What you’ll learn
- What Innovation Management is and how it relates to business strategy
- How macroeconomic indicators play a role in shaping policy
- How to determine your organization’s propensity for innovation
- How to Assess your organization’s innovation capability
- Increasing your ability in creating fresh new possibilities and implementing them in personal life.
- The role of organizational structures and strategies in innovation
- Understand the enablers and inhibitors of bringing out the innovation and creativity of people.
- Fundamentals of change management and its relevance to innovation.
- Fundamentals of intellectual property and its management.
- Have a high-level overview of innovation in product development and in operations management.
The course seeks to introduce the concepts of innovation and how it relates to business strategy. It aims to provide a guide to the key facts, ideas, theories, and thinking about enterprise and innovation, to look at their relationship to businesses, and to consider the methods that are taken to promote and finance them.
Innovation plays an integral role in entrepreneurial activities. Joseph A. Schumpeter introduced the concept of innovation as ‘creative destruction’ to the definition of entrepreneurship. He argued that ‘new combinations’ of behavior create ‘enterprise’ and that the individuals who carry out this process are entrepreneurs. These combinations include the introduction of new goods, the quality of those goods, the method of production, the opening of a new market, new sources of supply, and the new organization of industry.
Management research confirms that innovative firms – those that are able to use innovation to improve their processes or to differentiate their products and services – outperform their competitors, measured in terms of market share, profitability, growth, or market capitalization.
However, the management of innovation is inherently difficult and risky: most new technologies fail to be translated into products and services, and most new products and services are not commercial successes. In short, innovation can enhance competitiveness, but it requires a different set of management knowledge and skills from those of everyday business administration.
Who this course is for:
- Students don’t need to have any previous knowledge or experience of business or innovation.
- The course is for those who are interested in entrepreneurship and innovation.
- Budding entrepreneurs, potential business owners, business studies students who are intending to start their own business and not just read about it.
- Introduction and Innovation Management
- The Social and Economic Dimensions of Innovation
- Innovation in Business Models
- The Essentials of Product Innovation
- The Essentials of Process Innovation
- The Innovative Organization:
- Leadership in Innovation
- Managing Change – Innovation and Change
- Service Innovation
- Innovation in Product Development