In addition to the classical lecture approach, case study analyses and the implementation of a business simulation are used.

This course teaches the relevant elements of strategic business management. It covers various areas of business administration (e.g. strategic management and aspects of marketing). Upon completion of the course, students should understand different perspectives on the topics and know in which situations which tools can be used and what the limitations of these models/concepts are. Students will be able to integrate future strategy and business model concepts into the taxonomy of approaches.
The course thus provides an introduction to the most important principles and concepts necessary to understand how companies operate in today's business world. This includes the analysis of an extremely dynamic, increasingly globalizing competitive environment as well as the analysis of the required internal (core) competencies. It also aims to develop analytical skills that facilitate problem-solving and strategic decision-making activities in companies. 

In addition to the classical lecture approach, case study analyses and the execution of a business simulation are used.

Johnson et al.: Strategisches Management - Eine Einführung: Analyse, Entscheidung und Umsetzung, Pearson Studium, 12. Auflage

Michael E. Porter: Wettbewerbsstrategie: Methoden zur Analyse von Branchen und Konkurrenten, Campus Verlag, 12. Auflage

Prahalad, C.K./ Hamel, G.: The Core Competence of the Corporation, in: Business Review, 68/3 1990

Kim, W.C./ Mauborgne, R.: Blue Ocean Strategy, in: Harvard Business Review, October 2004

This course covers the basics of international management. Among other things, students learn about various forms of market selection and market entry strategies as well as methods for determining the optimal time to enter foreign markets. 

In addition to the classical lecture approach, case study analyses and the execution of a business simulation are used.

Mindfulness defines a situation, in which a person is mentally present without being distracted from thoughts or emotions. These are neither analyzed nor judged. Mindfulness is an important element of the Buddhist tradition and is taught through mindfulness-based stress reduction (MBSR)-trainings, Yoga, and meditation approaches in western culture. Until today, effects of mindfulness are tested and studied in medical and psychological clinical contexts. However, nowadays it is also part of the new work trend and enters the business context. During the seminar different mindfulness practices are presented, practiced and their effects on creativity, innovation, and entrepreneurship are discussed.

Csiksdentmihalyi, M. (1990). Flow. The Psychology of Optimal Experience. HarperCollins.

Williams, M., Penman, D. (2011). Mediation im Alltag. Gelassenheit finden in einer hektischen Welt. Arkana.

Murnieks, C. Y. et al. (In Press). Close your eyes or open your mind: Effects of sleep and mindfulness exercises on entrepreneurs' exhaustion. Journal of Business Venturing.

Byrne, E. K., Thatchenkery, T. (2018). How to Use Mindfulness to Increase Your Team's Creativity. Harvard Business Review.

Memmert, D. (2007). Can Creativity Be Improved by an Attention-Broadening Training Program? An Exploratory Study Focusing on Team Sports. Creativity Research Journal 19 (2-3), S. 281-291.

Den Heijer, P. et al. (2017). Don’t Forget to Breathe: A Controlled Trial of Mindfulness Practices in Agile Project Teams. Working Paper.

Globalization of business processes and the revolution in information and communication technologies (ICT) have resulted in distributed workflows across geographic boundaries. These developments as well as increased immigration emanating, for example, as a consequence of a shortage of skilled labour in many industrialized nations, have led to the creation of (virtual) multi-cultural, multi-ethnic teams with diverse cultural backgrounds. Such diversity generally has a positive impact on creativity and innovativeness, as many empirical studies confirm. Nevertheless, varying cultural practices, communication styles, and contextual sensibilities have the potential to disturb or even disrupt collaborative work processes, if left unmanaged.

This course focuses on inter-cultural management from both, theoretical as well as practical, points of view to provide a solid fundament to students enabling them to operate successfully in cross-cultural settings. Case studies and guest lecture(s) will be used to provide added practical relevance to the course. In addition, where practicable, student assignments will be used to foster autonomous learning.

Some of the main topics covered in this course include:

• Understanding “culture” and its impact on human interaction
• Verbal and non-verbal communication
• High and low context communication
• Role of formality and non-formality in communication
• Varying interpretations of symbols, rituals & gestures
• Managing diversity in domestic settings

• Bartlett, C.A. / Ghoshal, S. (2002): Managing Across Borders: The Transnational Solution, 2^nd edition, Boston
• Deresky, H. (2006): International Management: Managing Across Borders and Cultures, 3^rd edition, Upper Saddle  River
• French, R. (2010): Cross-cultural Management in Work Organisations, 2^nd edition, London
• Hofstede, G. (2003): Culture's Consequences : Comparing Values, Behaviors, Institutions and Organizations across Nations, 2^nd edition, Thousand Oaks
• Hofstede, G. / Hofstede, G.J. (2006): Cultures and Organizations: Software of the mind, 2^nd edition, New York

The purpose of this course is to equip students with important communication skills to successfully navigate the dynamic world of professionals dealing with innovation. Students will explore the field of communication by getting in touch with different communication models, like the Schramm model of communication. Successfully communicating complex ideas in a simple, yet engaging way is key to bring about change in organizations. Here, proficiency with tools like PowerPoint is crucial to create compelling visual support. Also, future change makers need to bring together perspectives in multidisciplinary and increasingly intercultural teams. Being able to give and receive feedback in a constructive way is equally important. Communication will be discussed in these different facets in an interactive format and a focus on practical application.

