Innovation Management, for MSc Management students, Imperial College Business School
Innovation management is one of the most challenging and exciting areas of managerial practice. In many industries, the ability to innovate is critical to building and sustaining competitive advantage. It provides the means to allow organisations to grow and prosper. Innovation is about more than generating ideas; it is also about implementing these ideas and capturing value from them. Although innovation is inherently complex and uncertain, there are a range of tools and practices that can help organisations be more successful at the development of new products, processes, and services.
Drawing on the experiences of leading innovators, this course aims to equip students with the skills to organise and shape the innovation process within modern organisations. The course is organized around three key analytic frameworks (see picture left): the adoption of innovation, capturing value from innovation, and timing of entry in new markets, followed by a discussion of four main managerial challenges around innovation (see picture right): how to manage creativity, how to manage open innovation, how to manage R&D in globalized world, and how to manage knowledge sharing.
The course draws on insights from my own research as well as the Business School’s broader research program on innovation, which includes research with leading innovators, such as IBM, Arup, Nokia, P&G, HP, Tata and others. By the end of the course, students should be able to understand and interpret managerial strategies associated with different types of innovation. They should know the different ways of seeking to profit from their innovations and how best to organise the innovation process within the firm.
Strategic networks for innovation and change, MBA elective Imperial College Business School
Planned for June 2017
The competitiveness of organizations does not exclusively depend on the financial and human capital at their disposal, but also on their social capital: the strategic value of the network relationships they hold. Although most will agree that networks within and between organizations matter somehow, it is much less self-evident how the potential of networks can best be leveraged, and how the most effective networks are built. This course focuses on how networks may help individuals, entrepreneurs, and organizations to create value. More specifically, it aims to generate insights into the role of interpersonal and inter-organizational interaction in the achievement of creative outcomes, innovative performance, organizational change and competitive advantage.
The main learning objectives are two-fold:
- Through the coursework and interactive in-class network simulations and exercises, students will get first-hand insight into the inner workings of their own professional networks and learn valuable lessons for the management of their social capital for driving innovation or enabling organizational change.
- Through case studies and exposure to key network analytic concepts in class, students will obtain key strategic insights into how organizations can best build and leverage networks (within and between organizations; online and face-to-face) to orchestrate organizational change and generate competitive advantage.
At the end of this module students will be able to:
- apply and interpret network analytic tools to map networks within and between organizations;
- critically reflect on their own social capital and identify concrete pathways for enhancing their social capital for driving innovation or enabling change;
- critically reflect on how different personalities or different situational circumstances require different networking practices;
- advise organizations on how to manage intra-organizational communication to facilitate innovation and change;
- advise organizations on how to external collaboration (e.g. strategic alliances; partnerships) to better leverage social capital for firm competitiveness;
- coach entrepreneurs in how to best pursue embeddedness in local entrepreneurial clusters and connectedness to global stakeholders.