MGMT06035 2013 Creativity, Innovation and Entrepreneurship

General Details

Full Title
Creativity, Innovation and Entrepreneurship
Transcript Title
Creativity Innovation and Entr.
Code
MGMT06035
Attendance
N/A %
Subject Area
MGMT - Management
Department
MENG - Mech. and Electronic Eng.
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2013 - Full Academic Year 2013-14
End Term
9999 - The End of Time
Author(s)
Brian Coll
Programme Membership
SG_EMECL_B07 201300 Bachelor of Engineering in Mechanical Engineering SG_EMECH_B07 201300 Bachelor of Engineering in Engineering in Mechatronics SG_EELEC_C06 201500 Higher Certificate in Engineering in Engineering in Electronics SG_EMTRN_C06 201500 Higher Certificate in Engineering in Mechatronics SG_EMECL_C06 201500 Higher Certificate in Engineering in Mechanical Engineering SG_EMECH_B07 201300 Bachelor of Engineering in Mechanical Engineering SG_EMECL_B07 201600 Bachelor of Engineering in Mechanical Engineering SG_ETRON_B07 201600 Bachelor of Engineering in Electronic Engineering SG_EELCO_B07 201700 Bachelor of Engineering in Electronic and Computer Engineering SG_EELCO_C06 201700 Higher Certificate in Engineering in Engineering in Electronic and Computer Engineering SG_EMTRN_C06 201500 Higher Certificate in Engineering in Mechatronics SG_EELCO_C06 201800 Higher Certificate in Engineering in Electronic and Computer Engineering SG_EELCO_B07 201800 Bachelor of Engineering in Electronic and Computer Engineering SG_EMECH_C06 201900 Higher Certificate in Engineering in Engineering in Mechatronics
Description

Due to the level of change in the workplace, several research and industry reports have identified key generic skills which are critical to the future employability of graduates.  These skills collectively are known as Professional Transferable Skills (PTS). The importance of PTS is now widely recognised in the workplace. This is especially true of technology-based industries where content knowledge can quickly become outdated and therefore transferable skills are exceptionally important. 

This module is designed to develop key Professional Transferable Skills (PTS) such as creativity, innovation and entrepreneurship - the ability to think creatively and to see and exploit the business opportunity. Speakers from Industry and Government agencies (Enterprise Ireland) will be invited to present to the students.

The student will also be equipped with the skills to successfully implement a job search plan and to perform at interview.  Websites such as Linkedin will be reviewed and students will have an opportunity to generate their profile.

The module will take a potential entrepreneur through the whole process of starting a business, from first thoughts about the business idea to the practicalities of start-up. The student will be required to generate new business ideas and  from that develop a new Business Plan for a start-up company. 

For those students already in employment, this module will focus on 'intrapreneurship'. Intrapreneurship is the process by which companies seek to maintain their competitive edge in innovation and profit by asking employees to spawn new businesses within their company.  This module would provide the student with a greater understanding of what it would take to run a particular aspect of the company, perhaps a new product line, department or subsidiary. 

Key reasons major corporations encourage intrapreneurship are:

·Technology and globalisation are increasing competition. Companies that can pounce quickly on new opportunities will have an advantage over slower competitors.

·A recent McKinsey report shows that a company's chances of holding on to a top position are fading. The key player in any industry will have a tougher time holding onto the top spot now more than ever. Leaders must become creative, innovative, flexible and entrepreneurial.

•Employee loyalty is ending. If employees feel their great idea would be better received by the competition, they will leave more quickly than ever before. Take, for example, the case of Palm. The company grew large; it started stifling intrapreneurship, and the founders left to start Handspring. Then Palm realised its mistake and purchased Handspring back at a huge cost.

Topics to be addressed include:

  • What makes a good entrepreneur / intrapreneur?
  • Generating the business idea - Creativity and Innovation
  • Market Research, Marketing & Advertising  
  • Financial support
  • Preparing operation budgets and break-even analysis 
  • How to generate a business plan
  • How to present your plan (pitch) to potential investors  

It is not required that the proposed new business will be taken any further than the end of the academic year. The marking criteria will take into account how innovative the idea is, that the plan is realistic (potential sales, market share, market research, financial projections) and that students have addressed the main issues including staffing, funding, and route to market. 

Guest lecturers will be invited to present to the class on Entrepreneurship - Industry, Government support agencies and past students.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Identify and apply the five steps used in the creative process

2.

Generate innovative new ideas / inventions and translate into a product or service that adds value and for which customers will pay.

3.

Generate financial statements, operating budgets and break-even analysis.

4.

Prepare a business plan presentation using appropriate software tools  (Web, Powerpoint or Prezi) for a new manufacturing or service business.

5.

Present ('Pitch') the business plan to a group of potential investors or state agencies.

6.

Write a C.V. and covering letter and perform at a mock interview.

Module Assessment Strategies

Business Plan Assessment Criteria 

1) Project Concept - is the proposed product/service innovative or an import substitution.  Is it feasible and is there a market for it?

2) Planning and Projections - has the market been thoroughly researched and potential competitors identified? Have the capital investment and operational cash requirements been identified and estimated realistically?

3) Professionalism of Approach - have all aspects of the business been fully considered and are the necessary practical skills in place to deliver on the concept?

4) Presentation - is the submission presented clearly, in an easy-to-read format?

Repeat Assessments

Repeat of the Business Plan and Continuous assessments.

Indicative Syllabus

Indicative Syllabus

This subject provides practical relevant information in creativity. innovation and entrepreneurship. It takes a student through the process of starting a business. 

Syllabus Content: Creativity, Market Research, Competitiveness, Feasibility studies, Business plan, Accounting, Operating budgets, Intellectual Property, Innovation, Entrepreneurship and Intrapreneurship.

 Indicative Practicals/Projects

  • 3 point plan: research the company, research the job, research self.
  • Analyse self: professional skills / personal skills
  • Structured interview formats
  • Creativity and innovation workshops
  • Conduct Market Research analysis
  • Various practicals to include costing, production planning, quality, and capital expenditure requirements.
  • Generation of Operating Budgets
  • Completion of Business Plan.
  • Presentation of Business Plan ('The Pitch)
  • Generate profile on sites such as LinkedIn

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Presentations / Interviews Continuous Assessment Assignment 75 % OnGoing 1,2,3,4,5,6
2 Project Final Report and Presentation Continuous Assessment Assessment 25 % End of Term 1,2,3,4,5,6
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Practical Computer Laboratory Computer Lab 2 Weekly 2.00
Lecture Lecture Theatre Theory 1 Fortnightly 0.50
Independent Learning Not Specified Moodle Resources and Activities 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 2.50 Hours

Module Resources

Non ISBN Literary Resources

Authors

Title

Publishers

Year

O'Kane, Immink

Starting Your Own Business, 2nd Edition. ISBN I-86076-224-7

Oak Tree Press

2005

De Bono, Edward

Lateral Thinking

Penguin Books

1990

De Bono, Edward

Serious Creativity

Harper Collins

1992

Norman, Donald A.

The Design of Everyday Things

The MIT Press

1998

Pinchot, Gifford Ill

Intrapreneuring - Why You Don't Have To Leave The Corporation To Become An Entrepreneur

Harper & Row

1997

URL Resources

Listed on Moodle site

Other Resources

Listed on Moodle site

 

Additional Information

Listed on Moodle site