INNOVATION AND ENTREPRENEURSHIP

SHE Level 5
SCQF Credit Points 15.00
ECTS Credit Points 7.50
Module Code MMN225374
Module Leader Zhi Wang
School School of Computing, Engineering and Built Environment
Subject GCU London
Trimesters
  • A (September start)
  • B (January start)
  • C (May start)

Summary of Content

Entrepreneurship involves the application of patterns of behaviour to enhance abilities, knowledge and decision making for developing business. The practical application of entrepreneurship is synonymous to creating business ventures and developing them in new and innovative ways. Entrepreneurs initiate new projects by identifying opportunities in the business environment. Academic contributions have helped to simplify the processes involved in entrepreneurship through the development of theories, models and flow charts. These shall be used to underpin the academic rigour of the module and will work in tandem through activities designed for the practical application of the process of entrepreneurship. Mindful of the resource constraints that typify new enterprises, the module will evaluate, through the use of case study material, the mechanisms by which small scale enterprises, faced with limited business experience and resource capability can secure differentiation, competitive advantage and commercial success. The importance of clarity in terms of the business proposition will be examined, as will the value of competent market, competitor and consumer intelligence. The module builds an appreciation of the need for an entrepreneurial mindset across different contexts including commercial enterprises, family-owned businesses, social enterprises and public social partnerships operating at national and international levels. Special attention will be paid to practical planning for developing new businesses. The practical application of responsible management and an ethical dimension to entrepreneurial and innovative activities play a key role in the discussion and debates that are a key feature of the module. A key learning outcome in the module is the application of entrepreneurial practices as a basis for innovative business development. Thus, the module enhances understanding of the business development process and the choice and application of appropriate business models that underpin it.

Syllabus

-360 - Introduction to entrepreneurship - Divergent thinking and innovation - Responsible entrepreneurship and innovation: processes, capabilities, models - New business development: developing new and novel products and services - New business development: local and global markets - Financial aspect of entrepreneurship - Legal aspects of entrepreneurship - Developing effective business plans - Entrepreneurship in practice: challenges and contingency planning - Leveraging advantage: partners, fields and technologies

Learning Outcomes

On successful completion of the module the student should be able to:-1. Critically apply theoretical frameworks, concepts and processes that underpin entrepreneurship, new venture creation and innovation. CW1 & CW22. Critically assess the characteristics and processes of entrepreneurship and innovation in different organizational contexts. CW 1 & CW23. Synthesise and evaluate the impact of entrepreneurial and innovative activities for responsible enterprise. CW2

Teaching / Learning Strategy

Learning and teaching will be carried out mainly in lecturers, seminars and workshops, complemented by guided independent research and reading. Key elements of the learning process will be the analysis and discussion of chosen business concept, problem based learning and active learning. Consistent with Masters level study, the module will feature significant independent and directed learning fully supported by web-based activities. Guest speakers may provide an insight into the processes of developing and implementing business plans. Student-centred learning will be encouraged through directed research and the requirement to present findings in seminars. Case studies, journal articles and conference papers will be used as a basis for discussion and debate. Use may be made of GCU Learn to provide additional module material and a discussion forum. Reflective practice will be introduced during workshop sessions to enhance the experiential element of the Teaching/Learning strategy for the programme. In particular, students will be encouraged to identify and utilize the most effective digital communication technologies in order to form, share and communicate their ideas and proposed actions. Lectures cover core course materials and will provide the framework for the syllabus. Students will be given direction on salient issues that form the basis for relevant reading. A problem-solving and ideas generation format will be adopted for workshops which will be built around action research and integrative case studies. The concept development process will encourage professional reflection on experience and in the later stages pose opportunities for creative thinking, innovation and entrepreneurial decision making. Supporting materials and skills will include critical analysis of published papers, debates around current news issues, company developments and document analysis. Student-centred applied learning is facilitated through experiential learning, directed research, and presentation and discussion of findings in seminars. Group work and the formation of learning sets will be encouraged and supported by relevant material and independent and directed work.

