INNOVATION & CREATIVITY
What is innovation?
A new or improved idea, product, process, or method that adds value.
(Any definition reflecting improvement or originality is acceptable.)
Entrepreneur Mindset
“Willingness to take risks and be creative.”
(Any entrepreneurial trait — resilience, initiative, problem solving — is acceptable.)
Competitive Advantage
“Anything that lets a business outperform competitors, such as lower prices or better quality.”
(Any answer focused on outperforming rivals is fine.)
Exporting - give a definition and an example
“Selling products from one country to customers in another.”
Risk Example- any
“Financial risk—sales decline.”
(Operational, strategic, compliance, or reputation risks are also acceptable.)
Product Innovation Example
“Shoes with built-in GPS for running safety.”
(Any new feature that improves usefulness, convenience, or uniqueness is acceptable.)
Intrapreneur Example
“An employee designs a new service package that improves customer satisfaction.”
(Any example of staff generating new ideas within a business is acceptable.)
Differentiation
“Offering exceptional customer service or unique packaging.”
(Any non-price differentiator works.)
Mode of Entry - name one and give an example
Teacher discretion
Risk Strategy - any
“Insurance—protects against unpredictable events like fire.”
(Any correct risk-management strategy is valid: contingency planning, diversification.)
Process Innovation Scenario
“Introduce an online ordering system so customers can order before arriving.”
(Any suggestion that improves speed, efficiency, or reduces costs is fine.)
Opportunity Spotting
“Students need healthier, quick lunch options—market gap for smart vending machines.”
(Any identified unmet need in school or community.)
Technology Strategy
“A clothing store could use virtual fitting rooms or AI style recommendations.”
(Any tech use — apps, QR codes, AR, digital marketing — is acceptable.)
Innovation for Global Markets - give your example
“Create spicy flavours of Australian snacks for Asian markets.”
(Any culturally adapted product or marketing idea is acceptable.)
Financing for Innovation
“Crowdfunding to raise funds for a new product.”
(Bank loans, angel investors, retained profit, partnerships—all acceptable.)
Transformational Idea
“A VR home-design app that lets you walk through your renovation before construction.”
(Any digital-tech idea — AI, VR, apps, automation — is acceptable.)
Solve a Problem!
“A homework-planner app that uses AI reminders to help students manage time.”
(Any idea that solves a teen problem such as stress, transport, organisation, safety.)
CSR & Advantage
“Environmentally friendly packaging builds customer trust and loyalty.”
(Any link between CSR → reputation → competitiveness is valid.)
Entry Mode Scenario (Café → Singapore)
“Franchising—low risk, scalable, and uses local partners who understand the market.”
(Exporting coffee beans or a joint venture are acceptable if justified.)
Diversification Challenge - give one example
“A café could add catering services to reach new markets.”
(Any logical expansion—new product lines, new markets, new customer groups.)
Innovation for Impact
“A reusable container system that tracks usage and rewards customers for reducing waste.”
(Any idea combining innovation + social OR environmental benefit is valid.)
The Pitch
“A Queensland app that matches teenagers with micro-jobs in their suburb—like lawn mowing, tutoring, or pet care—with safety screening included.”
(Any idea with growth potential is acceptable.)
Blue Ocean Strategy
“Noise-cancelling study pods rentable by students in shopping centres.”
(Any idea targeting uncontested market space counts.)
Global Innovation Challenge - give an example or scenario
“A multilingual travel-assistant app using AI to suggest cultural etiquette, emergency info, and safe travel routes.”
(Any combination of tech + innovation + cultural awareness is fine.)
Shark Tank Challenge - present a business idea, how you are going to get funding and what are some potential risks involved and what strategies do you have to address them.
Idea: “A subscription kit delivering zero-waste household products monthly.”
Finance: “Use crowdfunding + small bank loan.”
Risk management: “Purchase insurance, diversify product line, adjust pricing.”
(Any well-justified combination of idea + finance + risk strategies is acceptable.)