Strategic Venture Planning and Innovation

Catalog description

Development and presentation of a venture plan including product development; market research; competitive analysis; financing and capitalization; organizational structure. BUS 589BUS 589 Strategic Venture Planning and Innovation (2) The purpose of BUS 589 is to have the business student apply strategic management theories and practices acquired in BUS 588 to a specific, practical project in order to further the understanding of the process of creating and managing a strategy based on innovation (an entrepreneur strategy). This course is a direct extension of BUS 588 and should be taken immediately following it. The process of innovation is analyzed in detail together with the influences on it. The effects of various contexts on entrepreneurial strategy will be considered. Finally, issues related to the implementation and management of a strategy based on innovation will be discussed.Students are required to develop a comprehensive new venture plan for an actual business organization to demonstrate knowledge of organizational design from a strategic perspective. Students will have to apply management, marketing, finance, information systems, and accounting knowledge in the new venture proposal. They must also demonstrate their knowledge of the influence of external (environmental) contexts on strategy formulation and implementation through the use of appropriate analytic frameworks. Finally, they must demonstrate a grasp of what constitutes competitive advantage within the strategic context that they have chosen for their project.