Minor in Innovation

Person holding a phone up to an interactive board displaying symbols relevant to the internet of things

With technology disrupting entire industries, students today must develop their problem-solving, leadership, and entrepreneurial skills in order to compete in the economy. The DeGroote School of Business has partnered with the Faculty of Engineering to offer students from all faculties the opportunity to pursue a Minor in Innovation.

Students who complete the Minor will learn more about innovation, and develop their own levels of innovation literacy. This is a valuable option for students interested in creating change within organizations, or who wish to create their own enterprise.

Program Requirements

Students will have to complete 24 units (8 courses) to satisfy requirements for a Minor in Innovation. This includes:

  • 6 units from INNOVATE 1X03 and INNOVATE 2X03
  • 6 units from INNOVATE 2Z03, INNOVATE 3X03, and INNOVATE 3Z03
  • 12 units from eligible electives

Courses

Available During The 2018/2019 Academic Year

Innovate 1X03 – The World of Entrepreneurship

Three lectures, one term, three units

Fundamentals of entrepreneurship via a series of guest lectures by prominent entrepreneurs. Case studies will be used to analyse strategies and methods for growing a scalable business.

INNOVATE 2X03 – Lean Startup

Three lectures, one term, three units

Introduction to lean methodologies of building a successful start-up business, including market validation, analysing market potential for start-up ideas, establishing a business model and failing fast. Students will learn how to test business ideas and hypotheses with customers and stakeholders.

First Offered 2019-2020

INNOVATE 2Z03 – Sprint Methodologies

Three lectures, one term, 3 units

Prerequisite(s): Registration in Level II or above of any program

Rapid prototyping, testing and iteration of ideas with customers using design sprint methodologies. Students will also learn about agile development and pathways from idea to market.

INNOVATE 3X03 – Persuasion, Pitching Skills and Marketing

Three lectures, one term, 3 units

Prerequisite(s): Registration in Level II or above of any program

In both individual and group settings, students will explore the theoretical and practical aspects of how to persuasively market and sell their ideas, their vision and their products to target audiences.

INNOVATE 3Z03 – From Founder to CEO

Three lectures, one term, 3 units

Prerequisite(s): Registration in Level II or above of any program

Students will learn how a start-up Founder transitions into becoming a CEO to properly manage and grow the company, effectively manage Human Resources and work with a Board of Directors.

Elective Courses

COMMERCE 2AB3 – Managerial Accounting I

Lectures (two hours), tutorial (one hour), 3 units

Prerequisite(s): COMMERCE 1AA3 (or 2AA3) and registration in any Commerce, Engineering and Management, Honours Business Informatics or four or five-level non-Commerce program.

An introduction to concepts underlying the use of cost accounting information for managerial planning and control and for inventory valuation. The nature and analysis of costs and the usefulness and limitations of accounting data for decision-making, including ethical considerations, will be discussed.

COMMERCE 3MA3 – Marketing Research

Lectures (three hours), tutorial (one hour), 3 units

Prerequisite(s): COMMERCE 2MA3, 2QA3 and registration in any Commerce or Engineering and Management program; or COMMERCE 2MA3 and one of STATS 2MB3, 3J04, 3N03 or STATS 3Y03 and registration in any Engineering and Management program.

This course covers the effective obtaining, communicating and using of competitive and market intelligence. Students work in groups with a company or public organization and receive training and experience in making business presentations.

COMMERCE 3S03 – Management Skills Development

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2BC3(or 3BC3) and registration in any Commerce program
Antirequisite(s): COMMERCE 2S03

The purpose of this course is to provide the necessary cognitive and behavioural skills that students need to develop themselves as competent managers through the acquisition and practice of personal, interpersonal, and group skills.

COMMERCE 4AK3 – Accounting Information for Decision Making

Lectures (three hours), 3 units

Prerequisite(s): Registration in Level III or above of a non-Commerce program
Antirequisite(s): COMMERCE 1AA3 (or 2AA3), COMMERCE 2AB3. Not open to students registered in any Commerce, Honours Business Informatics, or Engineering and Management program.

Not open to students enrolled in any Commerce, Honours Business Informatics, or Engineering and Management program.

This course covers the basic principles in financial and managerial accounting as well as the use of accounting information in decision making. In the financial accounting part of the course, the course covers the conceptual framework of accounting, Generally Accepted Accounting Principles, financial statements, and financial statement analysis. In the managerial accounting part of the course, the course covers cost behaviour, cost-volume profit relationships, budgeting, and the use of cost information in decision making.

