Students gathered around a computer

MSc Entrepreneurship and Innovation

With a strong focus on the practical application of theory, this programme equips able business and non-business graduates with the knowledge and skills they will need to be more innovative and enterprising in their future careers.

About The Course

Whether you want to start your own business, work as an innovator in an existing company, take over a family business, or work in entrepreneurship fields, this is the right programme for you.

This course emphasises the combination of theoretical rigour and practical experience. It benefits from the academic excellence and broad business networks provided by the Department of Entrepreneurship, Strategy and Innovation, learning cutting-edge theory and models of entrepreneurship and innovation directly from leading professors in the field. Our students not only develop the knowledge and skills that are necessary to undertake a career in business, they also learn to think “out-of-the-box” in order to identify new business opportunities and develop innovative solutions in the contemporary business world.

In partnership with our Entrepreneurs in Residence, you will be constantly exposed to the practice of entrepreneurship, offering many opportunities to test and foster new business ideas, and access to mentoring and career guidance from successful entrepreneurs.

Key Facts


12-month course, starts in October


Designed for entrepreneurial graduates looking to gain specialist knowledge of entrepreneurship and innovation.

30

Average class size

Course Content

Discover the topics you will study on the MSc Entrepreneurship, Innovation and Practice.

The programme begins with an induction week during which you learn more about the various elements of the programme and the facilities available within the School and University. You also take part in teamwork exercises and other academic and social activities designed to help you get to know one another before the formal part of the programme. In the first term, you take the following foundation modules:

  • Introduction to Entrepreneurship

    In our current age the word ‘entrepreneurship’ has come to signify developments which result in the emergence of new and innovative products and services.

    In this module you will learn about where the terms entrepreneur and entrepreneurship have come from, and how the power of entrepreneurial behaviour can be directed at a range of economic, social and environmental problems and opportunities.

    The module combines formal lectures, practical workshops and a masterclass focusing on taking a small firm global. Topics covered include, the emergence of entrepreneurship as a field, new venture creation, business failure and societal entrepreneurship.

  • Business Planning and Finance

    Introduces the process of conceptualising and preparing for the launch of an entrepreneurial venture.

    Specific skills that you will develop throughout this module include market research and analysis, sales forecasting, the development of financial statements, and an integrated view of all aspects of creating a new business.

    This module equips students with knowledge about business planning for venture creation—knowledge that is also useful for business growth and innovative activities in established companies.

  • Innovation in Practice 1

    This module helps you understand the challenges involved in managing the innovation process, especially in the small business context. You will explore the role of innovation in enabling firms to generate competitive advantage and the problems faced by firms in performing innovation activities.

    The module will advance your critical thinking, trigger your curiosity but at the same time develop a solid foundation for making innovative decision and approach to real business problem.

  • Family Business Management

    Family enterprises are the most prevalent form of business organization in the world, ranging from start-ups to large multinational family business groups.

    In this module, you will learn how to work entrepreneurially and professionally in family firms in order to achieve long-term growth and performance. The module combines formal lectures, talks from international guests, and a biweekly Case Study Lab where you will interact with family business leaders and consultants to address real family business cases.

    Topics covered include governance, strategy, innovation, leadership succession, family dynamics, professionalization and stakeholder management.

  • Building Competitive Advantage

    This module is concerned with the critical choices that organisations face in order to survive and gain sustainable competitive advantage in an international environment with rapid economic, regulatory and technological changes. To understand and critically evaluate these choices and their strategic dimension requires analysis of the environment in which multinational enterprises operate as well as the creation of know-how value at a business and corporate level.

During your second term from January to March, you will take five core modules as below.

  • Entrepreneurship in Practice

    This module allows you to fully immerse yourself in the process of idealizing and launching a venture. It is designed to build on previous modules and to give you a comprehensive experience of entrepreneurship.

    You will first learn from others how they have started and the best approaches to launch your venture. Including site visits and learning from Entrepreneurs-in-Residence you will immerse yourself in the exciting and thriving life of invited entrepreneurs.

    Building on this learning you will then be equipped to participate on our Entrepreneurial Challenge. As you will be expected to learn through the experience of actually launching a venture this course is both challenging and exciting and involves talking to customers, partners, competitors, experimenting with different business models, validating a market need through customer development, and building all facets of creating a venture.

