Entrepreneurship and Innovation Management MSc

Entry requirements:
2:2 +
Full-time:
1 year
Part-time:
Up to 4 years
Start date:
October 2018
UK/EU fees:
£13,500
International fees:
£24,500
Location:
London

Achievements

Winner

of the annual institute

for small business and entrepreneurship award 2016

Overview

Our MSc Entrepreneurship and Innovation Management programme gives you the opportunity to explore and reflect on what it takes to achieve, sustain and grow a business.

Not only will you acquire the skills and knowledge required to set up your own venture, but you will develop a critical and deep understanding of what it means to be entrepreneurial and innovative, both as an individual and as an organisation.

Entrepreneurial behaviour is a key competency required by a growing number of employers. Our MSc Entrepreneurship and Innovation Management programme will provide you with a robust understanding of the innovation process. You will also be equipped with the key skills and competencies required to respond quickly and take action, so that you will be well placed to succeed in today’s marketplace.

Some of the research interests in the Institute for Innovation and Entrepreneurhsip feed directly into the curriculum, such as findings and trends relating to family businesses, venture capital and private equity, digital entrepreneurial activity, social network analysis, social entrepreneurship, governance and executive compensation, and crowdfunding.

By the end of the programme, you will have a clear understanding of the complexity of the innovation process and its importance in the current economic climate, and will have knowledge of the academic theories of entrepreneurship and the relationship between entrepreneurial tendencies and resulting behaviour.

What makes this programme different?

  • Guest lectures from successful entrepreneurs and business leaders
  • Learn how to launch your own business venture
  • Skill to progress in large blue chip companies

Who should study this programme?

If you are considering launching your own venture and would like expert advice and training on the skills required for success, then this programme is for you. Similarly, if you have a passion for enterprise and aspire to work with small start-up companies and organisations, then our MSc Entrepreneurship and Innovation Management programme will equip you with the tools and knowledge you need transform a foundation into a global success story.

Entry requirements

Minimum of a lower second class honours degree (2:2) or equivalent qualification in a wide range of subjects.

English language requirements

The standard University IELTS English language requirement is 6.5 overall with 6.0 in each individual element (reading, writing, listening and speaking).

What you'll study

The Institute for Innovation and Entrepreneurship delivers teaching from world class academics, influential thought leaders and inspiring professionals who share a passion for enterprise and entrepreneurship.

Modules

Compulsory modules

Collaborative Project

This module tests your skills in a team environment. With a multi-talented group of students you will work on a brief from a real company looking to solve a real social or business problem for a real client.

Student teams will research and build solutions to a business deadline supported by our project tutors, clients and staff. Previous clients include organisations such as BT Sport, The London Legacy Development Company and other companies and charities working to respond to the digital age.

The Collaborative Project will support your ability to engage in critical enquiry and will invite you to apply your individual strengths and skills, building on their own educational backgrounds. To provide students with an opportunity to be exposed to project based teamwork in multicultural and interdisciplinary settings in order to strengthen their cooperative and collaborative working skills and competence, while raising awareness and appreciation of cultural and disciplinary diversity and differences.

It also aims to provide you with hands-on experience of identifying, framing and resolving practice oriented and real-world based challenges and problems, using creativity, critical enquiry and appropriate tools to achieve valuable and relevant solutions. You will be given opportunities to network with a range of stakeholders, organisations and corporations, aiming to enhance your competence and skills to connect to relevant parties and build up future professional opportunities.

Learning outcomes

  • Work in diverse and interdisciplinary teams
  • Understand and be able to undertake a project based development process
  • Apply critical enquiry, reflection, and creative methods to identify, frame, and resolve issues and problems at hand
  • Identify user and stakeholder needs and value creation opportunities, while collecting and applying evidence-based information and knowledge to develop appropriate insights, practices and solutions
  • Identify, structure, reflect on key issues and propose solutions to problems in creative ways
  • Enhance appreciation for diversity and divergent individual and disciplinary perspectives
  • Be able to provide structured, reflective and critical feedback to peers and other stakeholders
  • Plan and execute a project plan including scope, resources and timing
  • Effectively communicate ideas, methods and results to diverse stakeholders
  • Use multiple, state of the art date media and technologies to communicate with collaborators
  • Make informed, critical and reflective decisions in time-limited situations

Assessment

100% Coursework consisting of:

  • 20% Group project proposal
  • 20% Individual reflection
  • 30% Final Project Report
  • 30% Project Deliverables to the client

Innovation Management

This module will include teaching on the innovation process and models for innovation; the importance of innovation to the economy; government support for innovation; and the importance of innovation in the contemporary business environment.

The module aims to equip you with an in depth knowledge of the innovation process, its importance to the economy and an understanding of the factors affecting its success.

