Companies today are facing a rapidly changing environment marked with high levels of competition and uncertainty. In this new era, traditional innovation management methods guided by formal planning are less reliable as they fail to meet the agility and flexibility required to respond to changes. In such a business environment, entrepreneurs increasingly adopt new innovation management practices, based on experimentation and rapid prototyping, to create and capture value. Some of these new approaches to innovation management include the lean start-up methodology, jobs-to-be-done framework, design thinking, and agile development.
This course intends to consolidate practical considerations and scientific rigor in carrying out an innovation management project based on the principles of new approaches mentioned above (e.g., lean start-up methodology, etc). Students will learn about the underlying principals of new product development techniques and gain hands-on experience by working on a real start-up project: launching a new product/ service and attracting potential customers through a landing page. Theoretical and practical input on how to execute projects will be provided and be complemented by interactive class discussions.