Kratzer, J., Leenders, O. T. A., & Engelen, J. M. V. (2004). Stimulating the potential: Creative performance and communication in innovation teams. Creativity and Innovation Management, 13(1), 63-71.

Hoegl, M., & Gemuenden, H. G. (2001). Teamwork quality and the success of innovative projects: A theoretical concept and empirical evidence. Organization science, 12(4), 435-449.

Schram, W. E. (1954). The process and effects of mass communication.

Thach, E. C. (2002). The impact of executive coaching and 360 feedback on leadership effectiveness. Leadership & Organization Development Journal, 23(4), 205-214.

Löwgren, J., & Stolterman, E. (2004). Thoughtful interaction design: A design perspective on information technology. MIT Press.

Entrepreneurial finance is at the center of a clash of two very distant worlds: that of entrepreneurship and that of finance. Finance is disciplined, based on numbers and logical thinking and looking for proven track records. Entrepreneurship is messy, based on intuition and experimentation and treading off the beaten track. Entrepreneurial finance is the provision of funding to young, innovative, growth-oriented companies. Entrepreneurial companies are young, typically less than ten years old, and introduce innovative products or business models. The younger are called “startups,” and are typically less than five years old.

There is a variety of investors who can finance entrepreneurial companies: family and friends, business angels, accelerators and incubators, crowdfunding platforms, venture capital firms, corporate investors, etc. The course provides a thorough understanding of what motivates them, of the way they invest, and of what support they can provide to a company at what stage in the fundraising cycle. The course addresses the following key questions: How much money can and should be raised? When should it be raised and from whom? What is a reasonable valuation of the company? How should funding, employment contracts and exit decisions be structured?

Thus, the course provides an understanding of the whole fundraising cycle, from the moment the entrepreneur conceived her idea to the moment investors exit the company and move on. We examine the entrepreneur's signalling to investors of the qualities of the venture, the investors' evaluation of the venture, the various dimensions of contracting (cash flow rights, control rights, compensation, and other clauses), the negotiation of a deal and the provision of corporate governance, the process of staged financing, the financing through debt, and the exit process though liquidity events such as initial public offering, sale or merger.

The following topics will be covered with specific case studies:

1. Introduction: Evaluating Venture Opportunities

2. Financial Planning

3. Ownership and Returns

4. Valuation Methods

5. Term Sheets

6. Structuring Deals

7. Corporate Governance

8. Staged Financing

9. Debt Financing

10. Exits

11. Early Stage & Venture Capital Investors

12. Ecosystems

Da Rin, Marco, and Thomas Hellmann. Fundamentals of Entrepreneurial Finance. Oxford University Press, 2020.

Entrepreneurial finance is at the center of a clash of two very distant worlds: that of entrepreneurship and that of finance. Finance is disciplined, based on numbers and logical thinking and looking for proven track records. Entrepreneurship is messy, based on intuition and experimentation and treading off the beaten track. Entrepreneurial finance is the provision of funding to young, innovative, growth-oriented companies. Entrepreneurial companies are young, typically less than ten years old, and introduce innovative products or business models. The younger are called “startups,” and are typically less than five years old.

There is a variety of investors who can finance entrepreneurial companies: family and friends, business angels, accelerators and incubators, crowdfunding platforms, venture capital firms, corporate investors, etc. The course provides a thorough understanding of what motivates them, of the way they invest, and of what support they can provide to a company at what stage in the fundraising cycle. The course addresses the following key questions: How much money can and should be raised? When should it be raised and from whom? What is a reasonable valuation of the company? How should funding, employment contracts and exit decisions be structured?

Thus, the course provides an understanding of the whole fundraising cycle, from the moment the entrepreneur conceived her idea to the moment investors exit the company and move on. We examine the entrepreneur's signalling to investors of the qualities of the venture, the investors' evaluation of the venture, the various dimensions of contracting (cash flow rights, control rights, compensation, and other clauses), the negotiation of a deal and the provision of corporate governance, the process of staged financing, the financing through debt, and the exit process though liquidity events such as initial public offering, sale or merger.

The following topics will be covered in lectures:

1. Introduction: Evaluating Venture Opportunities

2. Financial Planning

3. Ownership and Returns

4. Valuation Methods

5. Term Sheets

6. Structuring Deals

7. Corporate Governance

8. Staged Financing

9. Debt Financing

10. Exits

11. Early Stage & Venture Capital Investors

12. Ecosystems

Da Rin, Marco, and Thomas Hellmann. Fundamentals of Entrepreneurial Finance. Oxford University Press, 2020.

The role of technology for the competitive advantage of the firm and industries; Basic concepts, models and tools for the management of technology; managerial decision making regarding the identification, selection and protection of technology (make or buy, keep or sell, current and future technologies). Theories, practical examples (cases), lectures, interactive sessions and group study.

