Managing Innovation

Managing InnovationDo you feel innovation activity in your organization is ad-hoc? Are you looking for a systematic approach through which innovation capacity can be enhanced in your organization? This course will show you how you can build an innovation pipeline, improve idea velocity and enhance business impact through an 8-steps approach. Moreover, we will also explore ways of sustaining participation in innovation activity.What you'll learnWhat is innovation?Why innovate?Jugaad vs systematic innovation: The eight steps

Week 1: Introduction

• Module Overview
• Understanding the Concept of Innovation and its Importance
• Types of Innovation
• Innovation in Organization

Week 2: Lay the Foundation and Create a Challenge Book

• Module Overview
• Step one: Lay the Foundation
• Create a Challenge Book
• Let’s Discuss Step One and Two
• The Innovation Activity
• Conclusion

Week 3: Build Participation and Experiment with Low-cost at High -speed

• Module Overview
• Choosing the Right "Role Model"
• Ways to Motivate Innovation Activity in Organization
• Role of Catalyst in Building Participation in Innovation Process
• How to Overcome Velocity Problem?
• Failure Fallacy
• Encouraging Experimentation
• Prototyping
• Conclusion

Week 4: Go Fast from Prototyping to Incubation and Iterate on The Business Model

• Module Overview
• Being a Champion
• Iterating on Business Model
• Design of a Pitch
• Business Model Metaphors
• Conclusion

Week 5: Build an Innovation Sandbox and Create a Margin of Safety

• Module Overview
• Ways to Enhance the Batting Average Problem
• Sand box, Platform and Open Source Approach
• Intellectual Property Protection
• Risk Management
• Big Bets Risks
• Where Do We Stand?
• Conclusion
• Case Study Discussion