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21227 Innovation and Entrepreneurship

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2018 is available in the Archives.

UTS: Business: Management
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Description

This subject provides students with an understanding of the fundamental theories and practices underpinning innovation in organisations. Students learn to recognise and implement different types of innovation, and assess related strategies, structures and processes to manage organisational innovation. The subject examines how classical and contemporary forms of innovation occur across multiple industries and contexts, spanning large established organisations as well as small new startups. Students gain skills in applying relevant frameworks to analyse how innovation can be developed and organised strategically in complex and dynamic environments. The aim is also to provide students with practical insights into developing innovative business models and explore how open, collaborative, digital modes of innovation such as crowdsourcing help organisations create and capture value in novel ways.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Demonstrate an understanding of the key elements and types of innovation and entrepreneurship
2. Examine the strategies, structures and processes that underpin different types of innovation and entrepreneurship
3. Discuss how to organize and manage classical and contemporary forms of innovation and entrepreneurship
4. Apply theories and concepts of innovation and entrepreneurship in creating and capturing value through innovative business concepts and entrepreneurial ventures

Contribution to the development of graduate attributes

This subject contributes to developing skills in developing and managing new products, services, processes or business models. The subject builds the students’ ability to conduct a strategic analysis to examine ways to innovate a business, and critically reflect on different types of business and organizational innovation. Particular attention is given to enabling students apply relevant theories, concepts and frameworks to understand how innovation manifests in practice, and make decisions about managing innovation in contemporary real-world settings.

This subject contributes to the development of the following graduate attributes:

Business knowledge and concepts

Critical thinking, creativity and analytical skills

Communication and interpersonal skills

Teaching and learning strategies

The subject comprises a 1.5 hour lecture and a 1.5 hour tutorial each week. A variety of teaching and learning activities are used, including lectures where theoretical concepts and frameworks are discussed and analysed, and students are led through case studies and practical application exercises. Tutorials feature collaborative discussions, exercises and group project work. Face-to-face lectures are supplemented in many ways, including electronic learning materials and resources and online pre-class preparation activities. UTS Online and other digital applications are used to share information and feedback, and encourage interaction between teaching staff and students.

Content (topics)

  • Innovation concepts and theories
  • Classical and contemporary forms of innovation
  • Product and service innovation
  • Business model innovation
  • Open innovation and crowdsourcing
  • User innovation and user entrepreneurship
  • Social innovation and social entrepreneurship
  • Organizing and managing innovation
  • Innovation strategy, structure and processes
  • Innovation systems and networks

Assessment

Assessment task 1: Research Report (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 4

Weight: 30%
Length:

2000 words (excluding references, tables and figures).

Assessment task 2: Innovation project (Group)

Objective(s):

This addresses subject learning objective(s):

1, 3 and 4

Weight: 30%
Length:

10 minutes (8 minutes pitch + 2 minutes Q&A)

Assessment task 3: Essay (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 40%
Length:

2500 word essay (excluding references)

Minimum requirements

To pass the subject, students need to achieve at least 50% of the total marks.

Required texts

Guide to Writing Assignments, Faculty of Business, University of Technology, Sydney. This guide is available as a FREE download here. Alternatively, you may purchase a hard copy from the CoOp Bookshop.

Further sssential readings will be made available via UTSOnline. Students are also expected to conduct their own research and draw on artciles from academic journals accessible via the UTS Library.

Recommended texts

1. Bessant, J. and Tidd, J. (2015). Innovation and Entrepreneurship. 3rd Edn. John Wiley & Sons, Hoboken.

2. Keeley, L., Pikkel, R., Quinn, B. and Walters, H. (2013). Ten Types of Innovation: The Discipline of Building Breakthroughs. John Wiley & Sons, New Jersey.

Note: No. 1 is available in print; No. 2 is accessible online in e-book format in the UTS library.

References

The following are suggested readings and indicative only. Further references will be provided via UTS Online:

  • Chesbrough, H., 2003. The logic of open innovation: managing intellectual property. California Management Review, 45(3): 33-58.
  • Von Hippel, E., 2005. The Democratization of Innovation. Cambridge, Massachusetts.
  • Chesbrough, H. 2010. Business Model Innovation: Opportunities And Barriers. Long Range Planning, 43(2): 354-363.
  • Möller, K., Rajala, R. and Westerlund, M., 2008. Service innovation myopia? A new recipe for client-provider value creation. California management review, 50(3): 31-48.
  • Prahalad, C. K., and Ramaswamy, V. (2004). Co-creation experiences: The next practice in value creation. Journal of interactive marketing, 18(3), 5-14.
  • Shah, S. K., and Tripsas, M. (2007). The accidental entrepreneur: The emergent and collective process of user entrepreneurship. Strategic Entrepreneurship Journal, 1(1?2), 123-140
  • Christensen, C. M., Baumann, H., Ruggles, R., and Sadtler, T. M. 2006. Disruptive Innovation For Social Change. Harvard Business Review, 84(12): 94.
  • Frederik, H., O'conner, A. and Kuratko, D.F. 2013. Entrepreneurship Theory, Process, Practice, 3rd Ed, Cengage, Melbourne, Australia.
  • Normann, R. and Ramirez, R. 1993. From Value Chain To Value Constellation: Designing Interactive Strategy. Harvard Business Review, 71(4): 65-77.
  • Osterwalder, A. and Pigneur, Y. 2010. Business Model Generation: A Handbook For Visionaries, Game Changers, And Challengers: Wiley.