Innovation is a critical activity for most firms. In fact, many of the most successful firms derive a large portion of their revenue from new products, for example, 3M’s objective is for 40% of its revenue to be derived from new products. However, to achieve such an objective is no small task; it is a significant challenge for most organisations, regardless of size. This course is designed to highlight what these challenges are, why they arise (or exist), and how we can manage them.
Ultimately, in today’s business environment it is hard to avoid the challenges that arise from innovation. Indeed, at some point in your career (as a general manager, a product manager, an entrepreneur, a consultant, or even a private equity manager) you will face challenges associated with some new product and/or service development. In this course we use a selection of readings, case studies, in-class exercises, and a term long project to prepare you to identify and manage the innovation process. Ultimately, the Managing the Innovation Process module provides you with comprehension of the managerial and operational challenges associated with each stage of the product and service development process; proficiency with a set of managerial tools and methods for effective product and service development; and competence to manage interdisciplinary tasks in order to achieve a common goal.