Innovation: From Plan to Product (edX)

This course introduces an evidence-based approach to innovation management with the aim of providing students with the capability to understand the strategic value of information and the tools and techniques that can be used to analyze and use that information to improve decision-making. Tools include: customer discovery, prototyping, financial modeling, business plans and forecasts.

Students will learn how to apply the most effective tools in developing sustainable business models by exploiting viable, validated opportunities in rapidly changing environments where traditional strategic management approaches are less effective.

This course is part oh the Corporate Innovation MicroMasters program.

What you'll learn

- How design techniques can help businesses to develop market relevant ideas,

- How to use financial decision-making techniques to improve innovation outcomes,

- Adapt and apply strategic and operational management frameworks and tools necessary for innovation leadership,

- Overview of planning and problem solving methods,

- Relationship between and use of business models and business plans.

Syllabus

Week 1: Why do innovations fail?

Analyze the factors that lead to the failure of innovation

Week 2: Business models and innovation

Explain and apply the role of the business model in capturing value from innovation

Week 3: Value chains and Industry Networks

Introduce value chains and their use for innovation including within industry networks and multi-business projects

Week 4: Designing and testing innovation options

Identify how design thinking can help innovation, including technologies that can be used during the designing and testing of innovation concepts

Week 5: Managing for now and the future

Describe how portfolio approaches can be used to scale up innovation

Week 6: Introduction to valuing innovation

Introduce valuation, discounted and dynamic cash flow modeling and the relationship between financial tools and innovation

Week 7: Managing implementation projects

Outline project management tools for use in innovation projects including stage gate, network and knowledge management

Week 8: Structured problem solving for planning

Demonstrate competence in adapting and applying the strategic and operational managerial frameworks and tools necessary for innovation

Week 9: Business plans

Identify the value of innovation business plans

Week 10: Managing uncertainty and risk in innovation

Explain how organizations respond to shifting workplace dynamics, customer expectations or technological advances