This individual assignment needs to be a 1400 word essay on your choice of 1 of the following two topics:
a. Please critically evaluate the 4 idea generation lenses in terms of whether they are primarily ‘SEED’ focused or ‘NEED’ focused. Then elaborate on any one idea generation lens using an example of a commercial offering that illustrates its concept in practice. For instance, think of an existing offering that would be an example of ‘challenging the orthodoxy’ of the current industry. Which elements did this offering eliminate, reduce, raise and create? Similarly, you could take an offering and describe why you think it was created using analogical thinking; how did a diverse view point, from a different area, contribute to its creation. You are not expected to know whether these opportunities were in fact created through these lenses; but I am looking for your arguments on why you think that they may have been generated using a certain lens based on the characteristics of the opportunity and the characteristics of that generative process. Essentially, this question tests your understanding of the different idea generation lenses and your ability to apply these frameworks through an example.
b. New ventures and commercial offerings can fail for a variety of reasons, even if the idea that the entrepreneur selects has no fatal flaw. Please take the example of a failed venture/failed new commercial offering and explain how despite being a good idea as per Mullins’ 7 domains, it still failed. I would like to see a clear application of the Mullins’ framework and an argument for why there was no fatal flaw as per the Mullins’ framework. In addition, briefly state your opinion on why you think it might have failed despite having no apparent fatal flaw as per the Mullins’ framework. There are subjective thresholds for what constitutes as new and what constitutes as a failure. In general, I’d recommend a timeline of up to 5 years to qualify as new, i.e. the new product/venture should have failed within 5 years of its launch. In the case of what constitutes as a failure, shutdown of the new venture or discontinuation of the product are obvious examples; you will likely know a failure when you see it and you are free to argue why a certain venture or product should be classified as one. Finally, you can chose a new venture or a new product (commercial offering) launched by an established company.
Please take and state a clear position in your answers to these topics. Additionally, I am looking for depth of thinking and engagement with the topic rather than a ‘right answer’.