(for an overview of the entire first year see the Year 2 overview page)
The module wants to give theoretical insight into questions like: How can organizations manage their innovation processes?, How do entrepreneurs start their business after they got a great business idea? and What are professional ethics with regard to deploying new and emergent technology to improve quality of life? How can you anticipate the impact a technology may have on user well-being and the public good? Moreover the module will introduce game theory as a mathematical basis for strategic thinking.
At a practical level the student is challenged to explore (in a team) the commercialization of a technology that is chosen by the team itself.
Thematic components in Module 7
During three days, student teams are challenged to develop and maintain a business strategy, dealing with threats and opportunities the environment offers. This is the start activity of the module. The purpose is to become acquainted with terminology, concepts and issues in a practical setting, before they are introduced in the theoretical context of the Innovation and entrepreneurship component
Throughout the module students have two sessions (lecture and tutorial) about the mathematical foundations for strategic decision making. The mathematics involved is game theory.
To prove their strategic thinking skills (and their insight in game theory) students participate in a Google Ad Auction (or a similar auctioning setup).
Throughout the module students have afternoon sessions (partly lectures, partly discussion sessions) devoted to ethics and professional responsibility. Issues addressed are: ethical theory (the toolbox for reasoning about ethical issues), philosophy and psychology of creativity, behaviour steering, privacy, property rights, ethics of games and virtual worlds, and user well-being.
Innovation and Entrepreneurship
Throughout the module students get lectures about the theory of innovation management and innovation performance, including the introduction of innovation and entrepreneurship models.
Bring ideas to the market
Students form groups and create a business idea, analyze its feasibility and identify conditions under which the idea is likely to produce revenues (which means in particular that they know which data are needed to underpin a realistic expectation of consumer needs, consumer markets, investments and resources, and that they can produce these data)