This document provides an introduction to a course on Innovation and Entrepreneurship (I&E). It discusses how I&E relates to other business areas and notes that the coursework will ask students to investigate an area of I&E and identify opportunities. It also highlights the importance of I&E to the economy and job prospects, citing views from industry reports, government ministers, and universities on growing sectors and driving innovation. The document provides an overview of perspectives on I&E and notes resources on the topics from various organizations.

1. 1. Introduction to Innovation & Entrepreneurship (I&E)

2. I & E – some initial points BSc Marketing I&E links to other areas of the BSc Marketing Course Strategy (semester 2 core ) Technology Marketing (semester 2 option) Globalisation (semester 2 core) I&E cut across the traditional areas of management. There are multiple ways of understanding I&E. Your Job Prospects What private sector employers value when competing. What public sector organisations value when improving services. The course work asks you to investigate an area of innovation & entrepreneurship. You need to consider carefully the focus for your coursework.

3. Job prospects A key activity is for you to explore an area within the economy that’s of interest to you; Find out what’s happening that’s new / different / important; And identify opportunities. Support your answer with academic references and published reports

5. Lecture 1 Objectives Understanding the meaning of innovation & entrepreneurship Relevance & Perspectives Innovation & Marketing You must access Webct / Blackboard: Module Handout Coursework details Core and additional Powerpoint slides Coursework submission sheet

6. Areas for jobs growth…. Given your knowledge of the market place try to identify the following: Overall trends? What sorts of organisations will be creating jobs in the next two to four years?

7. Five Matrix Horizon Sectors Do you know of any local companies in these industries? Advanced Engineering (Transport) Advanced Materials Agri-food ICT Life and Health Sciences See Matrix –NI website on the www.

8. Commentators views on I&E ‘ Entrepreneurship relates to a certain kind of activity. At the heart of that activity is innovation: the effort to create purposeful, focused change in an enterprise’s economic or social position.’ Peter Drucker (1985) (See a range of sites on the www dedicated to the work of Drucker)

9. Perspectives – Northern Ireland Economy “ A stronger emphasis needs to be placed on developing Innovation and R&D in NI to attract, develop and retain high value investments, both indigenous and foreign owned. There also needs to be much greater integration between indigenous SMEs and the supply chains of larger companies”. Richard Barnett The Barnett Report Sept 2009 The Independent Review of Economic Policy (DETI & INI)

10. Perspectives – Northern Ireland Public Sector “ Healthcare professionals’ innovation and entrepreneurship is key to delivering best health and social care”. Edwin Poots NI Executive Minister of Health, June 2011

11. Perspectives – Northern Ireland Universities “ As global commerce moves rapidly towards knowledge-intensive economies and technology-focused industries, it will be vital for leading universities to respond to these trends”. Declan Kelly US Economic Envoy to N Ireland Jan 2011

12. Wider sources for I&E Innovation in the UK: Technology Strategy Board see www Innovation in the Republic of Ireland Enterprise Ireland see www

13. European Community 2009 as European Year of Creativity & Innovation Europe needs to strengthen its capacity for creativity and innovation for social and economic reasons in order to respond effectively to the development of the knowledge economy Support for innovation is an essential part of the Lisbon strategy for growth and jobs (European Parliament 16 December 2008) See http://create2009.europa.eu

14. A Marketing perspective … The marketing concept The achievement of corporate goals through meeting and exceeding customer needs better than the competition. (Jobber, 2004:5) Limitation: Marketing as a constraint on innovation (Jobber, 2004:10)

15. Marketing and Innovation Marketing research discourages major innovation. Innovations may be beyond customer experiences. Market opportunities from science ‘push’ Understanding technology is as important as market needs analysis (Jobber, 2004:12)

16. Unlimited opportunities for innovation Scientists today are working on a startling range of new technologies that will revolutionize products and production processes. The challenge is the commercialization of these products and develop new/different services. (Kotler,2003:172)

17. Module Handout Rationale, aim, objectives Assessment Reading Weekly teaching topic Coursework details Core slides on Webct/Blackboard before class Additional slides on Webct/Blackboard after class

18. Concluding points… Innovation & Entrepreneurship are important You need to understand what they involve You need to make an attempt to explore an area of innovation and then try to identify some opportunities As a graduate you’re expected to innovative and entrepreneurial.