Strategic Innovation: Building and Sustaining Innovative Organizations

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Description

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About this course: Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs and capturing value back from consumers. At the core of a successful innovation strategy is a great product concept. Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. There are three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW). The value proposition has to be em…

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Didn't find what you were looking for? See also: Innovation, C/C++, Hour of Code, Change Management, and Strategic Management.

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs and capturing value back from consumers. At the core of a successful innovation strategy is a great product concept. Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. There are three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW). The value proposition has to be embedded in a coherent business model in order to create and capture value. But well-laid innovation plans can go awry without a consideration of the business ecosystem that includes competitors, collaborators, including suppliers, distributors, and retailers, or the contextual environment in which the company operates. In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success. Drawing from many years of research, this course will offer a set of frameworks, tools, and concepts in order to develop innovative strategies in a holistic way so as to achieve leadership positions.

Created by:  University of Illinois at Urbana-Champaign
  • Taught by:  Raj Echambadi, Alan J. and Joyce D. Baltz Professor | Sr. Associate Dean for Strategic Innovation

    Department of Business Administration, College of Business
Basic Info Course 1 of 7 in the Innovation: From Creativity to Entrepreneurship Specialization Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.9 stars Average User Rating 4.9See what learners said Complete this course to work toward: Innovation: From Creativity to Entrepreneurship Specialization This course is part of the 7-course Innovation: From Creativity to Entrepreneurship Specialization from University of Illinois at Urbana-Champaign Learn More Master of Business Administration (iMBA) This course is part of the fully-online 18 courses plus three capstone projects degree program Learn More Задания курса

Каждый курс — это интерактивный учебник, который содержит видеоматериалы, тесты и проекты.

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Сертификаты

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University of Illinois at Urbana-Champaign The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.

Syllabus


WEEK 1


Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.


1 video, 5 readings, 1 practice quiz expand


  1. Video: Welcome to Strategic Innovation: Building and Sustaining Innovative Organizations!
  2. Материал для самостоятельного изучения: Syllabus
  3. Материал для самостоятельного изучения: About the Discussion Forums
  4. Материал для самостоятельного изучения: Glossary
  5. Материал для самостоятельного изучения: Description of Organizations and Brands
  6. Материал для самостоятельного изучения: Social Media
  7. Вопрос для обсуждения: Getting to Know Your Classmates
  8. Тренировочный тест: Orientation Quiz


Module 1: Finding Your Innovation Sweet Spot: Crafting a Great Value Proposition



The first module will essentially lay the foundation for the strategic innovation course. You will gain an understanding of the concept of strategic innovation and the building blocks of innovation. You will also learn about prospect theory and how it relates to developing successful winning innovations. Finally, you will learn about developing customer value propositions that form the basis of delivering unique value to consumers.


7 videos, 2 readings, 4 practice quizzes expand


  1. Материал для самостоятельного изучения: Module 1 Overview
  2. Материал для самостоятельного изучения: Module 1 Readings
  3. Video: A Concise Framework to Analyze Innovation Problems - Part 1
  4. Video: A Concise Framework to Analyze Innovation Problems - Part 2
  5. Тренировочный тест: Lesson 1-1 Practice Quiz
  6. Video: Prospect Theory: Minimizing Losses and Maximizing Gains
  7. Тренировочный тест: Lesson 1-2 Practice Quiz
  8. Video: Marketing Myopia: Focus on "Needs" for Long-Term Advantage
  9. Тренировочный тест: Lesson 1-3 Practice Quiz
  10. Video: Developing a Value Proposition - Part 1
  11. Video: Developing a Value Proposition - Part 2
  12. Тренировочный тест: Lesson 1-4 Practice Quiz
  13. Video: The Case of DeWalt Tools

Graded: Module 1 Quiz

WEEK 2


Module 2: There Is to a Product Than Just Function: Assessing Industry Trends



The second module will focus on a detailed view of innovation and how it relates to the various stakeholders, including consumers, firms, and the overall industry. importantly, you will learn to assess industry context as you make important innovation decisions. First, you will gain an understanding of concept of the innovation adoption lifecycle and how innovations diffuse in a population of consumers. Then, you will learn about the concepts of the tipping points in an innovation lifecycle, i.e., sales takeoff and firm takeoff for an innovation in a particular new-to-the-world industry. Next, we will study the “failure framework” to examine issues of “overshooting” consumer demand by firms by mapping product performance and consumer expectations trajectories in an innovation context. Finally, you will learn about the different types of innovations and understand the concept of dominant design.


