Established corporations face fundamentally different innovation challenges compared to new or young small firms. The routinization of practices, obsolescence of such routines and dominant logic that may be misaligned with changes in the environment subject established firms to great difficulties in innovating. Further, revenue cannibalization with existing products and the politics of allocating scarce resources away from established, competing product divisions afflict how new ventures are created within corporations. These issues have few parallels in new, small firms. In view of typically bureaucratic hierarchies in established corporations, it is important for students to understand how to design and manage innovation systems for such entities, as well as how to lead corporate entrepreneurship.
By the end of this SMU-X course which places an emphasis on experiential project-based learning, students will be able to:
- Describe the institutional set-up and the organization existing ways to encourage entrepreneurship and innovation practices
- Analyze gaps and suggest management practices, systems or processes that could augment entrepreneurship and innovation within the existing organization
- Make sound decisions while managing complex situations by evaluating management challenges to entrepreneurship and innovation; and think creatively to design possible solutions
- Adapt to new or unfamiliar environments, exercise leadership, whilst working collaboratively and productively as a team.
