MOØ234 Innovation Management in Corporate Business

Contents and structure

The course consists of two major but interrelated parts.

1. One part focus on innovation in established firms and will introduce students to different models and concepts to innovation management, innovation strategies, innovation processes and characteristics of innovative organizations. The course introduces students to practical innovation contexts both in the private and public sector and provide them with the necessary knowledge, skills, methods and tools to actively participate and contribute in innovation processes in an organization.
2. The other part of the course introduces students to corporate startup thinking and new business development processes. Key topics will be the development and analysis of innovative business ideas, business models/-plans and strategies. The aim is to provide the students with an understanding of the challenges involved in efforts to commercialize new products or service ideas.

Intrapreneurial and entrepreneurial competence encompasses analyzing and evaluating if a new idea is a "good" idea and if customers will buy it. In addition, the course focus on trade-offs between and phases of "exploration and exploitation", how to overcome difficulties entering markets, achieving profitability and managing risks involved by appropriate countermeasures.

The students work in small groups writing an assignment, an Innovation Thesis, based on real cases/challenges in existing organizations, private businesses or in public sector. Through analyzing real life challenges, the learning process focus both a practical and a theoretical approach.

The course will prepare and encourage students to become more innovative both in future work and/or as an intrapreneur/entrepreneur.

Learning Outcome

Through analyzing and reflecting on innovation/commercialization challenges in existing organizations, students will be able to apply and discuss relevance of theoretical models and approaches when trying to commercialize innovative ideas or new business ventures.

Students will acquire knowledge and ability to compare a Lean Startup Way with Corporate Startup Principles.

Knowledge based learning outcomes

• Students will have acquired knowledge of innovation management theories and strategies for innovation in existing organizations
• Students will have acquired knowledge of the innovation systems and innovation ecosystems
• Students will have acquired knowledge of main content in different kinds of business models/ - plans and innovation strategies
• Students will be able to conduct different kinds of analysis and reflect upon them: innovation audits, exploration vs exploitation trade-offs, customer-need analysis/value proposition design, marked analysis, profitability analysis and risk analysis. In addition, they will be able to discuss immaterial property rights and implementation plans.
• Students will be able to valuate different kinds of funding and financing of corporate startup ventures.
• Students will be able to analyze and distinguish main characteristics in a business idea, business model and written business plan.

Skill based learning outcomes

• Students will have acquired ability to assess options for innovation and relevant strategies and methods for successful innovation in existing organizations
• Students will have acquired ability to apply a business model canvas / business plan and discuss focused parts in different approaches.
• Students will have acquired skills in applying analysis schemata, conduct analysis and evaluate results.
• Students will get team-based experiences when being members of project groups.
• Students will acquire experience in giving oral presentation in a convincing and more creative manner.

General competences

• Being able to assess the need for innovation, sources of innovation and  enablers of innovation in existing organizations
• Being familiar with relevant models for corporate innovation and innovation in public sector
• Being able to evaluate new business ideas aimed at improving existing companies and/or starting a new corporate venture (intra- and entrepreneurship).

Entry requirements

Admission requirements for the master programme.

Teaching methods

After an introductory presentation given by teachers, students continuously write on their group based Innovation Thesis. Teachers and fellow students give oral and/or written feedback on drafts and parts of written hand-ins throughout the course. Other teaching and learning means applied are videos, role-play/plays, cases and open discussions.

Compulsory learning activities

2 first parts of the written assignment.

Assessment

Written semester paper: Innovation Thesis + adjusting oral examination.

Time and place announced in Canvas.

Grading scale is A-F where F is fail.

Course reductions

• MSB108 - Innovation Management and The Corporate Startup - Reduction: 10 studypoints