Managing Innovation

3 – 4 hours per week

Course Information

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

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

Full Profile

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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