Strategic Innovation: Building and Sustaining Innovative Organizations
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Strategic Innovation: Building and Sustaining Innovative Organizations
This course is part of Innovation: From Creativity to Entrepreneurship Specialization
Instructors: Raj Echambadi
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What you'll learn
Apply theories and frameworks toward the analysis and formulation of strategies for creating and capturing value through technological innovations.
Develop an ability to think strategically and make decisions under uncertainty and risk.
Develop skills in performing analytic research and preparing professional reports.
Develop skills in managing diverse teams and working under time and resource constraints.
Skills you'll gain
- Commercialization
- Product Lifecycle Management
- Decision Making
- Organizational Strategy
- Business Strategy
- Market Dynamics
- Strategic Decision-Making
- Innovation
- Creativity
- Business Modeling
- New Product Development
- Value Propositions
- Team Management
- People Management
- Intellectual Property
- Strategic Thinking
- Technology Strategies
- Competitive Analysis
Details to know
See how employees at top companies are mastering in-demand skills
Build your subject-matter expertise
- Learn new concepts from industry experts
- Gain a foundational understanding of a subject or tool
- Develop job-relevant skills with hands-on projects
- Earn a shareable career certificate
There are 4 modules in this course
Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs.
This course introduces the fundamental strategy concepts and tools that enable firms to manage technological innovations for competitive advantage. It does so by first considering the sources of technological change and how to leverage technologies to create firm value. It then examines the various mechanisms for extracting value from technologies, both legal (e.g., patents, trade secrecy, etc.) and strategic (e.g., lead time, complementary assets, etc.). We will explore the fundamentals of technology strategy through readings and case studies in both established and entrepreneurial firms across a range of technology-based industries. You will be able to: - Learn fundamental strategy concepts and frameworks for technology-based firms - Apply theories and frameworks toward the analysis and formulation of strategies for creating and capturing value through technological innovations - Develop an ability to think strategically and make decisions under uncertainty and risk - Develop skills in performing analytic research and preparing professional reports - Develop skills in managing diverse teams and working under time and resource constraints 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/.
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Module 1 provides a lifecycle perspective of the link between innovation and strategy. We will examine where innovations come from, how they change over time, and how these changes influence firms’ incentives to invest in different types of technologies. We will also discuss customer adoption and how this shapes firms’ decisions of whether and when to enter new markets. We will also learn about prospect theory and how it relates to developing successful winning innovations.
What's included
11 videos9 readings7 assignments1 discussion prompt1 plugin
11 videos•Total 82 minutes
- Introduction to the Course•4 minutes
- Welcome from Professor Geoff Love!•4 minutes
- Welcome from Professor Michael Roach!•2 minutes
- The Impact of the Gies Community•2 minutes
- Innovation Lifecycles Introduction•4 minutes
- Innovation Adoption Lifecycle•5 minutes
- Will the "New-to-the-World" Innovation Fly? - Part 1•11 minutes
- Will the "New-to-the-World" Innovation Fly? - Part 2•10 minutes
- Types of Innovations•8 minutes
- Crossing Over from Niche Markets to Mass-Market Dominance•9 minutes
- Prospect Theory: Minimizing Losses and Maximizing Gains•22 minutes
9 readings•Total 90 minutes
- Syllabus•10 minutes
- Coursera Coach•10 minutes
- Glossary•10 minutes
- Description of Organizations and Brands•10 minutes
- About the Discussion Forums•10 minutes
- Online Education at Gies College of Business•10 minutes
- Updating Your Profile•10 minutes
- Module 1 Overview•10 minutes
- Module 1 Readings•10 minutes
7 assignments•Total 105 minutes
- Innovation Life Cycles Quiz•30 minutes
- Orientation Quiz•30 minutes
- Innovation Adoption Lifecycle Practice Quiz•5 minutes
- A Discussion of Sales Takeoff and Firm Takeoff Points Practice Quiz•10 minutes
- Types of Innovations Practice Quiz•10 minutes
- Crossing Over From Niche Markets to Mass-Market Dominance Practice Quiz•10 minutes
- Prospect Theory Practice Quiz•10 minutes
1 discussion prompt•Total 10 minutes
- Getting to Know Your Classmates•10 minutes
1 plugin•Total 15 minutes
- Welcome! Please Tell Us About Yourself•15 minutes
This module focuses on how innovating entrants can disrupt industry leaders. We will learn the concepts of sustaining and disruptive innovation and consider frameworks for how entrants can leverage disruptive innovations to overcome incumbents’ competitive advantage. We will also consider how incumbents can and should respond to disruptive innovations.