COMMERCE 4BB3 – Recruitment and Selection

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2BC3 (or 3BC3); and registration in level III or above in any Honours Commerce or Engineering and Management program or Level IV of the Commerce program.

This course exposes students to staffing issues in the Canadian context. Topics include job analysis, methods of recruitment and selection, human rights legislation and decision making strategies.

COMMERCE 4BK3 – The Management of Technology

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 1BA3(or 2BA3); and registration in level III or above in any Honours Commerce, Engineering and Management program or Business Informatics program, or Level IV of the Commerce program.

An introduction to the innovative management of technology including the integration of the firm and technology strategy, external sourcing of technology and the internationalization of technology management.

COMMERCE 4BN3 – Leadership Development

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 1BA3 (or 2BA3), 2BC3, 3S03; registration in Level IV or above of a Commerce or Engineering & Management program; and Instructor Permission

This highly participative learning portfolio-based course on Leadership focuses on the potential for personal and professional growth of the student. The course provides an initial understanding of the fundamentals and theories of leadership, and then moves to an appreciation of students own leadership styles, behaviors, and experiences as well as an understanding of other individuals leadership styles, behaviors, and experiences. A major objective of the course is to encourage the student to become more reflective and self-aware.

COMMERCE 4FO3 – Small Business and Entrepreneurial Finance

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2FA3 or ECON 2I03; and registration in level III or above in any Honours Commerce, Engineering and Management program or Business Informatics program, or Level IV of the Commerce program.

This course is intended for students who wish to enhance their skills and knowledge in those areas of business that lead to successful entrepreneurship and/or small business management. The focus will be on those financial issues and decisions of particular concern to sole proprietors, partnerships, family-owned businesses and small non-public corporations.

COMMERCE 4FV3 – Venture Capital

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 3FA3 and registration in Level III or above of an Honours Commerce or Engineering & Management program; or registration in Level IV of the Commerce program.

This course focuses on financing and value creation strategies for early- and growth-stage companies. It is designed for students considering careers in financial services or as entrepreneurs.

COMMERCE 4FW3 – Finance for Entrepreneurs

Lectures (three hours), 3 units

Prerequisite(s): Students in a 3rd or 4th year non-Commerce program.
Antirequisite(s): COMMERCE 4FO3. Not open to students registered in any Commerce, or Honours Business Informatics, or Engineering & Management program; or the Minor in Finance.

This course is intended for students who wish to enhance their skills and knowledge in those areas of business that lead to successful entrepreneurship and/or small business management. The focus will be on those financial issues and decisions of particular concern to sole proprietors, partnerships, family-owned businesses and small non-public corporations. This will include the financial aspects of the relationship between the firm and its owners.

COMMERCE 4KF3 – Project Management

Lectures and online (three hours), 3 units

Prerequisite(s): Registration in level III or above in any Honours Commerce, Engineering and Management program or Business Informatics program, or Level IV of the Commerce program.
Antirequisite(s): COMMERCE 4QF3

Topics include: project selection, project organization structures, life cycles, planning, estimation, budgeting, resource allocation, contracting, project management software, reporting and controlling issues and conflict management.

COMMERCE 4KH3 – Strategies for Electronic and Mobile Business

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2KA3 and registration in level III or above in any Honours Commerce, Engineering and Management program or Business Informatics program; or Level IV of the Commerce program.
Antirequisite(s): COMMERCE 4QH3

This course covers the strategic issues that the modern business manager must deal with in making strategic decisions concerning the choice, implementation and execution of electronic and mobile business solutions for start-ups and established enterprises.

COMMERCE 4KI3 – Business Process Management

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2KA3 or instructors approval, and registration and registration in level III or above in any Honours Commerce or Engineering and Management program; or Level IV of the Commerce program.

This course enables students to learn about the methodologies used in business process management and related information technologies in support of process innovation. These techniques are learned through hands-on practice with SAP Business One (B1) software and simulation targeted to small and medium sized enterprises.

COMMERCE 4MC3 – New Product Marketing

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 3MC3;registration in any Commerce or Engineering and Management program; or Level IV of the Commerce program.

This course covers the management of new products from the idea stage through to product launch with a strong practical orientation. A field project is a major component of the course.

COMMERCE 4ME3 – Sales Management

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 2MA3; enrollment in Level III or above of an Honours Commerce or Engineering & Management program; or enrollment in Level IV of the Commerce program.
Antirequisite(s): Not open to students with credit or registration in COMMERCE 4MX3, if the topic was Sales Management.

Cases, presentations, field work, library research, role playing and group exercises help to understand customers, the selling process, sales presentations, negotiation, legal and ethical responsibilities, self and team management.

