To create and bring to market innovative ideas, entrepreneurs invest substantial resources in their creation without being certain their idea will be successful. How do entrepreneurs manage this process? What strategies do they use? What role does the innovativeness of their ideas play in the strategies they adopt? How do they maintain motivation when faced with setbacks?
In this course, we tackle these questions by focusing on:
• Types of innovations and their market impact; • The importance of taking action, knowledge, learning and resources in the creation of innovative ideas; • How entrepreneurs make strategic decisions under uncertainty; • The Management of intellectual property; and • Maintaining motivation in the face of setbacks
By drawing on the case of Google Glass, their own experiences and ideas, students are encouraged to synthesize knowledge from each Module to gain an in-depth understanding of the complexity of innovation process.
Module 1 Perspective on how ideas are developed Discover how entrepreneurs come up with ideas and the processes they use to bring innovative ideas to market
Module 2 Types of innovation Understand the various innovation typologies based on different dimensions of the innovation space
Module 3 Uncertainty and decision making Gain an understanding of uncertainty and how it influences strategic decision making
Module 4 Discovery strategies Learn about the practice of navigating uncertainty to discover new strategies to establish and grow innovation in a corporate setting
Module 5 Knowledge and resources Appreciate the role resources and capabilities play in the identification of innovative ideas
Module 6 Innovation evaluation and selection Discover strategies for assessing the feasibility of ideas
Module 7 Protecting intellectual property Understand the importance of IP, IP protection options (IPRs), selecting the right option, managing IP generation
Module 8 Commercialization feasibility Unpack the 12-step framework for assessing commercialization feasibility
Module 9 Motivation, commitment and resilience Understand the importance of knowing when to abandon an idea, contingency planning and resilience
Module 10 Maintaining motivation Discover strategies for maintaining motivation when learning from setbacks