Innovation, Entrepreneurship and Design Module

Innovation, Entrepreneurship and Design Module (IED)

This module provides you with a practical opportunity to apply and integrate what you’ve learnt in Year 1 and enables you to think more strategically when faced with the challenges of bringing new ideas to market.

IED is an exciting and challenging module where the knowledge and skills you gain are highly transferable to whatever career you pursue.

Alongside a series of lectures on the topics of innovation, design and entrepreneurship, you will take part in a unique business simulation where you will analyse the innovative needs of a large multinational and develop a business case for the company to grow.

This business case is as relevant to someone exploring innovation within an organisation as it is if you are planning to start your own business.

During this two-week project at the start of your second year, you will work on campus in groups of students with complementary skills and experience.

Highly transferable knowledge and skills

The module breaks down the entrepreneurial journey into four stages, which you will explore with the help of the IED Toolbox, a comprehensive online resource of articles, web links, slides, videos and more. You’ll also receive coaching sessions provided by a professional team of coaches and academics throughout the module.

The IED module is an exciting and challenging project where the knowledge and skills you gain are highly transferable to whatever career you pursue.

Knowledge

You will understand:

  • The process of preparing a start-up
  • The concept of a commercial feasibility study
  • Market research and industry analysis
  • The difference between a business model and business plan
  • The difference between entrepreneurial thinking and doing
  • The importance of user-centric design in communicating with customers
  • The importance of a strategy to innovate

Skills

You will develop:

  • Communication skills in a multi-disciplinary team under time pressure
  • The practical skills needed to assess commercial potential of new products or research under development
  • Collaboration skills to work in interdisciplinary groups
  • The strategic thinking required to effectively address the challenges of introducing new products to market
  • The skills necessary to build a strong client-consultant relationship and deliver value through the project to the client

Learning Outcomes

By the end of the module, you will be able to:

  • Perform in a multi-disciplinary team under time pressure
  • Adopt a structured approach to market research and industry analysis
  • Think strategically when faced with the challenges of introducing new products to market
  • Evaluate the commercial potential of an idea
  • Prepare a business case in a multinational environment
  • Report, present and defend recommendations to an expert panel

I was running a start-up, a real life MBA if you will, but I needed more – something different, something unique that would give me the edge. Imperial College fit the bill with its strong research, innovation and entrepreneurship focus.
Nationality: South African

Khilona RadiaGlobal Online MBA: Class of 2016-18