Societal ‘Grand’ Challenges & Introduction to Business Model Innovation
In this session we introduce students to the course and discuss the UN Sustainable Development Goal (SDG) framework and discuss characteristics of business models and business model innovation. This course gives a strong foundation for students to learn key entrepreneurial skills.
Content
- Societal ‘Grand’ Challenges and United Nations Sustainable Development Goals
- Defining solutions and designing your own Business Models
- Systematically understand, design & differentiate new business models
- Facilitate innovative ideas for novel products and services
- Difference between market-pull and technology-push
- Real life examples to understand innovation in business models
Learning outcome
- Critical understanding of societal ‘grand’ challenges, business models and innovation
Project Introduction & briefing
Students will be allocated in small groups, identify a business idea to address a problem from one of the UN’s SDGs.
Designing Business Models, Rapid Prototyping and ‘Open’ Innovation
In this session we discuss the business model canvas and review business model canvas characteristics of business models and business model innovation.
Content
- Business model canvas
- Rapid Prototyping of business models for real life examples
- Four steps to developing a business idea
- Analyse and evaluate your own enterprising skills and entrepreneurial attributes using a SWOT analysis
- ‘Open’ Innovation
Learning outcome
- Critical understanding of what you do well, to address what you're lacking, to minimize risks, and to take the greatest possible advantage of chances for success.
Creativity and Ideas Generation
This session helps students "to think outside the box" to generate ideas. The techniques presented and tried during the session are particularly useful for people who do not believe they have time to think differently due to the pressures of daily life. The session will take students through a pragmatic 6 stage problem solving process. Students will apply the process from problem definition through to implementation.
Team building Workshop
Through the medium of practical exercises and guided review, students will explore ways in which team performance can be enhanced. The session will give students the opportunity to participate in a range of fun tasks designed to highlight common ways in which team performance can come unstuck and the behaviours that can mitigate against this.
Sustainable Cities and Communities
As the world's population continues to grow and urbanize there is an urgent need to create cities that are sustainable, liveable, and resilient. The United Nations' Sustainable Development Goals (SDGs) provide a roadmap for achieving this vision, and technology is playing a key role in enabling us to reach these ambitious targets. In this lecture we will explore some of the most promising technology themes that are driving the development of sustainable cities and communities. From smart grids and energy storage systems to circular economy technologies, digital platforms for citizen engagement, and advanced water management systems. These technologies are helping us to reduce waste, promote resource efficiency and create more equitable and liveable urban environments. We will also examine several case studies that illustrate how these technologies are being applied in practice and their impact on achieving the SDGs. We will conclude with a roadmap of technologies for sustainable cities for the year 2050.
Entrepreneurial Finance
In this session we introduce the fundamentals of developing a successful business. The students will learn about finance for entrepreneurial ventures.
Content
- Understand key elements of Entrepreneurial Finance
- Statement of Financial Position (Balance Sheet), Profit & Loss a/c, Cashflow Statements
- Net Present Value – valuation models
- Introduction to financial forecasting template
- Competitive advantage for new business models
Learning outcome
- Developing fundamentals for successful business
Strategic Management & Competitive Advantage
In this session, students will be exposed to various frameworks used to cultivate enduring competitive advantage by business.
Content
- Industry Analysis – Michael Porter 5 Forces
- Value Chains
- Competitive Advantage
- Core Competencies – Hamel and Prahalad
Learning outcome
Understanding of parameters that drive enterprise competitive advantage
Business plans and Effective Pitching Skills Workshop
In this practical session, students will learn about business plans consolidating learning from earlier weeks and be exposed to importance of pitching skills for entrepreneurial impact. This session will prepare the learners for the final week of pitching.
Content
- Introduction to writing Entrepreneurial Business Plans
- Synthesising from first principles
- How to write an impactful business plan
- What investors look for?
- Pitching skills for your idea to raise investments and generate revenue
Learning outcome
- Effective entrepreneurial communication
Implementation for Impact and Risk Management
In this session, students will be exposed to various techniques in project implementation/management and other practical issues for entrepreneurship. This session will be focused on implementation concerns for entrepreneurship and risk.
Content
- Project Management
- Project Planning and Control
- Practical Matters – Legal etc.
- Risk Management
Learning outcome
- Effective in early stages of entrepreneurship implementation and risk management
Developing effective networks and communicating your idea for investment
In this session, students will be exposed to various techniques to be effective in networking and communicating their entrepreneurial idea with a business plan and an effective business pitch.
Content
- How to build and maintain effective networks (networking)
- Real life examples of commercial gains from networking
- How to write an impactful business plan
- Pitching your idea to raise investments and generate revenue
Learning outcome
- Effective in early stages of entrepreneurship through networking and effective communication
Project presentation - pitching to panel
The goal of the group coursework is to consolidate learning while inspiring potential ideas and solutions to the UN’s Sustainable Development Goals (SDGs). In your pre-defined groups, identify a business idea to address a problem from one of the UN’s SDGs. Based off the learnings of the course, you need to develop a business model for this idea.
Content
- Pitch your business idea
- Best presentation award
- Feedback from jury
Students need to prepare a PowerPoint and financial excel with an elevator pitch. This pitch should include the following: Introduction to team; details of the goal selected, and why; a business opportunity that addresses that SDG; using the required reading (Porters 5 forces), an analysis of the current market environment for that business opportunity.
Dr Ebrahim Mohamed is an innovation expert and formerly Director of Executive MBA programmes at Imperial College Business School where he worked for over 20 years. Ebrahim was one of the founding team members of the Imperial Entrepreneurship HUB and received the prestigious Imperial College Graduate School Award for contribution to Innovation/Entrepreneurship (transferable skills) programme. Ebrahim has mentored executives, young professionals and entrepreneurs for over two decades from the elite institutions of the UK and Europe.