Innovation Strategy and Business Model Development

Purpose:

The purpose of the module is to provide the student with knowledge and understanding of concepts, theories and methods that can be used to describe, investigate and solve specific problems associated with the organization's innovative activities and, based on this, to provide precise recommendations for the development of the organization's innovation strategy and business model. More specifically, the module provides students with tools and methods for assessing and initiating innovative activities – including an understanding of the importance of managing the change that the innovative activities give rise to. The specific assessment of the innovative activities is based on the organisation's innovation strategy and business model. Furthermore, the purpose of the course is to provide the student with knowledge and understanding of theories and methods that describe the relevance of involving external partners in the innovative activities such as customers and universities. Based on data collected in their own organisation, the student must assess relevant activities and processes that can kick-start new or further develop already ongoing activities and analyse the consequences for the organisation's innovation strategy and business model and provide possible recommendations for its development. Based on a topic of their choice, the student selects and uses relevant methods to identify and solve specific problems in their own organization. The module aims at a high degree of student activity in parallel with theory review.

Content:

• The business model as a theoretical perspective
• The elements and significance of the innovation strategy
• Link of the innovation strategy to the business strategy and business model
• The business model's sub-components
• Value creation in the business model
• Capturing value in the business model
• Differences between innovation strategy and business models in public organisations and private companies
• Innovation of the business model – including the management of the change process that the innovation triggers