Innovation and International Strategy from Coursera

The 21st century competitive landscape is characterized by rapid technological change and globalization. How do companies compete and succeed in such an environment? First, companies must engage in continuous innovation to sustain their competitive advantage. This course is designed to equip students with a deep understanding of why innovation is paramount in the 21st-century landscape and how it influences the way companies compete today. Through a comprehensive exploration of topics like technology adoption life cycle, the product life cycle, disruptive innovation and blue ocean strategy, students will gain the knowledge and skills needed to thrive in a rapidly evolving marketplace. Second, companies must take advantage of the extraordinary opportunities that globalization presents and develop strategies to expand abroad and compete there. In this course, students will develop a deep understanding of how to analyze and evaluate international markets, select the best markets to enter, choose the optimal mode of entry and develop a strategy to compete in international markets.

Upon successful completion of this course, you will be able to:

- Articulate the significance of innovation in the 21st-century competitive landscape, delineate the factors affecting technology adoption and apply their understanding of the product life cycle stages to make informed strategic decisions regarding strategy.

- Articulate the concept and theory of disruptive innovation and apply this understanding to evaluate and propose strategies for how incumbents can effectively respond to disruptive changes in their industry.

- Articulate the fundamentals of Blue Ocean Strategy, including its core concepts of Non-customers and Value Innovation, and explain how new market spaces could be created.

- Articulate the rationale behind companies expanding into international markets, demonstrate knowledge of how to analyze international markets, and how to select international markets.

- Articulate the various non-equity and equity entry modes for international markets and integrate this knowledge to comprehend and explain strategic approaches for effectively competing in international markets.

What's inside

Syllabus

Module 1: Innovation Strategy

Welcome to Innovation and International Strategy! In today's rapidly evolving business environment, staying ahead of the competition is more challenging than ever before. To navigate this dynamic landscape successfully, it is essential to have a comprehensive understanding of several key factors. By the end of Module 1, you will be equipped with valuable insights that can help you navigate the complex and competitive landscape of the 21st century.

Module 2: Disruptive Innovation

The concept of disruptive innovation has emerged as a pivotal force reshaping industries and challenging the status quo. In this module, we will delve into the core objectives of understanding and explaining disruptive innovation, comprehending the theory that underpins it, and exploring the various strategies that incumbents can employ in response to this disruptive force.

Module 3: Blue Ocean Strategy

The pursuit of sustainable competitive advantage has become more challenging than ever. In response to this dynamic environment, innovative strategic frameworks have emerged to guide organizations towards new horizons of growth and profitability. Among these groundbreaking concepts is the Blue Ocean Strategy, a transformative approach that encourages businesses to chart unexplored waters and create untapped market spaces. In this introduction, we will embark on a journey to explore the fundamental objectives of our module in three distinct parts.

Module 4: Expanding into International Markets

Businesses are constantly seeking opportunities beyond their domestic borders. The decision to expand into international markets is not taken lightly, as it involves a myriad of complexities and considerations. In this module, we will delve into the critical aspects of international market expansion, exploring why companies embark on this journey, the methods for analyzing potential international markets, and the strategic process of selecting target markets.

Module 5: Competing in International Markets

Expanding into international markets has become a strategic imperative for many companies seeking growth and sustainability. However, the path to internationalization is not one-size-fits-all; it requires a nuanced understanding of various entry modes and strategies to navigate the complexities of foreign markets successfully.

Summative Course Assessment

This module contains the summative course assessment that has been designed to evaluate your understanding of the course material and assess your ability to apply the knowledge you have acquired throughout the course. Be sure to review the course material thoroughly before taking the assessment.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores recent trends such as technological change and globalization

Covers innovation strategy and disruptive innovation, which are timely given the rapid changes in 21st century business

Surveys Blue Ocean Strategy, which is non-standard in many academic and industry circles

Provides a deep understanding of how to analyze and evaluate international markets and how to select the best markets to enter

Teaches how to develop a strategy to compete in international markets

Taught by M. Krishna Erramilli, who is recognized for their work in the field of innovation and international strategy

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Innovation and International Strategy with these activities:

Compile a List of International Market Resources

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Gather and organize valuable resources for further exploration of international markets.

