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Welcome.: Innovation and Entrepreneurship in Healthcare Module Code: MOD005917 Module Leader: Carmelita Charles

This document provides an overview of a module on innovation and entrepreneurship in healthcare. It outlines the session objectives, which include identifying stages of the entrepreneurial cycle and components of the business model canvas. It also discusses acquiring resources and managing entrepreneurial projects. The document describes using the business model canvas and assigning homework that involves analyzing the entrepreneurial lifecycle depicted in the film "The Founder". Groups are tasked with answering discussion questions about acquiring resources and effectuation. Resource acquisition strategies and taxonomy are presented. The session concludes with a group activity analyzing innovation themes on the Fraunhofer website.

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Alejandro Cardona
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55 views

Welcome.: Innovation and Entrepreneurship in Healthcare Module Code: MOD005917 Module Leader: Carmelita Charles

This document provides an overview of a module on innovation and entrepreneurship in healthcare. It outlines the session objectives, which include identifying stages of the entrepreneurial cycle and components of the business model canvas. It also discusses acquiring resources and managing entrepreneurial projects. The document describes using the business model canvas and assigning homework that involves analyzing the entrepreneurial lifecycle depicted in the film "The Founder". Groups are tasked with answering discussion questions about acquiring resources and effectuation. Resource acquisition strategies and taxonomy are presented. The session concludes with a group activity analyzing innovation themes on the Fraunhofer website.

Uploaded by

Alejandro Cardona
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Welcome.

Innovation and Entrepreneurship


in Healthcare
Module code: MOD005917
Module Leader: Carmelita Charles
Email:
[email protected]
Week 4 session 1
Ground Rules
• Respect ( find out what it means to me)
• Valuing contributions –everyone has the right to
express their opinion
• Everyone has the right to be listened to and have
their views acknowledged
• Arguments will be challenged
• It is ok to laugh and have fun
• Zoom Online Etiquette
• Time Management
Aims and Objectives
By the end of this session you will:
• Have identified different stages of the entrepreneurial cycle
• Have examined the different components of the Business
Model Canvas
• Have identified critical factors involved in acquiring resources
• Have identified critical factors for the management and
excuation of a entrepreneurial project
• Have engaged in a peer activity
The Business Model Canvass
The Business Model Canvas
Watch the Film: The Founder
https://www.youtube.com/watch?v=AX2uz2XYkbo
Homework: watch the film Founder
Questions for discussion
Please watch the film The Founder. Then, answer the following
questions:
1. Outline the entrepreneurial lifecycle of McDonald. In particular,
describe the way the need or problem was identified, the way
the idea was created, the way the business model was generated,
the resources acquired over time, and the way the business was
scaled up.
2. Identify different moments of iteration in the search phase of the
customer development process.
3. Analyse how the brothers McDonald and Mr Kroc were dealing
with the acquisition of resources to develop the business. In
particular, identify examples of effectuation from the case.
Group work: 30 minutes
In your presentation groups provide the answers to the homework
questions on a word document to be shared with the whole group
1. Outline the entrepreneurial lifecycle of McDonald. In particular,
describe the way the need or problem was identified, the way
the idea was created, the way the business model was generated,
the resources acquired over time, and the way the business was
scaled up.
2. Identify different moments of iteration in the search phase of the
customer development process.
3. Analyse how the brothers McDonald and Mr Kroc were dealing
with the acquisition of resources to develop the business. In
particular, identify examples of effectuation from the case.
Resource Acquisition
• Acquisition of resources to begin venture
• Lack of money frequently the cause of entrepreneurs
postponing or cancelling a venture
• entrepreneurs first determine the goals they want to achieve
and secondly search for resources to achieve those goals.
• Saras Sarasvathy developed the concept of effectuation as an
alternative way of proceeding when starting an
entrepreneurial venture. Her investigation focused upon 30
founders of companies and revealed some surprising but
teachable principles: the rationality of these founders was the
inverse of causal. They used effectual reasoning.
Resource Acquisition
• As defined by Sarasvathy:
“Effectual reasoning … does not begin with a specific goal.
Instead, it begins with a given set of means and allows goals to
emerge contingently over time from the varied imagination and
diverse aspirations of the founders and the people they interact
with”

• [Lorenzo, Oswaldo/Kawalek, Peter/Wharton, Leigh.


Entrepreneurship, Innovation and Technology]
Resource Acquisition
• The first principle of effectuation is “working with your
means”, and there are three main categories of means to all
individuals: who am I, what I know, and who I know.
• The history of entrepreneurship brings up many examples of
how this effectuation works. It might be surprising but the
Starbucks coffee chain provides a good case study.

• [Lorenzo, Oswaldo/Kawalek, Peter/Wharton, Leigh.


Entrepreneurship, Innovation and Technology]
Resource Acquisition
Resource Acquisition
• Karlene Sinclair-Robinson’s10 top sources of financing, based
on her own book. These are (1) personal financing,
• (2) personal credit lines,
• (3) family and friends,
• (4) peer-to-peer lending,
• (5) crowdfunding,
• (6) microloans,
• (7) vendor financing,
• (8) purchase order financing,
• (9) factoring accounts receivables, and (10) IRA financing
Resource Acquisition
Diaz, Lorenzo and Solis Taxonomy
Diaz, Lorenzo and Solis Taxonomy
Diaz, Lorenzo and Solis Taxonomy
Diaz, Lorenzo and Solis Taxonomy
Diaz, Lorenzo and Solis Taxonomy
Comfort stop 15 minutes
Group Activity: 30 minutes
In your groups research go to the Fraunhofer website and
research two themes. One of the themes must be health.
Prepare a PowerPoint slide with your findings to feedback to
the whole group
• Fraunhofer is currently Europe’s largest organization for
applied research, with more than 13,000 staff sharing a total
budget of 1.3 billion euros: “People need health, security,
energy, communication, the environment and mobility. These
are the main challenges that occupy everyone’s attention
today. And it is on these six thematic fields that we focus our
research capacities.” See more about this organization at its
webpage: www.fraunhofer.de/en.html
Rachel Cashman Leading Innovation
Kings Fund 22nd November 2012
https://www.kingsfund.org.uk/audio-video/rachel-cashman-
leading-innovation
NHS Digital
The past, present and future of innovation to support and
empower the patient
By Hazel Jones and Jackie Tatterton. 13 July 2018
https://digital.nhs.uk/blog/transformation-blog/2018/the-past-
present-and-future-of-innovation-to-support-and-empower-
patients
Please read the blog on line or you can download the word
document on the VLE
Useful Resources
• Barlow J (2017) Managing Innovation in Healthcare. World
Scientific. London.
• Bessant J and Tidd J (2011) 3rd edition Innovation and
Entrepreneurship. Wiley. West Sussex.UK
• Lorenzo O, Kawalek p, Wharton L (2018) Entrepreneurship,
Innovation and Technology: A Guide to Core Models and Tools.
Routledge Focus. London
Useful Websites
• LGA www.lga.gov.uk
• NHS Digital www.digital.nhs.uk
• The King’s Fund Publications on innovation:
https://www.kingsfund.org.uk/events/leading-innovation
• Social Care Institute for Excellence (SCIE) www.scie.org.uk

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