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Identify and implement business innovation BSBMGT619


Funky Description

SKU: BSBMGT619 Category:


This unit describes the skills and knowledge required to analyse the market context and current business processes to identify and implement opportunities for innovation and reform in an organisation.

It applies to those managing a knowledge management or systems development team, or working in a senior role in such a team. Those with line management responsibility would undertake this role.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

1.1 Investigate information on business markets, customers and methods of doing business

1.2 Analyse and compare the current market for the business and the customer base with typical business markets and customers

1.3 Analyse and contrast current business relationships, business processes and methods of doing business with other innovative businesses

2.1 Investigate business strategies to identify opportunities for innovation and reform

2.2 Assess opportunities for their compatibility with business goals and objectives, and conduct a cost-benefit analysis for each

2.3 Evaluate the degree of likely change and the ramifications for the business and its culture for each opportunity

2.4 Conduct a risk management analysis and formulate a plan for dealing with contingencies according to organisational requirements

2.5 Rank opportunities in terms of their viability and applicability to the organisation

2.6 Include opportunities for innovation in the organisation’s business strategy and prioritise them for implementation

3.1 Redesign aspects of the business in an innovative manner according to the organisation’s business strategy

3.2 Integrate innovation into the business and monitor to gauge usefulness and maximise implementation

3.3 Review business innovation in consultation with users and make recommendations for improvement or further innovation