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Identify and gather market research reports, government data, industry analyses, and other relevant materials.
Categorize and organize the resources based on topics and industries.
Share the compilation with classmates or fellow professionals to facilitate knowledge sharing.

Explore Online Resources on International Entry Modes

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Gain a comprehensive understanding of the various non-equity and equity entry modes for international markets.

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Explore resources such as government websites, trade associations, and online business publications.
Review case studies and success stories of companies that have successfully entered international markets.
Consult with industry experts or mentors to gain insights from their experiences.

Read 'Blue Ocean Strategy' by W. Chan Kim and Renée Mauborgne

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Gain a deep understanding of the principles of Blue Ocean Strategy and how to apply them to create innovative products and services that appeal to new markets.

View Blue Ocean Strategy + Beyond Disruption... on Amazon

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Read Chapters 1-3 to grasp the core concepts and principles of Blue Ocean Strategy.
Identify opportunities to create new market space and value innovation.
Analyze how Blue Ocean Strategy can be used to overcome competitive challenges.

Five other activities

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Read 'The Innovator's Dilemma' by Clayton M. Christensen

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Understand the concept of disruptive innovation and its implications for companies in today's competitive landscape.

View The Disruptive Innovation Set (2 Books) on Amazon

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Read Chapters 1-3 to grasp the core concepts of disruptive innovation.
Identify examples of disruptive innovations in your own industry or related fields.
Analyze the challenges and opportunities that disruptive innovation presents for incumbents.

Participate in Group Discussions on International Market Analysis

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Engage with peers to exchange insights, challenge assumptions, and develop a deeper understanding of international market dynamics.

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Prepare by reading assigned materials and conducting research on specific international markets.
Participate actively in group discussions, sharing your analysis and perspectives.
Listen to and consider the insights of your peers to broaden your understanding.

Create a Country Market Analysis Report

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Develop a comprehensive analysis of a specific international market, demonstrating your understanding of market size, competition, consumer behavior, and regulatory environment.

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Select a target country and conduct thorough research using industry reports, government data, and market intelligence.
Analyze market size and growth potential, identifying key industry trends and drivers.
Evaluate competitive landscape, including major players, market share, and competitive strategies.

Develop an Innovation Strategy Plan

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Gain practical experience in developing an innovation strategy that aligns with your company's goals and market opportunities.

Browse courses on Innovation Strategy

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Conduct a situational analysis to assess your company's current innovation capabilities.
Identify and prioritize innovation opportunities based on market trends and customer needs.
Develop a roadmap for implementing your innovation strategy, including timelines and resource allocation.

Launch a Pilot Project for a New Product or Service

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Put your understanding of innovation into practice by launching a pilot project for a new product or service that addresses a market opportunity.

Browse courses on Product Development

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Identify a market opportunity and develop a value proposition for your new product or service.
Create a prototype or minimum viable product (MVP) and gather feedback from potential customers.
Iterate and refine your product or service based on feedback and market data.

Career center

Learners who complete Innovation and International Strategy will develop knowledge and skills that may be useful to these careers:

Product Manager

Product Managers may choose to specialize in a specific industry or domain. They are responsible for overseeing the development, launch, and marketing of a particular product or product line. The course, Innovation and International Strategy, can help someone in this role to better understand the process of technology adoption, the product life cycle, disruptive innovation, and blue ocean strategy, all of which are important to successful product management.

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Venture Capitalist

Venture Capitalists provide funding to early-stage companies with high growth potential. They need to have a strong understanding of the innovation landscape and be able to identify promising investment opportunities. The course, Innovation and International Strategy, can help Venture Capitalists develop both of these skills. It also provides a good overview of the global venture capital market, which can be helpful for making investment decisions.

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Brand Manager

Brand Managers are responsible for developing and managing the brand identity of their company's products or services. They need to have a strong understanding of the target market, industry, and competition. The course, Innovation and International Strategy, can help Brand Managers with all of these things. It also provides a strong foundation in blue ocean strategy, which can help managers identify and capitalize on new market opportunities.

