Explore

Strategic Innovation: Building and Sustaining Innovative Organizations

Approx. 20 hours to complete

Save Course

Go to Course

Course Summary

Learn how to build and sustain innovative organizations through strategic innovation with this course. Discover new approaches to problem-solving, idea generation, and implementation to drive growth and success.

Key Learning Points

Understand the importance and impact of strategic innovation in organizations
Learn to identify and analyze market opportunities for innovation
Develop the skills to create and implement effective innovation strategies

Learning Outcomes

Develop a deep understanding of strategic innovation and its importance in modern organizations
Learn how to identify and analyze market opportunities for innovation
Develop the skills needed to create and implement innovative strategies

Prerequisites or good to have knowledge before taking this course

Basic understanding of business management and strategy
Access to a computer and internet connection

Course Difficulty Level

Intermediate

Course Format

Online
Self-paced
Video lectures
Assignments
Quizzes

Similar Courses

Innovation and Creativity Management
Design Thinking for Innovation
Technology Innovation for Sustainable Development

Notable People in This Field

Clayton Christensen
Eric Ries

Related Books

Description

Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs.

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 and 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. You will be able to: - Understand key ideas about innovation and product strategy - Strategize for value capture in a business model - Critically examine the roles of various players in a business ecosystem This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Outline

Course Orientation
Welcome from Professor Geoff Love!
Welcome from Professor Raj Echambadi!
Learn on Your Terms
Syllabus
ePub
About the Discussion Forums
Glossary
Description of Organizations and Brands
Learn More About Flexible Learning Paths
Orientation Quiz

Module 1: Finding Your Innovation Sweet Spot: Crafting a Great Value Proposition
Introduction of Module 1
A Concise Framework to Analyze Innovation Problems - Part 1
A Concise Framework to Analyze Innovation Problems - Part 2
Prospect Theory: Minimizing Losses and Maximizing Gains
Marketing Myopia: Focus on "Needs" for Long-Term Advantage
Developing a Value Proposition - Part 1
Developing a Value Proposition - Part 2
The Case of DeWalt Tools
Module 1 Summary
Module 1 Overview
Module 1 Readings
Lesson 1-1 Practice Quiz
Lesson 1-2 Practice Quiz
Lesson 1-3 Practice Quiz
Lesson 1-4 Practice Quiz
Module 1 Quiz

Module 2: There Is More to a Product Than Just Function: Assessing Industry Trends
Introduction of Module 2
Innovation Adoption Lifecycle
Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 1
Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 2
Mapping Performance and Expectations in an Innovation Context - Part 1
Mapping Performance and Expectations in an Innovation Context - Part 2
Types of Innovations
Module 2 Summary
The Evolution of the PC Industry
Module 2 Overview
Module 2 Readings
Lesson 2-1 Practice Quiz
Lesson 2-2 Practice Quiz
Lesson 2-3 Practice Quiz
Lesson 2-4 Practice Quiz
Module 2 Quiz

Module 3: Developing Winning Products: Sometimes Less Is More
Introduction of Module 3
Crossing Over from Niche Markets to Mass-Market Dominance
Customer Journey Maps: Identifying Moments of Truth
General Philosophy About Building Great Products
Product Configuration Maps: How to Develop Winning Products
Module 3 Summary
The Case of Wikipedia
Module 3 Overview
Module 3 Readings
Lesson 3-1 Practice Quiz
Lesson 3-2 Practice Quiz
Lesson 3-3 Practice Quiz
Lesson 3-4 Practice Quiz
Module 3 Quiz

Module 4: Executing Innovative Business Models: The Whole Is Bigger Than the Sum of Its Parts
Introduction of Module 4
How Do Innovative Business Models Help Companies? - Part 1
How Do Innovative Business Models Help Companies? - Part 2
Elements of a Business Model and Business Model Canvas - Part 1
Elements of a Business Model and Business Model Canvas - Part 2
Designing Innovative Business Models - Part 1
Designing Innovative Business Models - Part 2
Module 4 Summary
The Case of the Newspaper Industry
Module 4 Overview
Module 4 Readings
Lesson 4-1 Practice Quiz
Lesson 4-2 Practice Quiz
Lesson 4-3 Practice Quiz
Module 4 Quiz

Course Conclusion
Course Summary with Professor Geoff Love
Gies Online Programs
Congratulations!
Get Your Course Certificate

Summary of User Reviews

Discover the secrets of strategic innovation and learn how to build and sustain innovative organizations with this online course on Coursera. Students have given this course high praise for its practical approach and real-world examples. One key aspect that many users thought was good is the emphasis on collaboration and teamwork, which is critical for successful innovation.

Pros from User Reviews

Practical approach with real-world examples
Excellent emphasis on collaboration and teamwork
Great insights into the process of innovation

Cons from User Reviews

Some users found the course content to be too basic
The course may be too focused on theory for some
Some users found the course to be too time-consuming
The course may not be suitable for those looking for a more technical approach

Recommended for you

Social Impact Strategy: Tools for Entrepreneurs and Innovators

This course offers an introduction to social impact strategy and social entrepreneurship, including key concepts, an overview of the field, and tools to get started as a changemaker....

Save Course

Innovation: From Creativity to Entrepreneurship Capstone

The capstone for the specialization will provide a learning experience that integrates across all the courses within it. Module 1: Capstone Course Overview and Innovation Review...

Save Course