Comprehensive course analysis
Who should attend
The ideal participant is an executive who is responsible for leading innovation, regardless of these efforts being internal (improving business processes) or external (developing new products, services, and lines of business). Beyond those who have innovation in their job title, executives who are responsible for driving top-line growth, managing portfolios, or tasked with creating new business models will also benefit.
Potential job titles and roles include:
- Director, senior director, vice president in large corporations
- CEO, COO, CTO and CIO president, senior vice president, general manager in mid-size enterprises
- Founders or CEOs of rapidly growing, successful entrepreneurial ventures
The program’s content is relevant across industries. Executives in the following industries will find the program’s content particularly valuable:
- Financial services
- Pharmaceuticals and health care/health systems
- Manufacturing and consumer products
- Entertainment, tech and media
About the course
There is a resounding theme in today’s corporate landscape: Innovate or die. Successful companies do not wait for opportunity — they create it. And that takes more than just being innovative — it requires building a process that activates innovation within your organization.
Mastering Innovation Strategy, Process, and Tools gives you the frameworks, tools, methodologies and disciplines to develop and install a process for innovation. From the radical innovations that shake up entire industries to the many small innovations that perfect the execution of already successful organizations, this program will show you how to treat innovation as a process, one to be managed and turned into a driver of profits and growth. It pulls you beyond finding the next big idea, and teaches you how to empower and commercialize that idea for greater levels of success.
Highlights and Key Outcomes
Mastering Innovation Strategy, Process, and Tools enables you to achieve success by showing you how to:
- Deploy the technology, tools, and principles to effectively recognize, evaluate and validate new opportunities
- Create a corporate culture that fosters ongoing, company-wide creativity
- Build an architecture that allows innovation to thrive throughout your company
- Successfully invest for future growth while managing the risks of disruption
- Perfect your own creative problem-solving skills while developing these skills across your organization
- Determine when to enact radical innovation from within, and when to seek it externally
- Utilize design thinking and lean validation methods to hasten your response to opportunities
How much does innovation cost? Well, how much is it worth? Mastering Innovation imparts immediately applicable methods that help you fully understand a need, create a solution to meet that need, and develop a sustainable business model in which your solution is worth more than the cost of delivering it.
There is another thing successful companies do well, and that is experience failure. Indeed, failure is a huge part of innovation. It means you have ventured into the unknown, explored unpredictable outcomes, and taken risks to push boundaries, test theories and identify what it takes to win.
Through this program, you will perfect your innovation skills and learn how to:
- Identify successful opportunities triggered by changes in technology, regulation and shifting or new customer preferences
- Actively manage real-world solutions in a hands-on Innovation Tournament
- Execute targeted strategies that turn unmet customer needs into actionable innovative solutions
You will generate and valuate ideas on an individual level, while also addressing systematic approaches for creating processes to produce multiple ideas that can be identified, developed and commercialized.
Mastering Innovation includes two online sessions prior to your arrival on campus. These sessions will include an introduction to an innovation tournament, a hallmark of this program. This advanced preparation will build your innovative mindset and peer-to-peer learning community before the program begins.
In-class session topics include:
- Technological Disruption and Transformation
- Open Innovation: Engaging the External Innovation Ecosystem
- Organizing for Innovation, and the Effective Use of Individuals and Groups
- Ideation: Generating Ideas and Divergent Thinking
- Design Thinking and Its Application in Organizations
- Rapid Validation of Ideas and Lean Innovation
Christian Terwiesch is the Andrew M. Heller Professor at the Wharton School of the University of Pennsylvania. He is a Professor in Wharton’s Operations, Information and Decisions department, codirector of Penn’s Mack Institute for Innovation Management, and also holds a faculty appointment In Pe...
A holder of more than 20 patents for medical devices, tools, food products, sporting goods, and more, Karl’s expertise is in innovation, entrepreneurship and product development. He is the co-founder of the Weiss Tech House and the Integrated Design Program at the University of Pennsylvania. Karl...
Videos and materials
Read more about Digital Transformation
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.