GMBA6003

Innovation Management and Entrepreneurship

10 Units

In the business context, innovation management can be defined as the processes involved in the development of an idea into a new or improved product, service, process, or business model. Entrepreneuship refers to the processes involved in taking the risk to establish or build a business venture in order to make a profit. To support these two separate but related sets of processes, innovators and entrepreneurs must be able to balance exploration of new ideas with their effective exploitation; carefully evaluate costs and risks as well as potential rewards; design appropriate systems and procedures to support the successful launch of innovations; and communicate the potential value of innovations to a range of critical stakeholders inside and outside the business venture. In this course, students will learn about the steps in the development of a new enterprise, from initial conception of an idea through to its commercialization, and master a range of tools to support this development.

Faculty Faculty of Business and Law
School Newcastle Business School
Availability

Not currently offered

Learning Outcomes

On successful completion of this course, students will be able to:

  1. Critically discuss and analyse the concepts of entrepreneurship and innovation management
  2. Engage in entrepreneurial and innovation processes
  3. Identify the characteristics of successful entrepreneurs, and learn the tools and techniques that support their success
  4. Analyse and critically evaluate process, product and business model innovation
  5. Develop a concise and effective innovation strategy
Content

The topics in this course include:

  • Definitions and evolution of entrepreneurship and innovation
  • Role of innovation and entrepreneurship in developing a sustainable and successful enterprise
  • Understanding entrepreneurial and innovative individuals
  • The role of innovation in new and established enterprises
  • The role of innovation and entrepreneurship in enterprise growth
  • The role of new product development in innovation and entrepreneurship
  • The role of innovation champions and developing a culture for innovation
  • The importance of open innovation, clusters and national innovation systems
  • Measuring innovation and entrepreneurial performance
  • Key aspects of building innovative leadership and management
Requisites
  • To enrol in this course you must be active in the Master of Business Administration (Global) program (40160).
Assessment Items
  • Written Assignment: Business Model Analysis of a New Business Venture
  • Proposal / Plan: Develop an Innovation Plan for an Existing Business
  • Formal Examination: Final Examination

Contact Hours Not currently offered
Timetable 2018 Course Timetables for GMBA6003
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