2013/2014 BA-HAS_PMCI Prediction Markets and Crowdsourcing for Firm Innovation
English Title | |
Prediction Markets and Crowdsourcing for Firm Innovation |
Course information |
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Language | English |
Exam ECTS | 7.5 ECTS |
Type | Mandatory |
Level | Bachelor |
Duration | One Quarter |
Course period | Third Quarter
The course is offered from spring 2015 |
Time Table | Please see course schedule at e-Campus |
Study board |
Study Board for BSc in Service
Management
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Course coordinator | |
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Main academic disciplines | |
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Last updated on 15-08-2013 |
Learning objectives | |||||||||||||||||||||||
This course builds students’ ability to set up and run ongoing prediction markets and crowdsourcing with the purpose of aggregating collective intelligence from the firms’ important stakeholder groups employees, customers and suppliers for use in effective strategic decision making and innovation management. That is, the course builds students’ ability to analyze, select and develop innovation strategies by introducing prediction markets and crowdsourcing as emergent business information aggregation tools to assess changes in the firm’s internal and external environments. The students will learn about the dynamics of stakeholder sensing of the internal and external firm environments and how such sensing activities may be utilized in strategic decision processes for strategic outcomes that can contribute to the development of sustainable competitive advantage. Students will learn basic theories of collective intelligence, environmental sensing, judgmental predictions, prediction markets, crowdsourcing and dynamic strategic decision making with a focus on responsiveness and innovative behaviors. The course provides a framework for analyzing the competitive environment and potential effects of important stakeholder interactions. | |||||||||||||||||||||||
Course prerequisites | |||||||||||||||||||||||
English language skills equal to B2 level (CEFR) and math skill equal to Danish level B are recommended. | |||||||||||||||||||||||
Examination | |||||||||||||||||||||||
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Course content and structure | |||||||||||||||||||||||
The study of Prediction Markets and Crowdsourcing is
essentially the study of ‘bottom-up’ information processes
among firm stakeholders as they sense changes in the firms’
environmental spheres for use in strategic decision making and
innovation processest. Prediction markets and crowdsourcing in
businesses can be used in relation to operational risk management,
business portfolio management, and strategic planning by assessing
operating capabilities, identifying most promising projects, and
evaluating the likelihood of meeting key performance metrics and
strategic goals.
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Teaching methods | |||||||||||||||||||||||
The teaching sessions will normally be divided between lectures and class discussion. The sessions have been designed to facilitate as much active class participation as possible using classroom clickers, student presentations and the proportion of time allocated to lecture although discussions will vary somewhat in intensity week by week. | |||||||||||||||||||||||
Expected literature | |||||||||||||||||||||||
There is not a single text for the
course. Instead, the lectures will be based on material from
published papers, downloadable from CBS Library databases or to be
made available on Learn, and the following textbook, several copies
of which will be on reserve in the Library.
Oracles: How Prediction Markets Turn Employees into Visionaries, Harvard Business Review Press, 1st Edition by Donald N. Thompson Predictocracy: Market Mechanisms for Public and Private Decision Making, Yale University Press, 1st Edition by Michael Abramowicz. |