Course Summary
This course seeks to develop an understanding of the fundamentals of innovation and design thinking including business strategies and tools needed to enhance performance and competitiveness in the food industry. These strategies and tools are aligned with the new digital and technology-driven business reality where the need to continuously innovate as demanded by customers.
You will learn how to create, evaluate and extend compelling food value propositions and design a business model that will allow for entry into the marketplace. Each participant will learn how to apply design thinking methodology to research, develop and implement their food idea. They will also understand how theory, tools and industry information can be applied to align with internal and external stakeholders' requirements for market performance.
The learning outcomes will allow students to understand how to fit all the business and product pieces together to execute a pathway for a successful food business. Each student will have the knowledge and tools to understand:
- how to have an entrepreneurial mindset;
- how to design and undertake market research:
- how to evaluate novel ideas:
- how to bring a new food idea to market;
- how to apply innovation techniques to extend or add a new product to an existing organisation; and
- how to present and sell your idea to an audience of venture capitalists or funders.