Creativity and Innovation course work

Question 1: Assume starting a social enterprise that wants to support the needy vulnerable

children with education support. How will the enterprise get started? Use the business Model

canvas to guide the planning.

Question 2: The department of entrepreneurship and innovation wishes to start another

master’s program. use the DT model to guide the name and courses to be taught on that

programme.

SOLUTION

Question 1 : STARTING A SOCIAL ENTERPRISE THAT WANTS TO SUPPORT

THE NEEDY VULNERABLE CHILDREN WITH EDUCATION SUPPORT.

Rentals for Vulnerable Child education (ReVuCE), Inc

Rentals for vulnerable child education, Inc is a social enterprise and not a charity

organization. It is a profit-generating business that serves not just to make money but also to

make an impact in the lives of the needy vulnerable with education support (Tuition fees,

scholastic materials, and incidental costs) in district where we are going to be operating from.

The Social Enterprise Alliance defines a “social enterprise” as “Organizations that address a

basic unmet need or solve a social or environmental problem through a market-driven

approach.” Interestingly an entrepreneur can focus on starting a commercial building in

upcoming towns as a social enterprise.

We will have our headquarters in Kasese district, western Uganda and will major in the

construction of commercial rentals in busy upcoming towns to provide a variety of affordable

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business trading space to existing and new business retailer/entrepreneurs. The collected

rental income/revenue will be used to pay for selected needy vulnerable child education

support in primary, O-level , Adversity level and tertiary institution.

Rentals for vulnerable child education, Inc. is going to be a self-administered and a self-

managed commercial real estate investment trust (REIT). We will engage in the construction

of different commercial rental buildings /space that will meet the needs of our clients. We

will work towards becoming one of the largest commercial real estates for vulnerable child

education support construction companies in Uganda with active presence in major districts

and cities.

As part of our plans to make our customers our number one priority and to become one of the

leading social enterprises in Uganda, we have perfected plans to adopt international best

practices that can favourably compete with the best in the commercial real estate industry.

Rentals for vulnerable child education, Inc will at all times demonstrate her commitment to

sustainability, both individually and as a social enterprise organization, by actively

participating in our communities and integrating sustainable social enterprise practices

wherever possible.

What is the Business Model Canvas?

The business model canvas is a strategic planning tool used by managers to illustrate and

develop their business model. The business model canvas template clearly identifies the key

elements that make up a business. Additionally, it simplifies a business plan into a condensed

form. In this way, the business model canvas template acts like an executive summary for the

busines

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 Business modal Canvas for Rentals for Vulnerable Child education (ReVuCE), Inc ,

Key Partners Key Activities Value Proposition Customer Relationships Market Segments

 Suppliers of We will be involved in  To build a  Some of the strengths that we  Business

construction providing. business that will will be bringing to the table in entrepreneurs

materials survive off its own the industry is our robust  University
 Short-term
 Government cash flow without relations with properties students
construction works
 Primary, the need for investment moguls in the whole  Vulnerable
 Commercial rental
secondary and injecting finance of Uganda. Also, our access to households
space for existing
Universities from external pools of low-income earning  Out of school
and new business
 NGOs sources once the families and the business children with
retail entrepreneurs
business is community school going
 Housing for low-
officially running. age
Again, we have a team of
income individuals
We know that one experts who have cut their teeth
and families
of the ways of in the social enterprise market.  
 Volunteer
gaining approval
construction or

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 repair of low-cost and winning Our commission structure and

housing customers over is relationship with freelance real

 Repair of homes for to rent / lease / sell estate agents

elderly or disabled our commercial

homeowners as a rentals services a

support service little bit cheaper

 Rental space for than what is

university students obtainable in the

(Hostels market, and we are

prepared to

survive on lower

Key Resources profit margin for a Channels of engagement

Human Resources while.

