Strategic Innovation and Competitive Advantage

We all may know that innovation is critical to firms if they are to achieve enhanced performance and sustain a competitive advantage. However, the management of innovation is inherently difficult and risky, and most new products and technologies are not a commercial success. This is particularly true in industries where customer demand and preferences change quickly and technological changes are highly unpredictable.

This course focuses on the management of innovation and firm growth from the perspective of top executives. It helps executives recognize why innovation is an essential and integral part of strategic management and how to apply key strategic frameworks and concepts in different settings. This course draws upon strategic management, organization theory, product innovation, and technology management for analytical tools to address important challenges facing top executives.

Using case discussions of various real-life situations, this course will address the following issues:

  1. How to manage market uncertainty, technological uncertainty, and competitive volatility through open innovation
  2. The enemies of innovation in both new ventures as well as successful, established firms
  3. Building strategic alliances for technology/product innovation
  4. Innovation through merger and acquisition
  5. Innovation in the global market: establishing overseas R&D institutes and innovation strategies across emerging and developed markets
  6. Building organizational innovation capabilities