DSGN8701 Innovation Management GE

2015

4.5

1 x 120-minute lecture weekly
1 x 60-minute workshop weekly
1 x 240-minute project work weekly

1 of STEP3002, STEP3701, STEP8002, STEP8701 has been successfully completed

Innovation management is one of the most crucial issues facing contemporary business. Innovation is a key generator of wealth and international competitiveness. It also plays a fundamental role in achieving environmental sustainability and in improving quality of life. Despite uncertainties, risks associated with both technological and service innovation can be managed. This topic provides a deep understanding of tools, techniques and strategies to manage innovation. It provides examples of innovation management approaches incorporating real-world case studies of leading international and local organizations and industries. Students would understand how innovation is managed within organizations; factors affecting the adoption of new technological innovations; the role of market research in innovation management; the importance of strategic relationships and networks; value enhancement through service innovation; institutionalising innovation processes within operations management; open innovation and technology transfer; managing intellectual property; and the management of research and development.

This topic introduces students to an understanding of the innovation management process, both from a firm and industry perspective. It explores the main issues in innovation management and equips students with the relevant skills to manage innovation. It provides examples of innovation management approaches incorporating real-world case studies of leading international and local organizations and industries.

At the completion of this topic, students are expected to be able to:

1. Critique the level of innovation management in an industry/firm
2. Develop recommendations to improve the management of innovation within organizations
3. Define the benefits of relevant technologies with an understanding of why target consumers will adopt the technology
4. Validate the market for an innovation employing relevant market research approaches
5. Identify and develop networks and strategic relationships for commercializing the innovation
6. Extend value through service innovation
7. Analyze open innovation and technology transfer initiatives
8. Determine how intellectual property should be managed for the innovation
9. Evaluate the management of research and development
10. Develop a commercialization plan for a real-live innovation