INFS1602 Group Assignment A (1)

INFS1602 Group Assignment A (1) - Australian School of...

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INFS1602 – Information Systems in Business Semester 1 2013 T HIS IS A GROUP ASSIGNMENT E ACH GROUP CONSISTS OF EITHER 2 OR 3 STUDENTS FROM WITHIN THE SAME WORKSHOP T HIS ASSIGNMENT COUNTS FOR 15 PER CENT OF THE AVAILABLE MARKS FOR THE COURSE Australian School of Business Information System, Technology & Management
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INFS1602 Semester 1 2013 Group Assignment A Page 2 of 5 2 1. Scenario Ruth has worked in a large pharmaceutical firm since graduating from university 5 years ago. Although she enjoys her job, it doesn’t offer her the possibility to use all the skills she learned at university. Two years ago, she started entering innovation contests to use a broader range of skills. After a number of unsuccessful attempts she won $10,000 for solving a Chemistry challenge on Innocentive (www.innocentive.com). Over the past two years, she has entered twelve contests and won two. Her most recent win was an ideation challenge to promote Chemistry careers to teenagers that Ruth and her friend Luke, a marketing consultant, worked on. While Ruth was very pleased with the $20,000 that they received for winning, it was the opportunity to work with someone else on a challenge that she found most satisfying. Ruth and Luke were keen to enter some new challenges together, but couldn’t find a challenge that suited their combined skills. After searching a number of sites, they found that the dominant format for innovation contests focuses on challenges that individuals acting alone can solve; thus putting solvers in competition with each other and resulting in one, or a small number, of ‘winners’. Ruth and Luke began wondering whether this presented a business opportunity for them. After several meetings to discuss their emerging business idea, Ruth and Luke decided to invest some time and money in exploring the possibility of starting up an online business that leveraged what they had begun calling ‘the wisdom of crowds’ to solve problems for businesses. While the value proposition offered by existing innovation contests sites is largely based on finding one individual with the best solution (i.e. ‘wisdom in crowds’), Ruth and Luke wanted to focus on a value proposition closer to the open source software (OSS) model where large groups of people collaborate using the Internet to collectively solve a challenge. However, unlike the OSS model, Ruth and Chris wanted to be able to reward participants (solvers) and charge businesses (seekers). As Ruth and Luke explained to the loans manager at their local bank, a restaurant might use their service to ‘crowdsource’ their menu or a hotel could crowdsource a new interior design, as these challenges might be better ‘solved’ by having the input of a variety of different people. Nevertheless, both Ruth and Luke know that they need some focus (e.g. a particular type of seeker and/or solver) to make the business work in the short-term. They also need to
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