Management of Innovation

Course Overview:

No matter what your role is in your organization, you and your employees can contribute to your company’s innovativeness—its ability to create new products and services, devise more efficient processes, and design fresh, profitable business models. Innovation is vital to your organization’s ongoing health and growth. And when companies grow through innovation, industries and even entire economies grow—raising the standard of living for society. But despite innovation’s value, many managers struggle with the unique challenges presented by this business discipline.

This course aims to equip students with the knowledge to understand and the skills to manage innovation and change at the operational level. The management of innovation and change is inherently interdisciplinary and multi-functional, so we aim here to provide an integrative approach. Specifically, we aim to integrate the management of market, technological and organizational change to improve the competitiveness of firms and effectiveness of other organizations. We will examine the argument that the process of innovation management is essentially generic, although organization, technological and market specific factors will constrain choices and actions. The course will review a number of processes that contribute to the successful management of innovation, which are based on internal knowledge and competencies, but at the same time fully exploit external sources of know-how.

Course Objectives:

  1. Generate new ideas
  2. Reduce Risk
  3. Compete for new customers                                                           Course Expectations:

Because so much of the class will be “hands-on” and because feedback (Teacher’s, and the feedback you give each other) is so important to improving writing and speaking, our expectations about our work together this semester include:

  • That you are committed to improving your professional effectiveness as a management student.
  • That you are willing to share your opinions and ideas on topics presented in class.
  • That you will provide each other with clear, honest, concrete, and sensitive feedback on work that is done.
  • That any concept that is unclear or confusing will be challenged and examined. That there are no stupid questions or comments.

Course Contents:

Part One: Myths about Innovation                              

(Week 01, 02)

  • The Road to Disruption
  • Toppling the Walls Surrounding Corporate Creativity
  • Lost in Translation
  • Six Surprising Insights about Innovation

Innovation Insights:

  • Kodak’s Moment of Truth
  • No Schedules, No Meetings, No Joke at Best Buy
  • The Soul of a New Microsoft

Part Two: Applying Innovation Strategies                                                  (Week 05, 06, 07, 08,)

  • The new Rules of R & D
  • Performance, Convenience, Price
  • Where does the Competitive Advantage lie?
  • Innovation Inside
  • Is Risk the Cost of Innovation?
  • Ambidextrous Innovation

Innovation Insights:

  • JP Morgan’s Grand Design
  • BMW’s Dream Factory
  • The Vuitton Money Machine

Part Three: Testing an Idea’s Potential                                                        (Week 10, 11, 12, 13, 14, 15,)

  • Can You Spot the Sure Winner?
  • Sometimes a Great Notion Isn’t Yet a Great Product
  • Is Your Product-Development Process Helping—Or Hindering—Innovation?
  • Disruption is a Moving Target
  • Are You Reading the Right Signals?

Innovation Insights:

  • A Sea Change in Software at SAP
  • Why Kraft Is on a Crash Diet?
  • Repositioning Any Brand with Pop Culture

Recommended Readings:

  1. Nigel King & Neil Anderson (2007) Managing Change and Innovation.
  2. The Results-Driven Manager: Creating Breakthrough Innovations. Harvard Business School Press
  3. Bruce Berman (2006) Making Innovation Pay: People who turn IP into Shareholders’ Value. John Willey & Sons, Inc.
  4. Roman Boutellier, Oliver Gassmann, & Maximilian Von Zedtwitz (2008) Managing Global Innovation: Uncovering the secrets of future competitiveness. Springer-Verlag Berlin Heidlberg
  5. Jan Fagerberg, David C., Mowery, & Richard R., Nelson (2004) The Oxford Handbook of Innovation. Oxford University Press
  6. Arthur B., Van Gundy (2007) Getting to Innovation: How asking right questions generates the Great Ideas Your Company needs. New York: American Management Association
  7. Scott Berkun (2007) The Myths of Innovation. O’Reilly Publishers
  8. Robert E. Johnston, JR. and J. Douglas Bate (2003) The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities. American Management Association
  9. Kay Allison (2005) Secrets from the Innovation Room: How to Create High-Voltage Ideas That Make Money, Win business, and outwit the Competition. McGraw-Hill Publishers
  10. Gary Hamel, & Bill Breen (2007) The Future of Management.
  11. Jane Henry & David Mayle (2002) Managing Innovation and Change.
  12. Bettina Von Stamm (2008)Managing Innovation, Design and Creativity

 

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