Ideation & Opportunity Validation

Organizational Success through Innovation

The course will introduce the basic concepts of innovation (radical, incremental, disruptive; product, process, service, business model innovations) and the need and relevance of innovation focus in organizations. Students will understand through case studies and examples what innovation focus is, how it is achieved and maintained and how it demonstrably makes a difference to organizational growth and survival. Students will learn and appreciate the steps that are needed to be followed in taking an opportunity/idea to market. The course will give a clear understanding of the value of intellectual property, how it is created / acquired , protected and leveraged. Topics on institutional mechanism available for innovation, importance of networks, understanding and importance of cluster approach in knowledge acquiring through selective co-operation and innovation in the global context will be introduced.

Student Learning Outcomes

On successful completion of the course, students will be able to :

  • Develop a clear understanding of the basic concepts of innovation, its relation and relevance to organizational growth
  • Create an environment in the organization that fosters innovation
  • Practice continuous innovation as opposed to a one time effort
  • Utilize a systematic approach to take ideas to market following all the steps including basic innovation, market research, proof of concept to Prototype design, development, testing, final design, developing a business plan, resource mobilization and launching the product
  • Recognize Intellectual Property (IP) and take necessary steps to protect it and leverage it
  • Leverage available Institutional support for Innovation in various areas including innovation , funding , mentoring, networking, policy support and technology development

Activities

  • Students will prepare a report on the innovations that have been made in a specific industry, which illustrates how these innovations have enhanced the industry. Cite examples of corporations and show how they have capitalized on these innovations and grown.

Contributors

  • Governing members of innovation and entrepreneurship cells
  • CEOs and MDs

Disruptive Innovation & Technology

The purpose of this course is to help students understand what disruptive innovations are and expose them to some examples and the areas of business and technology that these innovations have impacted. It also covers what organizations need to do to survive when confronted with disruptive technologies that threaten their current way of business. A general model of survival will be introduced and used to analyze companies and industries that have failed or are close to failing. The course includes case studies of some large companies that have not survived disruptive innovations in their fields. In addition to firms that have failed, students will look at some that have survived and are doing well. By highlighting the reasons for the decline of firms and industries, students can begin to understand how to prevent such declines. Through the study of successful organizations, students will learn about approaches to disruptions that actually work.

Student Learning Outcomes

On successful completion of the course, students will be able to :

  • Explain how technology and changed business models create disruptive innovations
  • Provide insights into disruptive innovation through analysis of classic examples
  • Assess the impact of disruptive innovations on SMEs
  • Demonstrate the skills to develop a strategy for survival in a world confronting one disruptive technology after another

Activities

  • Assignment on identifying one disruptive innovation in the recent past and how it has changed the market, clearly identifying the winners and losers and why winners were winners and losers became losers. Specifically identify the impact it had on survivors and how they rode the wave

Contributors

  • CEOs of new successful companies
  • Management Consultants