MGT 4020 Innovation Management

Innovation management combines the processes of innovation and change management to address the challenges of operating in fast-moving, competitive environments. This course explores the strategies and tools needed to drive meaningful change for organizational sustainability and growth. The student will examine key theories and develop fundamental skills in creative and innovative processes. The student will generate new ideas, design innovations, formulate implementation strategies, and critically assess their impact. Additionally, the student will analyze systems that may hinder or foster innovation and explore how to build and sustain a culture of innovation within organizations. (3 lect.)

Credits

3 credits

Major Topics

• The innovation mindset
• The relationship between marketplace and innovation
• Idea generation
• Assessment of ideas
• Failure and innovation
• 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. Prove how failure in management fosters an innovative organizational culture.

3. Critique how a product's lifecycle may impact organizational competitiveness.

4. Formulate strategies based on internal and external factors that shape innovation.

5. Evaluate how disruptive innovations have affected the marketplace.

6. Generate ideas through proven processes of creativity and innovation.

7. Develop potential strategies to reduce the risk of failure.

8. Produce evidence that demonstrates the viability and feasibility of innovative ideas.

9. Propose strategies for implementing and sustaining an innovative culture within an organization.