Aeronautical Engineering with a Year Abroad (MEng)
This module demonstrates that new technologies are vital but no longer enough to sustain and grow business. The pace of new technology development and globalisation requires new ideas, new processes and new business models. The aim of this module is to give students key principles of innovation management from knowledge co-creation to developing sustainable business models. The course will focus on open innovation practices, business models, user-inspired innovation and developing innovation culture, networks and creativity in order to succeed.
On successfully completing this module, you should be able to: 1. describe and summarise the differences between current and past research & development (R&D) trends; 2. describe and summarise the open innovation concept and summarise types and channels of open innovation; 3. describe and summarise strategic approaches for sustainable innovation; 4. describe and summarise IP management strategies; 5. describe and summarise business models behind successful companies; 6. analyse and select ideas using creative thinking techniques AHEP Learning Outcomes: SM9M, EL9M, EL10M, EL12M, EL13M, P11m, G3m
Introducing innovation (disruptive innovation; the Innovator's dilemma; knowledge as a source of competitive advantage; technology S-Curve and market diffusion S-Curve). Open innovation: context, concept, trends (types of open innovation; innovation ecosystems; innovation intermediaries, e.g. InnoCentive, NineSigma, Big Idea Group, Ocean Tomo). Innovation strategy (innovation strategies; blue ocean strategy; open services innovation; innovation value chain). Organising for innovation (innovation enablers; management innovation; building an innovation culture; design-driven innovation; systems approach; innovation metrics). Business model innovation (developing business models; business model canvas; open business models). Executing innovation (innovation management; corporate venturing; technology start-ups; marketing innovation a power of co-creation). Protecting and exploiting innovation (types of IP; IP strategies; IP-based business models). Sustaining innovation creative thinking techniques (generating new business ideas; creative thinking techniques, e.g. brainstorming, morphological analysis, Osborn's list). Sustaining innovation leadership (vigilant leaders; innovator's DNA). Innovation in aeronautics (biologically inspired technologies; examples of innovation technologies and business models in aeronautics).
The module will be delivered primarily through large-class lectures introducing the key concepts and methods, supported by a variety of delivery methods combining the traditional and the technological. The content is presented via a combination of slides, videos, whiteboard and visualizer. Learning will be supported with group discussions, collaborative exercises, case studies and guest speakers from industry.
This module presents opportunities both for formative and summative assessment.
You will be formatively assessed through group presentations (10% of total mark) on a topic relevant to the content of the modules.
Summative Assessment takes the form of a written closed-book exam at the end of the module (90% of total mark).
|Assessment type||Assessment description||Weighting||Pass mark|
|Examination||Closed-book written examination||90%||50%|
|Group presentation||A prepared 5-min group presentation on a given topic||10%||50%|
You will receive immediate oral feedback on their group presentations and the group mark published on Blackboard.