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Innovation

From Plan to Product

Tim Kastelle, Anna Jenkins, and Rachel Fitzgerald

Business models are regarded as a form of innovation and not merely just a vehicle for commercialization. In this course, students will learn about multiple business model innovation avenues and metrics for assessing on-going market fit and sustainability.

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Business models are regarded as a form of innovation and not merely just a vehicle for commercialization. In this course, students will learn about multiple business model innovation avenues and metrics for assessing on-going market fit and sustainability.

This course introduces an evidence-based approach to innovation management with the aim of providing students with the capability to understand the strategic value of information and the tools and techniques that can be used to analyze and use that information to improve decision-making. Tools include: customer discovery, prototyping, financial modeling, business plans and forecasts.

Students will learn how to apply the most effective tools in developing sustainable business models by exploiting viable, validated opportunities in rapidly changing environments where traditional strategic management approaches are less effective.

What you'll learn

  • How design techniques can help businesses to develop market relevant ideas,
  • How to use financial decision-making techniques to improve innovation outcomes,
  • Adapt and apply strategic and operational management frameworks and tools necessary for innovation leadership,
  • Overview of planning and problem solving methods,
  • Relationship between and use of business models and business plans.
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What's inside

Learning objectives

  • How design techniques can help businesses to develop market relevant ideas,
  • How to use financial decision-making techniques to improve innovation outcomes,
  • Adapt and apply strategic and operational management frameworks and tools necessary for innovation leadership,
  • Overview of planning and problem solving methods,
  • Relationship between and use of business models and business plans.

Syllabus

Week 1: Why do innovations fail? Analyze the factors that lead to the failure of innovation
Week 2: Business models and innovation Explain and apply the role of the business model in capturing value from innovation
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Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Taught by Tim Kastelle, Anna Jenkins, and Rachel Fitzgerald, who design and deliver online courses on business and technology
Develops innovation and management skills, which are highly valuable in industry and academia
Examines business model innovation, a newer take on generating value from business ventures
Provides an evidence-based approach to innovation management, which aligns with best practices in industry and academia
Explores the relationship between business models and business plans, which is key for sustainable business growth
Offers an overview of planning and problem-solving methods, which are essential skills in business and management

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Create your own learning path. Save this course to your list so you can find it easily later.
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Reviews summary

Innovation journey: from plan to product

According to students, "Innovation: From Plan to Product" is a highly relevant and well-structured course that offers actionable insights into developing sustainable business models. Learners praise the clear and engaging instruction, finding the content immediately applicable to their projects and careers. While many appreciate the course's practical tools like customer discovery and prototyping, some advanced learners note it can be somewhat superficial or too theoretical for those seeking deeper dives. The assignments are consistently highlighted for reinforcing learning effectively. Recent reviews suggest a largely positive experience, indicating its continued value.
Largely current, with some past concerns about dated material.
"Some of the older material seemed a bit dated. The case studies were okay, but I wish there were more hands-on exercises..."
"The material felt current for the most part, although some sections could use an update."
"Recent feedback suggests continued relevance, indicating the course adapts to current needs and market dynamics."
Assignments effectively reinforce learning and concepts.
"The assignments were challenging yet very relevant."
"The assignments really helped reinforce the learning."
"I found the pacing to be good, though some topics could have been elaborated further. The assignments really helped reinforce the learning."
Instructors explain complex concepts clearly and logically.
"The instructor's insights were invaluable..."
"The instructor explains complex concepts very clearly. It's an excellent foundation for anyone leading innovation initiatives."
"The concepts were well-explained, and the progression from identifying innovation failures to building business plans was logical."
"The instructor presented the material clearly and was quite engaging."
Equips learners with immediately applicable innovation tools.
"I can immediately apply these tools to my current projects. Highly recommend for anyone in product development or strategy."
"The content is highly relevant to today's market dynamics. I especially appreciated the focus on sustainable business models."
"I learned how to use practical tools and strategies that I could apply immediately to my work."
"The blend of theory and practical tools for innovation leadership was perfect. Highly practical and applicable."
Can feel superficial for advanced learners seeking deep dives.
"The financial modeling part was a bit basic for my advanced background, but I understand it caters to a broader audience."
"The course covers a lot of ground, but sometimes feels a bit superficial. I felt it didn't go deep enough into their practical application."
"I was hoping for more actionable strategies for my startup, but it was mostly high-level concepts."
"It's a broad overview, so don't expect deep dives into any single topic. Useful for a basic understanding."

