BS2402 Innovation & Entrepreneurship
Module Teaching Objectives
 To introduce students to the concept of innovation
 To explain why it is important for all types of firm or
organisation and country economies
 To learn how to innovate and the role of
‘entrepreneurial management’ in this context
1
BS2402 Innovation & Entrepreneurship
Module Learning Outcomes
 Understand what is meant by innovation
 Understand what is meant by entrepreneurship
 Assess why innovation and entrepreneurial
management are important for wealth and value
creation
 Evaluate the potential importance of innovation and
entrepreneurial management in your own
organisation by using what you have learnt
2
BS2402 Innovation & Entrepreneurship
Your Expectations for module?
Think /note down, for 1min and be ready to share
3
BS2402 Innovation & Entrepreneurship
Module Structure Overview
Date
Content
Manual ref
Assignment link
Wed 5th Sept
Introduction to
Innovation & defining
Assignment Brief.
Entrepreneurship.
Importance of
innovation
Unit s
1,2,3
Define innovation &
types. Recent
innovations in org’n
Understand assignment.
Define entrepreneurship/
entrepreneurial
management.
Sat 8th Sept
Entrepreneurial/
innovation mgt process
Context for Innovation.
Factors supporting/
hindering.
Managing the process
Overcoming barriers
Units
4,5,6
Behaviours that impede
or facilitate
entrepreneurial
management .
Critical factors/barriers?
Making the innovation
happen
4
BS2402 Innovation & Entrepreneurship
Teaching innovation and entrepreneurship...
“There’s nothing
quite like doing it…”
Entrepreneur
Tension
“This is how it
should be done…”
University
BS2402 Innovation & Entrepreneurship
Unit1: Introduction to Innovation & Entrepreneurship
Unit Learning Outcomes
 Understand broadly what is meant by innovation
 Understand broadly what is meant by entrepreneurship
 Understand broadly why innovation and entrepreneurial
management are important for the creation of social and
financial value
 Introduction to a basic organisational process model
 Recognise the potential importance of innovation and
entrepreneurial management in your own organisation
6
BS2402 Innovation & Entrepreneurship
What is innovation?
What is your understanding of the term?
Brief class discussion
7
BS2402 Innovation & Entrepreneurship
What is innovation? Participants in the EC
Lisbon Council's 2010 Innovation Summit
Listen to this video clip: What is innovation?
http://www.youtube.com/watch?v=2NK0WR2GtFs
Afterwards –
1) Write down as many of the innovation descriptions
as you can!
2) Just who are these people? Where do they come
from
3) Class Discussion
8
BS2402 Innovation & Entrepreneurship
INNOVATION: A Definition (E. Roberts)
Good Idea
Invention
INPUTS
Group member
Knowledge, skills,
effort
+
Successful
Exploitation and
Implementation
Entrepreneurial/
Innovation
Management
Process
=
INNOVATION
OUTPUTS
adding value
9
BS2402 Innovation & Entrepreneurship
Evolutionary “Creative Destruction” Joseph Schumpeter
“This process of Creative Destruction is the essential fact about
capitalism. It is what capitalism consists in and what every
capitalist concern has got to live in….”
Schumpeter's Innovation Definition:
•
•
•
•
•
introducing new commodities
or
qualitatively better versions of existing
ones;
finding new markets;
new methods of production and
distribution;
new sources of production for existing
commodities;
introducing new forms of economic
organisations” (Schumpeter, 1942)
BS2402 Innovation & Entrepreneurship
Broad set of Definitions for Innovation:
• Innovation is the process by which new ideas are successfully
exploited to create economic, social and environmental
value.BIS (2011) http://www.bis.gov.uk/innovation
• ‘innovation is the process of successfully bringing something
new into use, to a market or community, that satisfies need or
latent demand’ (Gurling, 2010, Unit 1)
• ‘A process starting with an invention or an idea, proceeds with
the development of the invention/idea and results in the
introduction of a new product, process or service to the market
place” (Acs and Audretch, 1998)
• Companies achieve competitive advantage through acts of
innovation. They approach innovation in its broadest sense,
including both new technologies & new ways of doing things’
(Michael Porter 2009)
• At most simple level “Something new of value to the world,
made to happen!”
