Rapid globalization and increased competition make incessant demands on businesses to continuously upgrade existing products, processes, and business models to sustain the existing and add new sources of revenue. Product, processes and business model innovations of a firm have a direct impact on its financial and non-financial performance. They are also seen as significant sources of sustainable competitive advantage. However, innovations by other firms could be a source of threat and opportunity to realize corporate aspirations. This programme prepares senior executives to anticipate, prepare, and respond to competition by managing and sustaining strategic innovation through a series of frameworks that directly influence corporate performance.
Although executives believe that innovation is central to a company’s strategy and performance, many perceive that the way to manage and govern innovation is ad hoc. By studying how successful companies deal with innovation at the product and business level, participants of this programme will explore new approaches to align market change and technological innovation with corporate strategy, restructure internal capabilities for structured change, assess disruptive technologies, and develop a unified view of working, learning, and innovating.
Leveraging relevant case analyses, supplemental reading, and cutting edge research, executives learn new strategies for product development, organizational learning, and value creation while the class exercises help translate theory and concepts discussed into practical tools to manage risk, innovate, and position their organization for success.
An indicative list of topics to be covered in the programme is as follows:
• What is innovation and why is it so commonly misunderstood
• The innovation process
• Resistance to innovation and how to overcome it Creating Value through Innovation
• Disruptive and sustaining innovation
• Value creation by understanding competition and organizational networking
• Delivering value through innovation
• Cross-functional integration and innovation
• Innovation and organizational learning Strategy and Innovation
• Riding the wave of disruptive innovations for your advantage
• Open source innovation as strategy
• From new trends in innovation to corporate strategy
• Leadership and innovation
• Diagnosing and redressing the innovation gap in your organization
Presidents, Vice-Presidents, and General Managers from large and medium-sized organizations who are involved in innovation, strategy, and overall organizational performance. Organizations would benefit more from the programme if they sponsor a team of top and senior executives.
Case discussion, panel discussion, role-play, and experience sharing.