LOJA10284U Entrepreneurship and Innovation
A growing need for innovative solutions and
start-ups has shifted entrepreneurship and innovation management
from a mere business school agenda to career options and demanded
competencies across academic disciplines. Students are challenged
to engage in venture teams and use their knowledge for bringing
innovative solutions to society. This course is specifically
designed for non-business students who want to find out more about
idea development and start-up processes in new ventures, and also
about how existing organizations can become more entrepreneurial
and manage the non-technical aspects of innovation processes. It
introduces students with little or no background in business
studies to theories and tools for entrepreneurship and innovation
management that can assist them in idea development and
realization. To combine the process with their “own world” students
will build venture teams and develop a venture idea that addresses
a challenge connected to their fields of study. The challenge
themes are: Food, health, clean-tech & natural resources,
developing countries & the bottom of the pyramid, and
communications & media. Ideas are not limited to new products
or new for-profit ventures, but may include any type of innovation
in a new or existing for- or non-profit setting. The specific
challenges will be defined each year based on collaboration with
relevant enterprises and stakeholders, including student incubators
and entrepreneurship support organizations. Students who would like
to use the course to work on their own business idea have the
opportunity to turn their idea into a challenge a student team
could work on. The conditions are that the student contacts the
course organizers well before course start (before 15 June for
block 1 and before 1 March for block 4) to assess feasibility and
turn the idea into a venture challenge case.
At the beginning of the course a group formation process will be initiated. This will be followed by a kick-off session in which the specific challenges will be presented by representatives from the challenge hosts. The course itself will then include theory input and insights from practitioners, but will have a strong focus on project work and feedback sessions. Theory sessions presented in online and guest lectures will include an introduction to A) innovation theories and innovation management tools that can be applied in new ventures or existing organizations (creativity techniques, innovation process models, design thinking, business modelling), B) classic and new entrepreneurship theories (opportunity discovery and creation), and C) a “two toolboxes” approach of “effectual” tools (e.g. means-driven action, affordable loss, stakeholder commitments, leveraging contingencies) and “causal” tools (e.g. business plans) for developing a new venture. In project work sessions students will need to work in their “venture teams” and apply these theories and tools to develop venture ideas through group work, in-class exercises, and interaction with real stakeholder. The project work will be supplemented by regular feedback sessions consisting of presentations, guest lectures, and supervision hours.
An entrepreneurial mindset and the ability to manage and support innovation processes under conditions ofuncertainty and distributed knowledge is essential to new venture creation, but has also become a key competence in existing private and public sector organizations. The purpose of the course is to provide nonbusiness students interested in developing their own ventures or in entrepreneurial and innovation processes with a basic set of theories and roadmaps of possible actions and tools they can use to engage in new ventures or innovation teams. Moreover, the course is in general designed to stimulate entrepreneurial and innovative activities in- and outside university and in different business and nonbusiness future employment situations, including especially work in cross-disciplinary and cross-institutional set-ups. The course aims to create awareness for an entrepreneurial and innovative mindset in the students’ specific area through a focus on the interdisciplinary and team-based application of theories and tools within 5 current socio-economic challenge themes that relate to their fields of study. The final outcome is that students will be able to build on the knowledge and teamwork experiences from the course during their entrepreneurial career, and in further graduate courses on specific topics within innovation, entrepreneurship, and business development.
On completion of the course the student will be able to:
- Show an overview of theories and concepts in entrepreneurship and innovation management, including entrepreneurial and innovation processes, design thinking, business modelling, and venture development
- Identify and describe the characteristics of entrepreneurs
- Classify different types of innovation (e.g. product, process, organizational) and degrees of innovation (radical, incremental)
- List and describe tools and approaches to new venture creation and innovation management
- List and describe creativity tools for innovation management
- Explain entrepreneurial and innovation processes with cases in their fields of study
- Select and critically assess new venture development and innovation management tools for starting-up new business activities or managing innovation processes
- Communicate ideas to stakeholders including investors and other potential partners
- Discuss the role of entrepreneurship and innovation management in a new or existing organization
- Apply the theoretical foundations and the approaches learned about in the course to engage in entrepreneurial activities in a new or existing private firm, a public organization or an NGO
- Develop an understanding of the role of design thinking, planning, control, stakeholders, goals, and resources in new venture creation
- Independently find and approach stakeholders necessary for the further development of ventures and ideas
- Evaluate the feasibility of different tools in the context of different initial set-ups and available means.
Osterwalder, A. and Pigneur Y. (2010) Business Model Generation. Wiley, New Jersey.
- Practical exercises
- Project work
- Theory exercises
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- 7,5 ECTS
- Type of assessment
- Oral examination, 20 minOral examination in a chosen question relating to curriculum and in the project.
- Exam registration requirements
- Satisfactory completion of course tasks and presentation of project results in presentation sessions at the end of the course
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
- If 10 or fewer register for the reexamination the examination form will be oral.