What's included
7 videos2 readings6 assignments1 peer review
7 videos•Total 88 minutes
- Disruptive Innovation Introduction•2 minutes
- Demand-Side Disruption•21 minutes
- Examples of Disruption - Part 1•13 minutes
- Examples of Disruption - Part 2•15 minutes
- Demand-Side Disruption: Prescriptions for Incumbents for Assessing Disruptions•9 minutes
- Demand-Side Disruption: Creating a Disruptive Innovation•16 minutes
- Strategic Renewal at IBM•10 minutes
2 readings•Total 20 minutes
- Module 2 Overview•10 minutes
- Module 2 Readings•10 minutes
6 assignments•Total 80 minutes
- Disruptive Innovation Quiz•30 minutes
- Demand-Side Disruption Practice Quiz•10 minutes
- Examples of Disruption Practice Quiz•10 minutes
- Prescriptions for Incumbents Practice Quiz•10 minutes
- Creating a Disruptive Innovation Practice Quiz•10 minutes
- Strategic Renewal at IBM Practice Quiz•10 minutes
1 peer review•Total 60 minutes
- There Is More to a Product Than Just Function: Assessing Industry Trends: Assignment•60 minutes
This module examines innovation and firm boundaries. We will consider when firms should invest in developing innovations internally versus when they should pursue an “open” strategy by seeking new ideas and technologies outside the firm. In addition, we will learn about different mechanisms that enable firms to capture value from innovations, including the importance of patents and specialized assets and capabilities in providing a competitive advantage. Finally, we will consider when innovators should forward integrate to compete with other firms in product markets and when they should license their innovations to other firms in technology markets.
What's included
5 videos2 readings4 assignments
5 videos•Total 30 minutes
- Open Innovation Introduction•6 minutes
- Vertical Integration•7 minutes
- Intellectual Property•9 minutes
- Innovation Strategy-Buy, Make, or Sell•7 minutes
- Module 3 Conclusion•1 minute
2 readings•Total 20 minutes
- Module 3 Overview•10 minutes
- Module 3 Readings•10 minutes
4 assignments•Total 50 minutes
- Open Innovation Quiz •30 minutes
- Vertical Integration•10 minutes
- Intellectual Property Practice Quiz•5 minutes
- Innovation Strategy-Buy, Make, or Sell Practice Quiz•5 minutes
In this module we examine multi-sided platform businesses. Platforms enable firms to both create and capture value by bringing together sellers and buyers and controlling the transactions between them. We will distinguish between value chain and platform businesses, and we will examine the critical role of various players in a platform. In addition, we will learn about network effects, which are central to enabling and sustaining multi-sided platforms.
What's included
7 videos4 readings5 assignments1 peer review1 plugin
7 videos•Total 32 minutes
- Multi-Sided Innovation Platforms Introduction•4 minutes
- Features of Multisided Platforms•6 minutes
- Standards and Network Effects•10 minutes
- Platform Strategies•5 minutes
- Platform Multihoming•4 minutes
- Module 4 Conclusion•2 minutes
- Learn on Your Terms•1 minute
4 readings•Total 40 minutes
- Module 4 Overview•10 minutes
- Module 4 Readings•10 minutes
- Congratulations on Completing the Course!•10 minutes
- Get Your Course Certificate•10 minutes
5 assignments•Total 50 minutes
- Multi-Sided Innovation Platforms: Quiz•30 minutes
- Features of Multisided Platforms Practice Quiz•5 minutes
- Standards and Network Effects Practice Quiz•5 minutes
- Platform Strategies Practice Quiz•5 minutes
- Platform Multihoming Practice Quiz•5 minutes
1 peer review•Total 60 minutes
- Executing Innovative Business Models: The Whole Is Bigger Than the Sum of Its Parts: Assignment•60 minutes
1 plugin•Total 15 minutes
- How Was the Course?•15 minutes
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This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
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Reviewed on Apr 14, 2020
A very good start for those who wants to learn the core managerial concepts and strategies. Very well explained real life examples and engaging lectures.
Reviewed on Jan 10, 2020
An excellent course. I am trying to complete it as soon as possible since I am busy with my work and MBA study. Then I have a plan to start with another course on my list. Thanks to all the team
Reviewed on May 4, 2020
What an interesting course. Any one who dreams of starting their own business will be amiss to not do this course. It's vital to success and fun to learn!
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