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: From Plan to Product with these activities:
Read 'The Innovator's Dilemma' by Clayton M. Christensen
Gain insights into the challenges and opportunities of innovation by reading Clayton M. Christensen's seminal work.
View The Disruptive Innovation Set (2 Books) on Amazon
Show steps
  • Read the book thoroughly
  • Summarize key concepts and examples
  • Reflect on the implications for business model innovation
Participate in Design Thinking Exercises
Enhance your problem-solving and innovation skills through hands-on participation in design thinking exercises.
Browse courses on Design Thinking
Show steps
  • Identify a problem or challenge
  • Ideate and generate solutions
  • Prototype and test potential solutions
Explore SuccessMetrics Innovation Best Practices
Enhance your understanding of successful business model innovation techniques by delving into the SuccessMetrics Innovation Best Practices.
Browse courses on Best Practices
Show steps
  • Access the SuccessMetrics Innovation Best Practices guide
  • Review case studies and examples
  • Extract key best practices
Five other activities
Expand to see all activities and additional details
Show all eight activities
Design a Value Chain Map for Your Business
Strengthen your understanding of value chains by creating a visual map that outlines key activities and flows within your business.
Browse courses on Value Chains
Show steps
  • Identify key business activities
  • Map out the flow of materials, information, and resources
  • Analyze and optimize the value chain
Develop a Business Model Canvas for a New Venture
Gain hands-on experience in business model development by creating a Business Model Canvas for a hypothetical or real-world venture.
Browse courses on Business Model Canvas
Show steps
  • Identify the key components of the business model
  • Fill out each section of the Business Model Canvas
  • Validate and refine the business model
Apply Financial Modeling Techniques to Innovation Projects
Develop your financial analysis skills by applying modeling techniques to evaluate the financial feasibility of innovation projects.
Browse courses on Financial Modeling
Show steps
  • Gather financial data
  • Build financial models (e.g., discounted cash flow, dynamic cash flow)
  • Analyze and interpret financial results
Organize and Summarize Course Materials
Enhance your retention and understanding of course materials by organizing and summarizing notes, assignments, and other resources.
Show steps
  • Gather and organize materials
  • Create summaries and outlines
  • Review and revise materials regularly
Volunteer as a Peer Mentor for Innovation
Reinforce your learning and contribute to the community by mentoring other students in innovation-related concepts and skills.
Show steps
  • Contact the course instructor or relevant organizations
  • Prepare materials and activities
  • Meet with mentees regularly

