Spring

Unit(s) of Assessment	Weighting Towards Module Mark (%)
Coursework	50
2 hour exam	50

Innovation has become a core element of many competitive strategies developed in different industry settings. It is largely recognised that the firm’s capability to embrace innovation, either incremental or radical, and effectively manage it has become critical to many individual business contexts. Given the rising of its strategic relevance, the module is intended to provide students with 1) the knowledge to understand and 2) the skills to manage innovation at both the strategic and operational levels of the firms. It particularly provides students with 1) a holistic understanding of the concept of innovation and its relevance to today’s firm competitive advantage; 2) the capability to identify the links between the structures and processes which support specific models of innovation, and 3) the capability to recognise the opportunities for, and constraints to innovation in specific business contexts and organisational settings.  

The aim of the module is to introduce students to the theory and practice of innovation management.  Specifically the main aims are: 

• to enable students to develop knowledge of the multi-facet aspects of the concept of innovation and its strategic relevance to the firm's competitive advantage.
• to enable students to develop knowledge of the theoretical models of innovation management available to the firm in given specific business contexts.
• to enable students to develop critical understanding of the limitations of the theoretical models of innovation management and the opportunities to adapt them to the specific internal environment and positioning of  the firm in a given market.
• to enable students to develop critical and practical skills to manage innovation with reference to a real business context
• to enable students to develop critical understanding of the key factors to manage innovation succesfully.

On successful completion of this module the students will be able to: 

• Identify and classify different business models of innovation management available in practice;
• Develop critical understanding of the limitations of the theoretical models of innovation;
• Work in teams and exercise judgement over a range of strategic and organisational solutions available in a given situation in order to overcome the limitations outlined at point 2;
• Apply the relevant theoretical frameworks of innovation management to a real business context;
• Conduct a written auditing of the firm’s capability to manage innovation effectively.

• Concept and types of innovation
• Innovation and competitive advantage
• Concept and types of innovation strategy
• Innovation strategy: drivers and barriers
• Innovation and its management process
• Knowledge management and its impact on innovation
• Firms’ collaboration and its impact on innovation
• Routines and mechanisms for implementing innovation
• Auditing the innovation management capability

The teaching and learning strategy is designed to give students the opportunity to gain knowledge and understanding of the relevant theory and business practices and problems which are pertinent to innovation management. For this purpose, the reading of selected textbooks and case studies is essential.   

The teaching and learning methods include the delivery of lectures and seminars. Whilst the lectures are mainly designed to illustrate and explain theoretical concepts and models of innovation management, the seminars illuminate the theoretical concepts and models by class discussion and reference to and analysis of a range of specific case studies. Workshops are ultimately designed to develop a practical view of innovation management. Prior to attending the lecture and seminar, students are required to undertake the essential reading as recommended accordingly by the tutor in each teaching week.   

Selected texts/ Journals 

Bettina Von Stamm (2008) "Managing innovation, design and creativity", Wiley (second edition), ISBN: 978-0-470-51066-7.

Recommended 

Burns, T. and Stalker, G. M. (1994) The Management of Innovation. Oxford University Press. 

Hamel. G. (2000) Leading the Revolution. Harvard Business School Press. 

Markides, C. and Geroski, P. A. (2005) Fast second: how smart companies bypass radical innovation to enter and dominate new markets. Jossey Bass. 

Pettigrew, A. M and Fenton, E. M (2000) The Innovating Organization. SAGE.

Pettigrew, A. M., Whittington, R., Melin, L., Sanchez-Runde, C., van den Bosch, F. A. J., Ruigrok, W, and Numagami, T (2003) Innovative Forms of Organizing: An International Perspective. SAGE.

Sundbo, J. (1998) The Theory of Innovation. Entrepreneurs, Technology and Strategy. Edward Elgar.

Tushman, M. L. and Anderson, P. (2004) Managing Strategic and Innovation Change. Oxford University Press.

Supporting Reading

Brown, S. L. and Eisenhardt, K. M. (1998) Competing on the edge: strategy as structured chaos. Harvard Business School Press.

Christensen, C. M. (1997) The Innovator’s dilemma. When New Technologies Cause Great Firms to Fail. Harvard Business School Press. 

Kim, W. C. and Mauborgne, R. A. (2005) Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant. Harvard Business School Press. 

Prahalad, C. H. and Hamel, G. (1994). Competing for the Future. Harvard Business Review Press.

Volberda, H. W. (1998) Building the flexible firm: how to remain competitive. Oxford University Press.

18.12.2009