7 videos, 2 readings, 4 practice quizzes expand


  1. Материал для самостоятельного изучения: Module 2 Overview
  2. Материал для самостоятельного изучения: Module 2 Readings
  3. Video: Innovation Adoption Lifecycle
  4. Тренировочный тест: Lesson 2-1 Practice Quiz
  5. Video: Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 1
  6. Video: Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 2
  7. Тренировочный тест: Lesson 2-2 Practice Quiz
  8. Video: Mapping Performance and Expectations in an Innovation Context - Part 1
  9. Video: Mapping Performance and Expectations in an Innovation Context - Part 2
  10. Тренировочный тест: Lesson 2-3 Practice Quiz
  11. Video: Types of Innovations
  12. Тренировочный тест: Lesson 2-4 Practice Quiz
  13. Video: The Evolution of the PC Industry

Graded: Module 2 Assignment
Graded: Module 2 Quiz

WEEK 3


Module 3: Developing Winning Products: Sometimes Less Is



The third module will touch upon the innovation adoption lifecycle, moving further into managing new product innovations. Beginning with the concept of crossing the chasm, you will learn about the trajectory of a product across the various stages in its life cycle. We will also discuss the process of customer journey mapping and its application in innovative product development. You will learn about developing innovative products from the nascent stages to the mature stages to achieve the perfect product-market fit. Next, we will study the product configuration map to understand its implications in building winning products.


5 videos, 2 readings, 4 practice quizzes expand


  1. Материал для самостоятельного изучения: Module 3 Overview
  2. Материал для самостоятельного изучения: Module 3 Readings
  3. Video: Crossing Over from Niche Markets to Mass-Market Dominance
  4. Тренировочный тест: Lesson 3-1 Practice Quiz
  5. Video: Customer Journey Maps: Identifying Moments of Truth
  6. Тренировочный тест: Lesson 3-2 Practice Quiz
  7. Video: General Philosophy About Building Great Products
  8. Тренировочный тест: Lesson 3-3 Practice Quiz
  9. Video: Product Configuration Maps: How to Develop Winning Products
  10. Тренировочный тест: Lesson 3-4 Practice Quiz
  11. Video: The Case of Wikipedia

Graded: Module 3 Quiz

WEEK 4


Module 4: Executing Innovative Business Models: The Whole Is Bigger Than the Sum of Its Parts



With the fourth module, we will examine the elements of a business model. A business model is highly critical to the success of a company. You will learn about the advantages of a well-articulated innovative business model and how it can be constructed depending on the company capabilities and customer sensibilities. We will look at individual components of a business model and understand the necessity for developing synergies between each of the components. We will then focus on understanding a popular framework called the business model canvas. Finally, we will discuss the specific steps in designing cutting-edge business models through detailed analysis of several examples.


7 videos, 2 readings, 3 practice quizzes expand


  1. Материал для самостоятельного изучения: Module 4 Overview
  2. Материал для самостоятельного изучения: Module 4 Readings
  3. Video: How Do Innovative Business Models Help Companies? - Part 1
  4. Video: How Do Innovative Business Models Help Companies? - Part 2
  5. Тренировочный тест: Lesson 4-1 Practice Quiz
  6. Video: Elements of a Business Model and Business Model Canvas - Part 1
  7. Video: Elements of a Business Model and Business Model Canvas - Part 2
  8. Тренировочный тест: Lesson 4-2 Practice Quiz
  9. Video: Designing Innovative Business Models - Part 1
  10. Video: Designing Innovative Business Models - Part 2
  11. Тренировочный тест: Lesson 4-3 Practice Quiz
  12. Video: The Case of the Newspaper Industry

Graded: Module 4 Assignment
Graded: Module 4 Quiz

Course Conclusion



1 item expand


  1. Вопрос для обсуждения: Final Reflections
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