Overview

The focus of this module is to delve into the innovation process within organisations and explore how we can encourage and manage innovation to create successful new products and services. Throughout this course, you will gain insights into efficiently gathering knowledge, rapidly processing information, and intelligently analysing data. These skills will empower you to identify venture opportunities and plan new business models effectively. You will explore the exciting world of innovation and develop the tools you need to drive success in the creation of new and groundbreaking products and services.

Topics may include but will not be limited to:-

• Introduction: Entrepreneurship and the economy
• Defining the entrepreneur
• Innovation and creativity
• Start-up structure and strategy
• Business planning and development
• Building a successful team
• Failure factors
• Triple Bottom Line
• Financial forecasting
• Growing a business: new media

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Assess the key issues encountered in establishing a new business (market research, sourcing funding, legal issues)

• Critically assess the challenges of running a new/small business (HR policy, operations/supply policy, decision analysis, sales management)

• Evaluate the economic role of entrepreneurs in a liberal-market economy

• Review the psychological drivers of entrepreneurial behaviour