MLD 350 Innovation Development and Entrepreneurial Thinking

Lecture Hours: 5
Credits: 5

Provides participants with the basics regarding innovation and entrepreneurship, market analysis and customer engagement as well as innovation for business development. Develops an understanding of the differences between innovation and entrepreneurship and how the two work in conjunction to create dynamic organizations. Participants will learn about the importance and relationship between the skillset, toolset and mindset of entrepreneurship. Explores the workforce for today and the future of creativity along with risk management tolerance required after implementation of new thinking.

Prerequisite: Prerequisite:Admittance into Applied Baccalaureate Program; completion of AAS degree; or consent of instructor.
Student Learning Outcomes:

Explain what innovation and entrepreneurial thinking means to business development.
Demonstrate how to use entrepreneurial thinking for implementation in developing a business.
Produce a plan to foster creativity within a business.
Identify requirements for managing the risks inherent in a business for business growth.

Content Outline

Innovation and Entrepreneurial Thinking
- Think critically and creatively about opportunities, resources, and industries.
- Research changes in business development by innovative entrepreneurs.
Development of a New Business Model
- Create a model for a new business focused on new product or service.
- Identify a business which will innovate a present operating business.
Create an Employee Working Plan
- Produce an outline for a broad employee plan for creative involvement.
- Develop an operational for in person and remote workers.
Identify Risks to Manage
- Establish risks inherent in new development businesses.
- Create a management plan to address risk tolerance.