This course, the summative experience for the Eller Undergraduate program, will explore the concept and avenues of innovation, broadly conceived, and its practical counterpart, entrepreneurship, as they connect to competitive advantage for individuals, institutions, even countries, with a particular focus on innovation in a 'wicked problem' domain. The course will thus provide students the opportunity to integrate and apply their cross-functional training to a real-world challenge of current interest to industry, policy makers, and society at large. The focus of the course is a semester-long innovation project through which students will learn and execute the components of the innovation process from the identification of a need or problem in the environment through the development of a coherent, viable plan for its fulfillment or solution. Both underlying knowledge and specific skills relevant to innovation will be covered, including conceptions of innovation; the innovation cycle; the innovation 'system' and regulatory environment; methods of environmental scanning and industry structure analysis; design thinking and creativity; scenario planning; intellectual property; strategic and organizational aspects of innovation success or failure; product/service development; estimation/projection/valuation; and plan development and presentation. The course culminates in a plan competition, with awards.
Major: ACCT, BMGT, BNEC, ENTR, FIN, MIS, MKTG or OPER