Unit Outline

Topics: Innovation, Management, Innovation economics Pages: 15 (4391 words) Published: June 22, 2013
Curtin Business School School of Management

Unit Outline 304421 Management of Innovation 301 Semester 1, 2013 Unit study package number: Mode of study: Tuition pattern summary: Credit Value: Pre-requisite units: Co-requisite units: Anti-requisite units: Result type: Approved incidental fees: Unit coordinator: 304421 Internal Seminar: 1 x 3 Hours Weekly This unit does not have a fieldwork component. 25.0 Nil Nil Nil Grade/Mark Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details. Name: Phone: Email: Building: Room: Name: Phone: Email: Building: Name: Phone: Email: Building: Room: Louis Geneste +618 9266 7987 Louis.Geneste@cbs.curtin.edu.au 408 3011 Adriel Sim TBA adriel.sim@curtin.edu.my TBA Tonia Geneste +618 9266 7292 T.Geneste@curtin.edu.au 408 3009

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304421 Management of Innovation 301 Miri Sarawak Campus 25 Feb 2013 School of Management, Curtin Business School

Page: 1 of 10 CRICOS Provider Code WA 00301J, NSW 02637B

Curtin Business School School of Management

Acknowledgement of Country
We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present.

This unit focuses on the management of innovation. The fundamental ideas underlying this unit are that (1) innovation is the driving force in establishing a firm’s competitive advantage, (2) innovation is managed by leaders and teams with multiple competencies, and (3) a firm’s innovation strategy emerges from its competencies and capabilities. These fundamentals are then applied to new venture creation through first hand interaction with innovative entrepreneurs developing new innovations and technologies from the business community as well as university developed inventions with intent to commercialise their Intellectual Property. This allows the real world of the innovative entrepreneur to reinforce and sometimes challenge accepted theories of innovation and entrepreneurship.

Innovation is a term often associated with newness, e.g. new product development, new market creation, new process design. Unfortunately, when used in this context, innovation tends to be viewed as a single event. This is a misunderstanding and the word innovation ends up misused. Instead, innovation should be regarded as a process, involving multiple activities, cross-functional and interdisciplinary teams. Innovation involves the utilisation of internal and external resources and often leads to the formation of interfirm relationships and networks. Innovation is often regarded as the engine of economic growth and what helps firms survive and grow while others wither and die. The famous Austrian economist, Joseph Schumpeter, attributed innovation as the reason why we were better off than our parents and regarded it as the prime driver of economic progress. Since innovation is a process, it needs to be managed. However, the management of innovation can be a complex and time-consuming endeavour with no guarantees of success. It is therefore critical that the study of innovation management adopts a holistic approach encompassing a range of issues including intellectual property protection, managing organisational knowledge, interfirm collaboration and networks to name a few. This is what we aim to achieve this semester, a broad and holistic understanding of the process of innovation management. Welcome to Management of Innovation 301!

Learning Outcomes
On successful completion of this unit students can: 1 Discuss the range, scope and complexity of the phenomena, issues and problems related to managing creativity and innovation 2 Critically analyse and differentiate the distinctive competencies used to develop a competitive advantage 3 Explain and discuss processes of managing innovation 4 Solve strategic management problems related to innovation 5 Create an imaginative...
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