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Management of Innovation

Course developer

Prior knowledge

Ekon1012, Microeconomics

Ekon1024, Microeconomics

Ekon2109, Macroeconomics

Ekon2121, Macroeconomics

Course abstract

The course is designed to acquire knowledge and understanding of innovation, the role of innovation in the national economy and the opportunities provided by innovation in a globalising world and in an increasingly competitive environment. Based on international experience, the course analyses the national innovation system of Latvia and available support for innovative entrepreneurship. The course focuses on forming a creative environment in an enterprise and assessing commercialisable ideas, and students are also familiarised with the basic principles of innovation strategies.

Learning outcomes and their assessment

Students will be able to demonstrate:
Knowledge:
of the nature and kinds of innovation, the structure of an innovation ecosystem and the role of constituent elements of it (discussions in classes, seminars); the role of innovation in the context of economic science, the knowledge of basic innovation economics theories and the role of innovation in economic growth (test); the role of creativity in shaping an innovative environment and different strategic approaches to designing, positioning and developing an innovative product as well as the knowledge of effective government support instruments (discussions in classes, seminars); prerequisites for, constraints on and consequences of innovation management and the understanding of the most important innovation strategies for maintaining competitiveness (test).
Skills:
to recognise and create original commercialisable ideas, analyse the prerequisites for their commercialisation, design products and assess their competitiveness (discussions in classes); argue different strategies for managing internal environment factors affecting an enterprise that are impacted by the Kondratieff cycle (discussions in classes); describe and analyse the different (knowledge-/natural resource-based) approaches applied by some countries (discussions in classes);

Competence:
to integrate the findings of innovation management into the existing belief system and use them to come up with original solutions (discussions, tests); use measures stimulating creativity and building up knowledge for self-development and the development of an enterprise (discussions, independent work).

Course Content(Calendar)

1. Concept, nature and characteristics of innovation (1h - lecture).
2. Role of innovation in economic growth theories (1h - lecture).
3. International experience in promoting a knowledge-based economy (1h - lecture, 1h - practical).
4. Economic transition: from a resource-based to a knowledge-based economy (1h - lecture, 1h - practical).
5. National innovation system. Innovation ecosystem (1h - lecture, 1h - practical).
6. Analysis of the structural components of the national innovation system. Innovation ecosystem (1h - lecture).
1st test (1h).
7. Economic aspects of innovation in entrepreneurship (1h - lecture, 1h - practical).
8. Financial aspects of innovation (1h - lecture, 1h - practical).
9. Innovation marketing (1h - lecture, 1h - practical).
10. Kinds and policies of innovation support (1h - lecture, 1h - practical).
Study trip to the Jelgava Business Incubator (2h).
11. Innovation management strategies (1h - lecture, 1h - practical).
12. Formation of an innovative environment in an enterprise (1h - lecture, 1h - practical).
13. Legal aspects of innovation – from an idea to the market (1h - lecture, 1h - practical).
14. Innovation protection and the formation of a knowledge platform (1h - lecture, 1h - practical).
15. Technological innovation introduction strategy (2h - lectures, 1h - practical).

2nd test (1h).

Requirements for awarding credit points

Students have to: pass two tests (Role of innovation in contributing to economic growth; Innovation management strategies); do independent work (Analysis of innovation); prepare for and participate in seminar classes (Analysis of innovation systems; Creativity and a commercialisable idea; Development of an innovation). The course ends with a formal test earning a mark.

Description of the organization and tasks of students’ independent work

In the independent work, students have to examine some innovation, describing it according to a plan (familiarised with in advance) and presented (usually PPT) to other students; in conclusion, there are questions and discussion.

Criteria for Evaluating Learning Outcomes

A test is passed if at least 40% answers are correct. The highest mark could be earned if all the questions, among them an analytical one, are answered correctly.

Compulsory reading

1. Inovatīvas darbības pamatelementi: rokasgrāmata maziem un vidējiem uzņēmumiem, otrais papildinātais izdevums, LR Ekonomikas ministrija, Rīga, 2007, 276 lpp.
2. Hila A.L. u.c. Kolektīvais ģēnijs. Inovāciju vadības māksla un prakse. Latvijas Mediji. 2014., 288 lpp
3. Rivža, B. u.c. Simtam pāri. Viedā Latvija. VPP EKOSOC-LV. Zinātņu akadēmija, Rīga, 2018., 416 lpp.
4. Ābeltiņa, A. Inovācija – XXI gadsimta fenomens. Turība, Rīga, 2009., 152 lpp.
5. Adner R. The Wide Lens. Portfolio Penguin. 2012., pp 278.

6. Tidd, J., Bessant, J., Managing innovation. John Wiley & Sons, Ltd. 2010., pp 622.

Further reading

1. Inovatīva domāšana, Harvard Business Review on grāmatu sērijā, autoru kolektīvs, Lietišķās informācijas dienests, Rīga, 2007, 203.lpp.
2. Landins S. Kaķi. Inovācijas deviņas dzīvības. Rīga: Lietišķās informācijas dienests, 2010, 188 lpp.

Periodicals and other sources

1. Inovācijas portals - www.innovation.lv
2. Inovācijas rokasgrāmata - www.innoSupport.net

3. Latvijas investīciju attīstības aģentūra - www.liaa.gov.lv

Notes

Restricted elective course for the ESAF Bachelor programme Economics, specialisation Regional Development and Administration
Field professional specialization course for the ESAF professional Bachelor programme Entrepreneurship and Business Management