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.

Module 2: Disruptive Innovation

This module focuses on how innovating entrants can disrupt industry leaders. We will learn the concepts of sustaining and disruptive innovation and consider frameworks for how entrants can leverage disruptive innovations to overcome incumbents’ competitive advantage. We will also consider how incumbents can and should respond to disruptive innovations.

Module 3: Open Innovation

This module examines innovation and firm boundaries. We will consider when firms should invest in developing innovations internally versus when they should pursue an “open” strategy by seeking new ideas and technologies outside the firm. In addition, we will learn about different mechanisms that enable firms to capture value from innovations, including the importance of patents and specialized assets and capabilities in providing a competitive advantage. Finally, we will consider when innovators should forward integrate to compete with other firms in product markets and when they should license their innovations to other firms in technology markets.

Module 4: Multi-Sided Platforms

In this module we examine multi-sided platform businesses. Platforms enable firms to both create and capture value by bringing together sellers and buyers and controlling the transactions between them. We will distinguish between value chain and platform businesses, and we will examine the critical role of various players in a platform. In addition, we will learn about network effects, which are central to enabling and sustaining multi-sided platforms.

Good to know

Know what's good

, what to watch for

, 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

Highly praised course in strategic innovation

Learners say that this course is largely positive, with many engaging assignments and interesting content. The course covers the key features of strategic innovation, including lectures, readings, exams, and quizzes. It is well-structured and well-paced, with a good balance of theory and practice. The instructors are knowledgeable and engaging, and they provide a variety of resources to help learners succeed. Overall, this course is a valuable resource for anyone who wants to learn more about strategic innovation.

Assignments are relevant.

"Very interactive and knowledgeable course "

"I Literally loved this course. Learnt a lot from it."

"Excellent material to those unfamiliar to business concepts "

"Excellent course for advancement of business knowledge."

The course is well-structured and well-paced.

"Well-designed"

"Well-prepared"

"Good balance of lectures and quizzes and tests"

"Clear and simple presentation of complex topics and issues"

The instructors are knowledgeable and engaging.

"Excellent Professors along with well-laid out content"

"Great Professors"

"Very insightful and I got some useful takeaways from this course"

"Excellent teaching method !!! "

Students highly recommend this course.

"Great course!"

"Excellent course!"

"Very good course"

"Fantastic course"

"I highly recommend this course to everyone!"

Some students found the material too dry or dragged on.

"informative but can get quite dry/draggy along the way"

"a loose relationship with the truth."

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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Show all seven activities

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

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

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

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

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

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

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

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

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

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

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

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

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

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