The term “innovation” has gone from an exotic good-to-have to a survival mechanism. But what does it mean? Where and how does one apply it? Does everyone need to heed the call for innovation? The answer clearly is “yes.” Whether you operate taxis or rental cars, whether you run a law firm or a dentist’s office, and regardless of how high-tech or mundane your work is, the irresistible winds of change either already have or will at some point impact your business.
Three elements of modern technology are making new ideas appear at such an extraordinary pace: the sheer rate of technical progress, the abundance of tools that are placing advanced technologies within the reach of new entrants, and the extraordinary opportunities created by convergence. Furthermore, technologies such as IoT, machine learning, computer vision and robotics are impacting businesses in existential ways. Meanwhile, consumers have changed too, becoming much more open to new business models, whether it is the sharing economy or subscription retail. The objective of this class is to cover some of the salient features of innovation in the modern world and to lay out the philosophy, tools, procedures, and incentives that an organization can adopt to drive innovation.
Participants are encouraged to bring a laptop or tablet to this course.
Participants of this course will be able to:
- Understand how to identify and evaluate new innovative products and businesses.
- Review and understand different ways to create an innovation group and culture and run a targeted innovation session within a company.
- Formulate a corporate plan for invention and new product generation.
- Approach the critical challenges in technology, product, sales, marketing, and financing a new innovative venture.
- Understand the supporting legal and IP requirements and how to set up an intellectual property strategy for the company.
- Incubate, refine, and grow a portfolio of innovative new businesses/products.
Who should attend
The course is taught from a technology viewpoint and is targeted at technical leaders, executives in charge of product or company strategy, and product managers. Typical titles will include: CTO, Head of Strategy, CIO, Head of R&D, Product Manager, Director of Lab, and Group Leader.