30529 - ENTREPRENEURSHIP AND STRATEGIC INNOVATION IN THE FASHION INDUSTRY
Course taught in English
Go to class group/s: 31
Background knowledge in business policy and basic accounting is recommended.
The course proposes an experiential learning solution to develop the skills most critical to success in today's business landscape: design and plan innovative business models. The course has an industry perspective, fashion and luxury and explores key topics such as sustainability and digitalisation. Students will learn how to design innovative business models with the support of a simulation software allowing them to develop a practical approach integrating creative ideas with competitive and economic dimensions. Action learning is becoming very relevant today particularly when topics are complex and multi-faced as business models innovation and planning. Students can see the immediate consequences of their decisions and learn what it’s truly like to juggle competing priorities amidst a constant influx of information provided by the professors. The learning process will be enhanced by the collaboration of external guest speakers and a start up accelerator.
Key topics include:
- Pillars of business models in fashion.
- Entrepreneurship in fashion.
- Drivers for strategic and business models innovation (sustainability, technologies, customers, product offers).
- Business planning.
- Define the drivers of entrepreneurship
- Identify key pillars of a business model in fashion (value propositon, value chain design, revenue model) and drivers for strategic and business model innovation.
- Analyse drivers for growth in fashion (brand and line extension, vertical integration, internationalisation) and the quest for sustainability in fashion and luxury.
- Understand the importance of IP protection in innovation management.
- Recognize how strategic choices in terms of product design, marketing, go to market, value chain design impact economic success and financial sustainability.
- Evaluate their entrepreneurship potential.
- Assess strategic options for long-term competitive advantage and international growth in businesses with major importance of creativity, branding and a global scope of activities.
- Design and develop business plans.
- Discuss and promote their idea and business plan in front of an audience
- Face-to-face lectures
- Online lectures
- Guest speaker's talks (in class or in distance)
- Exercises (exercises, database, software etc.)
- Case studies /Incidents (traditional, online)
- Group assignments
- Interactive class activities (role playing, business game, simulation, online forum, instant polls)
- Introductory sessions about entrepreneurship, business models innovation, sustainability in fashion and business planning techniques in fashion also with the support of guest speakers (approx. 30%). Action learning through the Business Game Simulation FAST to be carried out in 3 full days by students organized into groups with professors available for tutorship in dedicated session (60%), final plenary sessions wrap up (10%).
- The Business Game simulation FAST has a unique focus on fashion and the possibility of understand the impact of managerial decisions in these industries (i.e creativity models, make or buy in supply chain design, seasonal product offer size and scope, planning licensing contracts, opening stores, evaluating how to incorporate sustainability into the strategy and business processes…).
|Continuous assessment||Partial exams||General exam|
The attending students evaluation is 70% group based (the outcome of the business plan simulation FAST) and 30% based on a written individual test.
Students are evaluated on several factors: the knowledge of different business models in fashion and best cases and knowledge of the innovation drivers in fashion (individual test) and the ability to define an innovative entrepreneurial idea that they can protect, the ability to build a consistent and profitable business model for that idea, the ability to make the right strategic choices for global expansion and for a sustainable business (group assignment).
The evaluation is 100% based on an individual written test with a mix of open questions and multiple choice/answer aimed at assessing: knowledge of the concept of business model innovation with examples, knowledge of the creative process within symbol intensive companies and approaches to IP protection in innovation, capability to evaluate the impact of digital transformation on business models in fashion, how supply chains in fashion work, how investors evaluate sustainable business models.
Course handouts and supporting materials communicated as the course starts and uploaded on Blackboard
Course materials for non attending students available on Blackboard
S.Saviolo, Borney G.M. "The branded supply chain", Bocconi University Press, 2021 (selected chapters: 1-4-5-6-8-9)