Developing a Business Case for Innovation
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Developing a Business Case for Innovation
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I use these slides to teach final year fashion students about how to write a business case to support their innovative idea. The slides introduce the key sections of the business case and give some information about what should be included in each.
Transcript of Developing a Business Case for Innovation
Developing a Business Case for Innovation
✓ To justify the risk of investing in innovation✓ To convince management to endorse your idea✓ To ensure you logically think through everything
Why You Need A Business Case
Executive SummaryOne page
snapshot of the whole
business case
Executive SummaryOne page
snapshot of the whole
business case
WRITE THIS
LAST
WHAT is thePROBLEM
to be SOLVED?
Frame it in terms of these guys...
... The Customer
Your Solution
SUPER EASY TOUNDERSTAND
your solution must be
Why It’s Innovative
“New ideas that create value”
Customer Research
CONDUCT A
SURVEY
TRY SELLING YOUR
INNOVATION
Design & Development Plans
Investment Requirements
✓ Design & Development✓ Project Management✓ Marketing
Expected Benefits
FINANCIAL SOCIAL ENVIRONMENTAL
The Ask
✓ Executive Summary✓ The Need✓ Your Solution✓ Why it is Innovative✓ Customer Research✓ Design and Development Plans✓ Investment Requirements✓ Expected Benefits✓ The Ask
Recap of sections
THANKSTH
E E
ND
✓ Girls scratching head: Tintin44 on Flickr✓ Van: Lulumon athletica on Flickr✓ Rubics cube: Nitot on Flickr✓ Customers www.bytec.co.uk/images/photos/sketches.jpg ✓ Sketch picture: NathanaelB on Flickr✓ Currencies: M4D Group on Flickr
Picture Credits