Leiblein, M./Ziedonis, A.: Technology Strategy and Inoovation Management, Elgar Research Collection, Northhampton (MA) 2011

Beside the written exam at the end of the module, students have to give one presentation (RE) on a research paper and two presentations as part of a group discussion (GD) in the seminar in order to pass. With these presentations it is possible to gain a bonus of max. 20% for the exam. However, the bonus is only valid if the exam is passed without the bonus.

See lecture Technology Management.

Product Planning Process

This integrated lecture is designed to understand major issues, activities and tools in the context of systematic product planning, a key activity for managing the front-end of innovation, i.e.:
•    Systematic scanning of markets for innovation opportunities
•    Understanding strengths/weakness and specific core competences of a firm as platforms for innovation
•    Exploring relevant sources for innovation (customers, suppliers, Lead Users, etc.)
•    Developing ideas for radical innovation, relying on the creativeness of employees, using techniques to stimulate creativity and creating a stimulating environment
•    Transferring ideas for innovation into feasible concepts which have a high market attractively

Voluntary presentations in the third hour (articles / case studies)

- Guest lectures by researchers

Ulrich, K./Eppinger, S.: Product Design and Development, 2nd. Edition, McGraw-Hill 2010

Seminar is integrative part of the Module Product Planning (GTIME). For content see lecture information. The seminar can not be choosen independantly.

See lecture information "Product Planning".

General description of course content and course goals

The aim of the course is to give students an insight into the practice of technology exploitation and innovation marketing. The technologies and product concepts are provided by so called idea providers. These idea providers may be, among others, researchers at universities and project teams working in research institutions with a technical invention or (prospective) entrepreneurs with a business idea.

Within the course the student teams will analyze the market potential of technology-based inventions or business ideas. They will define potential target customers in the market. Another important question to answer is, whether the market is still receptive for a given invention, or whether competitors have already exploited the full market potential. Finally, the student teams will also develop first ideas for the design of the marketing mix and write a report that is also handed to the idea providers.

Summarizing the most important contents

The students will find answers to the following fundamental questions:

• What are the key features of the invention?
• What is the unique selling point?
• What is the most attractive application field?
• Who are the target customers?
• What are their needs and how can they be met?
• What is the market potential of innovations?
• What resources are necessary to exploit this market potential?
• How can/should they enter the market?

Professional Competence

Knowledge

Students can...

• understand the process and the tools of market analysis for innovations (e.g. market potential, market growth, market segmentation)
• explain the concepts of target customers, market definition and market growth
• select the appropriate approach for leading a competitive analysis
• explain the key market-related issues (strengths and weaknesses) of technology-based business opportunities

Skills

Students are capable of...

• analyzing the market potential of inventions and innovative business ideas by using appropriate methods.
• investigating whether a market is still open for a given innovation and develop a first concept for the market entry strategy and the marketing mix.
• searching for relevant information (primary and secondary market data).
• analyzing, aggregating, and interpreting the gathered data and giving well founded recommendations based on the findings.
• writing a scientific report that includes the literature background as well as the development of their methods, their results, conclusions and recommendations.

Personal Competence

Social Competence

Students can...

• provide appropriate feedback and handle feedback on their own performance constructively.
• enter into a dialogue with formerly unknown fellow students, participate in discussions, and present well-grounded arguments.
• constructively interact with their team members and lead team sessions and group work processes.
• develop joint solutions and come to decisions in mixed teams and present the results to others.

Self-Reliance

Students are able to...

• assess possible consequences of their own decisions.
• define required tasks to find a solution for a given problem.
• make elaborated decisions in an real-world innovation context.
• assess their own performance in a team. 

Gruber, Marc, Ian C. MacMillan, and James D. Thompson (2008), “Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms,” Management Science, 54 (September), 1652-1665.

Danneels, Erwin (2007), “The Process of Technological Competence Leveraging,” Strategic Management Journal, 28 (February), 511-533

I. Introduction

• Innovation and service marketing (importance of innovative products and services, model, objectives and examples of innovation marketing, characteristics of services, challenges of service marketing)

• patterns of industrial development, patent and technology portfolios

• objectives and challenges of strategic foresight, scenario analysis, Delphi method

• Role of users in the innovation process, user communities, user innovation toolkits, lead users analysis

• Conjoint Analysis, Kano, QFD, Morphological Analysis, Blueprinting

• Basics of Pricing, Value-based pricing, Pricing models
  

• Basics of Sales Management, Assessing Customer Value, Planning Customer Visits

• Diffusion of Innovations, Communication Objectives, Communication Instruments

Mohr, J., Sengupta, S., Slater, S. (2014). Marketing of high-technology products and innovations, third edition, Pearson education. ISBN-10: 1292040335 . Chapter 6 (188-210), Chapter 7 (227-256), Chapter 10 (352-365), Chapter 12 (419-426).

Crawford, M., Di Benedetto, A. (2008). New  products management, 9th edition, McGrw Hill, Boston et al., 2008

Christensen, C. M. (1997). Innovator's Dilemma: When New Technologies Cause Great Firms to Fail, Harvard Business Press, Chapter 1: How can great firms fail?,pp. 3-24.

