Bachelor of Business – Strategy and Innovation major

Bachelor of Business – Strategy and Innovation major

Your guide to majoring in Strategy and Innovation with the Bachelor of Business at RMIT.

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Student type:
Learning mode:
On campus
Entry score:

See course admissions

Duration:
Full-time 3 years
Part-time 6 years
Fees:

Commonwealth Supported Places

Next intake:
February, July
Location:
Melbourne City
Learning mode:
On campus
Entry score:

See course admissions

Duration:
Full-time 3 years
Fees:

AU$ 42,240 (2025 annual)

Next intake:
February, July
Location:
Melbourne City

Introduction to the major

When you choose the Strategy and Innovation major in the Bachelor of Business at RMIT University, you will join a dynamic community of aspiring entrepreneurs, business leaders and developers passionate about driving innovation within organisations. Along the way, you will build a strong professional network and gain hands-on experience to shape the future of industries and organisations.

Prepare to innovate and create the future of business. 

The Strategy and Innovation major is designed to equip you with the skills and knowledge to drive strategic insights and develop creative solutions in an ever-evolving business landscape. You will learn how to anticipate market shifts, harness emerging technologies, and implement innovative business models to help organisations adapt, grow, and transform. 

You will develop expertise in business strategy, innovation management, entrepreneurship, and digital transformation. Whether you're launching a start-up, driving corporate innovation, or leading strategic initiatives, this major will prepare you to navigate complexity, foster innovation, and create a lasting impact in a competitive global market.

You will engage in gamified learning, interactive simulations, and real-world business challenges to develop a deep, practical understanding of innovation and strategic decision-making. This major integrates contemporary research with hands-on, industry-informed learning, ensuring you're equipped with both theoretical insights and practical expertise.

Courses available with this major

Choosing a major is a key step in shaping your future. It gives you the chance to tailor your studies to your career goals and personal interests.

The major you choose will help you develop the skills and knowledge you need in your field, while also opening doors to valuable networking opportunities.

You will have the opportunity to take this major in the following courses:

Why choose to major in Strategy and Innovation with the Bachelor of Business?

Network-driven learning

Develop a strong professional network with industry leaders, entrepreneurs, and innovators through guest lectures, networking events, real-world projects and industry collaborations.

Research and industry-informed learning

This major blends cutting-edge research, real-world industry insights, and innovative teaching approaches to ensure you're equipped with the latest strategies and tools.

Future-ready, transferable skills

Develop a versatile skill set that prepares you for roles across diverse industries. From strategic foresight and digital innovation to entrepreneurial thinking and agile management, you'll gain in-demand skills that will future-proof your career.

The world of business has always interested me, and I am also quite a creative person; this course has allowed me to explore both interests in an exciting and meaningful way. Some subjects allow for more critical and analytical thought, and some allow for more creative expression. The industry-based nature of the course allowed for practical experiences, which aided me in the transition to working in a marketing department.

- Caitlin McCabe – Bachelor of Business Professional Practice 

Career outcomes

Graduates from RMIT's Strategy and Innovation major gain a solid foundation in the following key areas:

  • Disruptive innovation and emerging technologies
  • Creative problem-solving
  • Strategy and business model innovation
  • Entrepreneurial thinking and intrapreneurship
  • Business development
  • Change management and organisational transformation

These skills empower you to design and execute strategies that drive innovation and competitive advantage across various industries. By mastering the principles of strategy and innovation, you'll learn how to develop and implement creative solutions that address real-world business challenges.

With a Strategy and Innovation major, you'll be prepared for a diverse range of roles where you can apply your expertise. Whether you’re working as an innovation manager, product manager, business consultant, or start-up founder, your skills will help organisations not only thrive but also adapt and transform in a rapidly changing environment. In an era of constant disruption, businesses must innovate to survive. The demand for professionals skilled in strategy and innovation continues to rise,  as organisations seek to navigate uncertainty, drive transformation, and build resilience in an increasingly competitive landscape.

