Study Guide

Objective

Student understands the interactions among global, regional, national, and subnational economic processes over resources and market dynamics. She/He understands their effects on economy with respect to economic growth, the environment and interactions among market forces and political institutions. She / He knows how to use scenario technique to forecast future. The student identifies and is able to nominate global (consumer/business) trends. She / He understands the importance innovations in business. She / he makes oneself familiar with the innovations especially in her /his business branch. She / he is able to create new business concepts, describe process and understands the needs of resources in new businesses.

Content

Future forecast methods, scenario
Scenario in practice
PESTEL analysis
Global trends and megatrends
Innovations and creativity
Innovation process + innovation methods
Innovation management
Business concept, process and resources
Creation of a new business concept

Location and time

Teams, Spring 2023

Materials

All learning material can be found in Reppu

Teaching methods

Lectures, Individual Course Work / Essay

Student workload

5 credits = 135 h work

Content scheduling

Global, regional, national, and subnational economic processes and market dynamics
Future research with basic concepts
Foresight in strategic decision making
Importance of innovation
Global trends and megatrends
PESTELE analysis
Foresight tools, future forecasting methods
Utilization of scenarios in practice
Innovation process and innovation management
Business concept, process and resources
Creation of a new business concept

Evaluation scale

0 - 5

Assessment criteria, approved/failed

Assessment criteria Pass/Fail
The student understands the importance of forecasting and new innovations in their business sector. The student understands and applies the theories and tools of new business innovations and can contribute to innovation processes in his/her own work and operations. He/She is able to evaluate and develop the innovation process and innovation management in his/her own businesses. The course assignment meets the requirements of a written report.

Assessment methods and criteria

Individual course work essay following academic writing principles.