Hair, J. F., Bush, R. P., Ortinau, D. J. (2009). Marketing research. 4^th edition, Boston et al., McGraw Hill

Tidd; J. & Hull, Frank M. (Editors) (2007) Service Innovation, London

Von Hippel, E.(2005). Democratizing Innovation, Cambridge: MIT Press

Students learn about economic theories and models that underlie innovation management in an increasingly globalized world. Particular attention is paid to emerging countries such as India and China, but also to other countries in Africa, Asia and South America, as they are becoming increasingly important as innovation locations and sales markets in global economic competition. In the problem-oriented course, the following theories/models will be dealt with:

- Lead Market Theory
- Frugal Innovations
- Open Innovation Approach
- Transnational Model
- Internationalization of Research & Development

By means of the theories and models discussed, students are enabled to analyse the significance and effects of globalisation from an economic as well as a business perspective. Furthermore, they learn to assess the competitiveness of entrepreneurial innovation strategies and innovation locations.

• Bartlett, C. A. and S. Ghoshal (1998). Managing across Borders: The Transnational Solution. Boston, Harvard Business School Press.

• Bartlett, C. A. and S. Ghoshal (1990). Managing innovation in the transnational corporation. Managing the Global Firm. C. A. Bartlett, Y. L. Doz and G. Hedlund. London, Routledge: 215-255.

• Chesbrough, H. (2003). Open Innovation: The New Imperative for Creating and Profiting from Technology. Boston, Harvard Business School Press.

• Christensen, C. M. and M. E. Raynor (2003). The innovator's solution: creating and sustaining successful growth. Boston, MA, Harvard Business School Press.

• Herstatt, C. and R. Tiwari, Eds. (2017). Lead Market India: Key Elements and Corporate Perspectives for Frugal Innovations. Heidelberg, Springer.

• Herstatt, C., R. Tiwari and S. Buse (2017). Innovating for Emerging Markets? An Assessment of German Hidden Champions’ Strategies. Technologie, Strategie und Organisation. W. Burr and M. Stephan. Wiesbaden, Springer Gabler: 219-238.

• Tiwari, R. and C. Herstatt (2014). Aiming Big with Small Cars: Emergence of a Lead Market in India. Heidelberg, Springer.

The seminar "Management of Global Innovations" serves the deepening and practice-oriented application of the teaching material conveyed in the problem-oriented course of the same name. Students work in groups on questions of global innovation management. Consequently, participation in the seminar requires participation in the problem-oriented course of the same name.   

Die Grundlagenliteratur ist deckungsgleich zu der gleichnamigen Vorlesungsliteratur. Hinzukommt themenspezifische Fachliteratur bezüglich der zu behandelnden Fragestellungen. 

The basic literature is congruent with the lecture literature of the same name. In addition, there are subject-specific specialist literature relating to the questions to be dealt with.

Important note: This course is part of an 6 ECTS module consisting of two courses "Entrepreneurship” & “Creation of Business Opportunities”, which have to be taken together in one semester.

Startups are temporary, team-based organizations, which can form both within and outside of established companies, to pursue one central objective: taking a new venture idea to market by designing a business model that can be scaled to a full-grown company. In this course, students will form startup teams around self-selected ideas and run through the process just like real startups would do in the first three months of intensive work. Startup Engineering takes an incremental and iterative approach, in that it favors variety and alternatives over one detailed, linear five-year business plan to reach steady state operations. From a problem solving and systems thinking perspective, student teams create different possible versions of a new venture and alternative hypotheses about value creation for customers and value capture vis-à-vis competitors. We will draw on recent scientific findings about international success factors of new venture design. To test critical hypotheses early on, student teams engage in scientific, evidence-based, experimental trial-and-error learning process that measures real progress.
Upon completion of this course, students will be able to:
· Apply a modern innovation toolkit relevant in both the corporate & startup world
· Analyze given business opportunities in terms of its constituent elements
· Design new business models by gathering and combining relevant ideas, facts and information 
· Evaluate business opportunities and derive judgment about next steps & decisions
Course language is English, but participants can decide to give their graded presentations in German. Students are invited to apply to this course module already with a startup idea and/ or team, but this is not a requirement! We will form teams and ideas in the beginning of the course. Class meetings have alternate intervals of lecture inputs, teamwork, mentoring, and peer feedback. Attendance is mandatory for at least 80% of class time due to large proportion of teamwork sessions.
Student teams give three presentations and submit them with backup analyses. Grading scheme:
· Startup discovery presentation after 5 weeks: 30%
· Startup validation presentation after 10 weeks: 30%
· Final startup pitches after 13 weeks: 40%

• Blank, S. & Dorf, B. (2012). The startup owner's manual.
• Gans, J. & Stern, S. (2016). Entrepreneurial Strategy.
• Osterwalder, A. & Yves, P. (2010). Business model generation.
• Maurya, A. (2012). Running lean: Iterate from plan A to a plan that works.
• Maurya, A. (2016). Scaling lean: Mastering the Key Metrics for Startup Growth.
• Wilcox, J. (2016). FOCUS Framework: How to Find Product-Market Fit.

Important note: This course is part of an 6 ECTS module consisting of two courses "Entrepreneurship” & “Creation of Business Opportunities”, which have to be taken together in one semester.