11
BS2402 Innovation & Entrepreneurship
Without “new things” appearing in the
marketplace:• No stimulus to demand and supply
• Jeopardises sustainable economic growth
Innovation is therefore an essential ingredient to a freemarket economy to encourage growth in demand and
supply – basic economics
Creative tides of destruction destroying old markets and
replacing them with new ones
BS2402 Innovation & Entrepreneurship
Innovation creates value
Types of Value
– Economic
– Financial
– Social
– Environmental
– Aesthetic
BS2402 Innovation & Entrepreneurship
Creativity:
The generation of new ideas
Innovation: The successful exploitation of new ideas
14
BS2402 Innovation & Entrepreneurship
Kuhn suggests
“creativity forms something from
nothing but that innovation shapes
that something into products and
services “ (Kuhn, 1985).
15
BS2402 Innovation & Entrepreneurship
Generation of ideas
So how do you find ideas?
Discuss then watch video:
Watch Video: Steve Jobs Where do ideas come
from?
http://www.youtube.com/watch?v=NugRZGDbPFU
16
BS2402 Innovation & Entrepreneurship
The Creative Thinking Process
Incubation
Knowledge
Accumulation
Creative
Process
Ideas
Evaluation
&
Implementation
17
BS2402 Innovation & Entrepreneurship
Individual or team – which is better?
Incubation
Knowledge
Accumulation
Ideas
Evaluation
&
Implementation
18
BS2402 Innovation & Entrepreneurship
“Design” links creativity and innovation
 Shapes ideas to become practical and attractive
propositions for users or customers
 Design may be described as creativity to point to a
specific end (Cox review on Creativity in Business:
building on the UK’s strength 2005)
Idea/Invention
Design
Application
Prototyping
Piloting
Innovation
BS2402 Innovation & Entrepreneurship
 Innovations can be classified (or categorised) in
many different ways
 All to help think about what you can do to
achieve successful innovation
 So.....here are some categorisations ..
BS2402 Innovation & Entrepreneurship
Perceived extent of change
Dimensions of innovations space
Transformational
Radical
Incremental
Product
Service Process
What is changed
(Tidd, Bessant and Pavitt)
BS2402 Innovation & Entrepreneurship
Tidd,Bessant & Pavitt’s: Definition of Innovation
 Incremental Innovation – small improvements to
existing products, services or processes- “do what we
do but better”
 Radical Innovation – Significantly different changes to
products, services or processes - “ do what we do
differently”
 Transformational Innovation – Offering something
that provides the platform on which other variations
and generations can be built. (e.g. The wheel, printing press,
internet – one thing, wide impact)
BS2402 Innovation & Entrepreneurship
Tidd,Bessant & Pavitt’s: Definition of Innovation
 Product innovation – change in the things that
(products/services) which an organisation offers
 Process innovation - changes in the ways in which
they are created and delivered
 Position innovation-changes in the context in
which the product for services are introduced (
Market)
 Paradigm innovation which frame what the
organisation does ( Strategic / Domain
Transformation)
BS2402 Innovation & Entrepreneurship
Finnegan's Fish Bar: Video clip applying
Bessant & Tidd’s innovation model to a Fish &
Chip shop
http://www.managing-innovation.com/vr_finnigans.php
Take note of the innovation examples given, ready to discuss
25
BS2402 Innovation & Entrepreneurship
Innovation: the OECD Definition - 4 types of innovation
identified in the Oslo Manual for measuring innovation:
Product Innovation: a good or service that is new or
significantly improved.
