Innovation Management

Students will understand the nature of Innovation and be able to distinguish between Invention and
Innovation.
Key elements
a) What is Innovation?
b) Innovation: Invention-Commercialisation-Diffusion
c) The part business models play in Innovation.
LEARNING OUTCOME TWO (10%)
Students will distinguish the different forms that Innovation can take, such as product, process and
service Innovation.
Key elements
a) Forms of Innovation such as product, process and service.
LEARNING OUTCOME THREE (18%)
Students will analyse different types of Innovation in terms of their impact on human behaviour,
business activity and society as a whole.
Key elements
a) Types of Innovation such as Radical, Incremental, Modular and Architectural
b) The value of an Innovation typology
LEARNING OUTCOME FOUR (15%)
Students will identify Innovation strategies and determine the appropriate circumstances to implement in
an organisation.
Key elements
a) Different types of strategies
b) External routes to Innovation
c) Internal routes to Innovation: Innovation strategies
LEARNING OUTCOME FIVE (13%)
Students will appreciate and understand the funding requirements associated with Innovation.
Key elements
a) Factors that make Innovation expensive
b) Techniques used by Innovators to reduce and minimise capital requirements
c) Sources of funding available
LEARNING OUTCOME SIX (12%)
Students will understand the contribution that planning makes to effective Innovation.
Key elements
a) Scope of management activities relating to Innovation
b) Functions of management such as planning, organising, leading and controlling.
Assessment 2 June 2014
Paper Code: 703 Version 1.0
Page 3 of 6
c) The contribution, leadership makes to effective management
LEARNING OUTCOME SEVEN (20%)
Students will analyse the factors that lead organisation to foster Innovation.
Key elements
a) Range of policy instruments employed by the organisations
b) Public and private agencies involved in Innovation
c) Institutions that influence the rate of Innovation
d) Policies that contribute to Innovation
ASSESSMENT NOTES
1. Assessment materials should reflect relevant industry standards and acknowledged good
industry/business practices.
2. Integrating assessment of various learning outcomes is viewed as beneficial to the subject matter.
Prescribed text:
Smith, D. (2010). Exploring Innovation (2nd Edition ed.). Bershire, England: McGraw-Hill.
Reference text:
Andriopoulos, C., & Dawson, P. (2008). Managing Change, Creativity and Innovation. London, England:
SAGE Publications.
Mayle, D. (2006). Managing Innovation and Change (3rd Edition ed.). London, England: SAGE
Publications.
Osborne, S. P., & Brown, K. (2005). Managing Change and Innovation in Public Service Organizations
(Illustrated ed.). Taylor & Francis.
Rampersad, G. (2009). Innovation Management. VDM Publishing.
Soni, R. (2009). Innovation Management: Knowledge & Inspiration Toolkit. New Delhi, India: Global
India Publications.
Tidd, J., & Bessant, J. (2013). Managing Innovation: Integrating Technological, Market and
Organizational Change (5th Edition ed.). Chichester, England: John Wiley & Sons.
Tidd, J., Bessant, J., & Pavitt, K. (2005). Managing Innovation: Integrating Technological, Market and
Organizational Change (3rd Edition ed.). Chichester, England: John Wiley & Sons.
Assessment 2 June 2014
Paper Code: 703 Version 1.0
Page 4 of 6
Assessment Instructions
Below are the instructions for this assessment:
1. There are two parts in this Exam. Both are compulsory.
2. Ensure your name, student ID and date is entered on the front page of your answer book
3. Answer ALL questions in the answer sheets provided. Read each question carefully
4. Please use a blue or black pen only to write your answers in the space provided.
5. Make sure you print clearly so the Tutor can read what you have written.
6. As this is an open book assessment, you may use class notes, hand-outs, presentation
material etc. However – you are NOT permitted to use any electronic devices e.g. laptops,
mobile phones etc.
7. The duration of the exam is 2 hours.
8. Please ensure that all cell phones and any other electronic devices are switched off
9. You must complete the exam on your own and cannot talk to any other student or
Tutor/Supervisor for answers to the questions.
10. Please give your exam paper to the Supervisor when you have finished, and leave the
room.
11. Students found cheating will be asked to hand in the exam booklet and leave the room
immediately. Strict disciplinary action will be taken against students found cheating.
12. Weightage 28% = 26 marks
13. Assessment Grading:
The grades in this programme are determined from the level of achievement in learning
outcomes addressed through assessment points. All assessments are compulsory and
must be attempted in order to pass each paper.
Final Grades for the papers are recorded as:
80 – 100 % A
65 – 79 % B
50 – 64 % C
0 – 49 % D
Did not Complete DNC
Still to Complete STC
Assessment 2 June 2014
Paper Code: 703 Version 1.0
Page 5 of 6
Assessment Part 1
Learning Outcome 4
LEARNING OUTCOME FOUR (15%)
Students will identify Innovation strategies and determine the appropriate circumstances to implement
in an organisation.
Key elements
a) Different types of strategies
b) External routes to Innovation
c) Internal routes to Innovation: Innovation strategies
Answer the following questions (1 to 3) in the form of a word essay (150 to 250 words each
question). Do not just write the theory rather ensure your answers have sound reasoning.
Total Marks for Assessment Part 1 = 13 Marks
1. Explain the impact of Innovation on different types of strategies with suitable examples?
4 Marks
2. What are the different external routes to Innovation? Determine the appropriate
circumstances to implement in an organisation.
4 Marks
3. Compare and contrast the different Innovation strategies (Internal routes to Innovation)
based on their relative merits.
5 Marks
Assessment 2 June 2014
Paper Code: 703 Version 1.0
Page 6 of 6
Assessment Part 2
Learning Outcome 5
LEARNING OUTCOME FIVE (13%)
Students will appreciate and understand the funding requirements associated with Innovation.
Key elements
a) Factors that make Innovation expensive
b) Techniques used by Innovators to reduce and minimise capital requirements
c) Sources of funding available
Answer the following questions (4 to 6) in the form of a word essay (150 to 250 words each
question). Do not just write the theory rather ensure your answers have sound reasoning.
Total Marks for Assessment Part 2 = 13 Marks
4. Evaluate the three factors that make Innovation expensive?
5 Marks
5. Outline the techniques used by Innovators to reduce and minimise capital requirement?
4 Marks
6. Distinguish the different sources of funding available for Innovation?
4 Marks
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