| CODE | MGT2358 | ||||||||
| TITLE | Innovation Strategies for Entrepreneurial Businesses | ||||||||
| UM LEVEL | 02 - Years 2, 3 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 5 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Business and Enterprise Management | ||||||||
| DESCRIPTION | The study-unit provides a broad overview of the core concepts underlying innovation in a business setting, exploring how innovative offerings create radically successful businesses. The study-unit focuses on innovation's fundamentals and best practices as a prerequisite for gaining a competitive advantage and building a strong and sustainable enterprise. Additionally, the study-unit provides students with a framework for understanding the process of creating and managing innovative organisations, allowing them to successfully deal with dynamic demands from markets and customers who are becoming more sophisticated and product-savvy. The study-unit includes theoretical content and practical exercises based on real-world examples to promote experience-based learning. The study-unit covers the following topics: innovation fundamental principles, innovation management strategies, innovative business model and value proposition development, entrepreneurial traits fostering innovation, entrepreneurial core processes to develop innovative products and services effectively, and entrepreneurial strategies and best practices to drive innovation. Study-Unit Aims: The study-unit provides a comprehensive framework to assist students in understanding the fundamentals and strategies of innovation and entrepreneurship required to lead organisations to sustainable growth and long-term impact. It also aims to increase the students' knowledge and skills in developing innovations, recognising, evaluating, and planning effective methods to exploit these opportunities, and acquiring the resources necessary to implement these plans. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Evaluate the market potential for an innovative venture, taking into account customer demand, competitors, and industry attractiveness; - Describe the processes necessary to foster, manage, and commercialise innovation; - Assess and create effective strategies to generate innovative business models based on customer-centric offerings, in close dialogue with the environment, market, and customers; - Devise communications activities to convey the benefits of innovative products and services to appeal to the target audience. 2. Skills: By the end of the study-unit the student will be able to: - Recognise and evaluate the mechanisms enabling and hindering innovation; - Demonstrate an ability to engage in entrepreneurial and innovation processes; - Deliver innovation strategies in businesses of all kinds; - Design and critically assess an innovative business model; -Comprehend the practice involved in generating innovative offerings. Main Text/s and any supplementary readings: Main Texts: - Drucker, P., (2014.) Innovation and entrepreneurship. Routledge. - Bessant, J. and Tidd, J., (2015). Innovation and entrepreneurship. John Wiley & Sons. - Baron, R. A., & Shane, S. A. (2008). Entrepreneurship: A process perspective. Thomson. South Western. Supplementary Readings: - Baron, R.A., 2006. Opportunity recognition as pattern recognition: How entrepreneurs “connect the dots” to identify new business opportunities. Academy of management perspectives, 20(1), pp.104-119. - Blank, S., 2013. Why the lean start-up changes everything. Harvard business review, 91(5), pp.63-72. - Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design: How to create products and services customers want. John Wiley & Sons. - Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to create radically successful businesses. Currency. - Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons. Further readings in electronic format will be provided throughout the course of the study-unit |
||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
|
||||||||
| LECTURER/S | Antonietta Rosiello |
||||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
|||||||||