MGT 4020 Innovation Management
Innovation management is the combination of innovation processes and change management. This course examines the challenges of operating in a fast-moving economy and hyper-competitive environments. The course analyzes the means necessary to create desired changes for sustainability and growth. Theories and fundamental skills associated with creative and innovative processes are fully examined. The student will formulate new ideas, design, innovations, formulate implementation strategies, and critique the impact. The student will investigate systems that may stifle innovation or encourage innovation, and contribute to a sustainable culture of innovation in organizations. (3 lect.)
Major Topics
- The Innovation Mindset
- The Relationship Between Marketplace and Innovation
- Idea Generation
- Assessment of Ideas
- Developing an Implementation Strategy
- Creating and Sustaining an Innovative Culture
Outcomes
In order to successfully complete this course, the student will:
1. Evaluate the characteristics of an innovation mindset.
2. Explain how innovation contributes to organizational performance.
3. Assess how a product's lifecycle may impact organizational competitiveness.
4. Formulate the internal and external factors that shape an innovation.
5. Interpret how disruptive innovations have affected the marketplace.
6. Generate ideas through proven processes oi creativity and innovation.
7. Formulate potential strategies to redu'ce the riskof failure.
8. Produce evidence that innovative ideas are viable and feasible.
9. Create implementation strategies for innovations.
10. Incorporate strategies for sustaining an innovative culture.