• Know basic concepts of innovation and the management of innovation.
• Know basic fields/subjects touching the area of innovation and innovation management (as, e.g. entrepreneurship, economics, marketing, organization, industry development).
• Apply these theories/concepts and their specific tools in case studies.
• Identify sources for creative ideas for companies, both company-internally and company-externally. They are able to do so theoretically (on the basis of the literature provided in the course) and also practically (in a case).
• Evaluate the business ideas identified, using specific characteristics derived from the literature provided in the course (e.g. realizability, value, novelty, etc.).
• Analyze and evaluate the causes and effects of the introduction of an innovation.
• Reflect on (literature about) innovation management, entrepreneurship, economics, marketing, and organization.
• Compare different streams of research/theory with regards to the topics mentioned, to understand and use the tools provided in the literature and to connect the literature to their specific case/project.

Aim of the course

The course aims at developing the capabilities needed to manage innovation from its early stages to the introduction of products or services in the market and the strategic positioning of the firm within its industry based on its innovative portfolio.

Content

Innovation is a cornerstone of competitive advantage and firm growth. In this course, we will focus on how firms can strategically leverage different types of innovation to compete on the global market place. Special emphasis is placed on technological innovation, which is at the core of successful companies like Apple or Samsung. This introductory course to the strategic management of innovation and technology will discuss theories, models and tools that are central to managing the identification, development and commercialization of innovations, plus the consequences of doing so in a competitive environment. Core topics with regards to innovation management are for instance, knowledge about the various types and characteristics of an innovation and innovative activities, how to search for novel ideas, what tools to use inside and outside of the firm to evaluate promising ideas efficiently and accurately, as well as various forms to develop innovations inside and outside of the firm.

In addition to the basics of innovation strategy, the course will introduce insights and tools from fields such as entrepreneurship (e.g. how and why individuals identify promising opportunities while others do not), economics (e.g. the roles and powers of different players within an industry and the effect of various market forms), marketing (e.g. how the transfer from early, small market segments to broad market segments can be managed), finance (e.g. how high-tech start-ups can access different financing sources such as Venture Capital), organization (e.g. how organizations change when introducing important new products and services), and management (e.g. how new business models in the area of open and distributed innovation can look like).

Apply the overall knowledge developed in the course in specific cases.

Core reading:
 

• Schilling, Melissa A. (2013). Strategic management of technological innovation (4th edition), McGraw-Hill, New York.

Additional literature:

• Bower, Joseph L. and Clayton M. Christensen (1995). Disruptive technologies: catching the wave. Harvard Business Review: January-February 1995, 43-53.
• Chesbrough, Henry W. (2007). Business model innovation: it’s not just about technology anymore. Strategy & Leadership: 35 (6), 12-17.
• Chesbrough, Henry W. (2003). The era of open innovation. MIT Sloan Management Review: 44 (3), 35-41.

More literature to be announced in the syllabus