Departing from strategy theories to the literature of innovation/entrepreneurship, as the goal of this seminar course, we have to deals then with what we label 4 Is: Imagination, Ideas, Invention and Innovation; in other words, 4 Is focus on the discovery, creation and exploitation of new things, with advances from which society benefits through new value propositions better serving the needs of society. The organization, either a new or an existing one, in turn benefits from the value it creates by accruing or developing resources in excess of those it consumes. This advantage allows accrual of resources that can either be distributed to owners, or more generally to stakeholders, or be used for further innovation, and ultimately growth.
For this course, innovation and entrepreneurship mean much more than new products/process or the daring acts of risk-takers. Instead, this course aims to encompass different views of innovation and entrepreneurship which add value either to organizations, industries or to society as a whole. For instance, entrepreneurship usually starts with imagination, insight and unorthodox ideas that lead to changes, but what makes entrepreneurship strategic is more complicate and the main subject of our discussion.