Managing Innovation

3 – 4 hours per week

Course Information

Course Length     : 5 weeks
Estimated Effort  : 3 – 4 hrs per week

Course Overview

Innovation is often perceived as a positive result of an accident or chance and therefore looked upon as an unplanned phenomenon. But as organisations constantly struggle to maintain a consistent flow of innovation, it is important to explore the means through which innovation can be made an inherent part of an organisation by laying down systematic innovation processes. This IIMBx course, Managing Innovation, explores the ways in which organisations can have new innovations coming up on a regular basis without having to wait for luck or chance to make it happen.

The course explains how professionals can switch from an ad-hoc or jugaad way to a more systematic approach to building innovation capacity in their teams or organisations. It also demonstrates how one can build an innovation pipeline, improve idea velocity, and enhance business impact through a simple, 8-steps approach. The course allows learners to explore various ways of sustaining participation in innovation activities.

The participants of this course will get exposure to some of the best practices in the industry and they will also learn to apply the tools in their own context. For example, one will learn to create a challenge book that articulates the key challenges in their organisation. Similarly, they will find ways to design low-cost experiments.

Rishikesha T Krishnan

Professor IIM Bangalore
Director IIM Indore

Vinay Dabholkar

Adjunct Faculty, IIMB,
Catalyst in Innovation and Mindfulness
Indian Institute of Management Bangalore

Course Syllabus

Week 1: Introduction
  • Module Overview
  • Understanding the Concept of Innovation and its Importance
  • Types of Innovation
  • Innovation in Organization
Week 2: Step One and Two
  • Module Overview
  • Step One: Lay the Foundation
  •  Create a Challenge Book
  • Let’s Discuss Steps One and Two
  • The Innovation Activity
Week 3: Step Three and Four
  • Module Overview
  • Choosing the Right “Role Model”
  • Ways to Motivate Innovation Activity in Organization
  • Role of Catalyst in Building Participation in Innovation Process
  • How to Overcome Velocity Problem?
  • Failure Fallacy
  • Encouraging Experimentation
  • Prototyping
Week 4: Step Five and Six
  • Module Overview
  • Being a Champion
  • Iterating on Business Model
  • Design of a Pitch
  • Business Model Metaphors
Week 5: Step Seven and Eight
  • Module Overview
  • Ways to Enhance the Batting Average Problem
  • Sand box, Platform and Open Source Approach
  • Intellectual Property Protection
  • Risk Management
  • Big Bets Risks
  • Where Do We Stand?

After completing this course, learners should be able to:

  • Explain- what is innovation
  • Outline the importance of innovation in any given organisation
  • Develop a business model and create a business pitch
  • Recall the 8 steps to innovation discussed in the course
  • Implement the 8 steps suggested by the course for innovation in their own business contexts

Whether you work in a start-up or a large organisation, in a hi-tech firm or low-tech business, in product business or services business — regardless of your background — this course will allow you to explore Innovation Management in your own context. This is a beginner-level course and is open to all.

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