Learning outcomes 1:

Explain the context for innovation and determine the difference between invention and innovation 

Innovation vs invention: 

• Definition of innovation and commercialisation, taking into consideration the challenges this creates for small businesses. 

• Definition of invention and how invention is created. 

• Turning invention into innovation and sources of innovation. 

Innovation management:

• Creating a structure and culture of innovation; getting the organisation to know the difference between invention and innovation. 

• Developing innovation vision and leadership, entrepreneurial teams and innovation networks. 

LO1 Explain the context for innovation and determine the difference between invention and innovation

P1: Explain innovation and determine its importance to organisations in comparison with invention.

P2: Expand how organisational vision, leadership, culture and teamwork can shape innovative ideas. 

M1: Analyse different sources of innovation, and how organisations can foster and develop an environment and culture of innovation.

LO1 and LO2:  D1: Critically evaluate how innovation is developed, embedded and measured in an organisational context.

Send to Turn-it-in (UK) by Thursday 6th February 2020

Learning outcomes 2:

Explain the different types of innovation (New Product)

Processing different types of innovation: 

• The use of the innovation funnel to manage new solution/idea development. 

• Overview of the different types of innovation with a focus on disruptive and incremental innovation, and exploring pros and cons of each approach. 

• The 4Ps and innovation space strategy. 

• The development of frugal innovation in response to necessity vs market driven innovation. 

Learning outcomes 3:

Discuss the process required to commercialise innovation 

Commercialisation of innovation: 

• Adopting the New Product Development (NPD) and commercialisation funnel to drive new products to market; building the Innovation Business Case, in market testing and iteration routes to market and market launch. 

Planning innovation: 

• The impact of advanced technology and information management on research, testing and developments methods. (Power-point - Lecture 5)

• Consideration of big data and cognitive systems to predict behaviours and future trends, social media and constructing multimedia platforms for promotion and distribution. 

Accessing funding and resources:   (Power-point - Lecture 6)

• The reasons why an organisation would want to access funding (e.g. product development, marketing) and the different types of funding sources available. 

• Consideration of resources a small business may require to commercialise their offering (e.g. office space, etc.) 

LO3: Discuss the process required to commercialise innovation

P5: Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation.

P6: Build an Innovation Business Case for an organisation, including ways to access funding.

M4: Build a detailed Innovation Business Case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve.

LO3 and LO4:  D2: Critically evaluate the nature of innovation and the context in which it is developed, providing evidence based judgements on how organisations can overcome challenges to develop successful innovation.

Send to Turn-it-in (UK) by Thursday 21st March 2020

Learning outcomes 4:

Evaluate the range of methods for protecting ideas and understand  their advantages and disadvantages

Intellectual property: 

• The definition of intellectual property (IP). 

• Exploiting knowledge and intellectual property rights.

• Overview of key IP tools including copyrights, trademarks, design rights and patents. 

• The role of branding in protecting the innovation and the limitations of IP in an international context. 

• The implications of growth of open source and open innovation platforms upon IP.