Process innovation: involves a new or significantly improved
production or delivery method
Marketing Innovation: Marketing innovation involves a new
marketing method involving significant changes in product
design or packaging, product placement, product promotion or
pricing.
Organisational Innovation : Organisational innovation involves
introducing a new organisational method in the firm’s business
practices, workplace organisation or external relations.
These innovations can be new to the firm/educational
institution, new to the market/sector or new to the world
26
BS2402 Innovation & Entrepreneurship
Plus...... Service Innovation
 A new or significantly improved service concept
put into practice.
e.g. can be a new customer interaction channel,
distribution system or a technological concept or a
combination of them.
 Service innovation always includes replicable
elements that can be identified & systematically
reproduced in other environments.
 Service innovation benefits both the service
producer and customers
 Competitive edge for the service provider can be
based based on some technology or systematic
method.
27
BS2402 Innovation & Entrepreneurship
Technical / technological innovation
…a mix of physical appliances and human ways of
doing things involving:
1. Creating new knowledge
2. Generating technical ideas aimed at new and enhanced
products, manufacturing processes and services
3. Developing those ideas into working prototypes; and
4. Transferring them into manufacturing, distribution and
use
Sources: Scarborough and Corbin (1992); Roberts, E.B. (1988)
28
BS2402 Innovation & Entrepreneurship
Social Innovation – Mulgan and Albury 2003
• “New ideas that meet unmet needs, social innovations –
are all around us.
• Include Fair trade and restorative justice, hospices and
kindergartens, distance learning and traffic calming.
• Over last two centuries, innumerable social innovations,
from cognitive behavioural therapy for prisoners to
Wikipedia, have moved from margins to the mainstream.
• As this has happened, many have passed through the
three stages identified by Schopenhauer for any new ‘truth’:
‘First, it is ridiculed. Second, it is violently opposed.
Third, it is accepted as being self-evident” “
29
BS2402 Innovation & Entrepreneurship
Watch and listen: Skoll Foundation Video
An example of a social entrepreneurship starting with Mohammed Yunus
Nobel Prize Winner Grammeen Bank for microfinance
http://www.youtube.com/watch?v=jk5LI_WcosQ
9 mins
30
BS2402 Innovation & Entrepreneurship
So who carries out innovation?
Entrepreneurs!
Where do we find them?
 Individuals in independent new ventures – new
venture entrepreneurship
 Working inside organisations – intrapreneurs as
individuals or teams
 Organisational level – corporate entrepreneurship many different types depending on the organisation
characteristics and what needs to be done
31
BS2402 Innovation & Entrepreneurship
Peter Drucker on the relationship between
Innovation & Entrepreneurship
“Innovation is the specific tool of entrepreneurs, the
means by which they exploit change as an opportunity
for a different business or service. It is capable of
being presented as a discipline, capable of being
learned, capable of being practiced.”
Drucker 1991 HBR The Discipline of Innovation
BS2402 Innovation & Entrepreneurship
Innovation & Entrepreneurship
Different sides of the same coin!
33
BS2402 Innovation & Entrepreneurship
So what is it entrepreneurs do?
Class Discussion...
34
BS2402 Innovation & Entrepreneurship
Definition of Entrepreneurship: Individual
‘A Human Creative Act that builds something of value
from practically nothing.
It is the pursuit of opportunity regardless of
resources….to hand.
It requires vision, passion and the commitment to
lead others in the pursuit of that vision.
