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La Trobe Business School

Tag: university-industry collaboration

LBS students conducting successful Capstone Project

Students enrolled in LBS’ Master of Business Information Management and Systems (MBIMS) got the chance to work on a real-world project for the subject Business Intelligence Project Analysis and Design (BUS5BPD). Their task was to design a Digital Twin Inspection Tool project for the Australian Marine and Ship Services.

Even though the scenario was fictional, the industry partners were very real. Students had to design the Digital Twin Inspection Tool to be an inspection application for Deloitte, compatible with Apple technology. Both Deloitte and Apple have been closely involved with the subject through guest lectures but also by mentoring the teams.

Awards night

At the end of the semester LBS and Deloitte organised an awards night where the best five teams presented their project and received an award. Awards were handed out for the most complete design, the most innovative design, the very simple design and the most logical design.

Team Black Pearl presenting their design
Team The Sailors presenting their design

The next step

After designing the application during BUS5BDP, the award winning projects are going to be developed and tested during the subject Business Intelligence Project Implementation (BUS5BPI). Both subjects are so-called capstone subjects, and in this case, twin capstone MBIMS subjects. Capstone subjects provide the student with opportunities to demonstrate their capacity to integrate the knowledge and skills acquired throughout their degree and apply them to a real-world problem. Usually the industry partners are only involved in BUS5BDP, but both Deloitte and Apple have already indicated that they want to be part of BUS5BPI as well. If one or more Digital Twin Inspection Tool applications would be fully developed, tested and implemented, that would mean a unique outcome for a Capstone subject at La Trobe University.

LBS staff and students with Deloitte delegates

Watch this space next semester for updates!

LBS Innovation Series: How can universities strengthen firms’ innovative ability?

The next presentation in the LBS Innovation Series is by Dr Stephan Buse, Deputy Director of the Institute for Technology and Innovation Management (TIM) at Hamburg University of Technology (TUHH). Stephan talks about academia-industry collaboration and engagement, and how universities can strengthen firms’ innovative ability.

Frugal innovation

Stephan argues that to succeed in emerging markets, especially in powerhouses like China and India, many companies from industrialised nations have had to change their established business models. In this environment, to remain competitive, a new way of thinking and acting is required.  Frugal innovation is a strategic approach to deal with these new challenges.

According to Stephan, frugal innovation refers to products and services that seek to minimise the use of material and financial resources across the complete value chain. The objective is to substantially reduce not just price but the complete cost of ownership/usage of a product. By adopting this approach firms can develop products that bring better priced quality goods to the customer both in the Business-to-Consumer and Business-to-Business sectors. He also gives examples of strong university-industry collaboration through the use of ethnography an emerging tool used to better identify habits of consumers.

 

Watch his presentation below:

 

This blog is part of the LBS Innovation Series, developed by Dr Mark Cloney, Professor of Practice in Economics in the La Trobe Business School. The series was developed after the successful National Innovation Forum organised by La Trobe Business School, NORTH Link and Deloitte Consulting P/L.

More blogs in the LBS Innovation Series:

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