  • Corporate entrepreneurial mindset

    Companies increasingly realize that a creating and sustaining a competitive edge requires them to think and act like entrepreneurs. Many companies therefore equip selected employees with the space and resources to become intrapreneurs. Other companies see the spawning of corporate spin-offs as an integral part of their strategy.

    This module is a theory-led and practice-oriented primer on corporate entrepreneurship.

    It provides you with knowledge useful for anyone aiming at working (or researching) in the field of corporate innovation and entrepreneurship or at pursuing an entrepreneurial career.

  • Internationalisation and New Technologies

    To boost company growth - may it be start-ups or established corporations, companies have to engage in 'new' activities, including entering markets overseas and/or exploiting new technologies. In this module, you will learn more about how and why companies decide to internationalise as well as successfully identify and exploit business ideas based on new technologies and effectively integrate new technologies into their value chains.

    The course will blend state-of-the-art research insights with practice-oriented elements, such as field trips and guest lectures.

  • Innovation in Practice 2

    In this module you will interact with a real problem faced by small firms, allowing you to draw on your growing skills in innovation strategy and learn more about how to exploit and evaluate innovation in practice.

    You will work closely with small business owners in solving their innovation problem. Through this experience, you will develop a solid understanding of how to trigger innovative ideas and learn why certain organisations are more creative than others.

    The module will encourage you to gain practical skills in critically examining the impact of innovation on firm's internal processes and particularly why links need to be made between innovative ideas and other business activities.

  • Researching Entrepreneurship, Strategy and International Business

    This module aims to provide a broad overview of qualitative and quantitative approaches as used in management research, together with an understanding of the different research paradigms operating within the research fields of business and management and the acquisition of transferrable research skills.

    This module prepares you for the independent research you will undertake for your final research project. It introduces you to a range of quantitative and qualitative research techniques, and focuses on both the philosophical and practical issues involved in conducting research.

From May to July you work solely on your Masters dissertation, with support from your dissertation supervisor. You will submit it at the start of September, at the end of your Masters programme.

  • Research Project

    You undertake a sustained piece of independent research which you then write up for your dissertation. The Research Project is the culmination of your studies and allows you to develop a project around your own interests.

    You can choose between two types of project: a company project which will provide valuable skills and experience for your future career in industry or will allow you to draw up a full business plan for a potential new venture. It can also be a pure research project which could provide the basis for further study at PhD level.

    In both cases you will have an academic supervisor to guide and advise you on the development of your work.

  • Term 1

    The programme begins with an induction week during which you learn more about the various elements of the programme and the facilities available within the School and University. You also take part in teamwork exercises and other academic and social activities designed to help you get to know one another before the formal part of the programme. In the first term, you take the following foundation modules:

    • Introduction to Entrepreneurship

      In our current age the word ‘entrepreneurship’ has come to signify developments which result in the emergence of new and innovative products and services.

      In this module you will learn about where the terms entrepreneur and entrepreneurship have come from, and how the power of entrepreneurial behaviour can be directed at a range of economic, social and environmental problems and opportunities.

      The module combines formal lectures, practical workshops and a masterclass focusing on taking a small firm global. Topics covered include, the emergence of entrepreneurship as a field, new venture creation, business failure and societal entrepreneurship.

    • Business Planning and Finance

      Introduces the process of conceptualising and preparing for the launch of an entrepreneurial venture.

      Specific skills that you will develop throughout this module include market research and analysis, sales forecasting, the development of financial statements, and an integrated view of all aspects of creating a new business.

      This module equips students with knowledge about business planning for venture creation—knowledge that is also useful for business growth and innovative activities in established companies.

    • Innovation in Practice 1

      This module helps you understand the challenges involved in managing the innovation process, especially in the small business context. You will explore the role of innovation in enabling firms to generate competitive advantage and the problems faced by firms in performing innovation activities.

      The module will advance your critical thinking, trigger your curiosity but at the same time develop a solid foundation for making innovative decision and approach to real business problem.

    • Family Business Management

      Family enterprises are the most prevalent form of business organization in the world, ranging from start-ups to large multinational family business groups.

      In this module, you will learn how to work entrepreneurially and professionally in family firms in order to achieve long-term growth and performance. The module combines formal lectures, talks from international guests, and a biweekly Case Study Lab where you will interact with family business leaders and consultants to address real family business cases.

