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ENTREPRENEURSHIP AND INNOVATION

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MODULE 8 - MANAGING INNOVATION, ENTREPRENEURSHIP AND ENTERPRISE

 

Aim

The module aims to adopt an integrative view of the management of innovation and links with entrepreneurship.

 

General Objectives

The module emphasises management and leadership of innovation practice in a broad context that :

  • Focus on the challenges inherent in attempting to take advantage of both incremental or routine innovation and more radical or revolutionary changes in products and processes,
  • Stress the importance of continuous improvement and innovation in firms,
  • Explores the organisational, economic and strategic problems that must be tackled to ensure long-term competitive advantage, and
  • Discuss the importance of shifting; exit strategies.

 

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Content

Successful innovation in new products and processes is increasingly being regarded as a central issue in economic development. Research has demonstrated that innovating firms grow faster, have higher productivity and are more profitable than non-innovators. Innovation is however a risky process which requires a specific set of management skills and knowledge.

 

This is a three-hour module. It comprises two sessions, including one 2-hour lecture session on Monday and one 1-hour lecture/tutorial session on Tuesday. Case studies and class discussions are incorporated into the lectures. Course materials include lecture notes and supplementary handouts (e.g. articles from journals).

 

Learning Objectives

At the end of this module, students will be able to:

  • Identify and analyse the sources of innovative success,
  • Suggest how companies can develop and sustain a capability to innovate, and
  • Formulate strategies for growth and sustainability.

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Assignment

Students will be assigned to work in teams for undertaking a literature search of relevant articles and other published materials on ‘Managing innovation, entrepreneurship and enterprise’.

 

This is a self-learning exercise that requires teamwork and cooperation. Although there is no submission requirement for the assignment, guidance and feedback on students’ work will be provided.

 

 

Assessment

Some short scenarios and action-learning exercises will be given for analysis and discussion to test the students learning. The assessment would focus on students' understanding on the concepts of innovation and entrepreneurship.

 

 

Evaluation

Students’ responses during and after the class will be the source for improving teaching. Formative assessments will be used to elicit students’ feedback. Students will be observed advised, guided, and even mediated if necessary.

 

It is expected that once students are engaged and excited about the material, they would begin to proactively ask questions, think critically, and search for connections and relevance on their own. Problems being encountered will be discussed and students will be guided through the process as a means to improve the design and the delivery of the module.

 

 

Teaching/Learning Strategies

Using PowerPoint slides for lectures, providing handouts, and using action-learning techniques are effective learning tools with proven impacts.  Classroom discussion will be used as a leader for intellectually stimulating questions and/or arguments. Hints will be provided, building on what students know to lead them to the answer by simulating them to think logically.

 

An experiment or action-based learning opportunity to practice innovation will be included.

 

Sections of the lecture will be summarized and discussed before progressing to subsequent sections.

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Resources:

 

Library Sources at UWI:

  1. Gupta, J.N.D. and Sharma, S.K. (2004), Creating Knowledge Based Organisations, Idea Group, Hershey, PA (Location: Main Library | General | HD53.C72 2004) ISBN-1591401623
  2. Katz, R. (2004)(ed), The Human Side of Managing Technological Innovation: a Collection of Readings, Oxford University Press, New York (Location: Main Library | General  | HD45.H84 2004)  
  3. Montano, B. (2005) (ed), Innovations of Knowledge Management, IRM Press, Hershey, PA (Location: Main Library | General | HD30.2.I536 2005)  
  4. Murmann, J.P. (2003), Knowledge and Competitive Advantage: the Coevolution of Firms, Technology, and National Institutions, Cambridge University Press, Cambridge/ New York (Location: Main Library | General  | HD9660.D843 G35 2003)  
  5. Omeally-Nelson, B. (1995), Hazards of Enterpreneurship: a Guide to Business Success, Kingston Publishers, Kingston, Jamaica (Location: Main Library | General  | HD62.5 .O54 1995) ISBN 9766250782 
  6. Sundbo, J. (1998), The Theory of Innovation: Enterpreneurs, Technology and Strategy, E. Elgar, Cheltenham, UK/Northampton, MA, USA, (Location: Main Library | General | HD45.S888 1998) ISBN-1858988322 
  7. Tushman, M.L. and Anderson, P. (2004)(ed), Managing Strategic Innovation and Change: a Collection of Readings, Oxford University Press, New York (Location: Main Library | General  | HD31 M2942 2004)   
  8. Verloop, J. (2004), Insight in Innovation: Managing Innovation by Understanding the Laws of Innovation, Elsevier, Amsterdam/Boston (Location: Main Library | General | T173.8.V478 2004)   

 

Recommended References:

  1. Chopra, A.J. (1999), Managing the People Side of Innovation, Kumarian Press (ISBN-13: 978-1565490987)
  2. Clayton M. Christensen, C.M. and Raynor, M.E. (2003), The Innovator's Solution: Creating and Sustaining Successful Growth, Harvard Business School Press, Boston, Mass (ISBN: 1578518520 978 1578518524)
  3. Prencipe, A., Davies, A. and Hobday, M. (2004)(Ed), The Business of Systems Integration, Oxford University Press, (ISBN-13: 978-0199263226)
  4. Gifford Pinchot, G. and Pellman, R. (2000), Intrapreneurship in Action: A Handbook for Business Innovation, Berrett-Koehler Publishers (ISBN-13: 978-1576750612)
  5. Holsapple, C.W. (2003)(Ed.), Handbook on Knowledge Management, Springer, (ISBN: 978-3-540-43848-9)
  6. Kao, J. (2007), Innovation Nation, Free Press, (ISBN-13: 978-1416532682)
  7. Moore, G.A. (2006), Dealing with Darwin: How Great Companies Innovate at Every Phase of Their Evolution, Capstone, (ISBN-13: 978-1841127170)

 

Journals:

  1. European Journal of Innovation Management (Quarterly) ISSN: 1460-1060 – Emerald
  2. Innovation: The European Journal of Social Science Research (Quarterly) ISSN: 1351-1610 – Routledge
  3. International Journal of Entrepreneurship and Innovation Management (Quarterly) ISSN: 1368-275X  - Inderscience
  4. International Journal of Innovation and Sustainable Development (Quarterly) ISSN: 1740-8822 – Inderscience
  5. International Journal of Technology Management (Quarterly)
  6. ISSN: 0267-5730 – Inderscience
  7. Journal of Product Innovation Management (Bimonthly)
  8. ISSN: 0737-6782 - Blackwell Publishing
  9. Technovation (Monthly) ISSN: 0166-4972 - Elsevier Science

 

Relevant Web Presentations:

Equipment:

Multimedia Equipment

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