Innovation Management

Module aims

The aim of this course is to demonstrate that new technologies are vital but no longer enough to sustain and grow business. The pace of new technology development and globalisation requires new ideas, new processes and new business models. The aim of this module is to give students key principles of innovation management from knowledge co-creation to developing sustainable business models. The course will focus on open innovation practices, business models, user-inspired innovation and developing innovation culture, networks and creativity in order to succeed. 

Learning outcomes

On successfully completing this module, students will be able to: 

  • discuss differences between current and past research & development (R&D) trends
  • describe open innovation concept and understand various types and channels of open innovation 
  • understand strategic approaches for sustainable innovation  
  • develop management processes required for organising for innovation
  • understand IP management strategies 
  • understand business models behind successful companies 
  • apply creative thinking techniques to develop, analyse and select ideas 
  • understand organisational culture and skills required for innovation

Module syllabus

The outline is included below. There will be a careful balance between theory and practice deploying the relevant theoretical underpinning and illustrating theoretical insights with relevant business examples.

 Lecture  1. Introducing innovation

  • disruptive innovation
  • the Innovator's dilemma
  • knowledge as a source of competitive advantage
  • technology S-Curve and market diffusion S-Curve

 Lecture 2.  Open innovation: context, concept, trends

  • types of open innovation
  • innovation ecosystems 
  • innovation intermediaries (e.g. InnoCentive, NineSigma, Big Idea Group, Ocean Tomo)

 Lecture 3.  Innovation strategy

  • innovation strategies
  • blue ocean strategy
  • open services innovation 
  • innovation value chain

 Lecture 4. Organising for innovation

  • innovation enablers
  • management innovation
  • building an innovation culture
  • design-driven innovation
  • systems approach
  • innovation metrics

 Lecture 5.  Business model innovation

  • developing  business models
  • business model canvas
  • open business models

 Lecture 6.  Executing innovation

  • innovation management
  • corporate venturing
  • technology start ups
  • marketing innovation - a power of co-creation

 Lecture 7.  Protecting and exploiting innovation

  • types of IP
  • IP strategies
  • IP-based business models

 Lecture 8.  Sustaining innovation - creative thinking techniques

  • generating new business ideas
  • creative thinking techniques (e.g. brainstorming, morphological analysis, Osborn's list)

 Lecture 9.  Sustaining innovation - leadership

  • vigilant leaders
  • innovator's DNA 

 Lecture 10.  Innovation in aeronautics & Group presentations

  • biologically inspired technologies
  • examples of innovation technologies and business models in aeronautics
  • Group presentations 

Teaching methods

Lectures, group discussions, case studies, private study – supplemented and supported by appropriate readings and articles delivered via Blackboard. 

Assessments

Examined Assessment
2-hour written examination in January (90%)
Group presentations (10%)

Reading list