“If the only tool you have is a hammer, you tend to see every problem as a nail.”  Abraham Maslow

The ability to innovate is crucial for business survival and growth in the current climate of rapid technological advancement and changing consumer preferences. Without innovation and entrepreneurship skills companies are failing when faced with market challenges. The ability to transfer knowledge into action is critical for future success. Business innovation is nothing without great ideas and, hence, knowledge management. But creativity is difficult to spark on a schedule. It requires a holistic understanding to manage the creative process and move it forward. This module focuses on ways to manage creativity and introduces a flexible and iterative innovation landscape approach. 

Students will develop the knowledge and skills to encourage innovation and knowledge management within and outside of an organization. The module introduces models and processes on how to understand, integrate and promote innovation in a variety of settings, including public, private and not-for profit organizations as well as research institutions. Drawing on the innovation value chain and open innovation, this module will provide you with a comprehensive understanding of the different aspects of corporate innovation, including:

• The role of creativity and knowledge management to enable innovation;
• How individual and organizational creativity can be raised;
• Idea and Knowledge Management principles to select and implement business ideas;
• The success factors on the level of an innovation project;
• How an evidence-based approach to innovation management can be utilized to improve the decision-making process;
• The importance of soft skills and leadership capabilities for managing innovation successfully;
• How to scale innovation as a capability within organizations and asses your innovation readiness; and
• Evaluate and apply learned concepts and theories to build innovation into the strategy, capabilities and culture of an organization.

Students will identify the factors underlying corporate strategy with particular focus on innovation and knowledge management, recognise the various global challenges faced by managers and leaders today, and give examples of organizations dealing with the various challenges of businesses globally. Students who complete this module will be empowered with the ability to foster innovative behaviors in themselves and others; making them well suited to leadership roles within innovation programs, and enhancing an organizations ability to rapidly respond to and survive market threats.

Contents:

The module is designed to develop an in-depth knowledge and understanding of the major leadership and innovation issues businesses are confronted with when developing and operating in global markets. It is devoted to the theoretical and applied aspects of corporate leadership. A special focus is put to innovation procedures, models and processes. It introduces key theories of international leadership, including the determinants and the impact of leadership models. Business environmental issues such as business ethics in the global leadership context are also discussed. The theoretical understanding is illustrated and examined by reference to the examples of countries, international institutions, industries and companies.

Knowledge Management (KM) is a discipline concerned with the analysis and technical support of practices used in an organization to identify, create, represent, distribute and enable the adoption and leveraging of good practices embedded in collaborative settings and, in particular, in organizational processes. Effective knowledge management is an increasingly important source of competitive advantage, and a key to the success of contemporary organizations, bolstering the collective expertise of its employees and partners. There are several perspectives on KM, but all share the same core components, namely: People, Processes and Technology. Some take a techno-centric focus, in order to enhance knowledge integration and creation; some take an organizational focus, in order to optimize organization design and workflows; some take an ecological focus, where the important aspects are related to people interaction, knowledge and environmental factors as a complex adaptive system similar to a natural ecosystem. An information system (IS) is an organized system for the collection, organization, storage and communication of information.

·       The Changing Nature of the Business Environment

o   Introduction to the innovation and Knowledge Management Theory

·       The Key Dimensions of Innovation 

o   Markets, competition and regulation, Business models in contrasting cultures, Technological change, International risk

·       Search and Synthesize: The Development stage of an Innovation Project

o   What are the key perspectives of problem-solving activities in the development stage of the innovation process?

o   How to use experimentation as a core activity of problem solving

o   How to utilize open innovation and knowledge management

·       Select: The Launch and Nurture Stage

o   What needs to be considered for the diffusion and adoption of an innovative product or service?

o   How do Diffusion and Adoption work in this stage of an innovation launch?

o   How to employ consumer reactions towards new products?

·       Launch and Project Review

o   How to finalize an innovation launch?

o   What are the key points of a project review?

Deployed methods:

·       Models and Methods of analytics (research- and analytic models):
Content discussion and delivery follows a case-based research philosophy. Cases will be used to support student learning.

·       Quantitative-empirical methods (comparative – statistic, mathematic methods, data analyses):
Academic journal articles as well as statistics will be included as a reflective tool to start academic inquiry.

·       Qualitative-interpretative methods (expert interview, surveys, standardized inquiry):
Current research findings will be continuously used in class to provide frameworks and content focus. In selected cases qualitative, inductive theory will be used to display the critical deficits in using (historical) data only.

Methods of Teaching and Learning:

During this module, theory will be complemented with real-world case studies, which will help you develop strategies that you can apply to improve business productivity, economic growth and global competitiveness. Additionally, you will have the opportunity to refine your knowledge and skills through a series of activities that allow you to apply theory and tools to your own ideas. In addition to the lectures, you will engage in a series of exercises to deepen your understanding of the topic at hand. Real-life case studies and examples from companies will help you to better prepare for real-life situations in your company.Selected industry cases, field trips and off-site visits may accompany your learning experience.

The context of innovation and knowledge management issues will be covered and discussed though lectures, note sets, and readings – and your knowledge will be assessed through participation and assignments.  Assigned readings will be the responsibility of the student and may not be part of the classroom lectures.  Students are expected to have read the class text assignments and be prepared to make quality comments during class discussions Students will be assigned to teams, with case assignment, for analysis and class presentation.  Students not responsible for case presentation on that specific day will be expected to have analyzed the case and be prepared to ask questions.

The assignment (2,500 words and an appendix supporting your statements) will cover the perspectives of innovation and knowledge management.  The topic will be assigned after the mid-term reflection. Students can also select an individual company case (i.e. FT/WSJ/Economist).