MGT6705
Innovation
This course explores the discipline of innovation and management. Students will investigate and discuss the changes and challenges in today’s marketplace as a driving force for innovation. Topics include the foundations of innovation, strategically managing and leading innovation, reverse innovation, disruptive innovation, risk versus reward, initiatives and processes, developing talent, social innovation, marketplace challenges, new initiatives, managing innovation, sustainability, and ethical innovation.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Defining the importance of being able to adapt to today’s marketplace challenges and competition by creating an innovative organization.
- Understanding how demographics and the marketplace drive innovation.
- Exploring the models and different types of innovation.
- Understanding how innovation helps grow and sustain a business.
- Understanding the importance of brainstorming new innovative ideas.
- Understanding how to turn an idea into an initiative.
- Understanding the process of new initiative implementation.
- Exploring the concept of social innovation.
- Understanding the role of innovation teams within the organization.
- Understanding how organizational culture affects innovation initiatives.
- Understanding the concept of reverse innovation.
- Exploring the concept of disruptive innovation.
- Understanding how to use a Customer-Centered Innovation Map.
- Managing risk versus reward.
- Understanding ethics as it relates to innovation.
- Understanding the importance of leadership and communication during the innovative process.
- Assessing the importance of sustainability.
- Discussing lessons learned and issues to be addressed for future organizational success.