It also takes a willingness to take calculated risks’
Source: Timmons New Venture Creation 3rd Edition
35
BS2402 Innovation & Entrepreneurship
Individual or Corporate entrepreneurship
‘Entrepreneurship is process by which individuals - either
on their own or inside organisations - pursue opportunities
without regard to the resources they currently control’
Stevenson, Roberts and Grousebeck 89
36
BS2402 Innovation & Entrepreneurship
Corporate Entrepreneurship Definitions
Sharma and Chrisman 1999
“ a process whereby an individual or a group of individuals
in association with an established company, creates a
new organisation or instigates renewal or innovation within
the current organisation”
Stevenson and Gumpert 1990
“the process of discovering innovative opportunities,
evaluating them and managing the innovation process to
bring the innovation successfully into use”
37
BS2402 Innovation & Entrepreneurship
Entrepreneurship:
A pattern of management behaviour that produces
innovation (individual, group or firm level)
• Perceives and Identifies innovative opportunities
• Takes ‘Risk’ in pursuing this opportunity
• Finds and Gathers scarce resources into appropriate
combinations to create an organisation, which
delivers innovation and value to customer, founder,
investor and stakeholder
• Continually ‘reaches’ for the necessary resources to
solve problems and foster firm growth (Baumol)
38
BS2402 Innovation & Entrepreneurship
Fitting the entrepreneurial management process onto
innovation using Robert’s innovation model
Good Idea
Invention
INPUTS
Group member
Knowledge,
skills, effort
+
Successful
Exploitation and
Implementation
Entrepreneurial/
Innovation
Management
Process
=
INNOVATION
OUTPUTS
adding or
creating value
39
39
BS2402 Innovation & Entrepreneurship
Unit 2: Role of Innovation & Entrepreneurship
in the Economy
BS2402 Innovation & Entrepreneurship
Why is entrepreneurship & Innovation so
important?
Class Discussion
• National Level
• Organisation Level
• Individual Level
41
BS2402 Innovation & Entrepreneurship
National Level - The impact of entrepreneurship / new
firm starts / innovation on economic performance
• Number of new enterprises linked to overall GDP
performance ( Link of TEA / global entrepreneurship monitor
to economic performance / OECD Audretsch & Thurik
• I.e. positive effect of start-ups on economic growth.
In Developed Economies
1. Industry structure is generally shifting towards an
increased role for small enterprises.
2. Extent and timing of this shift not identical across
countries.
3. Shift in industry structures towards a greater role for SMEs
heterogeneous / shaped by country-specific factors.
42
BS2402 Innovation & Entrepreneurship
UK “Innovation Nation” White Paper Mar.
2008
“Innovation is essential to the UK’s future economic
prosperity and quality of life. To raise productivity,
meet the challenges of globalisation and to live within
our environmental and demographic limits, the UK
must excel at all types of innovation.”
UK Coalition Government 2011
Innovation is the process by which new ideas are
successfully exploited to create economic, social and
environmental value. http://www.bis.gov.uk/innovation
2011
43
Organisational level
BS2402 Innovation & Entrepreneurship
Why innovate? EU Commission considers
http://ec.europa.eu/enterprise/sme/innovation_en.htm#
“Innovation is now widely understood to be the driving force
in economic growth. ( Addition CG- in a free market
economy)
It is new products and services, and new methods for
making or delivering them which add value to our economy,
and enable us to improve standards of living.
SMEs are responsible for much of the innovation which
leads to new higher value products and services (even if
ultimately larger firms may take on production and mass
marketing of such innovations), and so the European
Commission seeks to promote innovation to SME’s and all
organisations across Europe”
44
BS2402 Innovation & Entrepreneurship
OECD Fostering Entrepreneurship
• Entrepreneurship & firm creation long been recognised as
a vital force driving innovation.
• With globalization & co-incident shift towards a
knowledge-based economy, link between
entrepreneurship policy & innovation received renewed
attention.
• By underpinning firm creation & firm expansion,
entrepreneurship policies strengthen innovation,
increasing productivity in the enterprise sector.
• In return, policies fostering innovation will tend to spur firm
creation as the results of R&D are commercialized.
45
BS2402 Innovation & Entrepreneurship
Individual level: The Organisation for
Economic Co-Operation and Development
Towards an Enterprising Culture. (OECD (1989)
• "An enterprising individual has a positive, flexible & adaptive
disposition to change, seeing it as normal and as an
opportunity rather than a problem.