Learning outcomes

On completion of this module you should be able to:

  • Explain the complexity of the innovation process
  • Highlight the types and patterns of innovation
  • Understand the interrelationship between an organisation's environment and its innovative capability     
  • Relate innovation theory to the performance of organisations
  • Interpret company performance in relation to the dynamic environment in which it operates
  • Synthesise information from appropriate sources
  • Demonstrate rational use of business and risk analysis tools to analyse company performance
  • Select and use appropriate investigative and research skills
  • Demonstrate effective report writing skills
  • Demonstrate commercial awareness
  • Recognise ethical dilemmas and corporate social responsibility issues

Assessment

100% Coursework consisting of:

  • 5% Introduction Assignment
  • 95% Report

Entrepreneurship

This module will include teaching on entrepreneurship and the economy; the theories of entrepreneurship; recognizing and measuring entrepreneurial tendencies; and entrepreneurship in different organisational contexts.

The aims of this module are to introduce you to the field of entrepreneurship; to examine the role entrepreneurship plays in modern economies; to analyse the different types of activity contained within the definition, and the main theoretical and analytical approaches used to understand the concept; to consider entrepreneurial innovation at different stages of a business (from start-up to more mature firms); to enable you to assess your own entrepreneurial tendencies; and to enable you to test theories in a mini research project.

Learning outcomes

By the end of the module, you should have a critical appreciation of:

  • The varying and pervasive role of entrepreneurship within the economy
  • The different contexts in which entrepreneurs operate
  • The approaches developed by researchers in attempting to understand the entrepreneurial process
  • Your own entrepreneurial tendencies
  • A firm academic and empirical understanding of the dimensions and role of entrepreneurship in a modern economy
  • The ability to interpret and contextualize commentary and analysis relating to the field
  • Select and use appropriate investigative and research skills
  • Demonstrate effective essay/report writing skills
  • Demonstrate resourcefulness to carry out data collection
  • Understand your own skills and opportunities
  • Demonstrate a positive attitude towards a challenge

Assessment

  • 40% Reflective essay
  • 60% Project

Funding

You will learn basic financial calculations, how to analyse the financial status of a company and prepare a pitch to an investor. The aim of this module is to equip you with an in depth knowledge of the various funding options available for new ventures and the processes involved in obtaining financial backing.

Learning outcomes

On completion of this module you should be able to:

  • Identify the financial requirements of an organisation
  • Understand the relevant sources of funding and their acquisition
  • Analyse data and information in order to make effective decisions
  • Demonstrate effective communication to persuade and influence stakeholders
  • Evaluate the funding needs of a new venture
  • Demonstrate effective report writing skills
  • Work effectively in a team
  • Demonstrate good oral communication and presentation skills
  • Demonstrate a positive attitude towards a commercial opportunity
  • Demonstrate problem solving ability

Assessment

  • 25% Group Presentation
  • 75% Case study

Advanced Market Analysis and Strategy

By the end of this module, you will be able to perform a critical analysis of the competitive environment in which an organisation operates. You will learn how to critically analyse an organisation's ability to face competition, develop and grow, both nationally and internationally. You will develop a critical understanding of SWOT, DPEST and Porter models and will utilise these alongside insights from game theory, to identify the strategic challenges and opportunities facing an organisation. 
This module will draw on key theories in strategic management, and will build on the latest academic insight in this area. Topics addressed in the module include company positioning, internationalisation strategies, alliances, strategic organisation, industry architecture and dynamics, and stratgic decision-making. 

Learning Outcomes

  • On completion of this module, students should be able to:
  • Identify and critically assess the forces impacting on company strategies 
  • Demonstrate an awareness of factors involved in strategy making
  • Assess the resources and constraints for strategy making in a competitive environment
  • Explain and critically reflect on the importance of social, economic, political and technological forces in a company's environment
  • Critically investigate and reflect on the impact of internationalisation company strategy
  • Identify key drivers of companies' competitive positioning
  • Critically analyse companies' preparedness to face competition and ability to develop to grow, including internationally
  • Synthesise information from appropriate sources
  • Demonstrate effective communication to persuade and influence stakeholders
  • Demonstrate effective report writing skills
  • Select and use appropriate investigative research skills 

Assessment

100% coursework

Understanding Business Failure

You will look at the innovation process and risk assessment methods for avoiding failure. We will also look at the risk taking traits of entrepreneurs and the attitude towards failure in society.

The aim of this module is to equip you with knowledge of the various factors that cause the failure of an organisation.

