is an individual assignment so each team member will turn in their own unique assignment.  You certainly may use the team documents that you created as a team for the foundation of your assignment.  

Contents:

Introduction -  A few sentences to set the tone for the rest of the executive summary. Usually, this is a concise statement of the unique solution you have developed to a big problem. It should be direct and specific, not abstract and conceptual.

Problem -  You need to make it clear that there is an important problem (current or emerging) that you are going to solve, or opportunity you are going to exploit. In this context you are establishing your Value Proposition — there is enormous pain and opportunity out there, and you are going to increase revenues, reduce costs, increase speed, expand reach, eliminate inefficiency, increase effectiveness, whatever.

Solution (your product!) -  What specifically are you offering to whom? Product, software, hardware, service, a combination? Use commonly used terms to state concretely what you have, or what you do, that solves the problem you have identified above.

Target Consumer - Who specifically is your target consumer?   Provide the basic market segmentation including demographic and psycho graphic information.  Ideally provide a name for your target consumer group.

The Competition -  No matter what you might think, you have competition. At a minimum, you compete with the current way of doing business. Most likely, there is a near competitor, or a direct competitor that is about to emerge. So, understand what your real competitive advantage is, and state it clearly. Here is where you can articulate your unique benefits and advantages.

The Revenue Model -  How specifically are you going to generate revenues, and through what distribution/sales channels?

End - No conclusion is necessary

Suggested Strategy:

The executive summary is meant to convey the most compelling or important aspects of your analysis in a 2 page document.  You will have to prioritize which points you want to make in each section while including the support and explanation necessary to make those points have maximum impact.  I would suggest that you make a rough outline for your summary including the key points for each required section and what you will use to support those points.  Look for the most specific evidence you can so that you can be efficient with your space.

Formatting Requirements:

2 Page Maximum for content - no content over 2 pages will be included in your grade.  You should need a works cited page since you included evidence for your arguments.  1 inch margins, 12 font of any style you choose, no visuals required, line spacing of 1.5

Grading:

Each section will be worth 15 points and will be evaluated on your ability to communicate your arguments clearly with evidence and clarity.  The final 10 points will awarded based on your paper's content length, formatting to the requirements, spelling and grammar execution.