Strategic Innovation: Building and Sustaining Innovative Organizations from Coursera

Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs.

This course introduces the fundamental strategy concepts and tools that enable firms to manage technological innovations for competitive advantage. It does so by first considering the sources of technological change and how to leverage technologies to create firm value. It then examines the various mechanisms for extracting value from technologies, both legal (e.g., patents, trade secrecy, etc.) and strategic (e.g., lead time, complementary assets, etc.). We will explore the fundamentals of technology strategy through readings and case studies in both established and entrepreneurial firms across a range of technology-based industries.

You will be able to:

- Learn fundamental strategy concepts and frameworks for technology-based firms

- Apply theories and frameworks toward the analysis and formulation of strategies for creating and capturing value through technological innovations

- Develop an ability to think strategically and make decisions under uncertainty and risk

- Develop skills in performing analytic research and preparing professional reports

- Develop skills in managing diverse teams and working under time and resource constraints

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

What's inside

Syllabus

Course Introduction and Module 1: Innovation Life Cycles

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Module 1 provides a lifecycle perspective of the link between innovation and strategy. We will examine where innovations come from, how they change over time, and how these changes influence firms’ incentives to invest in different types of technologies. We will also discuss customer adoption and how this shapes firms’ decisions of whether and when to enter new markets. We will also learn about prospect theory and how it relates to developing successful winning innovations.

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Explores the concept of disruptive innovation, which is standard in the strategy domain

Taught by respected professors Raj Echambadi, E. Geoffrey Love

Develops fundamental strategy concepts and tools for technology-based firms

Applies theories and frameworks toward the analysis and formulation of strategies

Examines how to leverage technologies to create firm value, highly relevant in both industry and academia

Requires extensive background knowledge and software with newer versions, which may pose challenges to some learners

Reviews summary

Strategy and innovation for organizations

According to learners, this course provides a strong strategic foundation for understanding and managing innovation within organizations. Students particularly praise the clarity of the lectures and the introduction of relevant frameworks and concepts, such as disruptive innovation, open innovation, and multi-sided platforms. The case studies are frequently highlighted as valuable for providing real-world context and illustrating the application of the learned theories. While some found certain readings a bit dry or wished for more hands-on practical tools beyond the cases, the overall consensus is that the course offers actionable insights relevant to professionals.

Theory focus, some want more tools.

"The theory is good, but I felt it could benefit from more practical examples or tools beyond the case studies."

"While rich in frameworks, it could use a bit more on implementation tools."

"The course is strong on strategy but less so on the 'how-to' tools."

Demanding yet manageable workload.

"The workload was manageable alongside a full-time job."

"Found the content challenging but rewarding."

"Assignments reinforced learning well and were fair."

Content applicable to professional roles.

"Highly recommend for anyone in a leadership role dealing with innovation."

"The strategic perspective is spot on."

"I learned how to use practical tools and strategies that I could apply immediately to my work."

Lectures are well-explained and engaging.

"Lectures were clear and engaging."

"The lectures were top-notch."

"The instructor explained complex topics effectively."

Apply concepts via insightful case studies.

"The case studies provided great real-world context."

"The cases helped me understand how the theories apply in practice."

"I found the case studies particularly valuable for illustrating the frameworks."

Learn key strategic concepts and frameworks.

"The frameworks for disruptive and open innovation were incredibly insightful and directly applicable to my work."

"Learned so much about how firms create and capture value from innovation."

"This course provided me with a strong foundation in using innovation strategy concepts."

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 Strategic Innovation: Building and Sustaining Innovative Organizations with these activities:

Review Innovation and Strategy Concepts

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Refresh your understanding of fundamental innovation and strategy concepts to enhance your comprehension of the course material.

Browse courses on Innovation Strategy

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Revisit core concepts from previous courses or materials related to innovation and strategy.
Review readings and case studies on technology-based firms and competitive advantage.

Analyze Case Studies on Disruptive Innovation

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Strengthen your analytical skills by examining case studies that demonstrate the impact of disruptive innovation on industry leaders.

Browse courses on Disruptive Innovation

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Identify and analyze case studies that illustrate disruptive innovation strategies.
Evaluate how entrants leverage disruptive innovations to overcome incumbents' advantages.
Assess the responses of incumbents to disruptive innovation.

Open Innovation Resources Compilation

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Expand your understanding of open innovation by compiling a collection of relevant articles, studies, and examples.

Browse courses on Open Innovation

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Gather and organize resources on open innovation strategies.
Include articles, case studies, and industry examples that highlight the benefits and challenges of open innovation.
Categorize and summarize the compiled information to enhance your comprehension.

Four other activities

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Attend Workshop on Multi-Sided Platforms

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Enhance your understanding of multi-sided platforms by attending a workshop that explores their key principles and real-world applications.

Browse courses on Multi-Sided Platforms

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Identify and register for a workshop on multi-sided platforms.
Attend the workshop and actively participate in discussions and exercises.
Reflect on the workshop content and its implications for technology-based firms.

Innovation Strategy Proposal

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Demonstrate your understanding of innovation strategy by developing a proposal that outlines a comprehensive plan for a technology-based firm.

Browse courses on Innovation Strategy

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Identify a specific technology-based industry and company.
Conduct market research and industry analysis.
Develop an innovation strategy that aligns with the company's goals and capabilities.
Describe the potential value creation and competitive advantages of the proposed strategy.

Peer Mentorship on Innovation Concepts

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Reinforce your understanding of innovation concepts by mentoring peers who are struggling with the material.

Browse courses on Disruptive Innovation

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Identify peers who would benefit from your support.
Set up regular study sessions or discussions.
Explain concepts clearly and provide examples.

