26824 Innovation Lab
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Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
In this subject, students learn to respond to challenges and opportunities for innovation across multiple industries and contexts, spanning large established organisations and SMEs. Students learn to identify key megatrends – technological, market, economic, environmental and social forces influencing organisations, industry sectors and society. They explore how open innovation and digital technologies can be harnessed to develop business models that address these megatrends, and drive breakthrough change in existing and insurgent enterprises. To do so, students work collaboratively to apply a range of analytical frameworks and tools to discover innovation opportunities and generate solutions and strategies to real-world problems. They gain the ability to conceive, organise and execute transformation in organisations through open innovation mechanisms such as crowdsourcing, co-creation, digital platforms and ecosystems. Students also learn how to craft a compelling narrative about strategic innovation and transformation.
Subject learning objectives (SLOs)
| 1. | Critically apply a range of contemporary innovation concepts and practices to address challenges and opportunities in the digital era |
|---|---|
| 2. | Apply diverse frameworks and tools to analyse industry megatrends and develop open innovation and digital transformation strategies |
| 3. | Demonstrate skills in collaborating with multiple stakeholders and incorporating diverse perspectives to create or rethink strategic innovation options |
| 4. | Present findings to a professional/expert audience persuasively and professionally using a range of visualisation and storytelling techniques |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the following program learning objectives:
- Critically reflect on the leadership capabilities required to ethically and appropriately work with and for Indigenous Australians in organisations (5.1)
Contribution to the development of graduate attributes
The subject develops students’ understanding of a range of megatrends and how these can be addressed as opportunities for responsible management practice of business and social innovation. The subject introduces students to concepts and methods for envisioning futures and leveraging open innovation and digital transformation to develop a strategic response to challenges and opportunities. Students apply a range of analytical tools and techniques, and develop their communication, collaboration and presentation skills.
This subject contributes to the development of the following graduate attribute(s):
- Professional and technical competence
This subject also contributes specifically to develop the following Program Learning Objective(s):
- Synthesise evidence-based judgement, analytical and creative skills to evaluate and solve complex business problems (1.1)
- Communicate ideas, decisions and strategies clearly and apply interpersonal skills that are sensitive to diverse people, cultures and contexts (2.1)
- Practice ethical leadership and responsible decision-making to create culturally contextualised and sustainable economic, social and ecological business outcomes (3.1)
- Integrate complex business concepts and practices with professional integrity to critically evaluate the purpose and management of businesses for transformation and growth (4.1)
Teaching and learning strategies
The subject is offered in intensive block mode over two full days and two evening classes using a mix of a case study and best practice approach. Delivery of teaching and learning materials, lectures, webinars and discussions are supported by online learning and communication tools and the UTS learning management system. The face-to-face classes engage students in group work, discussions and exercises to reflect upon and revise the content.
It is recommended that students engage with a broad range of materials, including relevant chapters in books, videos, practitioner literature, news articles, academic journal articles as well as online learning material. Each learning module provides a collection of readings and background materials. It is expected that students engage with this material before attending class.
Content (topics)
- Contemporary forms and models of innovation: Open innovation, Cocreation, Crowdsourcing, Platforms and Ecosystems
- Disruptive megatrends: Emergent technologies, Industry convergence, Digital Transformation, Social Impact
- Analytical frameworks and tools for Innovation opportunity recognition, Ideation and Business model generation
- Key concepts and methods for addressing business and social challenges and opportunities
- Visualisation and storytelling tools and methods
Assessment
Assessment task 1: Report and Presentation (Group 30% and Individual 30%)*
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 60% |
| Length: | The oral presentation is 15 minutes, followed by 10 minutes of Q&A. The report length is 3,500 words (excluding title page, table of contents, executive summary, references and appendices). |
| Criteria: | As a group, students will be assessed based on:
Individually, students will be assessed based on:
*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Reflection (Individual 40%)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 This addresses program learning objectives(s): 5.1 |
|---|---|
| Weight: | 40% |
| Length: | 2,500 words |
| Criteria: | Students are assessed based on in-depth reflective insights and logically analysed content presented in coherent language and style. They are expected to draw upon a wide range of sources to benchmark their personal experience with existing literature.
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Recommended texts
Tidd, J., & Bessant, J. R. (2020). Managing innovation: integrating technological, market and organizational change. John Wiley & Sons.
References
Boudreau, K. J., & Lakhani, K. R. (2013). Using the crowd as an innovation partner. Harvard Business Review, 91(4), 60-69
Chesbrough, H. (2019). Open Innovation Results: Going Beyond the Hype and Getting Down to Business. Oxford University Press.
Cusumano, M. A., Gawer, A., & Yoffie, D. B. (2019). The business of platforms: Strategy in the age of digital competition, innovation, and power. New York, NY: HarperCollins.
Gupta, S. (2018). Driving digital strategy: A guide to reimagining your business. Harvard Business Press.
Iansiti, M. & Lakhani, K. (2020). Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World. Harvard Business Press.
Osterwalder, A., Pigneur, Y., Smith, A., & Etiemble, F. (2020). The Invincible Company: How to Constantly Reinvent Your Organization with Inspiration From the World's Best Business Models. John Wiley & Sons.
Pisano, G. P., & Verganti, R. (2008). Which kind of collaboration is right for you. Harvard Business Review, 86(12), 78-86.
Randhawa, K., Wilden, R., & Gudergan, S. (2021). How to innovate toward an ambidextrous business model? The role of dynamic capabilities and market orientation. Journal of Business Research, 130, 618-634.