Strategic Valuation: Uncertainty & Real Options in System Design
This course introduces students to the real options paradigm as a project design and evaluation tool. This paradigm emphasises the value of flexibility in project design and appraisal. For example, a small plant with an expansion option as opposed to building a big plant from the start gives the project manager the flexibility to expand if demand is high, without committing to high capacity a priori, thus avoiding "white elephants". Thus, flexibility has value. Flexibility also, however, costs money. So how much flexibility shall we build into the system? This course gives you with a mindset and a suite of tools to tackle such problems. We expect you to be familiar with probability and statistics at the level of an introductory undergraduate course.
Electricity & the Environment
This course provides a firm foundation in modern electricity policy with an emphasis on the UK, introducing you to a wide variety of mature and emergent electricity generation technologies and exposing you to the local, regional and global environmental effects of energy use. The course also introduces the key considerations of energy policy and develops frameworks by which progress against policy goals may be achieved.
Information technology is seen as having radically changed the internal operations of organisations, the structure of the markets in which they compete and both the opportunities as well as the challenges facing everyone who works in a contemporary organisation. This course critically assesses these changes, and the role of technology in social and organisational change more generally.
Entrepreneurial Science & Innovation Policy
This module addresses the role of scientific and technological knowledge in advanced economies, the role of universities in modern innovation systems, and their policy implications. Themes addressed in the course include how science and technology are funded; the mechanisms that govern the generation, diffusion and application of knowledge in the economy; how science and technology create value; the economic contribution of universities, and the role they play in the open innovation strategies of firms.
This course examines: the functions of research organisations within national, regional and sectoral systems of innovation; the dynamics of high-tech entrepreneurship in the science base; the rationale for public policy intervention in this domain; and the process of policy development, impact-generation and evaluation linked to public research activities.
Managing the Innovation Process
This course gives future practitioners an overview of some of the topics that have acquired special attention within the areas of innovation and new product development. A dominant characteristic of these topics is their cross-functional nature, which is reflected in the highly interdisciplinary mix of papers presented throughout the seminar.
Management of Technology
This course gives you an understanding of the ways in which technology is brought to market. It does this by focusing on key technology management topics from the standpoint of an established business as well as new entrepreneurial ventures. Strong emphasis is placed on frameworks and methods that are both theoretically sound and practically useful.
We seek to give you: a thorough appreciation of how technology is brought to address market opportunities, and how technology management supports that process; the ability to assess and utilise appropriate technology management methods in different contexts; an understanding of the core issues of technology management and the practical means of dealing with them in an engineering context.
Competitive Strategy in the Digital Age: Platform Markets, Network Effects & the New Rules of Strategy
In this course you learn how technologies and platforms are developed and leveraged by firms to attain competitive advantage. The course also examines various other challenges that firms currently face including monetisation of online communities, overcoming strategic advantages provided by winner-take-all networks, multi-sided markets, direct and indirect network effects, role of complementors and much more. We discuss real-life cases of a range of industries. Through the application of analytical tools and frameworks in a wide variety of situations you'll become familiar with the various situations in which managers have to craft strategies and the process that they follow to do it.