Learning outcomes

On completion of this module you should be able to:

  • Identify the multiple causes of failure and interconnectedness of these
  • Identify the ways in which organisations and individuals can learn from failure
  • Recognise the value of failure as a positive step
  • Recognise the need for resilience in the case of failure
  • Demonstrate rational use of business and risk analysis tools to analyse company performance
  • Select and use appropriate investigative and research skills
  • Demonstrate effective report writing skills
  • Demonstrate commercial awareness
  • Demonstrate problem solving capability

Assessment

  • 100% Case Study

Dissertation

The Dissertation module will equip you with the relevant skills, knowledge and understanding to embark on your own research project. You will have the choice of three dissertation pathways:

  • A desk based research project that could be set by an organisation or could be a subject of your choice
  • A project that involves collection of primary data from within an organisation or based on lab and/or field experiments
  • An Internship within an organisation during which time you will complete a project as part of your role in agreement with the organisation (subject to a suitable placement position being obtained)

By undertaking a dissertation at master's level, you will achieve a high level of understanding in your chosen subject area and will produce a written thesis or project report which will discuss your research in more detail.

Learning outcomes

On successful completion of this module, you should be able to demonstrate knowledge and understanding of:

  • The importance of project planning
  • The importance of a clear hypothesis or research question
  • The ethical implications of research
  • The relevant empirical data and methodologies for data collection or knowledge assimilation for the subject area
  • Methods of data analysis and their suitability for the intended data
  • The areas of expertise or publications of the major individuals or organisations in the subject or business area
  • The previous research or current knowledge in the specific subject or business area
  • Theoretical perspectives relevant to your chosen topic
  • The most effective methods of presentation for data or knowledge
  • Developing a clear, coherent and original research question, hypothesis or business problem in a suitable subject area
  • Synthesising relevant sources (e.g. research literature, primary data) to construct a coherent argument in response to your research question, hypothesis or business problem
  • Analysing primary or secondary data collected by an appropriate method
  • Critically evaluating data collected in context with previously published knowledge or information
  • Engaging in critical debate and argumentation in written work
  • Applying principles of good scholarly practice to your written work
  • Performing appropriate literature searching/business information searching using library databases or other reputable sources
  • Planning a research project and producing a realistic gantt chart demonstrating your intended timelines
  • Synthesising information from appropriate sources
  • Demonstrating rational use of research method tools
  • Selecting and using appropriate investigative and research skills
  • Demonstrating effective project planning skills
  • Finding and evaluating scholarly sources
  • Engaging in critical reasoning, debate and argumentation
  • Demonstrating effective report writing skills
  • Recognising and using resources effectively
  • Successfully managing a project from idea to completion
  • Demonstrating commercial awareness or the impact of knowledge transfer in a business or research environment

Assessment

100% Coursework consisting of:

  • 20% Literature Review
  • 20% Research Proposal
  • 60% Dissertation Report/Essay

Optional modules

Family Businesses

New for 2017, this module examines the factors influencing family-owned and managed businesses, including key research and methodical approaches to better understand entrepreneurship and innovation in family firms. Insights into the academic theories behind family business are also identified, as well as approaches into family firms and strategic choices.

Learning outcomes

By the end of the module, you should have a critical appreciation of:

  • The different types of family businesses
  • The link between `family’ and strategic choices
  • Family dynamics and the `family effect’ on the business
  • The approaches developed by researchers in attempting to understand family firms
  • The dimensions and role of family firms in a modern economy

Assessment

  • 100% coursework

Intellectual Property

This module will include aspects of intellectual property law, the types of intellectual property, using intellectual property for commercial advantage, how to apply for intellectual property, and intellectual property database searching.

The aim of this module is to equip you with knowledge of the various types of intellectual property, searching intellectual property databases, the legal basis of intellectual property rights, the application process for obtaining intellectual property and its importance to the innovation process and the entrepreneur.

Learning outcomes

On completion of this module you should be able to:

  • Explain the importance of intellectual property as an asset
  • Understand the complexity of IP law and the protection process
  • Know the commercial value of the various types of intellectual property
  • Interpret data and information in order to make effective decisions
  • Perform intellectual property searches
  • Provide advice on company strategy
  • Select and use appropriate investigative and research skills
  • Demonstrate effective report writing skills
  • Work effectively in a team
  • Demonstrate good oral communication and presentation skills
  • Recognise and use their resources effectively
  • Demonstrate problem solving capability
  • Demonstrate a creative approach to communication

Assessment

  • 25% Group Presentation
  • 75% Case study

Managerial Economics

This module will serve as the foundation of competitive strategy, by developing your understanding of economic profit drivers, firm competition, price discrimination, integration, and strategic interaction between firms and economic externalities. Topics will include market dynamics and surplus, production, competitive environments from monopoly to oligopoly to perfect competition, factor markets, vertical and horizontal mergers and integration, strategic
interaction between firms and economic externalities in the context of public goods.