• To see change in this way, an enterprising individual has a
security born of self-confidence, & is at ease when dealing
with insecurity, risks & the unknown.
• An enterprising individual has the capacity to initiate creative
ideas & develop them into action in a determined manner.
• An enterprising individual is able, even anxious to take
responsibility, is an effective communicator, negotiator,
influencer, planner & organiser. An enterprising individual is
active, confident and purposeful — not uncertain &
46
dependent“
BS2402 Innovation & Entrepreneurship
Reasons for intense focus on Innovation
1. Economic renewal / rejuvenation within the business
environment (see J. Schumpeter, 1934) and enterprise
2. Response to accelerating pace of technological
change, shorter life cycles, globalisation of
markets (Krondatiev Waves) (Tidd, Bessant & Pavitt)
3. Value Creation and Competitive Advantage for
those able to mobilize knowledge , technological skills and
experience to create new products processes and services
(Barney 91)
4. Socio - political cohesion improvement in
communities as a means of furthering economic development
through the third sector (Mort, Weerawardena & Carnegie 2003)
47
BS2402 Innovation & Entrepreneurship
CG Adapted Innovation and E’ship Management
Model: Bessant and Tidd 2nd Ed 2011
Strategic Vision and direction
Entrepreneurial
Goals and
Innovation
Context
Recognise
opportunity
Find Resources
Develop
Venture by
picking and
deploying
resources
Create Value
Learning
48
BS2402 Innovation & Entrepreneurship
Dyson Case Study:
see electronic manual p 8 Unit 1
• http://www.dyson.co.uk/about/story/
• http://news.bbc.co.uk/1/hi/business/1802155.st
m
• http://news.bbc.co.uk/1/hi/uk/3046791.stm
View, Read and Discuss
49
BS2402 Innovation & Entrepreneurship
Dyson Case Study:
see electronic manual p 8 Unit 1




Where do ideas come from within the company?
How does the company encourage
 Opportunity selection
 Innovation development
 Successful implementation ie the
management process adopted
What barriers did he face in introducing the Dyson
vacuum cleaner?
Is Dyson an entrepreneur? Why?
50
BS2402 Innovation & Entrepreneurship
Your Organisation: Task before next time
 Ask around amongst your colleagues at work and find
out what “new things” have been introduced in the past.
 It is very easy to forget that the things that surround you
were once probably new?
 Eg zips, trainers, biros, plastic bottles....the same
has probably been happening in your work context...
 Try and identify their categories using the previous
slide labelled Dimensions of Innovation Space
 Any people around who consistently “ make new things
happen? Could you categorise them as having an
entrepreneurial approach through successfully
introducing innovation?
51
BS2402 Innovation & Entrepreneurship
CG Adapted Innovation and E’ship Management
Model: Bessant and Tidd 2nd Ed 2011
Strategic Vision and direction
Entrepreneurial
Goals and
Innovation
Context
Recognise
opportunity
Find Resources
Develop
Venture by
picking and
deploying
resources
Create Value
Learning
52
BS2402 Innovation & Entrepreneurship
Dyson Case Study:
see electronic manual p 8 Unit 1
• http://www.dyson.co.uk/about/story/
• http://news.bbc.co.uk/1/hi/uk/3046791.stm
• http://www.youtube.com/watch?v=vjD69XIv0xs
(4min)
View, Read and Discuss
53
BS2402 Innovation & Entrepreneurship
Dyson Case Study:
see electronic manual p 8 Unit 1




Where do ideas come from within the company?
How does the company encourage
 Opportunity selection
 Innovation development
 Successful implementation ie the
management process adopted
What barriers did he face in introducing the Dyson
vacuum cleaner?
Is Dyson an entrepreneur? Why?
54
BS2402 Innovation & Entrepreneurship
Exercise (if time) - in 3s. 10min.
