Management

Reflective Project Report on Entrepreneurship and Innovation Module

Reflective Project Report on Entrepreneurship and Innovation Module

Executive Summary

This document provides an excellent road map for our company. We have outlined our goals and strategies as well as methodologies we need to put in place to reach them, while adequately assessing the speed bumps we may encounter along the way. The environment is changing in a rapidly evolving environment, it must evolve, innovate, to be in a position of competitiveness. Innovation and change in the management of projects are by nature in the heart of the company's innovation and result in their implementation of a break business processes and modification of user practices. The human factor thus represents the main cause of failure of such projects.

Table of Contents

Executive Summary2

Innovation Pitch4

Mission Statement4

Products and Services4

Social Game4

Online Monopoly4

Market5

Market Justification6

Target Market, Purchase Patterns and Data9

Monetization11

Objectives13

Business Aims and Objectives13

Financial Objectives13

Marketing Objectives14

Company Summary16

Start-up Plan16

Company Ownership16

Risk Assessment17

Company Risk Assessment17

Social Game Development Risk Assessment17

Entrepreneurial Process for Online Monopoly Limited17

Entrepreneurial Decision Making Process at Online Monopoly Limited19

Keys to Success of Entrepreneurial Innovation at Online Monopoly Limited21

Innovation lies at the heart of Online Monopoly Limited22

Change management22

Theory of Change23

Conclusion23

References24

Innovation Pitch

Mission Statement

Online Monopoly was founded to create unique experiences in the world of new media. From social networks to mobile devices to consoles, we're committed to making fun and engaging games for a mass market audience. The game industry is constantly evolving. Technology, design methodologies and development techniques shift yearly. We strive to be a company that can rapidly adapt to the ever-changing market situations and niches on which we can capitalize.

Products and Services

As a company we will have two focuses: developing social games that are playable through social websites, such as Facebook and cultivating our portfolio in order to acquire fees for service work.

Social games will be produced for demographics that are not as heavily targeted by the big social game studios. Developing in niche genres which are less saturated will give our titles more exposure without the need for a large marketing budget. This is elaborated upon in our marketing section.

Initially, Online Monopoly will be focused on portfolio building by replicating the success of board game - Monopoly during the first year and then will consider introducing new games. With these games on the market, the option of pursuing fee for service work would be open to us (Yunus 2007, pp. 34-56).

Social Game

Online Monopoly

The aim is to develop a monopoly (the famous Board Game) that can be played online and accessed through social networking websites. The game will be launched as an application on Facebook. This game will be offered through the professional game publisher - Electronic Arts (EA). The game will feature a multiplayer option and further socializing opportunity to their customers as all social networking games do.

Market

Our initial focus is the social game market and Facebook will be our first distribution channel. Of the 515 million Facebook users, our early games will target users in the age groups of 18-25 and 26-34 which consist of 29% ...