 Introduce our social
We will make sure enterprise company by
 Chief Executive
that the right sending introductory
Officer
foundation, letters alongside our
 Company’s Lawyer /

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 Secretary structures, and
brochure to low income
 Project Manager processes are put in
earning families,
 Civil Engineer place to ensure that
vulnerable families,
 Architect our staff welfare are
individuals and other
 Land Surveyor well taken of.
key stake holders
 Admin and HR
Our company’s
throughout the districts
Manager
corporate culture is
and cities where our
 Business Developer /
designed to drive
social enterprise
Sales and Marketing
our business to
organization is located.
 Accountant
greater heights and
 Advertise on the
 Customer Service
training and
internet on blogs and
Executive / Front
retraining of our
forums, and on social
Desk Officer
workforce is at the
media like Twitter,
 Education
top burner.
Facebook, LinkedIn to
/sponsorship officer
get our message across.

 Create a basic website

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 for our business to give

our business an online

presence

 Directly market our

services

 Join local social

enterprise organization

associations for industry

trends and tips

 Advertise our social

enterprise organization

in community – based

newspapers, local TV

and radio stations

 Encourage the use of

Word-of-mouth

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 marketing (referrals)

Cost Structure Revenue Streams

Start up
 Rent, lease, and sell income from the

 Generate part of the start-up capital from personal savings and sale of constructed rooms and houses
stocks
 Construction contracts
 Generate part of the start-up capital from friends and other extended
family members  
 Generate a larger chunk of the start-up capital from the bank (loan
facility).  Pricing strategy
 Generate the start up capital from donors

The fact that a social enterprise is not a charity

Start up expenditure
organization but a profit-generating business that
 The total fee for incorporating the business in Uganda
serves not just to make money but also to make a
 The budget for permits and license
 The cost for hiring business consultant social impact, means that we will charge far less than

 The cost for computer software apps (Accounting Software, Payroll what people in mainstream industry will be charging.
Software, Commercial real estate software, and QuickBooks)

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 The budget for insurance (general liability, workers’ compensation and We will ensure that we don’t run at a loss but at the
property casualty) coverage at a total premium
same make relative profits that we can easily
 The cost for acquiring land.
leverage on to make maximum impact in Uganda.
 The cost for equipping the office (computers, printers, furniture,
telephones, filing cabins, safety gadgets and electronics)
Payment options
 Other start-up expenses including stationery and phone and utility
deposits
 Payment by cash
 Operational cost for the first 3 months (salaries of employees, payments
 Payment by Mobile money
of bills)
 The cost of launching our official website  Payment by via bank transfer
 Additional Expenditure (Business cards, Signage, Adverts and
 Payment via online bank transfer
Promotions)
 Payment via check

 Payment via bank draft

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Question 2: The department of entrepreneurship and innovation wishes to start another

master’s program. use the DT model to guide the name and courses to be taught on that

programme.

SOLUTION

The design thinking process for starting Master’s in Entrepreneurship and Innovation at

Makerere University Business school

Step 1: Empathize

Key program features

 Full-time / One year

Students gain skills that are at the centre of value creation, from start-ups to global

enterprises, and learn to devise and deliver new products and services through a no-nonsense,

metrics-driven approach.

Step 2. Define

Students Learning objectives

 Future Thinking

 Design Thinking

 Theory of Change

 Business Model Development

 Go-To-Marketing Planning

 Investment Pitching

 Leadership

 Digital Marketing

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Step 4: Protype

Curriculum of Master of E&I: Learn innovation by doing it

Innovation and entrepreneurial skills are a must-have for a successful new venture. They are

also highly sought-after in existing organizations. Students should Learn how to gain

foresight into the future, apply design thinking techniques to explore unmet market needs,

and devise business model canvas processes to quickly create viable businesses—or pivot.

This program will be a hands-on program that focuses on launching high-growth ventures by

taking on real-world business challenges that are integrated into the entire program.

Core modules:

Module 1: Ideate

As an entrepreneur, you’ll often find you’re the CEO of your company. Learn how to apply

the business fundamentals while you nurture your entrepreneurial spirit and skills.

Course: Business Insights Through Data

Successful businesses compare past business performance with newly acquired information

to visualize industry trends and make decisions. Using data analysis helps companies predict

industry and market trends and adapt accordingly. This course will help students understand

and apply different business metrics and use quantitative and qualitative analyses to provide

specific recommendations to their businesses and clients.

