Innovation Management and Entrepreneurship MSc (with pathway)

30 credits

Organisations with a strong, consistent and successful focus on managing innovation outperform their competitors in terms of growth and financial performance. Innovation management requires special knowledge and skills, which are different to standard strategic management theories and practices. Innovative companies often need to raise capital from external sources because they do not have sufficient internal resources or cannot access loans. They typically look for venture capital or business angels to provide them with the financing they need to expand, break into new markets, and grow faster. Innovative companies famous for receiving venture capital or business angel funding early in their development include Apple, Microsoft, Google and Amazon. Recently, the explosion of crowdfunding platforms has signalled a new era for the innovation finance industry.

This module introduces you to the main concepts and management tools for innovation activities and analyses all stages of the entrepreneurial funding ladder for innovative companies. It examines the main forms of entrepreneurial finance and the investment process; how private equity and venture capital funds, business angels and crowdfunding platforms work; how firms become investment ready, raise external finance and how to they finally exit. You also learn about wider framework conditions that have a bearing on business innovation, including availability of entrepreneurial finance, public policies and agencies promoting innovation.

The aims of this module are to:

• develop an understanding of the role and relevance of innovation activities in an organisational context;
• enable you to reflect productively on your individual and team capacities to act as innovation managers in identifying and exploiting opportunities, developing entrepreneurial / intrapreneurial management behaviours and skills whilst coping with uncertainty, risks and complexity;
• develop in-depth knowledge of the entrepreneurial finance industry including private equity, venture capital, business angels and crowdfunding, including a good understanding on how such instruments differ from other types of corporate finance;
• understand the decision-making process with respect to screening and selecting of business proposals, negotiating and structuring the deal, following up on investments, and exiting; and
• enhance and develop key skills in pitching to venture capitalists and develop an appreciation on the evaluation of business opportunities from a VC point of view. To further learn how VCs structure deals, monitor and add value to their portfolio companies.

30 credits

This module introduces the concepts of entrepreneurship and growth and provides you with an opportunity to begin exploring your practice in modern society, particularly about innovative businesses enabled by Generative Artificial Intelligence.

Throughout this module, you will explore and develop new Generative Artificial Intelligence skills augmented by your entrepreneurial capabilities including critical thinking, creative problem solving, idea exploration, business model and development of growth strategies.

Generative Artificial Intelligence-powered entrepreneurship and growth are relevant to all types of organisations and environments – public sector, not-for-profit and for-profit, small and large businesses – so the module is relevant to students from different backgrounds and motivations.

30 credits

In an era of rapid change and growing uncertainty, the success and growth of corporate organisations, including SMEs and start-ups, lie on their ability to foresee external changes and adapt swiftly. This module equips you with the future-focused skills required to navigate this dynamic environment effectively.

You will explore various processes through which corporate organisations gather, interpret, and respond to information within their volatile environments. You will analyse case studies and examples from organisations in both advanced and developing countries to understand diverse international contexts. Emphasis will be placed on strategic and foresight methodologies such as trend and environment analysis, sci-fi narratives, and scenario planning.

Unlike traditional rigid planning methods, contemporary strategic decision-making involves continuous learning, flexibility, and adaptation. You will be prepared to lead and innovate in a constantly evolving global landscape, setting yourself apart in the competitive field of management and entrepreneurship.

30 credits

This module aims to give you the knowledge and understanding of creative and business behaviours necessary for developing a product/service and establishing an innovative multidisciplinary business enterprise. You will work in teams to set up a business. Business mentors will be available to coach the teams.

The aims of this module are to:

• critically evaluate and apply design thinking practices into new enterprise ventures
• gain first-hand experience of managing and developing a start-up business through multidisciplinary collaboration including management and leadership theories in the context of the creative economy
• develop a professional presence through social media
• critically reflect and apply the entrepreneurial and social media skills learnt through the venture to future career goals including creative and innovative individual leading capabilities.

60 credits

This module provides you with the opportunity to research a specific area of start-up venture, established organisation, policy instrument or program linked to entrepreneurship, innovation and small business development. It involves the identification of a research question which merits investigation using appropriate theory and research methods in order to be able to make sound, evidence-based, managerial recommendations. You will write a research proposal followed by a research project, combining academic rigour with practical implications. This will be a theoretically-grounded and scientific research project leading to findings that will inform policy making decisions.

You will have the opportunity to apply research skills, as well as acquire capabilities for independently managing a large-scale research project. The module also enables you to draw together and implement the knowledge and skills gained in other modules of the course. The module will aid you in developing and practising a set of advanced research skills which will equip you for making sound business plans for start-up venture, or established firms; or policy interventions in the area of entrepreneurship and innovation underpinned by objectively-determined evidence.