Your programme is made up of credits, the total differs on programme to programme.
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 5.0 |
| European Credit Transfer System | |
Entrepreneurship and innovation management, specifically new product/service development, has become a new imperative in strategic marketing and management. Everybody wants to be the next Google, Tesla, or Netflix; nobody wants to be Kodak, Blockbuster, or BlackBerry. Today, “Innovate or die” or “innovation is the source of competitive advantage” are common clichés in any business/technology related conferences, magazines, academic journals, and books. While these clichés are inspiring for many managers, achieving success through entrepreneurial action is not easy and the failure rate is high.
The focus of entrepreneurship and innovation management is to enable a firm to respond to an external or internal opportunity, and uses its creative efforts to introduce new ideas, products, or services. Successful new products/services, in turn, help capture and retain market share, increase profitability, and achieve competitive advantage. What characterizes such a process of innovation leading to success? Holistic integration of marketing, design and technology, combined with strategic thinking is the only way to manage innovation in a sustainable way.
This module examines entrepreneurship and innovation management from a strategic marketing perspective; enabling students explore principles in relation to entrepreneurship and innovation management, specifically new product/service development. This module will be delivered through introducing relevant literature, learning experiences, and industry-linked case studies; so that theory and practice go together.
Semester 2 – the focus during this semester is on working on Building a minimum viable product for a client.
- Building a viable business model
- Design Thinking for new product and service development
- Application of Design Thinking methodology to real-life organisational issues
- Wicked problems
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 2 | 1:00 | 2:00 | 1-hour-long lectures for semesters 2 (2x 1 hours) |
| Guided Independent Study | Assessment preparation and completion | 1 | 30:00 | 30:00 | Time for students to complete formative and summative coursework & assessments |
| Guided Independent Study | Directed research and reading | 1 | 33:00 | 33:00 | Estimated based on 3 hours per teaching week (not necessarily to do in that week) |
| Scheduled Learning And Teaching Activities | Small group teaching | 8 | 2:00 | 16:00 | Semester two – 8 x 2 hours which splits cohort into two |
| Guided Independent Study | Independent study | 1 | 18:00 | 18:00 | Balance to equal 200 overall |
| Scheduled Learning And Teaching Activities | Scheduled on-line contact time | 1 | 1:00 | 1:00 | Semester 2: 1- Assessment briefing |
| Total | 100:00 |
| Code | Title |
|---|---|
| MKT3014 | New Product and Service Development |
This module will be delivered through introducing relevant literature, group learning experiences, and industry-linked case studies; so that theory and practice go together. There will be a mix of lectures, seminars, and group discussions held throughout the year. Students are in control of their learning in this module.
In semester two, the module will use real life clients as students work in groups to respond to a new service or innovation of the service. Issues will come from business, organisational, or societal areas. In tackling real life clients’ students will develop; employability skills, collaboration skills, critical thinking, reflection and self-awareness, whilst improving student engagement. Working with real clients ensures classes are provide hands on support for students to apply the theory and put into action and practise.
The format of resits will be determined by the Board of Examiners
| Description | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|
| Portfolio | 2 | A | 100 | 2000 words individual portfolio |
In semester two, real life clients will present problems of their services, as students work in groups to respond to clients’ challenges. The assessment will be summited with an individual portfolio of 2,000 words which explains the models and techniques required to implement a New Service.