Startups are temporary, team-based organizations, which can form both within and outside of established companies, to pursue one central objective: taking a new venture idea to market by designing a business model that can be scaled to a full-grown company. In this course, students will form startup teams around self-selected ideas and run through the process just like real startups would do in the first three months of intensive work. Startup Engineering takes an incremental and iterative approach, in that it favors variety and alternatives over one detailed, linear five-year business plan to reach steady state operations. From a problem solving and systems thinking perspective, student teams create different possible versions of a new venture and alternative hypotheses about value creation for customers and value capture vis-à-vis competitors. We will draw on recent scientific findings about international success factors of new venture design. To test critical hypotheses early on, student teams engage in scientific, evidence-based, experimental trial-and-error learning process that measures real progress.
Upon completion of this course, students will be able to:
· Apply a modern innovation toolkit relevant in both the corporate & startup world
· Analyze given business opportunities in terms of its constituent elements
· Design new business models by gathering and combining relevant ideas, facts and information 
· Evaluate business opportunities and derive judgment about next steps & decisions
Course language is English, but participants can decide to give their graded presentations in German. Students are invited to apply to this course module already with a startup idea and/ or team, but this is not a requirement! We will form teams and ideas in the beginning of the course. Class meetings have alternate intervals of lecture inputs, teamwork, mentoring, and peer feedback. Attendance is mandatory for at least 80% of class time due to large proportion of teamwork sessions.
Student teams give three presentations and submit them with backup analyses. Grading scheme:
· Startup discovery presentation after 5 weeks: 30%
· Startup validation presentation after 10 weeks: 30%
· Final startup pitches after 13 weeks: 40%

• Blank, S. & Dorf, B. (2012). The startup owner's manual.
• Gans, J. & Stern, S. (2016). Entrepreneurial Strategy.
• Osterwalder, A. & Yves, P. (2010). Business model generation.
• Maurya, A. (2012). Running lean: Iterate from plan A to a plan that works.
• Maurya, A. (2016). Scaling lean: Mastering the Key Metrics for Startup Growth.
• Wilcox, J. (2016). FOCUS Framework: How to Find Product-Market Fit.

The core of this projectseminar is the systematical and method - based development of individual design method skills. The course is divided into two sections: 
1.) theoretical input on relevant methodologies and
2.) practical training and application of innovation methods.

In the first events, basic knowledge and an overview of methodical approaches to innovation and creativity is given. In the subsequent groupwork phase, user needs are explored, solutions are developed and tested experimentally. Interim results are presented at regular intervals in the plenum. The ideas can be further developed from date to date on the basis of verified or falsified assumptions.

Different design methodologies will be explained and set in context: Design Thinking, Scrum, Kanban, Simplicity, Appreciative Inquiry, Lean start-up, Business Model Canvas, Value Proposition Design. The didactical concept of the practice phase is problem-based learning. Therefore the methodological training will focus on design thinking applied to a real-world problem. In an iterative manner, the student teams go through all Design Thinking stages in a workshop style - starting from understand, to empathize, define, ideate, prototype and test, several times in projects.

Agile design methods forster a new working paradim, a mindset of collaboration. The students will experience the connection between methodology and working culture and reflect on their personal develpoment on the one hand and the team dynamics on the other hand.

• "Design Thinking" (Tim Brown, 2008)

• Change by Design (Tim Brown, 2008)
  
  
• Creative Confidence (Kelley/Kelley, 2013)
  
  
• Value Proposition Design (Osterwalder/Pigneur, 2014)

• Business Model Canvas (Osterwalder/Pigneur, 2010)

• The Lean Startup (Eric Ries, 2011)

• This Is Service Design Thinking (Stickdorn/Schneider, 2012)

The course aims to equip students with an understanding of key issues in the management of innovation and an appreciation of the relevant skills needed to manage innovation at both strategic and operational levels. It provides evidence of different approaches based on leading research, real world examples and experiences of firms and organizations from around the world.

The management of innovation is one of the most important and challenging aspects of modern organization. Innovation is a fundamental driver of competitiveness and it plays a large part in improving quality of life. Innovation, and particularly technological innovation, is inherently difficult, uncertain and risky, and most new technologies fail to be translated into successful products and services. Given this, it is essential that students understand the strategies, tools and techniques for managing innovation, which often requires a different set of management knowledge and skills from those employed in everyday business administration. The course itself draws upon research activities of the Institute for Technology and Innovation Management at the TUHH (www.tuhh.de/tim)

Lecture Topics:

• The Management of (Technological) Innovation
• Strategy and Organization for Innovation
• Managing the Innovation Process
• Innovation in the Age of Circular Economy (C2C)
• Market-Research for Innovation and Design-thinking
• Capturing value from R&D, Open Innovation and IP
• Creativity and mindfulness in Innovation

LITERATURE

Dodgson, M. Gann, D. and Salter A. The management of technological innovation: strategy and practice, Oxford University Press, 2008.

Tidd, J., Bessant, J. and Pavitt, K.: Managing Innovation: Integrating technological, market and organizational change, 5^th edition, John Wiley and Sons, 2013.

Goffin, K., Mitchell, R.: Innovation Management: Effective strategy and implementation Paperback, 3^rd edition, 15. November 2016

The seminar "Management of Innovations" provides a practice-oriented application of the teaching material conveyed in the lecture "Management of Innovations". Students work in groups on selected topics of innovation management. Consequently, participation in the seminar requires participation in the lecture.   