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Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns that promote their company's products or services. They need to have a strong understanding of the target market, industry, and competition. The course, Innovation and International Strategy, can help Marketing Managers with all of these things. It also provides a strong foundation in blue ocean strategy, which can help managers identify and capitalize on new market opportunities.

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Business Development Manager

Business Development Managers are responsible for driving growth and expansion of their company's products or services. To do this, they need to have a deep understanding of their target market, industry, and competition. The course, Innovation and International Strategy, can help Business Development Managers with all of these things. It also provides a strong foundation in blue ocean strategy, which can help managers identify and capitalize on new market opportunities.

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Investment Banker

Investment Bankers help companies raise capital and advise them on mergers and acquisitions. They need to have a strong understanding of the financial markets and be able to analyze complex financial data. The course, Innovation and International Strategy, can help Investment Bankers build a strong foundation in finance and accounting. It also provides a good overview of the global economy, which can be helpful for making investment decisions.

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Financial Analyst

Financial Analysts help companies make investment decisions and manage their finances. They need to have a strong understanding of the financial markets and be able to analyze complex financial data. The course, Innovation and International Strategy, can help Financial Analysts build a strong foundation in finance and accounting. It also provides a good overview of the global economy, which can be helpful for making investment decisions.

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Operations Manager

Operations Managers are responsible for overseeing the day-to-day operations of their company. They need to have a strong understanding of the business, industry, and competition. The course, Innovation and International Strategy, can help Operations Managers build a strong foundation in business strategy, which is essential for success in this field. It also provides a good overview of the global business landscape, which is increasingly important for businesses of all sizes.

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Management Consultant

Management Consultants help companies solve business problems and improve their performance. They often specialize in a particular area, such as strategy, operations, or finance. The course, Innovation and International Strategy, can help Management Consultants build a strong foundation in business strategy, which is essential for success in this field. It also provides a good overview of the global business landscape, which is increasingly important for businesses of all sizes.

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Data Analyst

Data Analysts are responsible for collecting, analyzing, and interpreting data to help their company make better decisions. They need to have a strong understanding of statistics and data analysis techniques. The course, Innovation and International Strategy, can help Data Analysts build a strong foundation in business strategy, which is essential for success in this field. It also provides a good overview of the global business landscape, which is increasingly important for businesses of all sizes.

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Sales Manager

Sales Managers are responsible for leading and motivating a team of salespeople to achieve sales goals. They need to have a strong understanding of the target market, industry, and competition. The course, Innovation and International Strategy, can help Sales Managers with all of these things. It also provides a good overview of the global business landscape, which can be helpful for identifying new sales opportunities.

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Human Resources Manager

Human Resources Managers are responsible for managing the human capital of their company. They need to have a strong understanding of the business, industry, and competition. The course, Innovation and International Strategy, can help Human Resources Managers build a strong foundation in business strategy, which is essential for success in this field. It also provides a good overview of the global business landscape, which is increasingly important for businesses of all sizes.

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Software Engineer

Software Engineers are responsible for designing, developing, and maintaining software applications. They need to have a strong understanding of computer science and software engineering principles. The course, Innovation and International Strategy, may be useful for someone in this role as it covers topics such as: technology adoption life cycle, product life cycle, disruptive innovation, and blue ocean strategy. These topics can help Software Engineers to better understand the business environment and make more informed decisions about the software they develop.

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Market Research Analyst

Market Research Analysts are responsible for helping their organizations make better decisions by collecting and analyzing consumer data. Those who work as Market Research Analysts study the needs and wants of different markets, so it's very important that they have a strong understanding of different industries, demographics, and economies. The course, Innovation and International Strategy, may be useful for someone in this position as it covers topics such as: technology adoption life cycle, product life cycle, disruptive innovation, and blue ocean strategy.

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Accountant

Accountants are responsible for managing the financial records of their company. They need to have a strong understanding of accounting principles and regulations. The course, Innovation and International Strategy, may be useful for someone in this role as it covers topics such as: technology adoption life cycle, product life cycle, disruptive innovation, and blue ocean strategy. While these topics are not directly related to accounting, they can help accountants to better understand the business environment and make more informed decisions.

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