Study Guide

Objectives (course unit)

Learning outcomes of the course:
The course provides a theoretical overview and the tools for creating innovations for profitable business. Using service creation as a tool, it provides insights of product and services development process and the positioning of innovation into right marketplace. Also, creating a reasonable business model and basics of ensuring the intellectual property rights (IPR’s) are discussed.

After completing the course, students will be able to:
• Understand the different aspects of innovation, and its role in developing a business
• Recognize, assess and suggests solutions for supporting organizations innovation performance
• Apply innovation theories and practices in a variety of business settings
• Evaluate the business feasibility of innovations, products and services
• Understand the product and service design process phases
• Identify the critical phases of product and service design projects

Content (course unit)

How to foster innovations?
How to develop products and services from innovations?
What are intellectual property rights and how to ensure them?
How to evaluate project business feasibility?

Prerequisites (course unit)

-

Further information (course unit)

-

Assessment criteria, satisfactory (1-2) (course unit)

The student can name different aspects of innovation, and their role in developing a business. He/she can recognise solutions for supporting an organisation’s innovation performance. The student is able to apply innovation theories and practices in a variety of business settings. He/she can evaluate the business feasibility of innovations, products and services. The student recognises the different phases in the product and service design process.

Assessment criteria, good (3-4) (course unit)

The student is familiar with the different aspects of innovation, and their role in developing and growing a business. He/she can recognise and assess solutions for supporting an organisation’s innovation performance. The student understands the strategies most effective for exploiting innovations. The student is able to apply innovation theories and practices in a variety of business settings. He/she can evaluate the business feasibility of innovations, products and services. The student can plan, implement and assess the different phases of the product and service design process. He/she can identify critical phases of product and service design projects.

Assessment criteria, excellent (5) (course unit)

The student has in-depth understanding of the different aspects of innovation, and their role in developing and growing a business. He/she can recognise, assess and advocate the most suitable solutions for improving an organisation's innovation performance. The student can develop and implement the most effective strategies for exploiting innovations. The student is able to implement innovation theories into practice in a variety of business settings. He/she can boost the business feasibility of innovations, products and services. The student can plan, implement and assess the different phases of the product and service design process. He/she can tackle critical phases of product and service design projects.

Location and time

There are six teaching sessions altogether taking place once a week.

Assessment methods and criteria

Will be presented on the first lecture.

Assessment scale

0-5

Teaching methods

Lectures, exercises, individual and group assignments

Learning materials

Materials available in Moodle
Lecture slides

Student workload

The course is worth 5 credits, which means a total workload of 135 hours.

Content scheduling

The course is part of the Innovation Management and Business Development study module. Consultation Projects: Entrepreneurship focus / Business Development focus courses will run parallel with this course. It is the practical part of the study module where the learnings of this course will be implemented.