Die Grundlagenliteratur ist deckungsgleich zu der gleichnamigen Vorlesungsliteratur. Hinzu kommt themenspezifische Fachliteratur bezüglich der zu behandelnden Fragestellungen.

Both in an existing organisation and as an individual entrepreneur bringing innovative ideas into life requires planning, management, resources, competencies and environments conducive for taking the idea forward.

This module provides an understanding of how to pursue opportunities but also on learning and practising this. The module adds an applied dimension to several entrepreneurship topics. While introducing a number of instruments for business planning the module also provides a critical perspective on business planning and on the rationale for promoting entrepreneurship. Moreover, the module introduces some of the most important framework conditions for university-based entrepreneurs. Finally, as ‘There is nothing as practical as a good theory’ we will also deal with some of the core theoretical issues in entrepreneurship.

Facing intense competition, companies find themselves competing under ever-changing conditions. Those changes force companies to rethink, reorganize and innovate their business offerings and processes as well as change their business model in order to remain competitive. Therefore, management of technological innovation and applied business modelling has become a key challenge for firms.

The purpose of the module is to give the students an insight in technological innovation management and applied business modelling, both as a descriptive discipline for existing business, and an innovation discipline for new business. In doing so, this module addresses fundamental issues, and introduces new ideas and theoretical perspectives, both as a descriptive discipline for existing business, and an innovation discipline for new business. We will take a look at the foundations and dynamics of technological innovation and business modelling as well as the implications for firms.

This objective includes helping students in attaining better understanding, skills, and competences regarding the role of technology, innovation and change in business as well as the challenges available in, and solutions offered though, organizational transition and change processes. Throughout the module it is emphasised how an organisation, and changes in an organisation, can be understood in relationship with the context of business model innovation as well as technological innovation management.

In addition, the module will illustrate ways in which managers could deal with some of these technological innovation and business modelling challenges. Prominence attention is given for providing the students with frameworks and methods that are both theoretically sound and practically useful.

In a rapidly changing world that we live in, it is utmost important for organisations to continuously develop new services, products, and business areas to survive and grow. In terms of creating changes through innovation and business development, established firms face challenges different from those that new firms face. In this module, we aim to understand the role and the processes of corporate entrepreneurship in established firms. We will also explore the external business context - local, national, global networks - that firms are a part of and interacting with, when pursuing innovation and business development. Furthermore, technological aspects of business development and innovation in established companies is explored both in product, process and business model innovation.

The module covers both theoretical and practical insights through lectures, discussions and case assignments.

In this module the student will complete collaborative process with a Danish or foreign organisation. This allows students to gain a minimum of 240 hours of valuable work experience while studying. During the collaborative process, students will work on a specific project related to the master programme while working on identifying, exploring, analysing and reflecting on a master programme-related problem of their choice.

The purpose of this module is to allow the student to acquire practical experience through working in an organisation with a specific project and bring their knowledge into play by trying out their theoretical and methodological competences in practice. The business cooperation will result in a written report, where the student explicates the knowledge, skills, and competencies acquired during the internship and combine it with contemporary knowledge acquired in the core modules of the master programme. A supervisor will be assigned to the student.

In this module the student will complete collaborative process with a Danish or foreign organisation. This allows students to gain a minimum of 240 hours of valuable work experience while studying. During the collaborative process, students will work on a specific project related to the master programme while working on identifying, exploring, analysing and reflecting on a master programme-related problem of their choice.

The purpose of this module is to allow the student to acquire practical experience through working in an organisation with a specific project and bring their knowledge into play by trying out their theoretical and methodological competences in practice. The business cooperation will result in a written report, where the student explicates the knowledge, skills, and competencies acquired during the internship and combine it with contemporary knowledge acquired in the core modules of the master programme. A supervisor will be assigned to the student.

Business design includes an introduction to classic business design concepts with specific focus on developing and implementing business models in existing companies across industries. The student will be introduced to organisational issues through the development and modification of business models and will work with innovation of business models in practice. The point of departure will be new contextual challenges for business design.

The development of business models is discussed in relation to existing business context, ecosystems and networks, with focus on the way in which business models develop across organisational boundaries and how this process is supported by collaboration and partnership.

As the role of business becomes increasingly important in the fight against climate change, the module on Sustainability and Non-market Strategy aims to highlight the importance of sustainability in business.

Students in this module will evaluate 1) the various drivers behind sustainability such as cost savings, growth opportunities, innovation, differentiation, and competitive advantage for motivations that can range from environmental to strategic; 2) how companies respond by integrating sustainability into their strategy, setting goals and standards, as well as different shades of green; and 3) when firms maximize social, environmental, and economic value from solving sustainability issues. Sustainability and Non-market Strategy thus refers to decisions regarding issues of Environment, Social, and Governance issues that firms face, and how firms respond to these challenges.

This module should be of value for students interested in issues of sustainability, corporate social responsibility, leadership, and corporate strategy for a world adapting to climate change challenges. In order to achieve these goals, the module will cover topics such as UN Sustainable Development Goals, economics of climate change, CSR, greenwashing, leadership in sustainability, emerging technologies, corporate political activity, and role of government.