• Discuss your own organisations and/or sector.
• What innovations can you think of within them?
– Some may be quite old
– Are they innovations created by your organisation
or innovations that you use?
• What type are they?
– process, service, product?
– incremental, radical?
55
BS2402 Innovation & Entrepreneurship
Your Organisation: Task before next time
 Ask around amongst your colleagues at work and find
out what “new things” have been introduced in the past.
 It is very easy to forget that the things that surround you
were once probably new?
 Eg zips, trainers, biros, plastic bottles....the same
has probably been happening in your work context...
 Try and identify their categories using the previous
slide labelled Dimensions of Innovation Space
 Any people around who consistently “ make new things
happen?” Could you categorise them as having an
entrepreneurial approach through successfully
introducing innovation?
56
BS2402 Innovation & Entrepreneurship
Your Organisation: Task throughout module
 Can you think of any nagging work problems or
opportunities that need action?
 Start to think, and jot down ,ideas for solving these
problems or taking advantage of the opportunity.
 Can you get a few colleagues together, or suggest
it as a subject for a work meeting?
 We will look further at prompting ideas and
creativity on Sat 3rd March.
57
BS2402 Innovation & Entrepreneurship
Contributions to Study of Entrepreneurship

EFFECTS

CAUSES

BEHAVIOUR
What?
Why?
How?
Economics
Psychology
Management
Sociology
Function by
which growth in
the economy is
achieved
Importance
of the
individual
culture and
community
(Derived from Stevenson and Jarillo SMJ 1990)
How to achieve
entrepreneurial
behaviour and
outcomes
BS2402 Innovation & Entrepreneurship
What Characteristics do you associate
with an Entrepreneur?
BS2402 Innovation & Entrepreneurship
The Entrepreneur… (from Southon & West, 2002)
Entrepreneurs are:
charismatic
confident
obsessed with
work
ambitious
arrogant
in a hurry
manipulative
high in
energy
impatient at
times
poor completers
BS2402 Innovation & Entrepreneurship
Psychology: The Causes
Why do people behave as entrepreneurs?
•
Why do we want to know?
• Picking the right people / economic growth
• Psychological approach: Understanding the
entrepreneurial personality
• Personality Traits (Hisrich & O’Brien 82, Chell
• Cognitive Theories of Behaviour
• Socio-cultural:
•
Environmentally contingent
91)
BS2402 Innovation & Entrepreneurship
Personality Trait Approach:
Internal Characteristics which explain Behaviour ? Internal Locus of Control
(Miller & Freisen 84)
Need for Achievement
(McCelland 61)
Desire for Autonomy
(McCelland 61)
Tolerance of Ambiguity
and Uncertainty
(Schere 82)
Risk Taking /Overoptimistic
(Begley & Boyd 87)
Financial motivation?
BS2402 Innovation & Entrepreneurship
Watch and listen: Skoll Foundation Video
An example of a social entrepreneurship starting with Mohammed Yunus
Nobel Prize Winner Grammeen Bank for microfinance
http://www.youtube.com/watch?v=jk5LI_WcosQ
9 mins
63
BS2402 Innovation & Entrepreneurship
Problems with the Trait approach
• Little predictive power: no guarantee of
entrepreneurial performance
• Personality traits change over time
• Ignores influence and interaction with the
Environment: Social and Cultural, Nature and
nurture debate
• Difficulty in distinguishing the innate from
learnt patterns of behaviour
BS2402 Innovation & Entrepreneurship
Socio-cultural Approach
Environment acts as stimulus
•
Geographic and Demographic Factors (Urban / Rural,
Location / Cluster effect, Age Profile etc)
•
Economic Factors (Economic Climate, Legislative
Environment, Specific Govt Assistance Schemes)
•
Social Factors (Class,Gender, Education, Family
antecedents, Experience, Cultural background)
•
Market / Technology Development Environment acts
as stimulus
BS2402 Innovation & Entrepreneurship
Cognitive Theories: Entrepreneurial Behaviour Models
Behaviour modified by interaction with the environment
Personality traits + Environmental Factors +
Individual Attitudes & Motivation + Learning
= Behaviour
BS2402 Innovation & Entrepreneurship
Management approach
A pattern of management behaviour that produces
innovation (individual, group or firm level)
•
Perceives and Identifies innovative opportunities
•
Takes ‘Risk’ in pursuing this opportunity (link to self-confidence)
•
Finds and Gathers scarce resources into appropriate
combinations to produce an organisation to deliver that
innovation(s)
•
Continually ‘reaches’ for the necessary resources to solve
problems and foster firm growth (Baumol)
Decision-making based on bias and heuristics; networking;
opportunism
•
BS2402 Innovation & Entrepreneurship
Sharon Wright - Magnamol
• Where did Sharon get the idea?