Indicative Reading

Core text BESSANT, J. & TIDD, J., 2015. Innovation and entrepreneurship . 3 rd ed. Chichester: John Wiley & Sons. Relevant Texts MORRIS, M.H., COVIN, J.G. & KURATKO, D.F., 2011. Corporate innovation and entrepreneurship . 3 rd ed. Mason: South-Western. BURNS, P., 2016. Entrepreneurship and small business: start-up, growth and maturity . 4 th ed. Basingstoke: Palgrave. CRESSY, R., CUMMING, D. & MALLIN, C., ed., 2012. Entrepreneurship, governance and ethics . Springer Netherlands. CHESBROUGH, H., 2003. Open innovation: the new imperative for creating and profiting from technology . Cambridge: Harvard Business School Press. DEAKINS, D. & FREEL, M. S., 2012. Entrepreneurship and small firms , 6 th ed. London Boston: McGraw-Hill Higher Education DRUCKER, P., 2007. Innovation and Entrepreneurship: Classic Collection. 2 nd ed., Butterworth-Heinemann, Oxford, UK. ELLIS, T., 2010. The New Pioneers: Sustainable Business Success Through Social Innovation and Social Entrepreneurship , Chichester: John Wiley & Sons GERSICK, K., DAVIS, J. A., HAMPTON, M. M. & LANSBERG, I., 1997. Generation to Generation: Life Cycles of the Family Business . Boston: Harvard Business School Press. GUNDRY, L. K. & KICKUL, J. R., 2007. Entrepreneurship strategy: changing patterns in new venture creation, growth, and reinvention , SAGE Publications, Thousand Oaks, CA CARTER, S. & JONES-EVANS, D., 2012. Enterprise and Small Business: Principles, Practice and Policy . 3 rd ed., Pearson, Harlow. MILLER, F.P., VANDOME, A.F. AND MCBREWSTER, J., 2010. Corporate Social Responsibility: Social Entrepreneurship, Organizatonal Culture, Corporate Social Responsibility, Organizatonal Studies, Business Ethics, Entrepreneurship , Alphascript Publishing, Beau Bassin, Mauritus. SPINELLI, S. & ADAMS, R., 2015. New Venture Creation: Entrepreneurship for the 21st Century , McGraw-Hill I rwin, London. TIDD, J. and BESSANT, J., 2015. Strategic Innovation Management, Chichester, John Wiley & Sons. WAGNER, M., 2012 . Entrepreneurship, Innovation and Sustainability , Greenleaf Publishing, Austin, TX. Journals: Digital Creativity? Economics of Innovation and New Technology Entrepreneurship Theory and Practice. Entrepreneurship and Regional Development European Journal of Innovation Management Family Business Review Harvard Business Review? International Entrepreneurship and Management Journal International Journal of Entrepreneurial Behaviour and Research. International Small Business Journal. Journal of Brand Management International Journal of Retail and Distribution Management International Journal of Retail, Distribution and Consumer Research Journal of Business Venturing Journal of Marketing Management Services Industry Journal? Strategic Management Journal Websites: www.prme.org <http://www.prme.org> www.businessballs.com <http://www.businessballs.com> www.babson.edu/entrep/fer/ <http://www.babson.edu/entrep/fer/> www.scottish-enterprise.com <http://www.scottish-enterprise.com> www.bis.gov.uk <http://www.bis.gov.uk> www.startups.co.uk <http://www.startups.co.uk> www.companieshouse.org.uk <http://www.companieshouse.org.uk> www.familybusinesscentre.com <http://www.familybusinesscentre.com>

Transferrable Skills

Analytical skill Interpersonal communication Problem-solving skills Presentation skills Self-management Creative thinking Critical thinking Intercultural competence Teamwork Entrepreneurship and intrapreneurship

Module Structure

Activity Total Hours
Tutorials (FT) 2.00
Assessment (FT) 40.00
Lectures (FT) 24.00
Seminars (FT) 12.00
Independent Learning (FT) 72.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 02 n/a 70.00 45% Business Model Report
Course Work 01 n/a 30.00 45% Innovation Presentation