Volunteer at a Startup Incubator

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Gain practical experience in the innovation ecosystem by volunteering at a startup incubator.

Browse courses on Innovation

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Identify and contact startup incubators in your area.
Inquire about volunteer opportunities and apply for a role.
Participate in events, programs, and workshops related to innovation and entrepreneurship.

Career center

Learners who complete Strategic Innovation: Building and Sustaining Innovative Organizations will develop knowledge and skills that may be useful to these careers:

Innovation Consultant

Innovation Consultants guide their clients through the process of developing and launching new products and services by applying knowledge in various domains, including strategy, marketing, finance, and technology. The course Strategic Innovation: Building and Sustaining Innovative Organizations is a perfect fit for those who wish to become Innovation Consultants since its focus on developing innovative strategies and leveraging technologies for competitive advantage directly applies to the day-to-day work of an Innovation Consultant.

See salaries and explore the career path for Innovation Consultant

Technology Manager

Technology Managers lead the planning, development, and implementation of technology strategies and solutions for their organizations. Strategic Innovation: Building and Sustaining Innovative Organizations can help a prospective Technology Manager by providing a deep dive into best practices for the management of technological innovations for competitive advantage. The course will also provide prospective Technology Managers insights into how to leverage technology to create firm value and capture that value through various mechanisms.

See salaries and explore the career path for Technology Manager

Corporate Strategist

Corporate Strategists lead the creation of strategies to achieve an organization's goals by providing strategic counsel and guiding the development of long-term plans. Taking Strategic Innovation: Building and Sustaining Innovative Organizations can help build a foundation for a career as a Corporate Strategist by providing insights into the innovation life cycle, disruptive innovation, open innovation, and multi-sided platforms, all of which are essential to the day-to-day work of a Corporate Strategist.

See salaries and explore the career path for Corporate Strategist

Product Manager

Product Managers leverage their knowledge of innovation to manage a product through its lifecycle from inception through its eventual retirement. Strategic Innovation: Building and Sustaining Innovative Organizations can help build a foundation for a career as a Product Manager by providing insights into how to generate groundbreaking ideas, commercialize them, assess their viability, and eventually execute a successful rollout. The course also provides a framework for managing the strategic decisions that make an organization successful over time.

See salaries and explore the career path for Product Manager

Technology Investment Banker

Technology Investment Bankers provide advice and facilitate capital raising for technology companies, guiding these companies through an initial public offering (IPO) and other financing transactions. Strategic Innovation: Building and Sustaining Innovative Organizations can be especially helpful for a prospective Technology Investment Banker by providing insights into technology strategy through readings and case studies in both established and entrepreneurial firms across a range of technology-based industries.

See salaries and explore the career path for Technology Investment Banker

Operations Research Analyst

Operations Research Analysts use advanced analytical techniques to solve complex problems and improve decision-making for organizations. Strategic Innovation: Building and Sustaining Innovative Organizations can help build a foundation for a career as an Operations Research Analyst by providing insights into technology strategy and how to develop an ability to think strategically and make decisions under uncertainty and risk.

See salaries and explore the career path for Operations Research Analyst

Technology Policy Analyst

Technology Policy Analysts conduct research and make recommendations on technology policy issues, often for government agencies. The course Strategic Innovation: Building and Sustaining Innovative Organizations would be a valuable asset to an aspiring Technology Policy Analyst through its examination of the sources of technological change and how to leverage technologies to create firm value. The course also examines the various mechanisms for extracting value from technologies, both legal and strategic.

See salaries and explore the career path for Technology Policy Analyst

Venture Capitalist

Venture Capitalists provide capital and guidance to early-stage technology companies with high growth potential. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a person seeking to enter the field of venture capital as it provides insights into the innovation lifecycle and how to apply theories and frameworks toward the analysis and formulation of strategies for creating and capturing value through technological innovations.

See salaries and explore the career path for Venture Capitalist

Data Scientist

Data Scientists use data to extract insights and build models to solve business problems. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to an aspiring Data Scientist as it provides an introduction to the fundamental strategy concepts and tools that enable firms to manage technological innovations for competitive advantage.

See salaries and explore the career path for Data Scientist

Marketing Manager

Marketing Managers develop and execute marketing campaigns to promote products and services. Strategic Innovation: Building and Sustaining Innovative Organizations can help build a foundation for a career as a Marketing Manager by providing insights into how to identify and target customer needs and develop strategies to meet those needs.

See salaries and explore the career path for Marketing Manager

Financial Analyst

Financial Analysts evaluate and make recommendations on investment opportunities. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a Financial Analyst as it provides insights into technology strategy and how to extract value from technologies, both legal and strategic.

See salaries and explore the career path for Financial Analyst

Business Development Manager

Business Development Managers identify and develop new business opportunities for their organizations. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a Business Development Manager as it provides an introduction to the fundamental strategy concepts and tools that enable firms to manage technological innovations for competitive advantage.

See salaries and explore the career path for Business Development Manager

Project Manager

Project Managers plan and execute projects to achieve specific goals. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a Project Manager as it provides insights into technology strategy and how to manage diverse teams and work under time and resource constraints.

See salaries and explore the career path for Project Manager

Sales Manager

Sales Managers lead and motivate sales teams to achieve revenue goals. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a Sales Manager as it provides an introduction to the fundamental strategy concepts and tools that enable firms to manage technological innovations for competitive advantage.

See salaries and explore the career path for Sales Manager

Software Engineer

Software Engineers design, develop, and maintain software systems. Strategic Innovation: Building and Sustaining Innovative Organizations may be helpful to a Software Engineer as it provides insights into the technology strategy and how to leverage technologies to create firm value.

See salaries and explore the career path for Software Engineer