Key topics & skills

 Data & Decisions

 Describing Categorical & Numerical Data

 Association Between Variables

 Normal Probability Models

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  Samples & Confidence Intervals

 Regression Models

Course 2: Communication & Collaboration 1: Personal Impact

Effective communication and collaboration skills can make or break a successful career. Gain

a clear understanding of the most in-demand interpersonal competencies and skills in

business today. Then, continually apply these skills in exercises and role plays—and graduate

with the soft skills needed to succeed in the global workplace.

Key topics & skills

 Learning & Development

 Managing Yourself

 Communicating With Individuals & Groups

 Presentation Skills—Story Telling, Presentations & Pitching

Course 3: Futures Thinking & Emerging Tech

Develop your future thinking, using the Institute for the Future's stages of Prepare, Foresight,

Insight and Action. Explore specific techniques to identify drivers and signals of change

which enable innovative products and services. Then investigate promising emerging

technologies such as blockchain, artificial intelligence, and machine learning.

Key topics & skills

 Future Mindset—Trends & Signals of Change to Insights & Action

 Future Thinking Tools—Prepare, Foresight, Insight, and Action

 Blockchain Technology & Applications

 Artificial Intelligence (AI) & Applications

 Machine Learning & Applications

Course 4: Design Thinking for Customer Discovery

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Students get practical and in-depth exploration of design thinking as a method and mindset

for creative problem-solving in a business context. Understand how it serves to solve

complex problems and as a framework to balance needs and feasibility.

Key topics & skills

 Opportunity Identification —Defining the Context, Customer Segments, Competition,

Vision & Value

 Design Thinking & Strategic Innovation, Creating Design-Oriented Companies—

Business Models, Experience Design, Culture

 Understanding & Empathizing With the Customer

 Ideation—Brainstorming & Pivoting

Course 5: Program Immersion

Students begin their program with an immersion experience. This is where students will first

practice essential business skills to prepare for the program and assess your readiness on

commonly used concepts and tools for industry and career preparation. They will begin to

develop communication and teamwork skills, reflect on your personal journey, and build a

strong foundation for your ongoing success.

Key Topics & Skills

 Business, Finance & Communication Fundamentals

 Academic & Program-Specific Skills, Tools & Essentials

 Career, Professional & Personal Development

Business Challenge #1

Students put all their newly acquired knowledge and skills directly into practice at the end of

each block through a practical and relevant business challenge. Teams will draw on the

content and themes of previous courses in each block to complete challenges involving

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simulations, executive pitch presentations, innovation hackathons, real company challenges,

designing new business models, etc.

Key Topics & Skills

 Cross Functional Strategic Decision Making, Planning & Coordination

 Analyzing Real & Simulated Business Cases

 Team Leadership & Dynamics

Module 2: Plan

Delve deeper into the mechanics of starting a new business venture, and elevate your soft

skills, before bringing it all together to present a business plan.

Core Course 6 : Business Model Strategy

This course focuses on various dimensions of innovative business model design and related

business process design. It prepares you to manage creativity effectively when generating

high potential ideas and converting them into disruptive new business models. The emphasis

is on using concepts, practices, and techniques from across functions and implementing them

in teams.

Key topics & skills

 Disruptive Innovation Playbook: Best Practices

 Identifying and Mapping Human Centric Challenges

 Deep Dive: Value Proposition Desig & Business Model Design

 Applying Business Model Design to Portfolio Strategy and the Multiple Horizons of

Renewal & Growth

 The Innovators Dilemma-Defending Against Disruption, 4IR and the Accelerated Era

of Disruption

Core Course 8: Collaboration & Communication #2: Teamwork

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This course builds on the skills developed in Communication & Collaboration 1, moving

from exploring your personal impact to exploring team impact. You’ll focus on conflict

resolution and negotiation and influencing organizational outcomes through team decision

making.

Key topics & skills

 Team Collaboration

 Team Diversity

 Team Problem Solving Tools

 Conflict Resolution

 Negotiation

 Bias & Decision Making

Core Course 9: Entrepreneurial Sales & Marketing

All businesses need sales and marketing—and for new ventures, it's the difference between

flourishing and failing completely. This course covers marketing topics such as identifying

target customer segments, gaining initial trial, and building brand and customer loyalty as

well as sales topics such as a go-to-market plan and managing a sales pipeline.

