Organizations increasingly open their innovation processes to leverage knowledge from external sources such as research institutes, suppliers, and users (outside-in) and to exploit internal knowledge through external use such as licensing, selling, or spinning out innovations. Open innovation has been found to reduce costs, accelerate time to market, and create new revenue streams for both start-ups and established firms.

Nonetheless, managing open innovation is difficult. The new way of innovating also creates new challenges. For instance, when innovations are not only developed within, but co-created with other companies and communities, questions of intellectual property (IP) become salient. In addition, organizations need to develop new capabilities such as formulating open calls for crowdsourcing contests, sustaining participation in innovation communities, and managing knowledge outflows by selectively revealing knowledge to the public.

The course “E&I Zone: Challenges with Open Innovation” focuses on the opportunities and challenges that firms have to deal with when they open their innovation processes. After successfully completing the course, participants will be familiar with the issues that arise for entrepreneurs and managers of companies in the formulation of open innovation strategies.

Students will develop their skills working on a real case in a team, thus refining their abilities in group works, case analyses, presentations, and classroom discussions.

The course is structured as follows:

Day 1 & 2 and will be dedicated to the origins of open innovation and elaborating on strategies for managing outside-in and inside-out knowledge flows. Lectures will follow an interactive format employing case studies, selected articles, and practical examples. Students will receive a briefing from a partner firm and start their group work (guided by the lecturers) during the second day.

Between the seminar and the closing session students are expected to work on their case-study.

Day 3: Students will present their findings in the format of a presentation to class and receive feedback from their peers and faculty.

This course targets all students of the major "Entrepreneurship & Innovation", equally those who intend to become independent with their own innovative business idea, those who want to invest into such ideas, e.g., as a venture capitalist, or students who are interested to work in corporate innovation management or who decide on a career in innovation consulting.

The teaching language is English.

• critically reflect on ‘open innovation’ and its strategic implications,
• examine methods of intellectual property protection, evaluate their value, and derive strategic decisions,
• consider strategic aspects of protecting versus revealing knowledge,
• understand the role of inter-organizational relationships and networks for innovation,
• realize the ramifications of managing knowledge flows between firms,
• deploy open innovation strategies and present them professionally.

In addition, students will:

• get insights into a current topic in the academic community,
•  receive inspiration for own research projects,
  
•  enhance their professional collaboration and communication skills.

The course design employs various learning formats:

• lecture of key theoretical concepts
• case study work in teams
• individual reading of literature
• student presenttion

Students are required to read the literature upfront! The assignment will be made available three weeks before the block seminar (day 1 & 2).

The assessment is based on continuous class participation, case-study work as well as the assignment.

• 40% case-study (group mark)
• 20% case-study (individual mark)
• 10% individual assignment
• 30% class participation

Peer rating may change your final grade.
 

The following students may apply for this course:

• Students of the major (SBWL) "Entrepreneurship and Innovation"
• Exchange students

Please note that your application to this course is binding. If you register for our course, this is regarded as a clear commitment from your side. It is not possible to deregister ex post or switch courses subsequently. Such behavior is unfair towards your colleagues (who would not have gotten a place in their preferred courses as you blocked it).

Only if all parallel courses are fully filled, we will offer additional places in our course.

Interest and experience in technology and innovation management are advantageous, but not a prerequisite for participation.

Contact Markus Deimel
E-mail: Markus.Deimel@wu.ac.at

Contact Christian Garaus
E-mail: Christian.Garaus@wu.ac.at