Creativity and Venturing

Learning Outcomes

Upon completion of this minor, the student can demonstrate knowledge and comprehension in design thinking/doing and in the lean-start up methodology, as the core processes enabling the exploration and exploitation of new opportiumities. Further, the student can demonstrate knowledge and comprehension on how the process of exploring and exploiting new opportunities takes place in the context of an existing company, by drawing on the corporate innovation, corporate venturing, and corporate entrepreneurship literatures.

Further, the student graduating from this minor can gain deeped understanding of this process by analyzing, evaluating, and reflecting upon:

1. how new business opportunities can be identified and vetted within existing companies or in collaboration with third parties in the broader ecosystem of an existing company;
2. How resources are harnessed in companies to incubate identified opportunities; and
3. How those new business models (or opportunities) can be championed and launched into the market.

Lastly, the student can apply his/her knowledge in creativity and ventutring and develop practical experience by prototyping and validating new business models from business opportunities in existing established companies, and by enabling the integration of new ventures within existing companies. Along these lines, the student of this minor can also reflect upon the capabilities that he/she needs to develop as an individual to pursue entrepreneurial opportunities and champion them by building viable and valuable new initiatives for an existing company.

Content and structure of the minor

Success in new business development for established organizations requires: a) the identification and refinement of unique growth opportunities (ideation and creativity); b) the deployment of appropriate resources needed to build new business models from those opportunities (incubation); and c) the championing and launching of those new business models to market, with the intent to merge them successfully with the incumbent company (acceleration and integration).

The Creativity and Venturing minor provides students with the knowledge, concepts, and tools to develop knowledge and capabilities that enhance their effectiveness in creating, nurturing and exploiting new business opportunities from within existing organizations and/or through the collaboration with parties in the broader ecosystem of an organization. Such expertise is required is required in leading and transforming existing organizations by building and championing growth-oriented new business.

Thus, this minor enables the students to understand the important linkage between creativity, organizational innovation, corporate venturing, and corporate strategy for the successful creation of sustainable new businesses from within incumbent organizations. It prepares graduates for a holistic understanding of how business opportunities can be successfully explored and exploited by established organizations. As a result, the minor prepares the student for many career options including new business development, venturing, and innovation functions in corporations; management consulting; founders/CEOs in startups, positions in venture capital and private equity firms or other organizations building and transforming technology-based business.

 *) to be agreed in advance with professor in charge of the minor.