Key topics & skills

 Sales & Marketing Processes and Customer Relationship Management

 Marketing—Induce Trial, Reinforce Messaging, Branding

 Social Media & Digital Marketing—Tools & Metrics

 Sales Strategy

 Sales Process

Core Course 10: Financial Literacy for Innovators

Innovators and entrepreneurs need a grasp on financial realities. They need to understand

decisions, projections, financial statement analysis, cash flow, profitability, and return on

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investment. This course focus on early-stage financial priorities, such as "burn rate,"

"runway," and financial projection models.

Key topics & skills

 The Four Basic Financial Statements

 Financial Analysis—Ratios, Trends & Common Size

 Profit Planning—Breakeven Points & Decision-Making Models

 Entrepreneurial Priorities— Cash Burn Rate, Runway, Working Capital Management,

Cash Budgeting

 Alternative Forms of Financing Available to Ventures

Business Challenge #2

Put all your newly acquired knowledge and skills directly into practice at the end of each

block through a practical and relevant business challenge. Teams will draw on the content

and themes of previous courses in each block to complete challenges involving simulations,

executive pitch presentations, innovation hackathons, real company challenges, designing

new business models, etc.

Key topics & skills

 Cross Functional Strategic Decision Making, Planning & Coordination

 Analyzing Real & Simulated Business Cases

 Team Leadership & Dynamics

Module 3: Launch

Get yourself up to speed with the latest sales and marketing techniques and innovations, then

finalize your financing options before drawing it all together to create an investment pitch.

Core Course 11: Communication & Collaboration 3: Influence & Persuasion

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Leverage your new functional knowledge for organizational impact by bringing together

elements from the Personal Impact and Teamwork courses. Hone your influence, leadership,

and negotiation skills to learn how to persuade in an organizational context effectively and

ethically.

Key topics & skills

 Persuasion

 Influence Without Authority

 Managing Up & Across

 Giving Voice to Values

 Change Management & Leadership

Core Course 12: Digital Marketing

Explore the full range of digital marketing platforms and activities, with best practice and

innovation opportunities in mind. Consider the digital customer journey including online

marketing, search engine optimization, and paid search. Understand links between online and

offline marketing channels as well as how the growth of technology will lead to new

opportunities and challenges.

Key topics & skills

 Sponsored Search Advertising & SEO

 Display Advertising

 Content Marketing & Marketing Campaigns

 Mobile Marketing & Social Media

 Successful Online Business Models

Core Course 13: Financing Innovation

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How do you finance a high-growth business? From self-funding to friends and family, to

angel investors, to venture capital, and investment bankers, this course gives you the full

gamut of entrepreneurial financing options, known as the “Stairway to Heaven”.

Key topics & skills

 Overview of Innovation Financing - Startups and Corporate Projects

 Legal Considerations - Intellectual Property, Organizational Form, Securities Laws

 Valuation and Capitalization Tables

 Term Sheets and Distribution of Proceeds

 Other Financing Alternatives

 Harvesting and Managing in Financial Distress

Core Course 14: Technology for Entrepreneurs

This hands-on course gives you an understanding of the key technology components of an e-

commerce website. You’ll create a working e-commerce website and familiarize yourself

with web development tools, content management, audience engagement, and shopping

baskets.

Key topics & skills

 Website Objectives

 Domain Names

 Website-Building Technology

 Website Tools—CMS, Shopping Cart, Blogs

 Website Design & Implementation and Best Practices for UI and UX

Business Challenge #3

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Put all your newly acquired knowledge and skills directly into practice at the end of each

block through a practical and relevant business challenge. Teams will draw on the content

and themes of previous courses in each block to complete challenges involving simulations,

executive pitch presentations, innovation hackathons, real company challenges, designing

new business models, etc.

Key topics & skills

 Cross Functional Strategic Decision Making, Planning & Coordination

 Analyzing Real & Simulated Business Cases

 Team Leadership & Dynamics

Reference

1. Masters in Entrepreneurship and Innovation - MEI | Hult Masters Degrees

2. An Introduction to Design Thinking PROCESS GUIDE, institute of Stanford

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