ECONOMICS OF INNOVATION
Updated A.Y. 2019-2020
The course explains what innovation mean and how companies are managing the innovation process. The course provides an overview of the basic innovation management frameworks and then focus on the analysis of the business model innovation and on the role of IT systems in driving innovation.
The innovation management concepts are put in practice with the support of Nautilus, an innovation management comprehensive model.
The focus of this course is on developing pragmatic and action-oriented analytical skills supported by a mix of innovation management standard framework coupled with illustrative cases and managerial tools.
The objectives of the course are:
• to develop an understanding of the innovation management process;
• to understand and apply the analytical tools and lenses used by managers for moving innovation projects throughout the organization into the market;
• to understand how and why innovation decisions are taken;
• to follow an innovation journey through a specific innovation management framework (Nautilus);
• to assess the role of IT systems and evaluate the strategic impact of new technologies.
Schedule of Topics
Topic 1 Key issues in innovation management process
Topic 2 Develop an innovation strategy framework
Topic 3 Understand Business Model Innovation
Topic 4 Learn from the market and the partners
Topic 5 Build effective implementation mechanisms
Topic 6 Build innovative organization
Topic 7 The role of IT systems
Topic 8 ERP Systems and business processes redesign
Topic 9 The 5 W of Innovation
Topic 10 Nautilus Step 1 and 2: UNDERSTAND Business and DISCOVER Market Opportunities
Topic 11 Nautilus Step 3 and 4: ANALYSE Competition and GENERATE Innovation Strategy
Topic 12 Nautilus Steps 5 and 6: ANIMATE Creativity Process and DEVELOP Innovation Roadmap
Topic 13 Nautilus Steps 7 and 8: DESIGN and TEST the Solution
Topic 14 Nautilus Steps 9 and 10: IMPLEMENT and LAUNCH the Solution
Topic 15 Digital transformation and strategy
Topic 16 Digital transformation tool-kit
Topics 1-8 and 15-16 are taught by Prof. Corrado Cerruti and topics 9-14 are taught by Prof. Emilio Sassone Corsi and Prof. Stephen Trueman
Textbook and Materials
The reference textbook is: J. Tidd, J. Bessant and K. Pavitt, Managing Innovation. Integrating Technological, Market and Organizational Change, John Wiley & Sons Ltd, 2018.
Plus students are required to study the slides and selected readings (available on the course webpage)
Knowledge and Understanding
Know the basics concepts of innovation management and understand the different elements required in order to successfully implement innovation within organization. Know the role of IT system as driver of innovation and understand the digital transformation process.
Applying Knowledge and Understanding
Understand the basics concept of innovation management and follow all the main steps for managing an innovation process through an applied innovation management tool: Nautilus.
Understand how and why the innovation process is managed and apply judgement in the business cases analysis using the Nautilus framework.
Summarize and present an innovation plan
Analysing critically innovation projects and discuss the key steps in their implementation path
Academic classes based on textbook & articles, plus simulations and web materials. Case studies will be discussed for going closer to practice