• Which roles is Sharon currently fulfilling and what does
she want from the Dragon/ Dragon to fund?
• What risks has/ is she taking? (you may have to infer).
What do you think spurred her on to take the risks?
• What resources is Sharon using currently?
• What characteristics does Sharon have that have
helped her succeed, and so impressed the Dragons?
BS2402 Innovation & Entrepreneurship
CG Adapted Innovation and E’ship Management
Model: Bessant and Tidd 2nd Ed 2011
Strategic Vision and direction
Entrepreneurial
Goals and
Innovation
Context
Recognise
opportunity
Find Resources
Develop
Venture by
picking and
deploying
resources
Create Value
Learning
70
BS2402 Innovation & Entrepreneurship
Entrepreneurial Management Style (after Stevenson & Gumpert , 1989)
‘PROMOTOR’
‘Entrepreneurial’
‘TRUSTEE’
‘Administrative’
Proactive
Disinclined to change
Tolerant of uncertainty and ambiguity
Guards resources
Able to make incremental changes in
response to environmental pressures
Interested in maintaining
the status quo
Q: What type of manager is your manger?
BS2402 Innovation & Entrepreneurship
Which Types is G-tec here of Organisation (Burns
and Stalker, 1961)
‘mechanistic reproducer’
•
•
•
•
•
•
Routines and competencies
similar to existing organisations
Copied routines
Decisions base on ‘rational’ and
‘scientific’ principles
Formal planning and budgeting
Risk averse resource maximisers
Structured heirarchy
‘organic innovator’
•
•
•
•
•
•
•
Competencies and routines
significantly different to others
Decisions based on cognitive
biases and heuristics
Incremental change to direction
and resource allocation expected.
New resource combinations
Overconfidence and optimism
Resource leveragers; use rather
than own
Flat organisation structure
Where does your organisation sit on this continuum?
BS2402 Innovation & Entrepreneurship
Summary
• Defined innovation & considered types of innovation
• Considered the importance of innovation for different
groups
• Assessed entrepreneurship from different
perspectives.
• Started to consider entrepreneurial
management............more Saturday 10th September
BS2402 Innovation & Entrepreneurship
Date
Manual ref
Assignment link
Unit 1
Introduction
Assignment brief
Importance of
innovation.
Entrepreneurship and
intro to entrepreneurial
management.
Unit 2,
3;
Understand assignment
Defining innovation,
entrepreneurship,
entrepreneurial
management & importance
of innovation.
Context for innovation
including management
orientation
Innovation process .
Ideas generation
Units 4,
5 . Part
unit 6
Critically analyse &
evaluate behaviour that
supports innovation in your
organisation.
Starting ideas generation
for your specific innovation.
Barriers to innovation.
Assignment Q&A
Unit 6
Identify barriers to
innovation in your
organisation & how to
overcome them
Content
Lesson
Plans/ Process
th
Wed 5 Intro to innovation
Sept
Sat 8th
Sept