Successful innovation in new products, services and processes is becoming increasingly important in achieving competitive advantage. Companies that innovate grow faster, have higher productivity and are more profitable than non-innovative οnes. Innovation, however, is a risky business, as many new technologies fail to be converted into new products and services for consumption.
The course begins with definitions of basic concepts: what is innovation, what is research and development and why they are important for modern businesses. Then, it focuses on the notion of technology life cycle and how it relates to the life cycle of products and markets associated with this technology. Through practical examples and case studies, students are able to discover ways in which the positioning, tactics, and procedures used by firms can influence the development and diffusion of an innovation. In this context, the commercialization of new technologies and their fusion into successful innovations are also examined.
Students have the opportunity to explore additional ways in which businesses can appropriate and exploit the benefits of an innovation. By the end of the course, students will have a better understanding of key issues in technology management and innovation, as well as of the skills required for their successful implementation at a strategic and operational level.
More specifically, upon completion of the course, students will be able to:
- Understand the concepts of invention, innovation, technology, research, technological development, and industry life cycle;
- Analyze and interpret different strategies for innovation and the management processes related to each of them;
- Understand how to better integrate the dimension of technology in their pursuit of commercial success.
- Better identify the technological needs and requirements of an enterprise as an important factor for its development and evaluate the means of accessing technology solutions.
- Apply tools and techniques for selecting technology programs and investing in new technologies.
- Implement tools and techniques for the organization and completion of a technology transfer process,
- Understand the problems that arise in collaboration agreements among the various stakeholders involved in research and technological development activities.