Idea Development: Create and Implement Innovative Ideas

To create and bring to market innovative ideas, entrepreneurs invest substantial resources in their creation without being certain their idea will be successful. How do entrepreneurs manage this process? What strategies do they use? What role does the innovativeness of their ideas play in the strategies they adopt? How do they maintain motivation when faced with setbacks?

In this course, we tackle these questions by focusing on:

• Types of innovations and their market impact;
• The importance of taking action, knowledge, learning and resources in the creation of innovative ideas;
• How entrepreneurs make strategic decisions under uncertainty;
• The Management of intellectual property; and
• Maintaining motivation in the face of setbacks

By drawing on the case of Google Glass, their own experiences and ideas, students are encouraged to synthesize knowledge from each Module to gain an in-depth understanding of the complexity of innovation process.

Module 1
Perspective on how ideas are developed
Discover how entrepreneurs come up with ideas and the processes they use to bring innovative ideas to market

Module 2
Types of innovation
Understand the various innovation typologies based on different dimensions of the innovation space

Module 3
Uncertainty and decision making
Gain an understanding of uncertainty and how it influences strategic decision making

Module 4
Discovery strategies
Learn about the practice of navigating uncertainty to discover new strategies to establish and grow innovation in a corporate setting

Module 5
Knowledge and resources
Appreciate the role resources and capabilities play in the identification of innovative ideas

Module 6
Innovation evaluation and selection
Discover strategies for assessing the feasibility of ideas

Module 7
Protecting intellectual property
Understand the importance of IP, IP protection options (IPRs), selecting the right option, managing IP generation

Module 8
Commercialization feasibility
Unpack the 12-step framework for assessing commercialization feasibility

Module 9
Motivation, commitment and resilience
Understand the importance of knowing when to abandon an idea, contingency planning and resilience

Module 10
Maintaining motivation
Discover strategies for maintaining motivation when learning from setbacks