This course provides the student with a survey and case studies of successful innovations that have led to new ventures, their components, strategies and financial structure. The course combines entrepreneurial, strategic, marketing, legal, societal and financial themes in support of innovative businesses and products. Students who intend to start up their own businesses and those planning on extending the product lines of established firms will benefit from the material in this class. The course addresses the design of effective strategies given particular technological capabilities and competitive markets; and provides tools for the financial analysis that are essential for obtaining venture capital. The competitive landscape in business has changed dramatically over the past decade. New technologies and marketing channels have pushed competition into realms that are both incredibly complex, and incredibly profitable – more than any time in the past. Rates of return on successful Internet start-ups average over 50%, compared to those of traditional business that average in the range of 15%. Improved profits come with elevated risk – business and technological – that confront investors and managers with new challenges. Even when Internet marketing is successful, it may be difficult to figure out exactly why.
This course provides the student with a survey and case studies of successful new venture models, their components, strategies and financial structure. Students who intend to pursue entrepreneurial ventures, or those who interested in ‘intrapreneurship’ within established firms will benefit from the material in this class. The course addresses the design of effective strategies given particular technological capabilities and competitive markets; and provides tools for the financial analysis that are essential for obtaining venture capital.
The course material builds your skills cumulatively, and in consequence, it will be important for students to keep up with the material. Class participation is graded based on student participation in practicum and profile exercises. Students are expected to be prepared to discuss (i.e., to have read prior to class) all of the assigned material for that particular class. Each of these sets of material will have the following impact on final grade
| Examination | 45% |
| Class Participation | 45% |
| Final Project | 10% |
I hope you find the course enlightening and enjoyable!
Each 2.5 hour class session will cover a particular topic in new venture management and innovation. Please note that Palgrave Macmillan’s galley proof of my 2nd edition of Global Innovation Management is available as a course pack through the UIC bookstore. The physical book is just in the process of distribution, so we did not have access to printed copies at the start of the semester. You also have a very affordable eBook edition of the galley proof at the website Approximately 50% of class time will be allocated to presentation of concepts and key points; the other 50% will be spent on practical analyses to get you to think about the process of building a new business.
| Date | Chapter | Topic |
|---|---|---|
| 08/27/19 | 1 | Globalization, Scale and Speed |
| 09/03/19 | 2 | Components of Innovation |
| 09/10/19 | 3 | Business Models |
| 09/17/19 | 4 | Services |
| 09/24/19 | 5 | Channel Management |
| 10/01/19 | 6 | Entrance Strategy |
| 10/08/19 | 7 | IP, Open-Source and the Sharing Economy |
| 10/15/19 | 8 | Disruptive Innovation and Technology Acceleration |
| 10/22/19 | Midterm | |
| 10/29/19 | Thanksgiving Break | |
| 11/05/19 | 9 | Business Plans and Finance |
| 11/12/19 | 10 | Future Technologies: BioTech, IoT and Medical |
| 11/19/19 | 11 | Managing Creative People |
| 11/26/19 | 12 | Communities, Brands and Social Networks |
| 12/03/19 | Final Presentations |