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Now is the time to unlock your potential through business innovation

We spoke to Chunjia Han, Programme Director of the new MSc Business Innovation programme, about how businesses can unlock their potential and gain a competitive edge, now and into the future.

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The programme is valuable for entrepreneurs and leaders at start-ups or smaller enterprises who want to design their business model to support innovation as they grow.

Innovation is playing an increasingly important role for businesses of all shapes and sizes, from start-ups to established multinational organisations. To pave the way to success, companies need skilled professionals who are able to find creative ways to add new value.

As the commercial world continues to recover from the global effects of the pandemic, many organisations are finding that their existing business models no longer meet the demands of their industry. If we’re going to stimulate growth in our national and international economies, we need to fill the skills gap in business innovation.

“Innovation is essential to driving businesses forward and achieving a higher level of performance, particularly in the digital economy.”

“Many business studies courses cover innovation management as a topic, but their main focus is to manage stability and maintain the performance of the existing business,” explained Chunjia. “For new business and business growth, we need to think much more creatively.

On this programme we explore the different aspects of business innovation in much more detail. For example, we talk about how to create innovative business models that can add real value for new and established businesses alike. Airbnb is a great example of a start-up company that has achieved great success using the sharing economy as their business model.

Businesses can also benefit from innovative thinkers when it comes to their product design or service offering. “Innovation strategy gives companies a clear picture for how their products or services can meet emerging demands in their market.

“For high tech companies, a good innovation strategy can help them make their research and development activities more efficient, generating more effective results that can boost their market performance. Tesla, for example, not only produces innovative products, but their other innovation activities have stimulated their business success.”

The programme is designed for professionals from businesses of all sizes. It’s ideal for people who work for large organisations and are looking to introduce creative new ideas to get ahead of the competition, or to move into higher level roles that are more focused on innovation. It’s also valuable for entrepreneurs and leaders at start-ups or smaller enterprises who want to design their business model to support innovation as they grow.

Wherever you are in your professional journey, you will find modules on the MSc Business Innovation programme to support your career ambitions.

“We like to find ways to combine our students’ existing knowledge with new knowledge that we share on the programme. We’ve designed the modules to include case studies from a wide range of industries so that students can enhance their knowledge and apply it to their own industry or area of expertise. That might be product development, strategic development or research and development collaborations.”

Throughout the programme you’ll have the opportunity to learn from guest speakers who share their valuable business expertise. With access to industry experts, real-world case studies and an international network of peers, there are plenty of opportunities for you to build your network as well as your skill set.

We find that knowledge transfer across different industries is common in the business world. Thanks to the global reach of our programme, it’s the ideal place to discover diverse business practices that students can apply to their own field.

The Business Innovation programme not only gives you the theories, principles and tools needed to analyse and manage innovation, but you will also build your capability to apply this to your own business practice. “You’ll be able to identify challenges and develop operational and strategic solutions specific to your industry,” said Chunjia.

Whether you’re a manager in an organisation seeking to drive change in your business, you aspire to work on a consultancy basis, or you’re an entrepreneur looking to establish a dynamic business model for the future, the MSc Business Innovation programme from the University of London will give you the skills and knowledge you need to succeed.