Career center

Learners who complete Innovation: From Plan to Product will develop knowledge and skills that may be useful to these careers:
Innovation Consultant
Innovation consultants help businesses develop and implement innovative strategies and solutions. This course provides a comprehensive understanding of the innovation process, from idea generation to market validation and financial planning. You will learn how to use design thinking, business model innovation, and project management tools to drive innovation and create sustainable value for clients.
See salaries and explore the career path for Innovation Consultant
Product Manager
Product managers are responsible for managing the development and launch of new products and features. The course's emphasis on customer discovery, financial modeling, and business plan development can equip you with the knowledge and skills to effectively manage product lifecycles, prioritize features, and drive product success.
See salaries and explore the career path for Product Manager
Entrepreneur
Entrepreneurs start and manage their own businesses. The course's focus on business model innovation, financial planning, and problem-solving methods can provide you with the knowledge and tools to develop and launch innovative business ventures, manage risk, and achieve business success.
See salaries and explore the career path for Entrepreneur
Strategy Consultant
Strategy consultants develop and implement strategic plans for organizations. The course's emphasis on strategic planning, business model innovation, and financial analysis can provide you with the knowledge and skills to analyze industry trends, evaluate market opportunities, and develop growth strategies.
See salaries and explore the career path for Strategy Consultant
Research and Development Manager
Research and development managers lead and manage research and development activities to create new products, processes, or technologies. The course's emphasis on innovation management, design thinking, and financial modeling can provide you with the understanding of innovation processes, risk management, and resource allocation to drive successful R&D initiatives.
See salaries and explore the career path for Research and Development Manager
Business Analyst
Business analysts play a crucial role in identifying and analyzing business needs and translating them into technical requirements. The course's focus on business models, financial decision-making, and problem-solving methods can provide you with the analytical skills and understanding of business processes necessary to excel in this field. By learning how to evaluate and improve innovation outcomes, you can develop innovative solutions that drive business growth.
See salaries and explore the career path for Business Analyst
Venture Capitalist
Venture capitalists invest in early-stage businesses with high growth potential. The course's focus on business model innovation, financial analysis, and risk management can provide you with the knowledge and skills to evaluate investment opportunities, manage portfolio risk, and drive investment returns.
See salaries and explore the career path for Venture Capitalist
Project Manager
Project managers plan, execute, and control projects to achieve specific objectives. The course's coverage of project management tools, portfolio approaches, and risk management can provide you with the foundational knowledge and practical skills to successfully manage innovation projects and drive project outcomes.
See salaries and explore the career path for Project Manager
Business Development Manager
Business development managers identify and develop new business opportunities for organizations. The course's focus on business model innovation, value chain analysis, and strategic planning can provide you with the insights and tools to explore new markets, build partnerships, and drive revenue growth.
See salaries and explore the career path for Business Development Manager
Management Consultant
Management consultants provide advice and support to businesses on strategy, operations, and organizational change. The course's focus on strategic planning, business model innovation, and problem-solving methods can provide you with the analytical skills and understanding of business dynamics to help clients improve performance and achieve their goals.
See salaries and explore the career path for Management Consultant
Technology Manager
Technology managers plan and oversee the development and implementation of technology solutions for organizations. The course's emphasis on design thinking, business model innovation, and project management can provide you with the understanding of technology trends, innovation processes, and resource management to drive successful technology initiatives.
See salaries and explore the career path for Technology Manager
Sales Manager
Sales managers lead and manage sales teams to achieve revenue targets. The course's focus on customer discovery, value chain analysis, and business model innovation can provide you with the insights and tools to understand customer needs, develop sales strategies, and drive sales growth.
See salaries and explore the career path for Sales Manager
Marketing Manager
Marketing managers develop and execute marketing strategies to promote products and services. The course's emphasis on customer discovery, design thinking, and business model innovation can provide you with the understanding of customer needs, market trends, and creative problem-solving skills to develop effective marketing campaigns and drive brand growth.
See salaries and explore the career path for Marketing Manager
Operations Manager
Operations managers plan and oversee the day-to-day operations of an organization. The course's coverage of business process optimization, project management, and strategic planning can provide you with the knowledge and tools to improve operational efficiency, manage resources, and drive organizational success.
See salaries and explore the career path for Operations Manager
Financial Analyst
Financial analysts evaluate and provide insights on financial data and investments. The course's emphasis on financial decision-making, business model analysis, and forecasting can provide you with the analytical skills and understanding of financial markets to make informed investment decisions and contribute to financial planning and strategy.
See salaries and explore the career path for Financial Analyst

Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Innovation: From Plan to Product.
Cover image
The Big Pad of 50 Blank, Extra-Large Business Model...
Save
Provides a practical framework for developing and testing business models. It useful reference for students who want to learn more about the business model innovation process.
The Big Pad of 50 Blank, Extra-Large Business Model...
Paperback
Check
The Big Pad of 50 Blank, Extra-Large Business Model...
Kindle Edition
Check
Cover image
The Disruptive Innovation Set (2 Books)
Save
Explains why large companies often fail to innovate. It valuable read for students who want to understand the challenges of innovation in established organizations.
The Disruptive Innovation Set (2 Books)
Paperback
$$
The Disruptive Innovation Set (2 Books)
Kindle Edition
$$
Lean Startup: How Today's Entrepreneurs Use...
Save
Provides a step-by-step guide to building a successful startup. It useful resource for students who want to learn how to validate their ideas and bring them to market quickly.
The Lean Startup: How Today's Entrepreneurs Use...
Hardcover
$$
The Lean Startup: How Today's Entrepreneurs Use...
Kindle Edition
$$
Cover image
HBR's 10 Must Reads on Design Thinking (with...
Save
Provides an overview of the design thinking process. It helpful resource for students who want to learn how to use design thinking to solve problems and create innovative solutions.
HBR's 10 Must Reads on Design Thinking (with...
Paperback
$$
HBR's 10 Must Reads on Design Thinking (with...
Kindle Edition
$$
Cover image
Project Based Problem Solving and Decision Making
Save
Provides a comprehensive overview of project management for innovation. It useful reference for students who want to learn how to manage innovation projects effectively.
Project Based Problem Solving and Decision Making:...
Kindle Edition
$$$
Cover image
Strategy Is Destiny
Save
Provides an overview of strategic management for innovation. It valuable read for students who want to understand how to develop and implement innovation strategies.
Strategy Is Destiny
Paperback
Check
Strategy Is Destiny
Kindle Edition
Check
Cover image
Value Proposition Design
Save
Provides a step-by-step guide to developing value propositions for your products or services. It useful resource for students who want to learn how to create value for their customers.
Value Proposition Design
Paperback
Check
Value Proposition Design
Kindle Edition
Check
Cover image
The Ten Faces of Innovation
Save
Provides an inspiring look at the innovation process. It valuable read for students who want to learn how to create a culture of innovation in their organizations.
The Ten Faces of Innovation: IDEO's Strategies for...
Hardcover
$$
The Ten Faces of Innovation: Strategies for...
Paperback
$$
The Ten Faces of Innovation, Creative Confidence,...
Paperback
$$$
The Ten Faces of Innovation: IDEO's Strategies for...
Kindle Edition
$$
Cover image
Innovation and Entrepreneurship
Save
Provides a classic overview of innovation and entrepreneurship. It valuable read for students who want to understand the fundamentals of innovation.
Innovation and Entrepreneurship
Paperback
$$
The Executive in Action : Managing for Results,...
Hardcover
$$
The Peter Drucker Collection on Becoming An...
Kindle Edition
$$
By Peter Ferdinand Drucker - Innovation and...
Hardcover
$$$
Summary of Discipline of Innovation: Harvard...
Audible Audiobook
$
By Peter F. Drucker Innovation and Entrepreneurship...
Unknown Binding
$$$$
Cover image
The Lean Product Playbook
Save
Provides a practical guide to building and launching lean products. It useful resource for students who want to learn how to bring their ideas to market quickly and efficiently.
The Lean Product Playbook: How to Innovate with...
Hardcover
$$
The Lean Product Playbook: How to Innovate with...
Kindle Edition
$$
Cover image
Traction
Save
Provides a step-by-step guide to getting traction for your startup. It useful resource for students who want to learn how to attract customers and build a successful business.
Traction
Paperback
$$
(Français) Traction - Comment toute start-up peut développer...
Kindle Edition
$$
(Italiano) Traction. Le strategie vincenti per ottenere una...
Paperback
$$
Chicos 10X
Save
Provides a motivational guide to achieving success in business. It valuable read for students who want to learn how to set and achieve ambitious goals.
(Español) Grant Cardone 10X Chicos
Paperback
$$
Cover image
Strategic Management
Save
Provides a research-based look at the characteristics of successful innovators. It valuable read for students who want to understand what it takes to be an innovator.
Strategic Management: Concepts and Cases
Kindle Edition
$$$$
Strategic Management: Concepts and Cases, WileyPLUS...
Ring-bound
$$$
Strategic Management: Concepts and Cases
Hardcover
$$$$
Strategic Management: Concepts and Cases, WileyPLUS...
Loose Leaf
$$$$
Strategic Management, EPUB Reg Card: Concepts and...
Paperback
$$$
Cover image
What You Do Is Who You Are: How to Create Your...
Save
Provides a frank and honest look at the challenges of running a startup. It valuable read for students who want to understand the realities of entrepreneurship.
What You Do Is Who You Are: How to Create Your...
Hardcover
$$
What You Do Is Who You Are: How to Create Your...
Kindle Edition
$$

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Course image
Effort
8 to 10 hours per week for 10 weeks
Level
Introductory
Via
edX
Institution
The University of Queensland
Instructors
Tim Kastelle
Anna Jenkins
Rachel Fitzgerald
Language
English
Transcript
English
This course belongs to a collection called Corporate Innovation. It's comprised of five courses:
  1. Design Thinking and Creativity for Innovation
  2. Idea Development: Create and Implement Innovative Ideas
  3. Innovation: From Plan to Product (viewing)
  4. Creating and Sustaining an Innovation Culture
  5. Corporate Innovation Capstone Assessment
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Taught by Tim Kastelle, Anna Jenkins, and Rachel Fitzgerald, who design and deliver online courses on business and technology
Develops innovation and management skills, which are highly valuable in industry and academia
Examines business model innovation, a newer take on generating value from business ventures
Provides an evidence-based approach to innovation management, which aligns with best practices in industry and academia
Explores the relationship between business models and business plans, which is key for sustainable business growth
Offers an overview of planning and problem-solving methods, which are essential skills in business and management
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