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

Contents and structure

Innovation is a key to success both for Startups and established corporates. In innovation collaboration between the two parties: established corporates need to understand startups as well as startups need to understand corporates. As Arthur D. Little has focused: All now face new challenges to be able to benefit from the transition from "The Age of Innovation" to "The Age of Collaboration" by learning an innovation ecosystem approach.

The course consists of two major but interrelated parts.

• One part focus on innovation in established corporates and will introduce students to different models and concepts to innovation: innovation strategies, innovation management, 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 to improve innovation processes in a variety of corporations.
• The other part of the course introduces students to corporate startup thinking, as in business model canvas’, and new business development processes. Key topics will be the development and analysis of innovative business ideas and sustainable innovative business models, all linked to strategies and planning. The aim is to provide the students with an understanding of the challenges involved in efforts to commercialize new product- 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 and uncertainties involved by increased consciousness and applying appropriate countermeasures. Students will learn about a variety of corporate-startup collaborations.

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 on both a theoretical and a practical 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, both private and public sector. Students will be able to apply and discuss relevance of theoretical models and approaches when trying to commercialize innovative ideas or embark on new business ventures.

Students will acquire knowledge and skills to analyze how "Corporate Innovation" can benefit from a "Business Model Canvas" approach and how to co-create value for sustainable innovation benefitting both parties and future generations.

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 main content in different kinds of business models. 
• Students will acquire knowledge of how to create-test-learn-scale-grow business ideas from exploration vs exploitation phases to innovation ecosystems.
• Students will be able to distinguish different kinds of collaborations between established organizations and startups. 
• Students will acquire knowledge of sustainability as the new paradigm for innovation and competitive advantage.

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 for continues improving and renewing business models. 
• Students will have acquired skills in applying tools and worksheets to analysis and evaluate improvements in different innovation portfolios. 
• Students will get team-based experiences when being members of project groups.

 

General competences 

• Being able to evaluate the importance of the startup-way in assessing the need for, sources of and enablers for sustainable innovation.
• Being able to evaluate new business ideas and understand how existing organizations can improve innovations by understanding and appreciating the importance of an ecosystem-innovation approach.  

Entry requirements

Admission requirements for the master programme (MIL).

Teaching methods

After an introductory presentation given by teachers and guest-lecturers, 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, student’s presentations, case examples and open discussions.

Compulsory learning activities

A written assignment.

Assessment

Written group-based semester assignment + Adjusting oral examination.

Time and place announced in Canvas.

Grading scale is A-F, where F is failed.

Course reductions

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