Companies and innovation: economical, ethical, juridical and safety perspectives

Minor code:MOT-MI-191
Maximum number of participants:50


Companies relate to their (social) environment in different ways. Firstly, through exchange with market(s); there, the laws of economics rule: supply and demand, investment, financing and marketing. Secondly, restrictions (or opportunities) set by the enforcing rules of the law. This is how society puts its demands on the entrepreneur. The legislator demands there is competition and price arrangements are forbidden. Furthermore, there are considerations regarding safety and risk, which are closely related. Current opinions about what is ‘good’ and ‘evil’ determine the playfield of the company. A successful company is able to connect the playfields of market, law, ethics and safety.

In this minor we will look specifically to developments in technology within companies and the social factors and restrictions surrounding these. Insight into these links is important to make sensible decisions and to be able to design products that are both technologically and socially relevant and acceptable.

The objective of the minor 'Companies and innovation' is to offer students insight into how economics, law, ethics and views on risk and safety influence technological developments, innovation strategies, and responsibilities of companies. The focus on social issues and the role of industry - for instance, corporate social responsibility and risk-conscious innovation - make the minor relevant, attractive and challenging for enterprising students, students interested in management & policy and for students wishing to overall broaden their horizon.

What do you learn?

The objectives of the minor are:

  • Analyze internal organizational processes, i.e. to be able to identify organizational, technological and market factors that influence innovation, success and failure;
  • Identify critical financial factors for the development of an innovation strategy;
  • Carry out risk and safety analyses to prevent and/or repress accidents and security incidents. Special attention will be given to ICT and safety/ security in relation to business economical analyses and considerations;
  • Reflect on the corporate responsibility of (innovative) companies from an ethical perspective;
  • Model social responsibility specifically within a company through a case study; i.e. policy, governance, human resources, culture, innovation strategies, business-economic analyses.

Additionally, the minor provides students with:

  • A broad view on economical, juridical, ethical-philosophical boundary conditions and demands regarding risk and safety - within as well as outside the corporation - provide limitations as well as incentives for innovation by companies;
  • A basis to collaborate in interdisciplinary work relations with managers and policy makers;
  • A basis for responsible entrepreneurship.

Overview subjects

  • Business economics, choice of technique and innovation (5 ECTS)
  • Responsible management of risk and safety (5 ECTS)
  • Technology and law (5 ECTS)
  • Technology, Innovation and ethics for companies (2,5 ECTS)
  • Formal methods for strategic decision-making (2,5 ECTS)
  • Methods for risk analysis and management (5 ECTS)
  • Integration course (5 ECTS)

For whom?

Enterprising students, students interested in management & policy and for students wishing to overall broaden their horizon.

More information

Dr. F.W. Guldenmund