In one of the most challenging business climates of modern times, innovation is the key to sparking new opportunities. Core proficiencies such as data analysis, operations, and ecommerce, as well as softer skills like leadership and problem solving, are essential. But more than that, what we truly need is a whole new way of thinking about innovation in business.
Through its online Entrepreneurship Management and Innovation Master's course, the University of Bath aims to nurture a fundamental understanding of business, as well as the pioneering mindset needed to enable students to become agents of change and drive strategic innovation.
What role does innovation play in business?
Innovation helps entrepreneurs gain a competitive advantage by increasing operational efficiency, promoting brand reputation, attracting talent, and opening the door to new market opportunities.
By extracting principles of innovation from case studies and business models, the course encourages students to develop their own unique ways of thinking, giving them the confidence to expand their own business, kick-start a new enterprise, or make a greater positive social or commercial impact.
“You are not going to be told exactly, in whatever situation you might be facing, this is the thing to do. This course is about enabling you to forge your own path forward. Situations we face are different, the challenges are different, so it's very naive to think there is a single recipe that we apply to all.”
-Professor Dimo Dimov, course lecturer and one of the top 100 entrepreneurship professors worldwide.
Strategic innovation within layers of entrepreneurship
The key to any successful journey is preparation. This is why the course begins by building an understanding of the fundamental elements of business—such as strategy, finance, and people management—and more importantly, how these elements are all interconnected in driving innovative management solutions.
The subsequent layer of study explores conception through large-scale development, helping to nurture innovative thinking through subjects such as incubation and acceleration.
Next, students navigate the social, situational, and organisational challenges faced when implementing an idea in the real world. This enables students to leave the course with the ability to apply their ideas in a genuine business setting.
Finally, to wrap the course up, students are asked to complete a project. This is an opportunity to turn their best idea into a viable business model, drawing on knowledge and theories from their work throughout the course.
“This programme is designed in a way that allows you to reflect on your own abilities and experiences and think of them as marketable assets around which you can build a company. So, going through the course, you will be equipped with different frameworks and processes that will help you initiate your own entrepreneurial journey.”
-Dr Stoyan Stoyanov
The course units provide the following learning outcomes:
- Understand the principles of innovation management
- Explore the entrepreneurial journey from idea to venture
- Creatively consider contemporary business issues
- Develop the art of pitching winning propositions
- Unlock the power of persuasion to garner support for ideas
- Integrate data to inform your business decisions
- Evaluate risk and adapt to challenging environments
Inspiration for the real world
Drawing on insights from the University of Bath’s business connections, including a partnership with the world’s leading business incubator, SETsquared, the course features a range of frameworks and models which can be applied in a student’s own business project. This extends beyond commercial business. By studying the establishment of businesses that benefit society, students are encouraged to think about how they can make a greater social impact through entrepreneurship and strategic innovation.
With regular opportunities to experiment and collaborate with peers from around the world, the course offers students further opportunities to expand their practical experience, not to mention grow their networks.
It’s these experiences that prepare students for a host of complex business challenges, paving the way for a variety of successful careers. Students who completed the course have gone into banking, human resources, IT, marketing, operations, and general management. Since the course is 100% online, students do not have to give up their current professional commitments to follow their career goals.
Master entrepreneurship and innovation
To master the techniques of entrepreneurship and achieve success, it's crucial that students see graduating not as the end, but rather the beginning of something bigger. Because when you think like an entrepreneur and embrace the meaning of innovation, there is no end to the possibilities for the future.
View current entrepreneurship statistics at the University of Bath and start your journey to becoming an entrepreneur. Request information for the University of Bath’s Entrepreneurship Management and Innovation online MSc today.