New Product/Service Development and Management

Code

BUSI4381

School

Nottingham University Business School China

Level

4

Credits

10

Semesters

Spring China

Summary

The management and organization of new product/service development in organizations. Critical activities in the new product development process. Contemporary practices, to include social innovation, co-creation and user innovation.

Target Students

Optional module for MSc Marketing

Classes

• One 2-hour lecture each week for 11 weeks

22 Contact Hours – 11 x 2 hour Lectures. The remaining 78 hours made up of: 33 hours reading, review of material and preparation for lectures; 45 hours revision and preparation for exam

Assessment

• 100% Exam 1 (2-hour): 2 Hour Examination

Educational Aims

Learning Outcomes

Knowledge and understanding
This module develops a knowledge and understanding of:

• The dynamics of the global economy and international business &/or an awareness
  of cultural, legal/regulatory, political, and economic differences across countries &/or an appreciation of management issues from a global perspective.
• Markets - the development and operation of markets for resources, goods and services
• Marketing and sales – different approaches for segmentation, targeting, positioning, generating sales, and the need for innovation in product and service design
• Customers and stakeholders - customer expectations, service and orientation
• The management of resources
• The management of projects
• Digital business – the development of strategic priorities to deliver business at speed in an environment where digital technology is reshaping traditional revenue and business models, associated risk management
• Business innovation – creativity, intrapreneurial – and entrepreneurial behaviour and enterprise development, and the management and exploitation of intellectual property 
• The importance of sustainability issues, including an understanding of the challenges
  and opportunities arising from the activities of people and organisations on the economic, social and environmental conditions of the future.
• Strategic management - the development and implementation of appropriate strategies within a changing environment

Intellectual skills
This module develops:

• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills

Professional practical skills
This module develops:

• The ability to recognise the need for and initiate change and to be able to manage change
• The ability to recognise and address ethical dilemmas, corporate social responsibility and sustainability issues, applying ethical and organisational values to situations and choices

Transferable (key) skills
This module develops:

• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
• High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict  resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience

Conveners

• Dr Yi Wang