Innovation, Sustainability and Entrepreneurship Dr. Paul Dewick Manchester Institute of Innovation Research Tel: 306 3431 (3435), Room 5.13 MBS-HH email@example.com
Aims for this session….to: • introduce you to the ISE specialism • outline course options • answer any questions you may have What do you think are the three most important technologies of the last seventeen years and why?
Patently Absurd Patently True Innovation = Invention + Commercialisation Cooper (2004) Patently Absurd: The Most Ridiculous Devices Ever Invented, Robson
Entrepreneurship: the skill to spot opportunities and create new ways to exploit them
What do you think have been the most successful innovations over the last twenty years?
Internet I thought you’d say: Computers Telecommunications (mobile phones) I thought you might say: Green technology (energy) Medicine (pharmaceuticals)
Most innovative companies 2012 http://www.bcg.com/expertise_impact/Capabilities/Innovation/PublicationDetails.aspx?id=tcm:12-125226&mid=tcm:12-125225
Strategic advantage Size and financial assets are important but the advantage is with innovative companies…
Strategic advantage • By offering something, for example,…. • ….no-one else can (new products) • ….in ways no others can (new processes) • ….which others find difficult to master (complexity) • ….others cannot unless they pay for a license (IP) • ….that shifts the nature of competition (from price to quality, choice, etc) From Tidd and Bessant (2005), Managing Innovation, Wiley
The innovation process + Human resource management + Finance Management of the process is crucial
Year 2 ISE options BMAN24001 Fundamentals of Managing Innovation and Enabling Creativity (10) BMAN20481 Innovation in Product Markets (10) MCEL20032 Business Intrapreneurship Skills (10)
Year 3 ISE options BMAN31500 Innovation, Sustainability and Entrepreneurship Dissertation (30) BMAN31111 Entrepreneurship & Small Business Development (10) BMAN31360 International Competitiveness & Innovation (20) BMAN31731 Behavioural Strategy (10) BMAN31550 Leadership & Success at Work (20) BMAN31372 Managing New Product Development (10)
Sustainability • Latin root of the word: sustinere • ‘sus’ means up • ‘tinere’ (like tenure), means to hold Thus to sustain something is to hold it up, to support or prolong it
Demand side sustainability concerns 3bn new middle class consumers by 2030….
Demand side sustainability concerns ….50% of consumers will do “everything they can to protect the environment”….
Supply side sustainability concerns ….water supply will not keep up with demand….
Supply side sustainability concerns ….commodity price volatility is creating uncertainty and limiting growth….
Institutional sustainability concerns ….GDP growth, resource extraction and environmental impact continue to be linked….
Institutional sustainability concerns ….with limited growth in environmental innovation.
Sustainable innovation • New/modified products, services, processes, forms of organization, business models • …that add value…. • ….and reduce/avoid environmental impacts…. • ….and/or improve quality of life.
Don’t take my word for it… http://www.sustainability-indices.com/ Successful sustainable innovators
“Making your business sustainable in today’s world is an absolute imperative. The business case for sustainable growth is clearer than ever and the urgency of the issues we face means that business leaders have no choice but to act.” Paul Polman, Chief Executive Officer, Unilever, 2012
ISE specialism modules focus on the management challenge of sustainability
Year 2 ISE options BMAN20310 Environmental Management for Sustainable Development (20) BMAN20932 Sustainable Innovation Management (10)
Year 3 ISE options BMAN31500 Innovation, Sustainability and Entrepreneurship Dissertation (30) MCEL33321 Cases in Sustainable Development (10) BMAN31420 Global Management, People & the Digital Divide (20)
Understand the need for change to a sustainable way of doing things, individually and collectively; • Have sufficient knowledge and skills to decide and act in a way that favours sustainable development; and • Recognise and (when you’re in business) reward other people’s decisions and actions that favour sustainable development • ‘Sustainability literacy’ (Parkin, 2005)
Key take-home messages Never been a more important time to be a student of innovation, sustainability & entrepreneurship Management of innovation and sustainability and entrepreneurship is crucial Ultimately...“at every level the greatest obstacle to transforming the world is that we lack the clarityandimagination to conceive that it could be different.” Roberto Unger
Or later, contact: firstname.lastname@example.org 306 3431 MBS HH 5.13