COMMERCE 4PA3 – Business Policy: Strategic Management

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 3MC3; and registration in Level IV of a Commerce program or Level V of an Engineering and Management program

As the capstone to the program, this case course is designed to unify the student’s learning experience by exploring the formulation and implementation of corporate strategy.

COMMERCE 4SD3 – Commercial Law

Lectures (three hours), 3 units

Prerequisite(s): Registration in any Commerce or Engineering and Management program.

This course emphasizes those areas of law which are most relevant to business activity. Particular attention is given to the law relating to contracts and business organizations. Other areas of study include: sources of law, the judicial process, real and personal property, torts, agency, credit and negotiable instruments.

COMMERCE 4SE3 – Entrepreneurship

Lectures (three hours), 3 units

Prerequisite(s): COMMERCE 3FA3; and COMMERCE 3MA3 or COMMERCE 3MC3; and registration in level III or above in any Honours Commerce or Engineering and Management program or Level IV of the Commerce program.

The problems and experiences encountered in starting and developing new enterprises will be studied. A cornerstone of the course is the development of a detailed business plan for a local entrepreneur.

COMPSCI 4EN3 A/B – Software Entrepreneurship

Three lectures, 3 units

Prerequisite(s): Registration in Level III or IV of any Computer Science program

Issues in starting up a new software enterprise, with the focus on independent startups. This course will cover the technical, financial, legal and operational issues encountered by software startups. Small groups of students will take an idea and turn it into a prototype, a business plan, and a sales pitch. Lectures will cover issues from team formation to appropriate software development processes to patent protection to venture capital.

ENGNMGT 4A03 – Innovation Driven Project Development and Management

Lectures (three hours), 3 units

Prerequisite(s): One of CHEMENG 2G03, CIVENG 2I03 or ENGNMGT 2AA2; and registration in any Engineering and Management program
Antirequisite(s): ENGNMGT 3AA1, 4A01

What is innovation and how is it managed? Team-based creativity skills will be developed with a focus on delivering innovation. Participants develop teamwork skills while using project management tools to develop a project.

HISTORY 2EE3 – Science and Technology in World History

Lectures and discussion (three hours), 3 units

Prerequisite(s): Registration in Level II or above
May be offered in person or online.

An introduction to the manner in which science and technology influence society and how society influences science and technology, paying particular attention to the transfer of knowledge and machines over time and between cultures.

HISTORY 3UA3 – The History of the Future

Lectures and discussion (three hours), 3 units

Prerequisite(s): Registration in Level II or above

This course examines how technology has historically shaped social ideas about the future and how these social ideas about the future shaped subsequent technology.

HTHSCI 4ID3 – Innovation By Design

3 units

Prerequisite(s): Registration in Level IV or above

This course will enable interdisciplinary student groups to engage in design thinking as a methodology to assess health area problems/challenges, collect meaningful data, iterate alternative design options, and build a prototype solution for validation with user groups. Students will learn conceptual approaches to ‘design thinking’ and develop capabilities with spotting, supporting and scaling up new innovative ideas explored using a user-centered empathy focus.

INNOVATE 3EX3 – Experiential Learning in Innovation

Lectures, 3 units

Prerequisite(s): INNOVATE 1X03, 2X03, INNOVATE 2Z03, and permission of the instructor
First offered 2020-21

This course will provide students an opportunity to gain direct experience working at an existing start-up company. Course credit will be evaluated based on the maintenance of a comprehensive learning portfolio.

INNOVATE 4EX6 A/B – Founders Startup

Lectures, 3 units

Prerequisite(s): INNOVATE 1X03, 2X03, 2Z03, and permission of the instructor.
First offered 2020-21

Working with The Forge, McMasters startup accelerator, students will form teams to develop a new startup venture. Through the application of lean startup and design sprint methodologies, students will rapidly test and iterate product-market fit with customers and refine their business models. Admission to the course will be based on a written application (one application per team) and a successful panel interview. At the end of the course, students will pitch their validated business models and evidence for product-market fit to a panel of Forge entrepreneurs, advisers, and mentors for possible entry into The Forges Stage II program.

SUSTAIN 3S03 – Implementing Sustainable Change

Lecture (three hours), tutorial (one hour), 3 units

Prerequisite(s): SUSTAIN 2S03 or permission of the Academic Sustainability Programs Office
Antirequisite(s): SUSTAIN 3A03

Exploring agency, leadership, and strategy effectiveness within the context of sustainability. The course will include interdisciplinary perspectives, experiential learning and community engagement projects.

Other Minors with the DeGroote School of Business

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