Objective:
- Understand the role of innovation and the processes for generating innovative business ideas.
- Identify and understand models used to map innovation
- Understand the how businesses manage innovation and the key roles of individuals involved in innovation.
Overview:
- What Is Innovation?
- The successful exploitation of new ideas to realize opportunities
- Schumpeter’s (1934) Five Types of Innovation
- New products or services
- New methods of production
- Developing new markets
- Identifying new sources of supply
Activity:
1. The session starts with slides which instruct the learner on the learning outcomes of the session and the core knowledge required a
- Slides 2 - Learning Objectives
- Slides 3 - What Is Innovation?
2. Class/group Discussion on the importance of innovation
- Slide 4 - Discussion Questions
3. 4ps of Innovation SpaceSlide 6-7
4. Introduction to case study: Clearview
- Slide 8-10
5. Play the case study video
- Slide 11 - https://www.youtube.com/watch?v=-v5VxGb6x94
6. Class/group Discussion on the Video
- Slide 12
7. References
- Slide 13
Session Material:
- Slides
- https://www.youtube.com/watch?v=-v5VxGb6x94
- Clear water Company Profile Link: New forms of organisation
References:
- Francis, D. & Bessant, J. (2005) Targeting Innovation and implications for capability development, Technovation, 25 (3), 171-183.
- Schumpeter, J.A., 1934. The theory of economic development. Cambridge. MA: Harvard.
- Hagedoorn, J., 1996. Innovation and entrepreneurship: Schumpeter revisited. Industrial and Corporate Change, 5(3), pp.883-896.