Advanced Marketing

• Coursera: Strategic Innovation: Building and Sustaining Innovative Organizations & Strategic Innovation: Innovation at the Frontier: An Exploration of Cutting-Edge Topics
• Illinois Catalog BADM 590: Strategic Innovation I and II
• Offered in Spring in Term (Jan-May)

This course is part of the Entrepreneurship & Strategic Innovation Specialization.

Course Description

Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs and capturing value back from consumers. At the core of a successful innovation strategy is a great product concept. There are the three pillars to a successful product strategy: a clear understanding of (a) the target customers(WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and details with company capabilities, and (c) the tactical plans to reach end consumers (HOW).  The value proposition has to be embedded in a coherent business model in order to create and capture value. But well-laid innovation plans can go awry without a consideration of the business ecosystem. In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success. 

Drawing from many years of research, this course will offer a set of frameworks, tools, and concepts in order to develop innovative strategies in a holistic way so as to achieve leadership positions.

Instructor

Instructor’s BIO 

Topics of this course

• Module 1: Finding Your Innovation Sweet Spot: Crafting a Great Value Proposition
• Module 2: There Is More to a Product Than Just Function: Assessing Industry Trends
• Module 3: Developing Winning Products: Sometimes Less Is More
• Module 4: Executing Innovative Business Models: The Whole Is Bigger Than the Sum of Its Parts

Modules 5 – 8 not listed

Course Materials

The course will follow a seminar format that emphasizes peer learning.  There is NO required textbook for the course. We will attempt to gain an understanding of the material by using the following:

• Cases published by the Harvard Business School (HBS) to be bought using the following course pack link: http://cb.hbsp.harvard.edu/cbmp/access/62769858
• Five readings from the Harvard Business Review: These are available to download from the University of Illinois library. You’re responsible for downloading these articles. The five articles are:

1. 1. Christensen, Clayton, 1997. Patterns in the Evolution of Product Competition. European Management Journal, Vol 15, No. 2, pp. 117-127. (Will help in the preparation for the Eli Lilly case). 
   2. Porter, Michael E. 2008. The Five Forces that Shape Competitive Strategy. Harvard Business Review, Jan 2008, Vol. 86 Issue 1, pp. 78-93. (Will help in the preparation for the Evolution of the Circus Industry case). 
   3. Johnson, Mark, Christensen, Clayton, and Kagermann, Henning. 2008. Reinventing your Business Model. Dec 2008. Vol 86 Issue 12, pp. 50-59. (Will help in the preparation for the DropBox case). 
   4. Christensen, Clayton, and Overdorf, Michael. 2000. Meeting the Challenge of Disruptive Change. Mar/Apr 2000. Vol 78 Issue 2, pp. 66-76. (Will help in the preparation of both Netflix and HP cases)
   5. Rao, Jay, and Joseph Weintraub. 2013. How Innovative is your Company’s Culture? MIT Sloan Management Review, Spring 2013. (Will help in the preparation for the IDEO case). 

Live Session Schedule (Tentative)

March 29th, 2017 – May 23rd, 2017

Course Elements

IN COURSERA

• Lecture Videos.
• In-Video Questions.
• Practice Quizzes.
• Module Quizzes.
• Peer-Graded Writing Assignment.

IN COMPASS 2G

• Forum Discussion.
• Module Assignments.
• Live Sessions: with the instructors occur every week.
• Group Assignment.