innovation, sustainability and entrepreneurship

Combining the strengths of UMIST andThe Victoria University of Manchester

Innovation, Sustainability and Entrepreneurship

Dr. Paul Dewick

Manchester Institute of Innovation Research

Tel: 306 3431 (3435), Room 5.13 MBS-HH

paul.dewick@mbs.ac.uk

Combining the strengths of UMIST andThe Victoria University of Manchester

What do you think are the three most important

technologies of the last seventeen years and why?

Aims for this session….to:1.introduce you to the ISE specialism

2.outline course options

3.answer any questions you may have

Combining the strengths of UMIST andThe Victoria University of Manchester

Patently Absurd

Innovation = Invention + Commercialisation

Patently True

Cooper (2004) Patently Absurd: The Most Ridiculous Devices Ever Invented, Robson

Combining the strengths of UMIST andThe Victoria University of Manchester

Entrepreneurship: the skill to spot opportunities and

create new ways to exploit them

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

What do you think have been the most successful innovations over the last

twenty years?

Combining the strengths of UMIST andThe Victoria University of Manchester

Internet

I thought you’d say:

ComputersTelecommunications (mobile phones)

Medicine (pharmaceuticals)

I thought you might say:Green technology (energy)

Combining the strengths of UMIST andThe Victoria University of Manchester

Most innovative companies 2012

http://www.bcg.com/expertise_impact/Capabilities/Innovation/PublicationDetails.aspx?id=tcm:12-125226&mid=tcm:12-125225

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

Strategic advantage

Size and financial assets are important but the advantage is with innovative companies…

Combining the strengths of UMIST andThe Victoria University of Manchester

Successful innovators….

Combining the strengths of UMIST andThe Victoria University of Manchester

Strategic advantage

From Tidd and Bessant (2005), Managing Innovation, Wiley

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)

Combining the strengths of UMIST andThe Victoria University of Manchester

The innovation process?

Combining the strengths of UMIST andThe Victoria University of Manchester

The innovation process

+ Human resource management

+ Finance

Management of the process is crucial

Combining the strengths of UMIST andThe Victoria University of Manchester

ISE specialism modules focus on the management

challenge of innovation

Combining the strengths of UMIST andThe Victoria University of Manchester

Year 2 ISE optionsBMAN24001 Fundamentals of Managing Innovation and Enabling Creativity (10)

BMAN20481 Innovation in Product Markets (10)

MCEL20032 Business Intrapreneurship Skills (10)

Combining the strengths of UMIST andThe Victoria University of Manchester

Year 3 ISE optionsBMAN31500 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)

Combining the strengths of UMIST andThe Victoria University of Manchester

SustainabilityLatin 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

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

What has sustainability got to do with business?

Combining the strengths of UMIST andThe Victoria University of Manchester

Demand side sustainability concerns

3bn new middle class consumers by 2030….

Combining the strengths of UMIST andThe Victoria University of Manchester

Demand side sustainability concerns

….50% of consumers will do “everything they can to protect the environment”….

Combining the strengths of UMIST andThe Victoria University of Manchester

Supply side sustainability concerns

….water supply will not keep up with demand….

Combining the strengths of UMIST andThe Victoria University of Manchester

Supply side sustainability concerns

….commodity price volatility is creating uncertainty and limiting growth….

Combining the strengths of UMIST andThe Victoria University of Manchester

….GDP growth, resource extraction and environmental impact continue to be linked….

Institutional sustainability concerns

Combining the strengths of UMIST andThe Victoria University of Manchester

….with limited growth in environmental innovation.

Institutional sustainability concerns

Combining the strengths of UMIST andThe Victoria University of Manchester

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.

Combining the strengths of UMIST andThe Victoria University of Manchester

Successful sustainable innovators

Don’t take my word for it…

http://www.sustainability-indices.com/

Combining the strengths of UMIST andThe Victoria University of Manchester

“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

Combining the strengths of UMIST andThe Victoria University of Manchester

ISE specialism modules focus on the

management challenge of sustainability

Combining the strengths of UMIST andThe Victoria University of Manchester

Year 2 ISE optionsBMAN20310 Environmental Management for

Sustainable Development (20)

BMAN20932 Sustainable Innovation Management (10)

Combining the strengths of UMIST andThe Victoria University of Manchester

Year 3 ISE optionsBMAN31500 Innovation, Sustainability and

Entrepreneurship Dissertation (30)

MCEL33321 Cases in Sustainable Development (10)

BMAN31420 Global Management, People & the Digital Divide (20)

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

• 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)

Combining the strengths of UMIST andThe Victoria University of Manchester

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 clarity and imagination to conceive that it could be different.”

Roberto Unger

Combining the strengths of UMIST andThe Victoria University of Manchester

Combining the strengths of UMIST andThe Victoria University of Manchester

Or later, contact:

paul.dewick@mbs.ac.uk

306 3431

MBS HH 5.13