This course has two components
Strategic Innovation: Building and Sustaining Innovative Organizations
Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs and capturing value back from consumers.
At the core of a successful innovation strategy is a great product concept. Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. There are the three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW). But well-laid innovation plans can go awry without a consideration of the business ecosystem that includes collaborators including suppliers, distributors, and retailers, or the contextual environment in which the company operates. In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success.
Drawing from many years of research, this course will offer a set of frameworks, tools, and concepts in order to develop innovative strategies in a holistic way so as to achieve leadership positions.
Upon successful completion of this course, you will be able to:
- Design appropriate value propositions forthe target consumer segments;
- Leverage the understanding of the industry context in the development of innovative strategies;
- Develop a winning product combination that aligns company capabilities with consumer expectations; and
- Ensure a win-win-win strategy for the company, consumers, and the ecosystem by mapping the company’s offeringswithin the broader business ecosystem in order to ensure that the integrated system delivers unique and differentiated value to consumers.
Strategic Innovation: Innovation at the Frontier: An Exploration of Cutting-Edge Topics
In his influential book, The Innovator’s Dilemma, Professor Clayton Christensen, introduced the term disruption to the popular lexicon. Disruption refers to the failure of well-managed firms to succeed when faced with technological change associated with disruptive technologies, i.e. technologies that are inferior in the beginning but get better soon enough to precipitate the failure of entrenched firms. The very practices that made incumbent firms successful in managing sustaining technologies may actually prove to be debilitating while managing disruptive technologies.
Drawing from many of collective research in disruptions, this course will offer a set of frameworks, tools, and concepts in order to manage the unique challenges and develop innovative strategies while managing disruptive innovations so as to achieve leadership positions.
Upon successful completion of this course, you will:
- Understand the concept of disruption
- Develop a framework to manage disruptive innovations
- Understand how a company can move from being a pipeline company to a platform company
- Learn about cutting edge topics in innovation such as crowdsourcing, open innovations and user innovations.