The module aims to develop critical thinking skills that are useful to identify and analyse challenges and opportunities in sustainability, as well as become responsible leaders and effective agents of social change.

The module will take a strategic approach to understanding sustainability, examine recent research to analyse critical, ethical, and managerial issues in issues of sustainability.

Managers today need to better understand cause and effect in organisations where data plays an important role in decision-making. While machine learning and AI tools can help with identifying relationships in data, such standard tools often do not detect cause and effect relationships in the data. This creates a shortcoming for managers and strategists where these algorithms may not allow to answer important questions in business analytics and decision making regarding “what is the effect of X on Y?” or “did X cause Y to change?”. Many prominent firms such as Google, Uber, Zalando, McKinsey and Spotify are investing in their causal data science capabilities.

This module will provide an introduction to the topic of causal inference with a focus on machine learning and AI based problems in business. In this module, students will conceptually learn how to apply causal inference for data and evidence driven decision making, at the intersection of data science and management strategy. Students will be exposed to various examples to apply concepts from causal analyses learnt in the module. The module will first introduce students to the world of causal inference, and cover standard tools that are used in empirical research, such as instrumental variables, regression discontinuity designs, difference-in-differences. The module will also include case studies that cover machine learning and AI based problems in business decisions.

As the module will cover these topics conceptually, students do not need a particular background to take this class. However, some concepts such as conditional means, variances, hypothesis testing and regression will be covered at the beginning of the module. In-class lectures feature case studies and examples of causal inference research designs.

The purpose of this module is to shed light on the social responsibility, compliance, and accountability-control issues that arise in a global business setting. The subject matter is treated as a key for developing critical insight into the world-wide regulatory challenges faced by corporations in implementing environment, social and climate change related reporting obligations, imposed both at the domestic and international level. The module takes the question regarding the practical relevance of three topics - social responsibility, compliance and management control/accountability - in the global context.

Firstly, it traces the theories regarding the types and interpretations of corporate social responsibility (CSR), and it illustrates the numerous ways of making sense of it, according to the diverse assumptions about its nature and characteristics. It explores how a range of global emerging social, environmental and political issues impact corporate governance, risk management and strategy policies related to sustainability. Subsequently, it covers the development of the concept of social responsibility and how this is implemented by organizations, what its impact is, and potential future developments.

Secondly, the module examines the legal and moral compliance issues and challenges related to these issues are faced by organizations operating in global business contexts. The regulations, standards, and guidance directives that address issues such as environmental compliance, competition, anti-bribery, social responsibility, UN sustainable development goals, ethical leadership and climate change transparency will be considered in this part of the module.

Thirdly, the module examines the management control implications. It looks at the definition and interpretation of management control/accountability and at what constitutes the ethic of accountability. In doing so it examines the way social actors (and, to a certain extent, organizations), can situate themselves as members of an ongoing community that affects, and is affected by them. The implications drawing from the interdependence between actors, gatekeepers (such as governments, auditors and regulators), and communities (e.g. the implementation of evaluation criteria, management control mechanisms required to meet relevant regulatory requirements) will be addressed in this part of the module. 

The module will guide students through the complete life cycle of a start-up venture from launch to exit. It specifies different stages that a new company may go through as it grows, and outlines financial challenges confronting entrepreneurial ventures along the way. Students will receive answers to key questions: how much money can and should be raised, what is the optimal timing of obtaining financing, what is a reasonable valuation of the venture, how and where to obtain financing, how funding should be structured and how to position a new venture strategically. Students will be introduced to knowledge, theories and corporate finance tools that will help to recognise venture value, measure and evaluate financial performance.

This module is designed for students who have a basic understanding of finance and familiar with the concepts such as time value of money, basic valuation principles, basic risk and return trade-off fundamentals, basics of evaluation of investment alternatives.

During the module students will be introduced to approaches to valuing new venture or start-up equity from a venture capital (VC) perspective, will learn about various types of investors (venture capital, business angels, private equity, early stage and traditional financing sources) and financing of high-risk, high-growth ventures, the optimal timing in terms of obtaining funding and when to go public, exit and turnaround strategies, and the impact of digitalisation on entrepreneurial finance market. The module is essential for those wishing to understand the financial aspects of entrepreneurship and interested in gaining a broader view of the financial landscape and deal structure for new ventures, and for those considering starting a company and raising capital.

The importance of world trade has increased and international business growth offers increased opportunities for organisations. Many organisations are, therefore, now engaged in planning and conducting marketing activities across national borders.

This module, introduces students to international marketing and the factors that create international marketing complexity. Also, to the major decisions in international marketing, including whether to go international, what foreign markets to enter, how to enter these markets, and how to design the international marketing mix.

International sales and negotiations will introduce the students to business negotiation fundamentals and enable the students to understand different theories of negotiations for marketing and sales contexts.

The ability to negotiate with customers and partners is essential to business, and understanding how to plan and execute a negotiation process is a key competency.

This module will introduce negotiation techniques and strategies to plan and engage in negotiations as part of sales and marketing processes.

