Question: This assignment comprises of two tasks. Task 1 is designed to enhance learners' ability to understand the sources of innovation, barriers to innovation and how

This assignment comprises of two tasks. Task 1 is designed to enhance learners' ability to understand the sources of innovation, barriers to innovation and how to improve innovation culture among employees in a firm. Task 2 is designed to develop learners' ability to prepare business plan for a new business venture.

REQUIREMENT

TASK 1

Select an entrepreneurial firm and describe the sources of innovation obtained by the chosen firm. Identify and discuss barriers to innovation faced by the management of this firm. Recommend improvements that can be taken by the firm in inculcating innovative culture among the employees.

[Total: 30 marks]

TASK 2

Assume your chosen firm in Task 1 is developing an innovative product and plan to pursue the new business venture in a specific market. For this purpose, the firm wishes to apply for a business loan from one of the financial institutions. As a business consultant, advise the firm on how to prepare good business plan and explain how this new business venture might be done profitably.

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