As a ‘capstone’ module this module addresses one of the most important topics that reflects a subject that will increasingly occupy students' time as they progress in their careers and are called upon to respond to the challenges posed by uncertain, complex and dynamic business environments. This module is therefore designed to have an integrative role across the MBA programme, creating systemic bridges to other mission critical models. Equipping managers to make a difference will engage them in a learning experience that will explore and develop the competencies and capabilities managers need to demonstrate.

The objective of this module is to integrate the two fields of innovation and entrepreneurship focusing upon management practice and creating change in a range of sectors. It will approach the analysis of innovation and entrepreneurship by drawing attention to relevant theories and research but placing more emphasis on applying these to practice in a broader context including the private, public and third sector and ways of creating new business models, opportunities, value and change. In particular, the module will examine issues and dilemmas in 'doing' innovation and entrepreneurship. More specifically we aim to:

Review the key theories and recent research relevant to understanding the dynamics and practice of innovation and entrepreneurship;

Discuss the main types, strategies and processes of innovation and entrepreneurship, as well as the main challenges that are encountered in successfully implementing change;

Understand the different definitions and types of innovation and identify the relationships between innovation, entrepreneurship and the performance of organisations in a range of sectors, including the private, public and third sectors;

Examine the approaches that can be employed to analyse organisational strategies, structures, cultures and business models as a basis for enhancing i nnovation and entrepreneurial activity;

Describe the phases of the process of innovation and entrepreneurship including ‘Recognising the Opportunity’; ‘Finding the Resources’; ‘Developing the Venture’; and ‘Creating Value’;

Understand the contributions of innovation and entrepreneurship in emerging and developing economies and for the sustainability of local, regional and national economies in the developed economies.

The module will introduce participants to the state-of-the-art thinking in bringing together innovation and entrepreneurship by drawing on current research findings. In addition, the module will utilise an 'active learning' approach in which the students carry out their own projects, in small groups, to develop and commercialise innovative ideas and concepts from a range organisations. The overall aim of the module is to encourage critical reflection on the complex issues involved in ' ;doing' innovation and entrepreneurship and to increase participants’ awareness of the challenges as well as opportunities available to develop appropriate business models and new value creation and change.

(LO1) Describe and critique theories of innovation and entrepreneurship.

(LO2) Explain theories of innovation and entrepreneurship and their relevance for understanding approaches to strategy and day-to-day operational management and management of change.

(LO3) Analyse and critique relevant business models and the relationship and impact on innovation and entrepreneurship.

(LO4) Evaluate and describe individual and organisational barriers to innovating and entrepreneurship in a variety of contexts.

(LO5) Evaluate critically the key theories of creativity and innovation and their implementation as a means for developing an organisational culture which supports these.

(LO6) Develop a conceptual understanding of resilience and a critical awareness of strategies for coping with disruptive change.

(LO7) Understand and evaluate the customer value proposition of new business opportunities including the impact of the latest information and communication technologies.

(S1) Adaptability

(S2) Problem solving skills

(S3) Numeracy

(S4) Commercial awareness

(S5) Teamwork

(S6) Organisational skills

(S7) Communication skills

(S8) IT skills

(S9) International awareness

(S10) Lifelong learning skills

(S11) Ethical awareness

(S12) Leadership

Online Discussions x 20 hours
The learning and teaching strategy is founded upon the principles established through the MBA programme. This module will include 28 hours of directed learning delivered online using both synchronous and asynchronous methods. The teaching will use a number of digital collaboration methods such as: online classrooms; online discussion boards; podcasts; blogs; video-blogs; video-presentations; and online simulations of decision environments and cases.

Group work x 8 hours
The pedagogical approach is designed to encourage the active engagement of students in the learning process. This is done explicitly with group-work exercises such as ‘brainstorming’ and ‘business modelling’. In these sessions, students are introduced to a topic (brainstorming) and then are given various exercises in which they work together in small groups to develop their brainstorming skills. Similarly, they are introduced to the concept of a ‘business model’, which is followed by group work where the students analyse the activities of a case study organisation using the business model framework. The groups are then required to make brief presentations describing what they learned from the exercises. In total, approximately 8 hours of the 28 teaching hours are spent on group work.

Self-directed learning x 72 hours
Self-directed learning hours will be used by students to ensure that requisite reading is undertaken, preparation for online classes and presentations, and for completion of assessed and non-assessed work that will aid and enhance the students’ own learning experience.

WEEK 1

SESSION 1a: Introduction: The innovation imperative

What ‘innovation’ and ‘entrepreneurship’ mean and how they are essential for the survival and growth of all organisations.

Reading: Chapter 1, in Bessant and Tidd (2015)

SESSION 1b Individual and Organisational Characteristics

Successful innovation depends on both individual attitudes to entrepreneurship and organisational attributes such as the appropriate structure and culture.

Reading: Chapters 2 & 4 in Bessant and Tidd (2015)

SESSION 2a: Business model innovation I

Defining business models and business model innovation. Understand the components of a business model and describing different types of innovation.

Reading: Chapter 1 and 2 in Afuah (2014)

SESSION 2b: Business Models and Innovation II

Understanding the nature of business model innovation is increasingly important in terms of remaining competitive – we focus on several interesting aspects including ‘long tail’ theory, ‘less-is-more’ innovations, social media and disruptive technologies.

Reading: Chapters 3, 4, 5, 6 and 7 in Afuah (2014)

WEEK 2

SESSION 3a: Sources of innovation: a brainstorming exercise

Creative ideas are the core of all innovative products and services – in this session we think about the best ways to stimulate individual and group creativity.

Reading: Chapter 5 in Bessant and Tidd (2015)

SESSION 3b: Searching for opportunities

Any effective organisation must develop an innovation strategy which encourages a balance between incremental and radical new ideas.

Reading: Chapter 6 in Bessant and Tidd (2015)

SESSION 4a: Building the business case

Successful innovation demands the creation of a business plan which helps convince senior managers to invest the appropriate resources (time, people, facilities etc.)

Reading: Chapter 7 in Bessant and Tidd (2015)

SESSION 4b: Exploiting networks

The shift from the closed innovation paradigm to open innovation has meant the rise in importance of innovation networks as sources of innovation.

Reading: Chapter 8 in Bessant and Tidd (2015)

WEEK 3

SESSION 5a: Spinning out and creating new ventures

Particularly in the case of radical innovations (a completely new business model) – it may necessary to spin out a new company to exploit that innovation.

Reading: Chapter 10 in Bessant and Tidd (2015)

SESSION 5b: Exploiting knowledge and intellectual property

Knowledge is the basis of all major innovations – thinking about the best ways to protect and exploit that knowledge is an organisational imperative.

Reading: Chapter 11 in Bessant and Tidd (2015)

SESSION 6a/b: Creating value, growing ventures and learning to manage innovation

Ensuring that organisations are able to realise economic value from their knowledge-based innovations is one of the central problems of innovation management.

Reading: Chapter 12 and 13 in Bessant and Tidd (2015)

WEEK 4

SESSION 7: Innovation and Entrepreneurship – Revision

In this session, we intend to review and consolidate the key issues discussed so far in the module.

Reading: Chapters 1, 4, 5, 6, 9 and 13 in Bessant and Tidd (2015)

SESSION 8: Business Models – Revision

We concentrate on the links between the nature of organisational capabilities and the implementation of business model innovations.

Reading: Chapters 8, 9, 10 and 11 in Afuah (2014)