Salary expectations vary depending on the role and experience, but strategy and innovation professionals typically earn competitive salaries. For example, entry-level roles like innovation analysts can start at around AU$70,000 a year, while senior positions such as innovation managers or research and development managers can see salaries exceeding AU$100,000, depending on experience and industry.

Subject selection guide

Below is a guide to the roadmap for your major, outlining the subjects and progression through the course.

Please note that this is the recommended sequencing only and is subject to scheduling.

Year of study Semester of study Subjects
Year 1 Semester 1 1. BUSM2562 Understanding the Business Environment*
2. BUSM2567 Business Decision Making*
3. BUSM2709 Fundamentals of Business Strategy and Innovation+
4. Second Major subject OR Minor subject OR Business Option subject
Semester 2 1. BUSM2572 Business in Society*
2. BUSM2577 Integrated Perspectives on Business Problems*
3. BUSM2541 Critical and Analytics Approaches+
4. Second Major subject OR Minor subject OR Business Option subject
Year 2 Semester 1 1. BUSM1321 Driving Innovation in Organisations+
2. BUSM3125 Strategy+
3. Second Major subject OR Minor subject OR Business Option subject
4. Second Major subject OR Minor subject OR Business Option subject
Semester 2 1. BUSM4550 Innovation Management+
2. Select Strategy and Innovation Elective from the list+
3. Second Major subject OR Minor subject OR Business Option subject
4. Second Major subject OR Minor subject OR Business Option subject
Year 3 Semester 1 1. ISYS1051 Digital Business and Design Innovation+
2. Select Strategy and  Innovation Elective from the list+
3. Second Major subject OR Minor subject OR Business Option subject
4. Elective
Semester 2
 1. BUSM2582 Business Graduate Portfolio^
2. Second Major subject OR Minor subject OR Business Option subject
3. Elective
4. Elective

Elective options

Electives give you the opportunity to further specialise your studies. Choose two electives from the options below, depending on course prerequisites:

  • BUSM2615 Open Innovation
  • BUSM4177 Leadership
  • BUSM1222 Global Business
  • BUSM1074 Negotiation and Conflict Resolution
  • BUSM1202 Managing Change.

Refer to the Higher Education course guides to learn more about individual subjects.

Key to subject selection

Foundation subject *
Major subject +
Capstone subject ^

Complementary majors and/or minors

By integrating a second major or a range of minors you will deepen your expertise in a specialised area while gaining a well-rounded understanding of how your chosen interest's principles intersect with other fields.

This combination of knowledge and skills will prepare you for the complexities of the modern business landscape and equip you to make a meaningful impact in your chosen career path.

All majors and minors in the Bachelor of Business are complementary. Suggested combinations are listed below: 

Entrepreneurship major

The Entrepreneurship major enriches the Strategy and Innovation major by equipping you with skills to launch and manage innovative ventures. This focus on entrepreneurial thinking helps you transform creative ideas into successful business solutions, fostering a culture of innovation.

Marketing major

The Marketing major complements Strategy and Innovation by offering expertise in consumer behavior and brand management. This knowledge is crucial for developing innovative products and strategies that effectively engage target audiences and meet market needs.

Global Business major

The Global Business major provides insights into international trade and cross-cultural communication. This understanding is essential for navigating global markets and developing innovative strategies that address diverse challenges, enabling impactful solutions with a worldwide reach.

Economics major

The Economics major enhances the Strategy and Innovation major by providing insights into resource allocation and market behaviours. This understanding helps you analyse trends and make informed strategic decisions that drive innovation and address societal challenges.

Bachelor of Business full course information

This is just one of the 14 majors that you can choose from. Visit the Bachelor of Business course page to find full course information, explore your study options, and get details on entry requirements, pathways, fees, plan structure and how to apply.

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Acknowledgement of Country

RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Sentient' by Hollie Johnson, Gunaikurnai and Monero Ngarigo.

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