Faculty
Christoph Grimpe, Jens Frøslev Christensen, Keld Laursen

Course Coordinator
Christoph Grimpe

This course is open to all bachelor students. However it still requires that students have acquired basic knowledge in management and business economics in order to follow the more specific focus on the management of innovation in this course.

Content

The course is designed as a central lecture in the management of innovation. Thus it aims at introducing theories, models and tools to the students that are central to managing the identification, development and commercialization of innovations, plus the consequences of doing so in a competitive environment. Core topics with regards to innovation management that will be supplied are for instance, knowledge about the various definitions of an innovation and innovative activities, how to search for novel ideas, what tools to use inside and outside of the firm to evaluate promising ideas efficiently and accurately, various forms to develop innovations inside and outside of the firm. With regards to literature and theories that “touch” the topic of innovation management the course will introduce insights and tools from fields such as entrepreneurship (e.g. how and why individuals identify promising opportunities while others do not), economics (e.g. the roles and powers of different players within an industry and the effect of various market forms), marketing (e.g. how the transfer from early, small market segments to broad market segments can be managed), organization (e.g. how organizations change when introducing important new products and services), management (e.g. how new business models in the area of open and distributed innovation can look like).

Structure

The course follows the structure of a ten week, three hour per week, lecture style class. In the individual classes students will first receive a basic introduction to innovation and the management of innovation (first third of the course). Following, the students will be introduced to the fields of knowledge touching the core topic of innovation (entrepreneurship, economics, marketing, organization, etc.). This part, while introducing a variety of fields of knowledge will always focus on the specific aspect of innovation and the management of innovative processes. This part will take half of the whole course. In the remaining classes of the course, the students will be introduced to work on a specific case and to apply the theories and tools/models learned in a specific situation, preparing them for the final exam.

Teaching

Teaching includes lecture-style classes, in-class workshops with students presenting and actively participating in discussions. The specific of this course is furthermore that INO will integrate various teachers in this course, each bringing in their respective special expertise.

The course aims at developing the core strengths needed to manage innovation from its early stages to the introduction of products or services in the market and the strategic positioning of the firm within its industry based on its innovative portfolio:

· Knowledge/competences about theory/models/tools in the management of innovation (including core subjects linked to the management of innovation as: entrepreneurship, organization, marketing, etc.)

· Knowledge/competences in reading and analyzing scientific literature

· Knowledge/competences in presentation and discussion skills

· Competences in analytical skills

More specifically, as required for the exam:

· Knowledge/competences in applying the theory/models/tools of the course in a specific case

· Knowledge/competences in identifying, developing and evaluating ideas Knowledge/competences in doing a company analysis

· Knowledge/competences in doing an industry analysis

· Competences in case analysis and development

After having participated in this course students should be able to:

· Know basic concepts of innovation, innovation management.

· Know basic fields/subjects touching the area of innovation and innovation management (as, e.g. entrepreneurship, economics, marketing, organization, industry development).

· Apply these theories/concepts and their specific tools in a case.

· Identify sources for creative ideas for companies, both company-internally and company-externally. They are able to do so theoretically (on the basis of the literature provided in the course) and also practically (in a case).

· Evaluate the business ideas identified, using specific characteristics derived from the literature provided in the course (e.g. realizability, value, novelty, etc.).

· Analyze and evaluate the causes and effects of the introduction of an innovation. They should be able to see and manage the process in a larger framework of the company.

· Reflect on (literature about) innovation management, entrepreneurship, economics, marketing, and organization.

· Students are able to compare different streams of research/theory with regards to the topics mentioned, to understand and use the tools provided in the literature and to connect the literature to their specific case/project.

· Apply the overall knowledge developed in the course in a specific case and to work together with the course teachers on a specific project, identifying, evaluating and developing creative ideas.

Written (four hour) open textbook exam.

Melissa A. Schilling (2010). Strategic Management of Technological Innovation (3rd Eddition), Mac Graw Hill, New York.

Chesbrough, Henry (2007). Business model innovation: it's not just about technology anymore. Strategy & Leadership: 35 (6), 12-17.