Brands can be extremely valuable assets and a significant growth driver. This module will analyse how brands function as pivotal devices in today’s society and the role of strategic brand management in customer value creation.

During this module the student will acquire insights into how companies should manage brands to maximize brand equity. This includes knowledge about the different brand management decisions that must be made to build, measure, and manage a brand. Furthermore, the objective of this module is to provide the student with insights into central theories and approaches related to strategic brand management, including theories on how customers develop brand attitudes and behaviours.

The module will introduce students with an insight on emerging and global dynamics of society and technology and how those dynamics affect firm’s international business operations and competitiveness. During this module, students will be introduced to theories and models explaining how and why firms can transform in the face of revolutionary changes in the global environment due to emerging dynamics and technological breakthroughs through innovative strategies and reinvented business model. 

The module explores the internationalisation in emerging product and geographic markets. International companies respond to external or internal opportunities and use their creative efforts to introduce new products and services. They, in turn, help capture and retain market share, increase profitability, and achieve competitive advantage in international markets.

The module analyses the emergence of products and services, as well as servitization of solutions integrating design and technology. It also explores geographic emerging markets in Asia, Eastern Europe/Russia, Africa and Latin America. It brings cross-country differences in strategies across emerging markets, discusses the effects of internationalization on emerging markets and assesses risks and opportunities in emerging markets and transitional economies.

The module explores the internationalisation of various types of organisational forms such as NGOs, platform organisations, non-for-profit organisations, etc. These forms are not well researched in the International Business literature and offer new avenues for exploring the diversity in internationalisation.

The module aims to address the phenomenon of such organisations, cover relevant theories, frameworks, and practices in understanding their internationalisation, their types and relations with established forms of multinational firms. The impact of such organisational forms on society, policy, technology, economy, commerce and the challenges in their international activities and legitimation will be discussed.

This module discusses the emerging trends of value creation such as from do it alone to value co-creation with global partners, establishing cross-border strategic alliances and networks for joint innovation, participating and orchestrating innovation ecosystem for sustainable development, etc. Students will develop knowledge and reflect on issues such as, but not limited to, MNCs’ global innovation modes and strategies, business and innovation ecosystems, digital platforms, business ecosystem in emerging markets, and interplay between value co-creation and value capture for sustainable development.

During this module, we will start with reflecting more conventional theories and value creation modes such as global value chain and network theory, then will progress to more contemporary theories and topics such as ecosystem theory, coopetition theory, and the impact of digitalization. The module adopts digital tools and employs various pedagogical methods including lecturing, group discussions, peer review and peer learning, games and experiments, simulation, etc. 

The purpose of this module is to secure the student can combine theoretical and empirical perspective with a hands-on experience of the process of new venture creation. Either as a new venture or corporate venturing within existing organisations.

The project must deal with the process of new venture creation (either as a new venture or corporate venturing within existing organisations) and empirical/theoretical problems in relation to this.

The objective of the module is to provide the student with theoretical and practical knowledge and abilities within financial control, trade and management of commodities as well as physical and financial exposures within the commodity market and, additionally, to relate to the ethics within the area.

The student must develop abilities and skills to understand the market mechanisms in the commodity markets and handle the purchase and sale of commodities, theoretically and practically (simulated). The module is intended to provide the student with the strategic, financial and trading tools needed to handle both day-to-day management and risk management of commodities in practice.

As part of this, the student will also get acquainted with the digital tools used to e.g. trade on the energy market, monitor fluctuation in the prices etc. in order to understand the technologies used in the domain, but also to inspire how these could be further developed and challenged.

• Turban, E., Volonino, L., Wood, G. R. (2005) Information Technology for Management: Digital Strategies for Insight, Action, and Sustainable Performance, John Wiley & Sons.

• Leifer, Richard, McDermott, Christopher M., O'Connor, Gina Colarelli, Peters, Lois S. Rice, Mark P. Veryzer Robert W. (2000) Radical Innovation: How Mature Companies Can Outsmart Upstarts, Harvard Business School Press.
• Day George S., Schoemaker, Paul J.H. with Robert E. Gunther (2005) Wharton on managing emerging technologies.
• Porter Michael E. (1998) On Competition (Harvard Business Review Book Series), Harvard Business School Press
• Clayton, M. Christensen (2003) The Innovator's Dilemma: The Revolutionary National Book That Will Change the Way You Do Business (Harperbusiness Essentials) Harperbusiness.
• Clayton, M. Christensen, Raynor Michael E. (2005) The innovator''s solution : creating and sustaining successful growth.
• Tschirky, H., Jung () Technology and innovation management on the move : from managing technology to managing innovation-driven enterprises (Industrielle Organisation).
• Simon, H. () Hidden champions of the twenty-first century : success strategies of unknown world market leaders, Springer.

• Abegglen, James (2006) 21st Century Japanese Management: New Systems, lasting value, New York, Palgrave Macmillan.
• Chen, Min (2004) Asian Management Systems (2nd edition), London, Thomson.
• Flath, David (2005)The Japanese Economy (2nd Edition), Oxford, Oxford University Press.

No textbook , but a journal articles and book chapters

• Russell, Roberta S., Taylor, Bernard W. (2014) Operations management, Wiley; 8th Edition International Student Version