NG4S906 - Product Innovation and Entrepreneurship 01 Jul 2022 - 31 Aug 2028 | Version 3
Associated Module Information
| Module Code: | NG4S906 | ||
|---|---|---|---|
| Module Title: | Product Innovation and Entrepreneurship | ||
| Faculty: | Faculty of Computing, Engineering and Science | ||
| Faculty Group: | Information and Electronics | ||
| Faculty Sub Group: | Electronics | ||
| Module Leader: | Ali Roula | ||
| Module Team: | Sivagunalan Sivanathan, Kang Li, Alexandre Oleon, Hammad Nazir | ||
| First Intended Intake: | SEP 2015 | Final Year of Intake: | 2027 |
| Date Closed: | |||
| Credit Value: | 20 | Credit Level: | 7 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100163 - electrical and electronic engineering | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 3 |
|---|---|
| Valid From | 01 Jul 2022 |
| Valid To | 31 Aug 2028 |
Module Aims
The aim of this module is to equip engineers and scientists with the skills involved in bringing innovative high-tech products to commercial success by taking students through the product life cycle steps from the initial research and innovation, to managing the technical aspects of design and production and finally providing students with the tools necessary for entrepreneurial and commercial success. The knowledge gained will be used in the integration of the various areas of expertise acquired in other parts of the MSc scheme through the use of multi-disciplinary case studies and assignments.
Content Summary
Product innovation and adoption models:
• Importance of research and development in competitive technology sectors.
• Innovations models: phase gate model, open vs closed, individual vs organisational, technology push vs market pull, user innovation, evolutionary innovation, disruptive innovation.
• Intellectual property, its protection, licensing and strategies.
• The product life cycle and its environmental and societal impact. Product diffusion models, BASS model analysis.
Product Management:
• Defining product specifications. Quality Function development for translating customer requirements into final products.
• Product investment Appraisal: Net Present Value, Accounting Rate of Return, payback period, Product Portfolio management: Expected Commercial Value analysis.
• Make and buy decisions - Subcontracting decisions and vendor assessment.
• Overview of contracts, copyright and patent laws.
• Design constraints, product environmental footprint, eco-design, regulatory constraints, WEEE and EuP directives, EU’s Integrated Product Policy.
• Benchmarking - establishing and updating development targets to reflect external trends.
• Agile Project management in technology product development: Introduction to SCRUM, sprints, burndown charts.
• Project organisation and leadership. Cross-functional integration and concurrent engineering management approaches. Product cost reduction methods and value engineering.
• Design Controls: Design and contract review, Configuration control, IS09000 requirements and implications, The management of computer integrated development systems.
Entrepreneurship:
• The role of the entrepreneur and entrepreneurial team in high-tech ventures.
• Evaluation of the market viability of new technology-based venture ideas and market definition; Strategies for high-tech product positioning, marketing and operations; resources(e.g., people, financing etc.) required for starting up and operation of a new venture and how to acquire them.
• What financiers seek in high-tech business proposals, Development and Presentation of a high-tech proposal.
• Operational and capacity issues of start-up and development of a technology based venture, choosing an Exit Strategy.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Lecture | 48 |
| Independent Study | 86 |
| Directed Study | 42 |
| Problem / challenge based learning | 24 |
| Total Hours Selected | 200 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Apply high-level management skills necessary to support the design, manufacture and marketing of technologically innovative products while abiding by the legal, socio-environmental and regulatory constraints. |
| LO2 | Acquire and synthesise knowledge and expertise in entrepreneurial and management processes to identifying, developing and marketing new products. |
| LO3 | Function effectively as a member or leader of an innovative team and evaluate effectiveness of own and team performance. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Onsite Oral Assessment | Presentation (Synchronous Onsite) 1 | Presentation of a business proposal including business plan, market research, socio-environmental impact and investment pitch. | 15 | N/A | 50 | No | 50 |
| Asynchronous Assessment | Case study 1 | A concentrated inquiry into a particular business innovation problem. | 0 | 2000 | 50 | No | 50 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | LO3 | |
| Presentation (Synchronous Onsite) 1 | ✘ | ✔ | ✔ |
| Case study 1 | ✔ | ✔ | ✘ |