1. Analyse existing market contexts and emerging trends to identify opportunities for targeted innovation and new value propositions

Knowledge and Understanding

Analysis

2. Develop a strategic proposal for a targeted innovation, outlining a novel value proposition, its feasibility, and potential impact within an existing market

Analysis

Application

3. Communicate and defend a proposed value proposition innovation, incorporating consideration of feasibility, impact, and strategic alignment with emerging trends

Communication

Reflection

A 3000-word strategic proposal for a targeted innovation that introduces a new value proposition within an existing industry or sector. This involves identifying a specific context, analysing the current value proposition, leveraging emerging trends and technologies, clearly articulating the innovative value proposition, evaluating its feasibility and potential impact, applying relevant entrepreneurial frameworks, and providing a forward-looking perspective on its implications.

[Assesses all LOs]

This module empowers students to become proactive innovators, equipping them with the skills to identify and leverage emerging trends for targeted innovation within existing markets. The central focus is on developing compelling new value propositions that address evolving customer needs and reshape competitive landscapes.

The module begins by establishing a strong foundation in understanding existing market contexts. Students will analyse industry structures, value chains, customer needs, and competitive dynamics, while simultaneously exploring key technological, social, and environmental trends, including disruptive technologies. Through trend analysis and forecasting, they will learn to identify the forces driving future market shifts.

The core of the module centres on value proposition innovation, utilising established design frameworks and emphasising the integration of sustainability principles. Students will generate novel ideas for targeted innovation, develop new value propositions leveraging emerging trends, and engage in practical prototyping and testing.

The learning culminates in the creation of a strategic proposal outlining the new value proposition, its implementation, target market, and financial considerations. Students will critically evaluate the feasibility and potential impact of their innovations, considering technical, economic, market, and ethical factors. The module concludes with students presenting and defending their innovative proposals.

This module will provide you with an understanding of the fundamentals of company structure, governance, and important legal terminology as well as the principles of investing, financial modelling, and business planning. Through business planning and pitching exercises, you will gain feedback, develop your approaches and identify suitable strategies for your future entrepreneurial ventures.

A diverse range of simulation and experiential learning strategies will be used on this module, and these will include:

Case Study Analysis

Interactive Workshops

Guest Speaker Sessions

Group Projects

Individual Research

Reflective Journals

Prototyping

Feedback Sessions

Scenario Planning

Online Discussions

Digital Tools Integration

This module will include some introductory seminars and key content sessions providing pillars to the learning. These will be accompanied by coaching sessions, interactive workshops, facilitated activities and guest lectures. The module involves 39 hours of tutor led sessions and 161 hours of independent study, to research background information related to the delivery of the core material, to create forecasts, to work on the assessments and to engage in informal teamwork related to this module

Taneja, H. and Maney, K. (2022) Intended Consequences: How to Build Market-Leading Companies with Responsible Innovation. McGraw-Hill.

Blank, S. and Dorf, B. (2020) The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company. Newark: John Wiley & Sons, Incorporated.

Laws, J. (2018) Essentials of Financial Management. Liverpool University Press.

Markovitz, D. (2015) Building the Fit Organization: Six Core Principles for Making Your Company Stronger, Faster, and More Competitive. McGraw-Hill.

Merrin, S. and Adler, C. (2016) The Power of Positive Destruction: How to Turn a Business Idea into a Revolution, The Power of Positive Destruction. Somerset: John Wiley & Sons, Incorporated.

Barrow, C. and Barrow, C. (2008) Practical financial management a guide to budgets, balance sheets and business finance. 7th ed. London: Kogan Page.

Butler, D. (2000) Business Planning: A Guide to Business Start-Up. Jordan Hill: Routledge. doi:10.4324/9780080524580.

Finch, B. (2013) How to Write a Business Plan. London: Kogan Page.

Spedding, L.S. (2009) Due diligence handbook corporate governance, risk management and business planning. Amsterdam: CIMA.

Stutely, R. (2007) The definitive business plan the fast-track to intelligent business planning for executives and entrepreneurs. Rev. 2nd ed. Harlow, England: Financial Times Prentice Hall.

Zehle, S. and Friend, G. (2008) Guide to Business Planning. 2nd ed. London: Economist Books.

In addition to these reference texts, a combination of journal articles, podcasts, TED talks, websites and videos will be used to provide detailed examples and context to the learning.

The University Library and Learning Resources

Westlaw e-library

The module VLE (LMS T & L material)

Selected contemporary problem/practice-based case examples