In times of fierce global competition, rapid technological progress, multiple disruptions (e.g., climate, poverty, migration, demographic developments, digitalization), exponentially growing knowledge, and increasingly demanding customers, innovation has become an imperative for most firms. Innovation addresses ill-defined problems and induces situations of high uncertainty and risks. It therefore requires fundamentally different processes and methods compared to routine tasks. How can innovation be managed and how can a firm routinize the non-routine? These are central questions that this program will tackle. Latest trends in innovation management such as open innovation, user innovation, and business ecosystems will be covered. At the same time we will look deeply into two big companies and apply problem-based learning by engaging into a real-life innovation initiative within these partner firms.
Kindly note that only a selected group of applicants will be admitted to the program. To apply please fill in the online application for WU students (https://www.wu.ac.at/en/programs/incoming-students/vienna-innovation-program-wu/application-wu-students/) and upload all necessary supporting documents (CV and letter of motivation). The application deadline for WU students is February 13, 2019. All WU applicants who complete the online application process on time will be informed about the outcome of their application via email by February 15, 2019, and will automatically be registered for the course in the WU system.
The aim of this program is to provide students with an insight of the most relevant topics when trying to manage innovation both inside the boundary of a firm as well as across firm boundaries.
Through participating in the course the students will:
- learn to understand the basic approaches of managing innovation,
- learn about latest trends in the field of innovation management,
- apply and validate the concepts and theories in a real-life group project,
- reflect and autonomously expand the knowledge gained in the course.
Moreover, improving intercultural and personal skill is an important learning objective. After completing the course, students will know how to:
- effectively handle cross-cultural team settings,
- value and utilize the innovation potential of different perspectives,
- break down complex tasks into manageable modules,
- set deadlines that help focusing on critical aspects of a business questions and answering it quickly,
- manage different ways to target & to arrive at a decision, and
- present project outcomes in different environments & for different target groups (e.g., expert jury, team members, etc.)
All students are expected to attend 100% of the course.
The course integrates various teaching methods such as theory lectures, case studies, exercises, discussions, and a real-life group project with a company. Substantial classroom discussion is encouraged and expected. All students are required to work on the group project during the course.
The final grade of the course will depend on:
• 20% pre-assignment
• 20% in-class assignments (individual reports, team reports)
• 20% in-class participation (active listening and discussion in class, interim presentations, implementing feedback)
• 40% final presentation