Strategic Innovation: Building and Sustaining Innovative Organizations

Instructor: Raj Echambadi , E. Geoffrey Love

Beginner Level • 1 week at 10 hours a week • Flexible Schedule

What You'll Learn

  • Apply theories and frameworks toward the analysis and formulation of strategies for creating and capturing value through technological innovations.
  • Develop an ability to think strategically and make decisions under uncertainty and risk.
  • Develop skills in performing analytic research and preparing professional reports.
  • Develop skills in managing diverse teams and working under time and resource constraints.

Skills You'll Gain

New Product Development
Value Propositions
Product Lifecycle Management
Technology Strategies
Competitive Analysis
Strategic Decision-Making
Market Dynamics
Business Strategy
Intellectual Property
Team Management
Business Modeling
Innovation

Shareable Certificate

Earn a shareable certificate to add to your LinkedIn profile

Outcomes

  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate

There are 4 modules in this course

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Module 1 provides a lifecycle perspective of the link between innovation and strategy. We will examine where innovations come from, how they change over time, and how these changes influence firms’ incentives to invest in different types of technologies. We will also discuss customer adoption and how this shapes firms’ decisions of whether and when to enter new markets. We will also learn about prospect theory and how it relates to developing successful winning innovations.

This module focuses on how innovating entrants can disrupt industry leaders. We will learn the concepts of sustaining and disruptive innovation and consider frameworks for how entrants can leverage disruptive innovations to overcome incumbents’ competitive advantage. We will also consider how incumbents can and should respond to disruptive innovations.

This module examines innovation and firm boundaries. We will consider when firms should invest in developing innovations internally versus when they should pursue an “open” strategy by seeking new ideas and technologies outside the firm. In addition, we will learn about different mechanisms that enable firms to capture value from innovations, including the importance of patents and specialized assets and capabilities in providing a competitive advantage. Finally, we will consider when innovators should forward integrate to compete with other firms in product markets and when they should license their innovations to other firms in technology markets.

In this module we examine multi-sided platform businesses. Platforms enable firms to both create and capture value by bringing together sellers and buyers and controlling the transactions between them. We will distinguish between value chain and platform businesses, and we will examine the critical role of various players in a platform. In addition, we will learn about network effects, which are central to enabling and sustaining multi-sided platforms.