Big Data, IoT, Cloud, AI - digital technologies are revolutionizing core organizational processes and competencies of both established companies and start-ups faster than ever before. These technologies enable companies to generate innovative digital products and services, as well as new forms of relationships with suppliers, customers, complementors, and employees. However, the digital transformation has also created immense challenges, forcing companies to review, transform and adapt their existing business models. These opportunities and challenges for existing businesses call for a systematic and efficient way to create, evaluate and implement new digital business models. Transforming their business model is of paramount importance, especially for companies within the industrial sector, as they often struggle to understand digital technologies as an integral part of business innovation instead of a pure support function.
In this course, students will learn how digital technologies transform the industrial sector and how to find new ways to create and capture value in B2B and B2C contexts. Participants learn and train selected instruments, methods, and competencies necessary for identifying and developing new business opportunities driven by digital technologies. Relying on digital business model innovation, you will enable the project partner to reinvent their business for their future success - leading the digital transformation in their industry.
During the course, students will slip mentally into the "role" of a digital transformation consultant, working together with their team to solve specific, highly relevant business problems. In tight cooperation with our project partners (digital start-ups and scale-ups as well as established industrial companies), students will (1) explore the potentials and develop a basic understanding of new digital technologies (2) analyze companies’ existing business model, (3) create and evaluate digital business model innovations, and (4) design a new, concrete digital business model for the project partner. Each team will receive continuous assessment and feedback from the course instructors. Experts and management consultants specialized in digital transformation and business model innovation (e.g., PwC Digital Lab, Google, Accenture, IPlytics) will provide additional support.
The E&I course Digital Industrial Innovation is one of the application-oriented project courses. The course aims to deepen and extend the students' theoretical skills through practical application to a real case.
After positive completion of E&I Digital Industrial Innovation, students can
- comprehend the relevance, impact, and potential of disruptive technological innovations for the business models of companies
- understand the resulting challenges for traditional industrial companies
- analyze, describe and evaluate existing business models
- apply methods to systematically and creatively search for new business models
- use instruments for the efficient evaluation of competing business opportunities
- structure complex problems
- successfully manage innovation projects (i.e., unclear and poorly structured)
- gather fundamental learnings in professional teamwork can manage external stakeholders (professional interaction with project partners)
- prepare complex issues (and project results) in a structured and understandable report and present them convincingly
- work in an agile environment
In addition, participants expand their soft skills (communication, presentation, project, and time management) by working with team members, coaches, and external partners
- 80% attendance rule
- Kick-Off: Tuesday, October, 5th and Wednesday, October 6th
To complete this course with a positive grade, students must attend 80% of scheduled classes (exception: 100% attendance at literature test, kick-off, mid-term and final presentation, as well as the E&I Touchdown event).
E&I Digital Industrial Innovation consists of classes for all students and individual team coaching sessions. There will be short standup sessions each week (about 15 minutes). Additionally, each team can individually schedule up to three in-depth coaching sessions with the lecturers. Furthermore, there will be a mid-term and a final presentation of the project. Each team individually schedules a time slot with the lecturer and the project partner within the period of
- November, 22 – 24, 2021 (mid-term presentation)
- January, 22 – 16, 2022 (final presentation)
Except for the literature test and kick-off, all other dates shown are subject to change! More detailed information is provided at the introductory event and the kick-off. Most dates are either arranged individually with course instructors and project partners or take place externally. This is not unusual for innovation projects. Exact dates for the presentations, workshops, and coachings will follow at the Kick-off.
The final grade in the course will depend on:
· literature test (in English / literature according to Learn@WU) (20 out of 200 points)
· engagement in the project (attendance, contribution to classes, coachings and workshop, ability and willingness to implement feedback) (50 out of 200 points)
· presentations (mid term & final presentation) (50 out of 200 points)
· reports (midterm & final report) (60 out of 200 points)
· 5% Touchdown video (adherance to deadlines, implementation of feedback and quality of pitch) (10 out of 200 points)
· 10% Reflection paper (10 out of 200 points)
Additionally, there will be mid-term and end of term peer ratings of the team members which may result in individual up- or downgradings.
Literature test: The aim of the compulsory literature test (01.10.2021 betweeen 8.00am and 9.00am) is to examine the necessary basic as well as specific knowledge in order to successfully work on your project.
If the literature test is not successfully passed, the Analyst Support Program (ASP) will be automatically applied. Within the Analyst Support Program, an individual performance has to be carried out in the further semester course, instead of the group work. In case of non-participation (only due to illness), a medical certificate must be presented. An alternative date will be offered for this purpose. You will receive detailed information about the content and location of the test after registration to the course.
Attendance: In order to successfully pass this course, your absence is limited to 20% of our appointments. Please note that the attendance of the literature test, the kick-off, the presnetations with our project partners and the E&I Touchdown is obligatory!
Students enrolled in the Entrepreneurship and Innovation Specialization Program.
Please note that course registration is binding. The moment your registration is received, it is regarded as a clear commitment on your part. Students cannot transfer to another course (once the add/drop period is over) with no exceptions, as it would be unfair to other students (who might not have gotten into the course of their choice because of the spot you registered for). The number of students accepted to the course will only be expanded if there is no space in any other course 4/5.
Attention: the obligatory literature test will be held on 1 October 2021 between 8 and 9 am. Course participation is only possible by passing the literature test – if you cannot attend the test, we kindly ask you to not register for this course. Detailed information regarding contents and location of the test will be provided after the registration phase for this course. The literature test in this course overlaps with other courses within Course 4&5 of the specialization Entrepreneurship & Innovation. A parallel attendance of these courses is not possible.