Managing Radical and Disruptive Innovation
Ten years ago, traditional players such as Nokia, Ericsson, and Motorola dominated the mobile phone industry. Three years ago, the hottest phones were by Samsung and Apple. This year, Samsung is recovering from the Note 7 debacle and seems to have slipped as small competitors from Asia nip at its heels.
Three elements of modern technology are making new ideas appear at such an extraordinary pace: the sheer rate of technical progress, the abundance of tools that are placing advanced technologies within the reach of new entrants, and the extraordinary opportunities created by convergence. Not all innovation needs to progress at this rate; however, there are lessons to be learned from these events and every company should be prepared to leverage opportunities from within or to ward off threats from the outside. The objective of this class is to cover some of the salient features of innovation in the modern world and to lay out the philosophy, tools, procedures, and incentives that an organization can adopt to drive innovation.
•Understand how to identify and evaluate new innovative products and businesses.
•Review and understand different ways to create an innovation group and culture and run a targeted innovation session within a company.
•Formulate a corporate plan for invention and new product generation.
•Approach the critical challenges in technology, product, sales, marketing, and financing a new innovative venture.
•Understand the supporting legal and IP requirements and how to set up an intellectual property strategy for the company.
•Incubate, refine, and grow a portfolio of innovative new businesses/products.