INNO9015 From Innovation to Impact: Creating a Roadmap from Opportunity to Action GE

2020

4.5

Specific contact hours for each topic include

• 3 x Full day intensive workshop immersions and
• 1 x full day application workshop

Attendance is also required at a number of additional course level full day application workshops.

INNO3001A has been successfully completed

None

Core topic

Assignments, Project, Tests

Whether aspiring entrepreneurs launching new businesses or managers focused on transforming existing businesses, `From Innovation to Impact` provides students with the tools and hands-on engagement to go beyond “thinking big” to "making an impact". This topic examines two critical factors in moving innovations towards market and user adoption: 1) an agile, "go-to-market" strategy 2) a scalable, repeatable business model. Beginning with a self-selected, real opportunity, students work towards maximising market adoption and impact, developing an appropriate and innovative business model and commercialisation roadmap. Combining business model and go-to-market planning, students create an individual lean and agile `playbook` which captures agile strategy and planning, defines possible decision pathways and identifies potential response scenarios, in advance. This provides students with a sound foundation for evidence-based decision making and a compelling case for investment.

This topic aims challenges students to act as informed decision makers and agile business planners. It builds students' capacity to apply various research and analytic tools, including financial tools and models for business model innovation, to improve business decisions in rapidly changing environments. While this topic includes exploration of theory, it is project driven and laser-focused on practical steps to shepherd each student’s idea from concept to commercialisation. Students receive instruction on how to optimise and manage the systems, processes and people required to execute against business objectives and strategies. They will be expected to apply these skills directly to the creation of their unique business model and roadmap, working individually and in project teams.

On successful completion of this topic students should be able to:

• Understand and leverage theories and practices of business model innovation and go-to-market strategies with the potential to disrupt markets
• Recognise and evaluate the multiple impacts of alternative commercialisation pathways, including business structure, financing, and governance
• Critically assess how business models work in different types of organisations - i.e. established firms, governments, NGOs, and startups
• Draw on a range of creative and analytic tools for identifying, evaluating and selecting an appropriate business model and select and apply the most appropriate to proposed venture
• Develop defensible and evidenced resource- and financial projections
• Develop a go-to-market strategies and commercialisation roadmap
• Understand and apply fundamentals of business model innovation and go-to-market strategies with the potential to disrupt markets
• Present analysis, conclusions and next steps in report (playbook) and class presentations.