Gain innovation strategy insights and learn to apply them to advanced and emerging contexts in business. Meeting today’s business and world challenges requires going beyond the thinking that created the challenges in the first place. This is where a good innovation strategy helps. On this course you will develop your knowledge of the challenges of open innovation, management innovation, platform innovation and emerging market innovation and learn how to meet them with a long-term approach.
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Using quizzes, the newest theoretical insights, cases on pioneering businesses, and thought-provoking debates with leading experts, you will solidify your knowledge of innovation.
What topics will you cover?
Week 1: What is innovation strategy?
Definition of innovation strategy
The shift towards open innovation
Case study: Procter & Gamble
Week 2: Are you engaging in the most strategic types of innovation?
The innovation pyramid
The five types of innovation
Case study: Alphabet (Google)
Week 3: Can you go from a product to a platform strategy?
The shift from product strategy to platform strategy
The building blocks of platform innovation
Case study: Videogame industry
Week 4: Is advanced still advanced and emerging still emerging?
The rapidly accelerating innovation pace in emerging markets
The types of innovation that emerging market firms use to challenge
The comparative advantages and disadvantages of emerging and advanced market firms in the global innovation market place
Case studies: GE in China and Huawei in Europe
What will you achieve?
By the end of the course, you'll be able to...
- Summarise what innovation strategy is and is not.
- Debate the widespread but increasingly out-of-date assumption that internal R&D is a sustainable long-term proposition.
- Describe key mechanisms of open innovation.
- Apply key mechanisms of open innovation to organizations in your own local context.
- Compare different types of innovation in a strategic framework.
- Debate the assumption that technological/radical innovation is the apex of innovation strategy.
- Explain that the leading companies in the world are adopting a platform strategy and not the commonly assumed product strategy taught in traditional management courses.
- Describe the building blocks of a platform strategy.
- Apply the three strategic moves that allow a platform organization to "win".
- Describe the importance of emerging economies in terms of their innovation capacity rather than their widely-assumed market potential only
- Describe the comparative advantages and disadvantages of emerging and advanced market firms in the global innovation market place.
