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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. This module will prepare you for doing innovation in a new business start-up as well as the 'intrapreneurship' context. Employers and start-up teams value the capability suite that helps design and commercialise 'newness' - new products, services and business models.

In this module you will engage with latest advances in Innovation. You will interpret and contextualise the mindset of a disruptive innovator through the use of Jobs-to-be-Done thinking, evaluate how digital and new media innovation 2.0 methods are transforming the innovation process, critically assess how public sector innovation is designed and deployed, analyse the use of creativity and de-construct the research commercialisation process. To help augment your learning, an easy to follow textbook with an accompanying YouTube series is available, which focuses on innovation and entrepreneurship in developing and emerging economies.

The module is delivered over a week and makes use of innovative teaching and learning methods to make your experience immersive, nuanced and also 'playful'. Experience the Innovation 'Escape Room Challenge', a Lego Mindstorms-based Logistics Industry simulation and the use of other group-based exercises to learn about doing innovation in any context.

The aim of the module is to develop a set of skills in participants that help them 'do' innovation in a commercial context. This necessitates learning 'about' concepts, models and frameworks to critically evaluate the nature of creativity, innovation and entrepreneurship. Participants are required to think about non-traditional and new approaches for sourcing and commercialising intellectual property from the perspective of both industrialized and developing or emerging economy contexts. As a result, participants will be able to critically assess the limitations of extant models and methods, and be able to configure the conditions under which such methods and models would yield 'ideal' outcomes.

Objectives

Upon successful completion participants will be able to:

  1. Evaluate the nature of innovation and be able to identify the potential for innovation within an organisation 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 and post-module group projects.

Contents

  • Innovation 2.0 with new and digital media
  • Entrepreneurial effectuation
  • New technologies and public sector innovation
  • Disruptive innovation and 'jobs-to-be-done'
  • Intellectual property management with Stage Gates
  • Practising creativity with new toolkits
  • Innovation commercialization with Lego Mindstorms
  • Innovation "Escape Room" Challenge

Assessment

Component 1 - Group Video Case Development & Analysis | Weight - 60%

Component 2 - Group In-Module Assessment on a Physical Simulation | Weight - 15%

Component 3 - Individual Reflective Diary on Group Assessment | Weight - 15%

Component 4 - Individual Innovation & Entrepreneurship Quiz | Weight - 10%

Duration

1 week (including 30 hours of lectures, 1 hour seminar and 7.5 hours of simulation)