FTMBA 2023_II Innovation Management

Innovations are a prerequisite for survival and sustained growth in most industries.The course covers strategic, organizational and procedural aspects of managingproduct, process and business model innovation in different industrial andcompetitive environments. It is designed to help students understand why innovationis critical for achieving sustainable competitive advantage. It further illustrates whatinnovation strategies firms can pursue as part of their business strategy. Based onthe fundamental understanding of the strategic importance of innovation, the coursewill contrast the experience made by firms which successfully anticipated and drovechange proactively to gain competitive advantage with those firms that failed to reactto disruptive changes in the competitive environment and hence fell behind. Multiplereal life examples from firms across multiple industries will be used. Based on theseexamples and latest research, best management practices will be outlined thatshould be understood and implemented by managers who seek to profit fromdisruptive change in their competitive environment. In this context, the course puts aspecial emphasis on the role of leaders during the process of innovation andstrategic change. Multiple examples are used to illustrate what effective leadershiprequires for successful innovation and corporate renewal. In addition, this course willaddress relevant emerging and strategic innovation themes such as open innovation,frugal innovation, reverse innovation and innovation for and from emerging markets.