Innovation Strategy (15.910, Spring 2020 H3)
Innovation is often viewed as vital for business success. It also has the potential to drive economic growth and improve quality of life. But innovation is hard. It’s uncertain. And it’s not always well-understood. What exactly does it mean to innovate? Can (and should) the pursuit of new ideas be managed? Are there strategies that work better than others under certain conditions when it comes to developing and commercializing a new technology or technology-based service?
This class is about demystifying “innovation”. The purpose is to develop rigorous yet accessible frameworks for the strategic management of innovation, with an emphasis on established businesses in high-technology industries. The central premise is that strategic innovation management can serve as a source of competitive advantage (for a company, institution, or even a region), and that innovation has the potential to address—but is not guaranteed to solve—the world’s most pressing economic and social challenges.