Strategic Innovation
Aims & Objectives
Strategic innovation (or the strategy of "breaking the rules") is the discovery of radical new business models in existing industries that grow the market by attracting new consumers. They are usually discovered and introduced into an industry by new entrants or entrepreneurs. They are not only different but often conflict with the business models of the established competitors—as a result, they are especially difficult to respond to. Through this course, we will try to understand how a company can discover a new business model and how it can successfully migrate from its current position to the new. We will also explore why established companies find it so difficult to strategically innovate, and what they can do to improve the odds of success. We will explore the circumstances under which it makes sense for established companies to strategically innovate and we will study how companies could respond to the introduction of one in their industries.
Topics Covered
- How to enhance corporate creativity
- How to enhance an organization's innovation potential
- How to migrate from one strategy to another
- How to win employees' emotional commitment to a new strategy
- How to play two games at the same time
- How to respond to disruptive innovation
Format and Teaching Methods
Cases, videos, visits by CEOs, in-class exercises, Lectures
Pre-requisites
Successful completion of core strategy course.
Assignments & Assessment
Class Participation 30%
Final (in-class, open book) exam 70%
Details
Stream A: Autumn 2009 (Alternating Fridays, Autumn 2009)
Stream B: Spring 2010 (Block week course, Spring 2010)
