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Innovation

This is a course module on MSc Innovation and Entrepreneurship. It is also an elective module for most WMG Masters courses.

Introduction

Innovation has a transformative and at times a disruptive quality; influencing business models, strategy, managerial processes and technological capabilities at the firm-level. At the market-industry level, innovation can create new opportunities in niches previously unexplored or even undiscovered. Innovation is the driver of economic growth and change at all social levels (organisational, cultural, and even political), and an area where substantial new thinking, research and debate is underway.

Organisations are finding that in order to succeed in increasingly competitive markets they need to have systematic and holistic programmes of innovation that boost productivity, introduce new revenue streams and open access to lucrative markets. Although, useful insights abound within literature, the body of knowledge on the subject does not offer prescriptive (or intrumentalist) solutions. Within the industry, this has led to the slow adoption of appropriate methodologies for managing innovation.

Objectives

This module aims to help participants improve their understanding on the subject of innovation and develop new skills and knowledge that will enable them to contribute to the long-term competitiveness of businesses.

Its specific learning outcomes are:

  1. Evaluate the nature of innovation and be able to identify the potential for innovation within an organization and/or network.
  2. Systematically analyse the impact of innovation on the performance of industries.
  3. Critically assess the key tools and techniques for managing innovation for application to actual business situations.
  4. Practically demonstrate innovation management skills in a physical simulation group project.

Contents

  • Innovation: An Introduction & Meta-Theoretical Assumptions

  • Innovation Management with the Stage Gates Approach

  • Innovation 2.0 with New and Digital Media

  • Understanding Creativity & User Requirements

  • Delivering Innovation in Large Organizations

  • New Approaches in Innovation Management

  • Intellectual Property Protection & Security

  • Disruptive Innovation and Jobs-to-be-Done with the Nintendo Wii Case Study

  • Entrepreneurial Effectuation

  • Innovation in the Public Sector

  • Undertaking the Lego Mindstorms EV3-based Innovation Challenge

Duration

5 Days