Strategic Innovation: Managing Innovation Initiatives

Start Date: 07/05/2020

Course Type: Common Course

Course Link:

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About Course

You may have noticed that what is new often behaves differently than what has become accepted over time, whether it is in a market, or a technology, or involves people and firms. Much research supports these general ideas, and this course builds on them to help you develop a perspective on managing innovation. That is, you will build your capability to lead and design your organization in effectively implementing innovation initiatives and achieving their strategic intent. To do this, you will learn a set of frameworks, tools, and concepts that can help you address several important challenges in managing innovation. The first challenge regards how to successfully implement innovation efforts within established firms and alongside established businesses. You then investigate the particulars of managing innovation when disruptive technologies are involved. Other topics include leadership of new product development teams, planning and evaluation of innovation initiatives, and management of innovation across organizational boundaries, as happens with alliances or virtual firms.

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Course Introduction

Strategic Innovation: Managing Innovation Initiatives This course will help you to create the most effective innovations program within your organization. We will focus on four key areas: 1. Managing innovation across functional disciplines within your organization 2. Managing innovation across organizations 3. Managing innovation across organizational styles 4. Managing innovation across functions We will focus on these key areas because they are the most important for your organization’s future. In this course, you will get to know your own organization's unique context, and you will be able to create the most effective innovation program for your organization. This course is also a chance to develop your critical thinking skills, so that you are able to analyze and critique successful programs, and to evaluate the effectiveness of your own program. This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and 1: Co-creating Innovation Process Module 2: Managing Innovation Within Organizations Module 3: Managing Innovation Across Operational Styles Module 4: Managing Innovations Across Fittings Strategy Implementation Capstone In this strategy implementation capstone course, you will implement a comprehensive strategy of a firm across multiple disciplines, taking advantage of the latest in strategy creation and analysis technology

Course Tag

Management Innovation Disruptive Innovation Innovation Management

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Innovation Edison et al. in their review of literature on innovation management found 232 innovation metrics. They categorized these measures along five dimensions i.e. inputs to the innovation process, output from the innovation process, effect of the innovation output, measures to access the activities in an innovation process and availability of factors that facilitate such a process.
Open sustainability innovation Open Sustainability innovation is the use of open innovation in the development of sustainable products, services and initiatives.
Innovation Another source of innovation, only now becoming widely recognized, is "end-user innovation". This is where an agent (person or company) develops an innovation for their own (personal or in-house) use because existing products do not meet their needs. MIT economist Eric von Hippel has identified end-user innovation as, by far, the most important and critical in his classic book on the subject, "The Sources of Innovation".
Innovation Two main dimensions of innovation were degree of novelty (patent) i.e. whether an innovation is new to the firm, new to the market, new to the industry, and new to the world and type of innovation, whether it is process or product-service system innovation.
Innovation Given the noticeable effects on efficiency, quality of life, and productive growth, innovation is a key factor in society and economy. Consequently, policymakers have long worked to develop environments that will foster innovation and its resulting positive benefits, from funding Research and Development to supporting regulatory change, funding the development of innovation clusters, and using public purchasing and standardisation to 'pull' innovation through.
Innovation journalism Birgitta Forsberg published in 2005 a guide to how to research and write innovation journalism stories. In 2009, Samaa TV in Pakistan was awarded the National Corporate Social Responsibility Award for social initiatives it achieved through Innovation Journalism.
Innovation journalism In 2009, Nordfors published a summary of concept development, academic research and the ongoing innovation journalism initiatives around the world
Innovation For the political level, measures of innovation are more focused on a country or region competitive advantage through innovation. In this context, organizational capabilities can be evaluated through various evaluation frameworks, such as those of the European Foundation for Quality Management. The OECD Oslo Manual (1995) suggests standard guidelines on measuring technological product and process innovation. Some people consider the Oslo Manual complementary to the Frascati Manual from 1963. The new Oslo manual from 2005 takes a wider perspective to innovation, and includes marketing and organizational innovation. These standards are used for example in the European Community Innovation Surveys.
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Innovation district The first official innovation districts were in Barcelona, Spain with 22@ and in Boston, Massachusetts with the Seaport Innovation District. Following these two initiatives, mayors across the globe have replicated variations of this model in their own cities. Today, there are over 80 official innovation districts worldwide.
Innovation system Innovation systems have been categorized into national innovation systems, regional innovation systems, local innovation systems, technological innovation systems and sectoral innovation systems.
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Innovation journalism Innovation Journalism is journalism covering innovation. It covers innovation processes and innovation (eco)systems.
Innovation The theme of innovation as a tool to disrupting patterns of poverty has gained momentum since the mid-2000s among major international development actors such as DFID, Gates Foundation's use of the Grand Challenge funding model, and USAID's Global Development Lab. Networks have been established to support innovation in development, such as D-Lab at MIT. Investment funds have been established to identify and catalyze innovations in developing countries, such as DFID's Global Innovation Fund, Human Development Innovation Fund, and (in partnership with USAID) the Global Development Innovation Ventures.
Innovation Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. This is accomplished through more-effective products, processes, services, technologies, or business models that are readily available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. It is related to, but not the same as, invention. Innovation is often manifested via the engineering process. The opposite of innovation is exnovation.
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Innovation Diffusion of innovation research was first started in 1903 by seminal researcher Gabriel Tarde, who first plotted the S-shaped diffusion curve. Tarde defined the innovation-decision process as a series of steps that includes:
Innovation The Kline chain-linked model of innovation places emphasis on potential market needs as drivers of the innovation process, and describes the complex and often iterative feedback loops between marketing, design, manufacturing, and R&D.
Innovation journalism There have been national innovation journalism initiatives including Fellowship program in collaboration with Stanford University in Sweden, Finland, Slovenia, Mexico and Pakistan.
UNDP Innovation Facility The Innovation Facility offers technical assistance and seed funding to collaborators across 170 countries and territories to explore new approaches to complex development challenges. Since its inception, the Innovation Facility has fostered innovation labs across all 5 regions to better deliver and monitor SDGs. In 2015, the Innovation Facility invested in 62 initiatives across 45 countries to achieve 16 SDGs.