      Topics covered include governance, strategy, innovation, leadership succession, family dynamics, professionalization and stakeholder management.

    • Building Competitive Advantage

      This module is concerned with the critical choices that organisations face in order to survive and gain sustainable competitive advantage in an international environment with rapid economic, regulatory and technological changes. To understand and critically evaluate these choices and their strategic dimension requires analysis of the environment in which multinational enterprises operate as well as the creation of know-how value at a business and corporate level.

  • Term 2

    During your second term from January to March, you will take five core modules as below.

    • Entrepreneurship in Practice

      This module allows you to fully immerse yourself in the process of idealizing and launching a venture. It is designed to build on previous modules and to give you a comprehensive experience of entrepreneurship.

      You will first learn from others how they have started and the best approaches to launch your venture. Including site visits and learning from Entrepreneurs-in-Residence you will immerse yourself in the exciting and thriving life of invited entrepreneurs.

      Building on this learning you will then be equipped to participate on our Entrepreneurial Challenge. As you will be expected to learn through the experience of actually launching a venture this course is both challenging and exciting and involves talking to customers, partners, competitors, experimenting with different business models, validating a market need through customer development, and building all facets of creating a venture.

    • Corporate entrepreneurial mindset

      Companies increasingly realize that a creating and sustaining a competitive edge requires them to think and act like entrepreneurs. Many companies therefore equip selected employees with the space and resources to become intrapreneurs. Other companies see the spawning of corporate spin-offs as an integral part of their strategy.

      This module is a theory-led and practice-oriented primer on corporate entrepreneurship.

      It provides you with knowledge useful for anyone aiming at working (or researching) in the field of corporate innovation and entrepreneurship or at pursuing an entrepreneurial career.

    • Internationalisation and New Technologies

      To boost company growth - may it be start-ups or established corporations, companies have to engage in 'new' activities, including entering markets overseas and/or exploiting new technologies. In this module, you will learn more about how and why companies decide to internationalise as well as successfully identify and exploit business ideas based on new technologies and effectively integrate new technologies into their value chains.

      The course will blend state-of-the-art research insights with practice-oriented elements, such as field trips and guest lectures.

    • Innovation in Practice 2

      In this module you will interact with a real problem faced by small firms, allowing you to draw on your growing skills in innovation strategy and learn more about how to exploit and evaluate innovation in practice.

      You will work closely with small business owners in solving their innovation problem. Through this experience, you will develop a solid understanding of how to trigger innovative ideas and learn why certain organisations are more creative than others.

      The module will encourage you to gain practical skills in critically examining the impact of innovation on firm's internal processes and particularly why links need to be made between innovative ideas and other business activities.

    • Researching Entrepreneurship, Strategy and International Business

      This module aims to provide a broad overview of qualitative and quantitative approaches as used in management research, together with an understanding of the different research paradigms operating within the research fields of business and management and the acquisition of transferrable research skills.

      This module prepares you for the independent research you will undertake for your final research project. It introduces you to a range of quantitative and qualitative research techniques, and focuses on both the philosophical and practical issues involved in conducting research.

  • Term 3

    From May to July you work solely on your Masters dissertation, with support from your dissertation supervisor. You will submit it at the start of September, at the end of your Masters programme.

    • Research Project

      You undertake a sustained piece of independent research which you then write up for your dissertation. The Research Project is the culmination of your studies and allows you to develop a project around your own interests.

      You can choose between two types of project: a company project which will provide valuable skills and experience for your future career in industry or will allow you to draw up a full business plan for a potential new venture. It can also be a pure research project which could provide the basis for further study at PhD level.

      In both cases you will have an academic supervisor to guide and advise you on the development of your work.

Careers

The Careers Team at LUMS helps you shape your career plans and supports your job-hunting process in a variety of ways, including personalised one-to-one support and interactive workshops on areas such as career strategies, writing CVs and applications, interview skills, psychometric testing, what to expect at assessment centres, and online networking strategies.

Learn more

Scholarships

Our programme-specific scholarship for 2019 entry include the Academic Excellence, UK-EU and International scholarships aimed at high-achieving students with a strong academic or personal profile. We'll automatically consider you for these scholarships when you apply and if you are shortlisted we'll be in touch with the next steps, so it's best to apply as soon as possible. We also offer other scholarships - visit our Apply for Masters page to find out more.

Apply for Masters

Student Profiles