Entrepreneurship and innovation
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This module will develop your knowledge and understanding of different forms of innovative and entrepreneurial practice around the world and at different scales. It draws on relevant research evidence, theories, concepts and frameworks and addresses the relationship between innovation, entrepreneurship and policy at a conceptual and practical level. You&/courses/qualifications/details/b209/39;ll develop skills in identifying, researching, and pursuing entrepreneurial opportunities to create sustainable business models. These skills include negotiating, influencing, networking and gaining legitimacy in an entrepreneurial setting; creative problem-solving to develop practical solutions; working constructively and ethically on ambiguous, complex and open-ended challenges; displaying resilience; and the capacity to learn, both from direct personal experiences and those of others.
What you will study
This module has five blocks, which will give you a strong foundation in entrepreneurship, including practical skills and specialist knowledge, combined with a broader appreciation of entrepreneurship and innovation in a variety of contexts.
Block 1: Introducing innovation and entrepreneurship
The first block provides you with the essential foundations for studying this module. It is designed to give you an opportunity to start exploring the often surprising world of innovation and entrepreneurship, appreciate the many different types and varieties to be found, and learn some of the core terminology, theories and concepts. You’ll be introduced to real-world examples, including successful and unsuccessful ventures so that you can start making useful connections between research and practice.
Block 2: Developing ideas for opportunities
Block 2 equips you with the essential knowledge and skills to develop innovative ideas and create a viable business opportunity. You’ll become familiar with specialised terminology such as trust, risk, legitimacy, negotiation skills, networking, resource strategies for accessing finance, design thinking, problem-solving and creativity. Additionally, by listening to some entrepreneurs and looking at national and international businesses, you’ll gain insights on establishing new ventures successfully.
Block 3: Context matters
In this block, you&/courses/qualifications/details/b209/39;ll examine how different contextual variables, at micro, meso and macro levels, affect entrepreneurship and innovation. You’ll be introduced to a number of concepts and ideas around different contexts. From working on case studies and real-world examples featuring both successful and unsuccessful ventures you&/courses/qualifications/details/b209/39;ll gain an appreciation of how innovation and entrepreneurship are influenced by a wide variety of contextual factors.
Block 4: New Venture Challenge
Block 4 gives you the ability to develop a business idea and create a viable start-up proposal. You’ll be able to identify and evaluate entrepreneurial opportunities and determine their feasibility. This block promotes collaborative working as you’ll be working in small teams, which enhances your time management, networking and negotiation skills. You’ll work on your own pitch for presenting business ideas. Reflection is one of the key competencies that entrepreneurs should have, and you can develop this competency by reflecting on your learning from various activities in the New Venture Challenge.
Block 5: Reflection and integration
The final block is an opportunity to revisit and reflect on your experiences of learning from across the module to develop a deeper understanding of the topics covered. The activities will help you integrate and make connections between the skills, knowledge, and understanding you developed in earlier parts of the module and how your learning might positively affect your future career. You&/courses/qualifications/details/b209/39;ll learn about the importance of entrepreneurial values and be introduced to various platforms that you can use to develop an entrepreneurial career if you wish to do so. You’ll also receive advice on preparing the end-of-module assessment.
You will learn
On completing this module, you’ll be able to:
- understand the concepts and models that help to explain entrepreneurship and innovation
- describe the wide variety of ways in which people can become entrepreneurial and innovative, creating value for diverse stakeholders
- understand the diverse contexts that underpin entrepreneurial and innovative activities (including entrepreneurial behaviours and characteristics, organisational contexts, industry and technology contexts, geography, policy and institutional contexts)
- understand the principles and practical aspects of setting up (socially and environmentally responsible) innovative enterprises and/or developing new products for existing organisations that meet the SDGs
- describe the different ways of promoting entrepreneurship and innovation.
More broadly, you’ll develop essential entrepreneurial competencies and employability skills, including creativity, communication, negotiation, collaboration, networking, team building, initiative, self-management, resilience, and sectoral awareness. You&/courses/qualifications/details/b209/39;ll also develop numeracy skills and digital literacy.
Entry requirements
This is an OU level 2 module. If you have no previous experience of studying business, it is strongly recommended that you first study An introduction to business management (B100).
What's included
You’ll have access to a module website, which includes:
- a week-by-week study planner
- online module materials and activities
- study guide
- multimedia content, including videos and animations
- assessment guide
- online tutorials and forums.
You will also receive a module reader that includes an extended exposition and explanation of innovation and entrepreneurship concepts, as well as case-based illustrations.
Your learning will be further supported by:
- OpenStudio – a creative, collaborative space for you to work as if you are physically in a design studio, sharing work with tutors and other students, getting feedback, and commenting on the work of others.
- NEO – a software tool to facilitate peer-to-peer engagement in simulated negotiation activities.
Computing requirements
- Primary device – A desktop or laptop computer. It’s possible to access some materials on a mobile phone, tablet or Chromebook; however, they may not be suitable as your primary device.
- Peripheral device – Headphones/earphones with a built-in microphone for online tutorials.
- Our OU Study app operates on supported versions of Android and iOS.
- Operating systems – Windows 10 or 11 or macOS Ventura (or higher).
- Internet access – Broadband or mobile connection.
- Browser – Google Chrome and Microsoft Edge are recommended; Mozilla Firefox and Safari may be suitable.