Overview

Class Central Tips

The 21st century competitive landscape is characterized by rapid technological change and globalization. How do companies compete and succeed in such an environment? First, companies must engage in continuous innovation to sustain their competitive advantage. This course is designed to equip students with a deep understanding of why innovation is paramount in the 21st-century landscape and how it influences the way companies compete today. Through a comprehensive exploration of topics like technology adoption life cycle, the product life cycle, disruptive innovation and blue ocean strategy, students will gain the knowledge and skills needed to thrive in a rapidly evolving marketplace. Second, companies must take advantage of the extraordinary opportunities that globalization presents and develop strategies to expand abroad and compete there. In this course, students will develop a deep understanding of how to analyze and evaluate international markets, select the best markets to enter, choose the optimal mode of entry and develop a strategy to compete in international markets. Upon successful completion of this course, you will be able to: - Articulate the significance of innovation in the 21st-century competitive landscape, delineate the factors affecting technology adoption and apply their understanding of the product life cycle stages to make informed strategic decisions regarding strategy. - Articulate the concept and theory of disruptive innovation and apply this understanding to evaluate and propose strategies for how incumbents can effectively respond to disruptive changes in their industry. - Articulate the fundamentals of Blue Ocean Strategy, including its core concepts of Non-customers and Value Innovation, and explain how new market spaces could be created. - Articulate the rationale behind companies expanding into international markets, demonstrate knowledge of how to analyze international markets, and how to select international markets. - Articulate the various non-equity and equity entry modes for international markets and integrate this knowledge to comprehend and explain strategic approaches for effectively competing in international markets.

Syllabus

Module 1: Innovation Strategy

Welcome to Innovation and International Strategy! In today's rapidly evolving business environment, staying ahead of the competition is more challenging than ever before. To navigate this dynamic landscape successfully, it is essential to have a comprehensive understanding of several key factors. By the end of Module 1, you will be equipped with valuable insights that can help you navigate the complex and competitive landscape of the 21st century.

Module 2: Disruptive Innovation

The concept of disruptive innovation has emerged as a pivotal force reshaping industries and challenging the status quo. In this module, we will delve into the core objectives of understanding and explaining disruptive innovation, comprehending the theory that underpins it, and exploring the various strategies that incumbents can employ in response to this disruptive force.

Module 3: Blue Ocean Strategy

The pursuit of sustainable competitive advantage has become more challenging than ever. In response to this dynamic environment, innovative strategic frameworks have emerged to guide organizations towards new horizons of growth and profitability. Among these groundbreaking concepts is the Blue Ocean Strategy, a transformative approach that encourages businesses to chart unexplored waters and create untapped market spaces. In this introduction, we will embark on a journey to explore the fundamental objectives of our module in three distinct parts.

Module 4: Expanding into International Markets

Businesses are constantly seeking opportunities beyond their domestic borders. The decision to expand into international markets is not taken lightly, as it involves a myriad of complexities and considerations. In this module, we will delve into the critical aspects of international market expansion, exploring why companies embark on this journey, the methods for analyzing potential international markets, and the strategic process of selecting target markets.

Module 5: Competing in International Markets

Expanding into international markets has become a strategic imperative for many companies seeking growth and sustainability. However, the path to internationalization is not one-size-fits-all; it requires a nuanced understanding of various entry modes and strategies to navigate the complexities of foreign markets successfully.

Summative Course Assessment

This module contains the summative course assessment that has been designed to evaluate your understanding of the course material and assess your ability to apply the knowledge you have acquired throughout the course. Be sure to review the course material thoroughly before taking the assessment.