Unit BIE301: Innovation for Business

Unit code: A/615/4770

RQF level: 3

Aim

The aim of this unit is to introduce the learner to innovation in a business context. Learners will understand the innovation management and its role in developing business. Learners will recognise the value of innovation for business and the role it takes in a business life cycle.

Learning Outcomes and Assessment Criteria

Learning Outcomes. To achieve this unit a learner must:	Assessment Criteria: Assessment of these outcomes demonstrates a learner can:
1. Be able to understand innovation management for business development	1.1 Define the term ‘innovation management’ 1.2 Explain the impact of knowledge on innovation management 1.3 Explain the importance of building innovative systems for business development and growth
2. Be able to identify the value of innovation for business	2.1 Discuss the roles of information technology innovation for business value creation 2.2 Identify how to create value of business through business model innovation 2.3 Identify how to create competitive advantages with innovation in business
3. Be able to understand management of innovation in business development life cycle	3.1 Explain main stages of business development life cycle 3.2 Identify the needs of innovation for business development 3.3 Explain how organisations resource their innovation capabilities and activities 3.4 Explain how to plan, identify and manage innovation as an on-going process at each stage of business development life cycle