Based on the set of indicators for the European Innovation Scoreboard; I want you to do the following

Create-by your own-a new set of indicators of South Korea Scoreboard (NOT mentioned in the European Innovation Scoreboard) that cause South Korea to have an excellent innovation plan in the world?

1.1: Saudi Arabia is recently focusing on reducing their dependency on crude oil and the government is making policies in order to implement diversification for revenue generation. This will help the kingdom of Saudi Arabia to reduce the level of risk associated with budgeting. Recently, Saudi Arabia has realized budget deficit due to which they are focusing on exploring non oil revenue generation sources instead of focusing on oil only. Most of the gross domestic product of Saudi Arabia is based upon revenue generation from crude oil so it is important to reduce dependency on crude oil in order to have strong and balance economy.

How can Saudi Arabia get benefit from both European and South Korea indicators to create its own indicators?

1.2: Importance of Education: Recently, Government of Saudi Arabia has enhanced their focus on providing young people of Saudi Arabia with proper education. With educated population, Kingdom will be able to positively influence innovation level prevailing in the country and will be able to improve the condition of research and development as well. By keeping the importance of education and mind students are provided with research related funds in order to encourage them to publish research articles in different research generals. This will help to improve research publications which will eventually improve the level of innovation prevailing in Saudi Arabia.

Based on both indicators of South Korea Scoreboard that you will figure in point 1 and based on European Innovation Scoreboard, suggest some indicators of Saudi Arabia Scoreboard?

 1.3: Saudi Vision 2030: Saudi vision 2030 is another significant pathway formulated by the government in order to achieve long-term objectives for the economy by reducing the dependency on crude oil and exploring other different revenue generation sources. I believe that this version will significantly help to increase the innovation level prevailing in the country. This vision is significantly focused towards producing unemployment rate prevailing in the country. With increase in level of employment economic operations will be positively influenced and people will be encouraged to invest in activities related to research and development which will eventually increase the innovation level prevailing in the country.

For each indicator that you write and suggest for Saudi Arabia in point 3; write the reason for choosing it?

1.4: Idea Support and Development: By supporting the ideas of the entrepreneurs, Saudi Arabia will be able to enhance the overall innovation level prevailing in the country as well as level of entrepreneurship. It is important to understand that there prevails positive relationship between entrepreneurship and innovation. With increase in entrepreneurship country will experience increase in innovation level. Institutions like small and medium Development Authority are focused towards providing support to business entrepreneurs especially at small and medium level.

Q. 2: Implement "BMW" ON EACH of the five Epicenters of business model innovation? In each example: Draw the Business Model and Tell me why did you link it to the specific epicenter? (4 Marks).

            As far as the resource based strategy of BMW is concerned, integrated supply chain, young employees and extensive level of production and assembly units are considered to be the threshold capabilities of the resources with BMW. BMW can utilize their engineering excellence and quality oriented and value added work force in order to attain competitive advantage in market.

Customer Driven Strategy:

            The following customer segmentation strategy for BMW is associated with customer driven strategy. According to this strategy, BMW has formulated its customer segmentation in four categories. This customer segmentation is deferentially designed for different models of BMW.

            Under offer driven strategy, company formulates different value proposition for different business units to target customers accordingly. The main value proposition of BMW is "the ultimate driving machine". This value proposition is used by BMW for its general customers. The company also has another value proposition "No cost maintenance". This value proposition was used by the company in North American region because most of the customers in this region are concerned for cost of maintenance for their vehicles.

Finance Driven Strategy:

                Finance driven strategy is mostly focus towards enhancement in level of innovation supported by new revenue stream, and reduced cost of production. Recently, BMW have significantly increased their revenue as shown in the above trend of revenue. The top level management of BMW has decided recently to enhance their focus on activities related to research and innovation. Recently in 2017, BMW launched its innovation lab 2018 and its primary focus is to enhance the level of research and innovation in newly launched products and services of BMW.

        Multiple epicenters driven strategy of BMW is focused towards utilizing more than one resource. It is Focus towards utilizing resources and strengths in aggregate manner. BMW has resource of strong revenue stream; it also contains strength of having differentiated product for its customers. These two factors in combined manner formulate the multiple epicenters driven strategy of BMW.

Q. 3 You have been appointed as the CEO of Saudi Electricity Company(SEC):(3 Marks).

        Saudi Electricity Company has taken the first initiative in Saudi Arabia in order to introduce the first innovation energy incubator in Kingdom. One of the most significant reasons for implementing this idea in Kingdom was to provide the energy uses with cost effective energy and to support green energy in order to reduce the negative influence of energy production on Environment. It is important to make sure that governments and modern days should make efforts to support green energy and green projects in order to reduce negative influence on topics like global warming. This initiative was also encouraged for implementation because the energy produced by innovation energy incubator is clean and affordable for entrepreneurs and startup businesses.

Source: (theglobaleconomy, 2019)

        Electricity consumption is increasing in Saudi Arabia with the passage of time as per the above statistics related to electricity consumption in Saudi Arabia. This increase in consumption of Electricity was another significant factor for introducing innovation energy incubator by Saudi Electricity Company to meet the increasing demand of electricity consumption in Kingdom.

