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Innovation and Entrepreneurship Research Consortium (IERC)

Cloud created by:

Pravash Dey
25 April 2011

Innovation and Entrepreneurship Research Consortium (IERC) is a core part of Consulting Leaders Academy having a mission to identify, connect, educate, engage, inspire dynamic mindsets and celebrate success. We know that Start-Ups and SMEs are the backbone of the UK economy. So, Consulting Leaders Academy fosters entrepreneurship and innovation at grass-root level. The academy covers the entire process, from knowledge creation to commercial success, in five stages (Plan, Launch, Control, Grow/Expand and Exit).

  • Aim: The aim of this course is to give the learners the opportunity to focus on innovation and growth-based enterprise strategy and the processes involved.
  • Abstract: The course is designed primarily for learners who are interested in small business enterprises and looks for the management improvement and expansion of the businesses. This course is also appropriate for talents who have had internships or work experience in small businesses and wish to pursue their career in start-ups and serial entrepreneurship.

The Government's vision for the people in the UK is to have the opportunity, ambition and drive to be enterprising and taking steps to start their own business. Federation of small businesses (FSB) statistics shows that there are almost 5 million small businesses in the UK; almost 14 million people are working in the SMEs and around half- a million people start-up their businesses every year.

The aim of this module is to allow candidates to develop the knowledge, skills and mindset relevant to entrepreneurship and small business, including the abilities to identify opportunities and turn those opportunities into successful ventures. The department for Business, Innovation and Skills is responsible for small business and enterprise policy.

  • Learning Outcomes:

On successful completion of this course a learner will:

  1. Be able to identify innovation and growth-based enterprise project.
  2. Be able to evaluate opportunities for successful entrepreneurial ventures
  3. Be able to investigate innovative business models and innovation strategy.
  4. Be able to understand the processes of innovation and creativity and how to foster these to plan business objectives and incorporate the proposed plan.
  5. Be able to examine the sources of open innovation and high-tech start- ups.
  6. Be able to design and process multidisciplinary teams to drive the venture.
  7. Be able to investment ready.
  8. Be able to identify entrepreneurship in emerging economies and internationalise R&D activities by knowledge-sharing collaboration among individuals and firms.
  9. Be able to revise business objectives, implement proposed changes and examine the impact of change management on the business.

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