2014/2015
BA-BSSIO1003U Prediction Markets and Crowdsourcing for
Firm Innovation: Service and Innovation
| English Title |
| Prediction Markets and Crowdsourcing
for Firm Innovation: Service and Innovation |
|
|
| Language |
English |
| Course ECTS |
7.5 ECTS |
| Type |
Mandatory |
| Level |
Bachelor |
| Duration |
One Quarter |
| Course period |
Third Quarter |
| Timetable |
Course schedule will be posted at
calendar.cbs.dk |
| Study board |
Study Board for BSc in Service
Management
|
| Course
coordinator |
- Carina Antonia Hallin - Department of International Economics
and Management (INT)
|
| Main academic
disciplines |
- Innovation and entrepreneurship
- Management of Information and Knowledge Management
- Statistics and mathematics
- Corporate and Business Strategy
|
|
Last updated on
20-08-2014
|
| 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 such as 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 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 |
|
Prediction
Markets and Crowdsourcing for Firm Innovation: Service and
Innovation:
|
| Exam
ECTS |
7,5 |
| Examination form |
Home assignment - written product |
| Individual or group exam |
Individual |
|
The assignment must be written in groups of 2-3
members, but is graded individually. It must therefore be clearly
identified in the paper which student is responsible for which
parts of the paper. |
| Size of written product |
Max. 20 pages |
|
The project size should be:
1 student: max 10 standard pages
2 students: max 15 standard pages
3 students: max 20 standard pages |
| Assignment type |
Case based assignment |
| Duration |
Written product to be submitted on specified date
and time. |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
Spring Term |
| Make-up exam/re-exam |
Same examination form as the ordinary exam
|
Description of the exam
procedure
The exam is a written group
project based on a company case assignment. The groups
may choose between working with a given case study or a real
company case. Both of the formats include fieldwork. The
case exam assignment is given to the students on the
first course day, and the deadline for handing in the final
product is a week before the course
ends.
|
|
| Course content and structure |
|
The study of Prediction Markets and Crowdsourcing is
essentially the study of ‘bottom-up’ information aggregation
processes from the firm's important
stakeholders as they sense changes in the firm’s environmental
spheres for use in strategic decision making and innovation
processes. Prediction markets and crowdsourcing in businesses can
be used in relation to assessment of changes in environmental and
operational conditions; risk management; strategic issue
management; strategic planning, prediction of promising projects,
products and performance metrics, and to evaluate the
likelihood of meeting strategic goals.
The course starts with the premise that business strategy is a
dynamic process which is both reactive and proactive in dealing
with ongoing changes and innovation processes within the firm. The
course analyzes the phenomena of environmental sensing by
employees, suppliers and customers and presents various tools to
aggregate such information for predictive purposes that can be used
to modify, adapt, and change new service designs and other business
initiatives that affect the firm’s strategic
outcomes.
|
| 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. |
Last updated on
20-08-2014
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