Business Model 1:

            Under the above business model, bio fuel will be made by using organic waste. It is considered to be one of the most innovative energy incubator techniques. Under this model, organic waste material will be collected from different Poultry Farms and related locations in Kingdom by subsidiaries appointed by Saudi Electricity Company. These subsidiaries will be paid by Saudi Electricity Company on contract basis for providing organic waste material. In subsidiaries will further pay some amount to poultry forms for collecting the organic material. It will encourage the poultry farms to provide for the material as they will be receiving payment for this. This organic waste can be used by Saudi Electricity Company to generate bio fuel which will be cost effective as well as friendly for environment. This cost effective electricity generation techniques can provide low priced energy for entrepreneurs and startup businesses specifically. This will help to encourage entrepreneurship in Kingdom and will create employment opportunities as entrepreneurs will be encouraged to enhance their business.

Business Model 2:

            There are different non government organizations working at international level related to renewable energy business incubator services. Saudi Electricity Company can formulate partnership with such non-governmental organizations in order to make clean environmental friendly energy. This energy will be cost effective and will help the entrepreneurs and new startup businesses to flourish significantly in future. It will provide financial return to non government organizations with which Saudi electricity company will formulate partnership and will help the economy of Saudi Arabia to developed as entrepreneurship and startup businesses will be encouraged with usage of cost effective energy.

Q. 4:    You were the instructor of the(Innovation) MGT643 course at Imam University; You taught Mohammed Almansour(VERY LAZY STUDENT) but unfortunately he has not looked at the R & D Program Report that you sent it to all the students by an email while he was  a student. He met you one day at "Al-Ula" and asked you the following concern and question: (3 Marks).

            Usage of sketches or posters depends upon the objective of the user. It is important to understand that innovation should be closely associated with the objectives and aims of the organization. In my case, I believe that sketches are more innovative as compared to posters. It is mostly because of the fact that sketches have more capability to explain to audience in effective and efficient manner as compared to posters. Audience can easily identify the subject matter by reviewing different kinds of sketches. Different organizations around the globe are extensively using sketches technique in order to communicate with their stakeholders and for internal as well as external communication. Organizations like PayPal and Google are using sketch technique as compared to Photoshop during their internal management communication and their external communication with stakeholders.

            It might be possible that poster can also be innovative mostly for organizations and businesses related to art and culture. Other organizations are more focused words using sketch Technology as compared to poster Technology as it is more innovative.

            PayPal has recently replaced Photoshop with sketch in order to illustrate their presentations in more effective and efficient manner. It is mostly because of the fact that sketches are more capable of illustrating and demonstrating Design by using different kinds of pixels as compared to posters. Different software’s are available in market which can be utilized by organizations in order to formulate sketches. In modern day, graphical representation of data is considered to be one of the most significant aspects of any kind of presentation and proposal. It is important to have attractive graphical representation of data to effectively and easily interpret the graph in front of stakeholders and related parties. Sketch provide better platform in this regard as compared to posters.

Q. 5: You have been appointed by "Zara" which is a  brand name in the Dressing and Fashion industry for consultation after some problems in decreasing the number of their branches around the world; you gave their upper and middle management level chapter 6 in the book "Good to Great" to read, Why did you choose this chapter for them?. And What do you think the benefits from this chapter to solve the company problem?(3 Marks).  

            I suggested this chapter mostly because of the fact that this chapter is focused towards formulation of Vision and Mission in order to transform the company into a successful business. The chapter clearly suggests that it is important for any business to select appropriate and talented employees before initiating any kind of new direction or before implementing any kind of new strategy. Talented employees will be able to effectively implement the new formulated strategy and the new strategy will be a successful one for the organization. As per as this question is concerned, the organization is closing sum of its branches around the globe which clearly suggest that it is facing financial issues and employees will be terminated in future. In order to solve the problems of the business, it is important to have effective and efficient management which could help the business to overcome the future problems. This chapter provides solution relevant two such cases that are why I suggested this chapter for the organization.

            Another significant reason is that the chapter provided practical example of Wells Fargo. Chief executive officer of Wells Fargo foresaw in 1970's that the banking industry is going to have issues in near future. Due to this fact, he appointed talented employees who could handle the problems and issues in near future. Keeping this pack and mind, chief executive officer of Wells Fargo recruited talented employees and they were able to handle the future changes and problems accordingly. Due to this fact, performance of Wells Fargo was much better as compared to other competitive banks in banking industry during this problematic phase. That is why, it is important for the organization to prepare in advance for any kind of problem so that the problems in the future could be tackled effectively and efficiently.

Q. 6: In February 2019, "Starbucks " announced that it will have a new product in its production line. It will produce Burgers Sandwiches. They invented a new position in the top management to be responsible about this new product and they hire you in this new position. Draw Empathy Map about this new product?(3 Marks). 

            The above diagram is used for empathy map. According to this map, it is important to respond to above questions which are associated with the launch of new product. The target market of the new product will be customers from age of 15 years to 60 years. Most of the target market will be white collar jobs related employees as they do not have enough time to make breakfast. So, these employees mostly purchase sandwiches from different restaurants while going to their offices. With launch of sandwiches by Starbucks, Starbucks will be able to enhance their market share especially related to breakfast market and later on it can be expanded by associating it with lunch and dinner deals.

            Customers and stakeholders regarding the taste of the sandwich and their feedback will help Starbucks to improve their new product. It is important to make sure that newly launched product is according to the requirements of the potential customers in order to make the product a successful one.