Symbiosis International University Symbiosis School for Liberal Arts

Innovation Management and New Product Development

 Brief Overview 

Active management of innovation and the development of New Products / services play a pivotal role in the success or failure of organizations. A new product launch is one of the most thrilling as well as risky tasks a company can take on. With the global environment undergoing rapid transformations, innovation and new product development can be a crucial factor for the long-term success of the firm. From creation of “new-to-the-world” products to re-positioning existing products, the product launches cut across the functional boundaries of the firm.

 Course Objectives 

  • Understanding Innovation, Innovation as an idea from the customers point of view and innovation from an organizations point of view.
  • Introducing students to how modern companies use the principles of innovation management and new product development to deal with competitive challenges and opportunities in the global marketplace.
  • To explore the crucial process of managing new product development in organizations along with the new product opportunity identification and selection strategies, problem based ideation, concept evaluation systems and strategic planning for new products.
  • To gain an understanding of major concepts of innovation, the process that it takes and gain an appreciation for the innovation models.

 Teaching Methodology 

  • Study of theory, understanding of basic concepts of innovative ideas that have stuck, new product development and innovation management.
  • Discussion mode of teaching, critical debates, films to create a thorough comprehension and application of the concepts
  • Case studies analysis
  • Hands on practical group exercises for internalizing the learning of the subject. 

 Requirements 

NA

 Course Outline 

S.No.

Topic

Hours

                 I.         

Introduction to Innovation Management

The importance of innovation, The study of innovation, Recent and contemporary studies, The need to view innovation in an organisational context, Individuals in the innovation process, Problems of definition and vocabulary, Popular views of innovation, Innovation as a management process, Model of Innovation , A framework for the management of innovation, Open Innovation and the need to share and exchange knowledge

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               II.         

Managing Innovation within Firms

Organisations and innovation, The dilemma of innovation management, Managing uncertainty, Organisational characteristics that facilitate the innovation process, Industrial firms are different: a classification, Organisational structures and innovation, The role of the individual in the innovation process, Establishing an innovative environment and propagating this virtuous circle,

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             III.         

Fundamentals of Innovative Ideas that stick

 Simplicity of innovative ideas

Finding the essential core of good ideas? Stripping an idea down to its core, by prioritizing. Saying something short is

not the mission— sound bites are not the ideal. Proverbs are the ideal. Ideas must be both simple and profound.

4

            IV.         

Unexpectedness of Ideas

How do we get our audience to pay attention to our ideas, and how do we maintain their interest when we need time to get the ideas across?

4

              V.         

Concreteness of Ideas

How do we make innovative ideas clear? Explaining the ideas in terms of human  actions, in terms of sensory information so that they can have meaning.

4

            VI.         

Credibility of innovative ideas

How do people believe in ideas? Sticky ideas have to carry their own credentials. Organisations need ways to help people to test these ideas for themselves—a “try before you buy” philosophy for the world of ideas.

4

          VII.         

Emotions

How do you get customers  to care about new ideas?

Understanding how customers and people can begin to feel something for an innovation

4

        VIII.         

Stories

Stories prompt people to act via simulation—showing people how to act—and via inspiration—providing the energy and motivation to act. Role of stories in the acceptance of innovative ideas

4

            IX.         

Strategic Alliances and Networks

Defining strategic alliances, The fall of the go-it-alone strategy and the rise of the octopus strategy   , Complementary capabilities and embedded technologies, Interfirm knowledge-sharing routines, Motives for establishing an alliance, The process of forming a successful strategic alliance,

Risks and limitations with strategic alliances, The role of trust in strategic alliances, The concept of trust

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              X.         

Product and Brand Strategy

Capabilities, networks and platforms, Product platforms     , Product planning, Product strategy, Competitive strategy, Product portfolios, The competitive environment      , differentiation and positioning, Differentiation, Product positioning, Competing with other products, Managing brands, Brands and blind product tests, Brand strategy, Brand extensions, Market entry, Launch and continuing improvement, Withdrawing products, Managing mature products         

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            XI.         

New Product Development and Packaging

Wrapping and packaging products, The basic principles of packaging, Protection, Containment, Identification, Labelling, Characteristics of packaging, Dispensing, Storage, Stability, Handling, Opening/resealing, After use and secondary use, Disposal, Product rejuvenation, New product opportunities through packaging, Product and pack size variation, Packaging systems, Retailer acceptance, Revitalising mature packaged goods           

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