An Innovation Proposal

ASSESSMENT CRITERIA- ASSESSMENT 2 – ENTERPRISE INNOVATION REPORT , 3000 WORDSFollowing the innovation proposal, you submitted as the digital infographic (assignment 1), you are now required to write a report detailing the application of the proposed innovation in SMEs operating in different sectors in the UK and how the solution could be implemented in a similar company in another city in the EU or International country. You should incorporate the challenges associated with implementing the innovative solution and the expected benefits to all stakeholders.Content: MARK ALLOCATIONSection 1. External Audit – what factors make the problem an opportunity?(Consider: different facets of the problem may present different opportunities; assessment of industry sector, market trends, competitors activities, level of government support, other external factors – PESTLE may be a useful tool)This needs to be considered in relation to the other UK sector and the same sector in the EU/International environment) 20%Section 2. Personas (users) – who am I designing the solution for and what do I know about them? (User profile) (Identification and justification for target markets, design consumer / user profiles. Consider that target users within different sectors in the UK and same sector in the EU / International are likely to have different needs, to what extent are the users profile different ?) 15%Section 3. Pain points – what issues does the persona have in relation to the problem? (Examination of pain points for different users, prioritisation / selection of which pain points to address. Again UK , EU / International considerationsnecessary) 15%Section 4. Solution design – what does my solution comprise and why?(Identification and evaluation of the solution, extent to which the solution meets the needs of the users, evaluation of the extent to which the solution can be implemented in other sectors in the UK or degree of modification required with justification. An evaluation of the extent to which the solution can be implemented in the same sector in the EU / International or degree of modification required with justification. The degree of innovation applied. 50%Inclusion of theories on creativity and innovation. Critical assessment of the potential impacts of the solution to the SME. Consider other theoretical tools or models such as the Business Model Canvas.