Learning Outcomes

On successful completion of the module, you should be able to:
  • Predict the effect of market forces on supply, demand and prices
  • Comprehend competitors' strategic response in decision making
  • Create pricing schemes to maximise profits
  • Evaluate the consequences of horizontal and vertical mergers
  • Critically analyse competitive environments for advantage
  • Identify key drivers of firms' competitive positioning
  • Recognise the role of and manipulating market forces for profitability
  • Ability to analyse press articles to understand economic consequences for firms in a competitive landscape
  • Development of strategic thinking, namely to consider how competitors will react to market manoeuvers
  • Critically reason over incentives in managing individual (e.g. consumer, employee or shareholder) behaviour 

Assessment

  • 100% exam

Business Planning

You will look at a variety of frameworks for assessing entrepreneurs, products, markets, and industries with a view to understanding the importance of thorough market analysis and research prior to planning a new venture.
 
The aim of this module is to equip you with the background knowledge on strategic positioning and the more practical aspects of business planning. 

Learning Outcomes

On completion of this module you should be able to:
 
  • Highlight the complexity of the innovation process;
  • Explain the importance of idea creation and opportunity spotting;
  • Create critical assessment of a potential product or service;
  • Explain strategic positioning of a novel business idea;
  • Analyse data and information in order to make effective decisions;
  • Recognise and apply self-reflection for personal development;
  • Demonstrate rational use of business and risk analysis tools to analyse company performance;
  • Demonstrate effective communication to persuade and influence stakeholders;
  • Evaluate the funding needs of a new venture;
  • Select and use appropriate investigative and research skills;
  • Demonstrate effective report writing skills;
  • Work effectively in a team and demonstrate recognition of an individual’s contributions to a group activity;
  • Demonstrate a positive attitude towards a commercial opportunity;
  • Spot or create an opportunity for a new product or service;
  • Successfully manage a project from idea to completion. 

Assessment

  • 100% Coursework

Applied Business Statistics

By the end of this module you will be able to make informed assessments of the design and construction of quantitative data sources and their implications for analyses in support of business decisions. You will learn how to appropriately prepare and analyse quantitative data using statistical software and will apply and interpret a range of forms of statistical analysis competently.
 
The module will focus on concepts, methods and skills central to quantitative analysis, including data collection approaches and concept operationalisation. Coverage of techniques will extend from bivariate to multivariate analysis approaches, but also include techniques relevant to specific analytical goals (e.g. factor analysis, principal components analysis and cluster analysis).
 
Teaching methods will include a combination of practical classes and workshops. Students will gain hands-on familiarity with relevant quantitative methods to support business decisions. 

Learning Outcomes

By the end of the module, you should have a critical appreciation of:
 
  • Critically reflect on and provide well-grounded reflection on the appropriate type of quantitative analysis required for specific business decisions
  • Understand the validity and robustness of the findings reported in analyses in support of business decisions
  • Critically reflect upon the presented results and the extent to which these support conclusions drawn
  • Identify parts of a business challenge that require quantitative analysis
  • Develop an approach for the quantitative analysis in support of a business decision
  • Perform and evaluate the results of basic quantitative methods (such as correlations, Chi-2, factor analysis, regression analysis)
  • Be able to determine the extent to which analysis presented is appropriately researched
  • Be able to challenge quantitative analysis presented, and suggest possible additional analyses
  • Select and use appropriate quantitative research approaches
  • Demonstrate effective understanding of decision-making underpinned by quantitative analysis 

Assessment

30% assignment
30% assignment
40% report

How you'll be assessed

You will complete a combination of written and practical assessments, which may vary depending on the module choices you make. You can expect to complete essays and reports of varying lengths, as well as presentations, proposals and pitches in some cases. For information about the assessments you will be expected to complete for each module, please see the compulsory and option module lists for this programme.

How you'll study

Seminars
Lectures
Tutorials
Independent study
Group work

Your personal and professional development

The Institute for Innovation and Entrepreneurship at Loughborough University London is committed to helping you develop the skills and attributes you need to progress successfully in your chosen career.

Future career prospects

As well as the ability to set up their own venture, graduates of this programme have the skills to progress into large blue chip companies and work in R&D management, developing new products, markets and customer segments.

Graduates also have the opportunity to enhance their knowledge and career prospects further by undertaking an MPhil or PhD programme.

Your personal development

Each module includes inspiring guest lectures from successful entrepreneurs and business leaders across a range of industries.

Enterprise Through the Curriculum is an intrinsic element of every master’s programme at Loughborough University London and has been carefully designed to give students the best possible chance of securing their dream role. From employability profiling to live group projects set by a business or organisation, and from site visits to organisation-based dissertation opportunities, Loughborough University London is the first of its kind to develop a suite of activities and support that is positioned as the underpinning of every student’s experience.

Fees and funding

UK/EU:
£13,500
International:
£24,500

Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment. Special arrangements are made for payments by part-time students.

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