Innovation Development and Management

Paper Code: 
MIV 227
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Objective: Paper has been designed such that it acquaints the students with basics of innovation, instruments of innovation and management of innovation so as to enable the learner to develop innovative business ideas.

Course Outcomes: On completion of this paper/course students will-

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

MIV 227

Innovation Development and Management

 

CO 89 : be able to innovate in business. In the first place

 

CO 90: be introduced to the basic terminology, typology of innovations and historical context for better

 

CO 91: Assess the impact of innovation

 

CO 92: Apply creative thinking process

 

CO 93: Will brainstorm and develop sustainable ideas

 

CO 94: implement design thinking process to develop a business idea

 

Approach in teaching:

Interactive Lectures using whiteboards, Discussion, Reading assignments, Demonstration, Team teaching, Quiz.

 

Learning activities for the students:

Self-learning assignments, Effective questions, Solving problems of unsolved questions, Problem based learning-cases, Group learning teamwork, Giving Tasks.

 

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

12.00
Unit I: 
Unit I

Basics of Innovation: Concept of Innovation. Invention and Creativity - Role and relationship with innovation, Product innovation and process innovation, Radical and incremental innovation, Technological innovation, commercial or organizational Innovation, Characteristics of innovation in different sectors , Innovation in Indian context, Innovation and Creativity, Jugad and innovation, Innovation in Current Environment- local, regional and national context.

 

12.00
Unit II: 
Unit II

Instruments for Innovation: Challenges of Innovation, Innovation as a systematic practice, Steps of Innovation Management, Learning Cycle, The roles of the innovator, Functional Sources of Innovation– Internal Value Chain, Spillovers from Competitors, Suppliers, Customers and Complimentary Innovators, T

he generation of ideas: brainstorming, Creativity, Divergent V/s Convergent Thinking, Design Thinking, Blue Ocean Strategy. Experimentation in Innovation Management, Technology Innovation Process, Idea Championship, Participation for Innovation, Co-creation for Innovation, Screening the innovative ideas, Proto typing to Incubation.

 

12.00
Unit III: 
Unit III

Economics and Management of Innovation: Schumpeter and creative destruction, The evolutionary theory of Nelson and Winter, The model of the dynamic capabilities of David Teece, Porter and competitive advantages, The value chain, Drucker and the systematic innovation, Innovations diffusion, Speed, Adoption. Innovation and Knowledge, Tacit and explicit knowledge, Knowledge as a public good.

 

12.00
Unit IV: 
Unit IV

Models of Innovation – Static Models:Incremental versus Radical Innovation, Abernathy –Clark Model, Henderson – Clark Model, Disruptive Technological Change Model, Innovation Value – Added Chain, Strategic Leadership View, Familiarity Matrix, Imitability & Complementary Assets – Teece Model. Dynamic Models: Utterback – Abernathy Model, Tushman – Rosenkopf technology Life Cycle Model, Foster’s S Curve

 

12.00
Unit V: 
Unit V

Management and Marketing of Innovation: Innovation Management Planning, Technology Forecasting, Innovation Sustainable Conditions, Management of Innovation, Concept of IPR. Creation of IPR, Types of IPR, Patents and Copyrights, Patents in India.

Business Models: What is a Business Model? The evolution of the business model, The Business Model Canvas, Business Models and value proposition, Business Model Failure: Reasons and Remedies,

Incubators: Business Vs Technology, Future markets and Innovation needs for India.

 

Essential Readings: 
  • Rastogi P.N. - ‘Managing Creativity for corporate Excellence’, Macmillan India Ltd.
  • Timple, A. Dale- ‘Creativity’, Jaico Publishing House.
  • Martal, Shlomo & Seshadri, Dve - ‘Innovation Management-:Strategies, Concepts & Tools for Growth & Profit’, Response Books, Sage Publication.
  • Prahalad, C.K., Krishnan M.S., ‘The New age of Innovation’, Tata McGraw Hill. Holt, D.H. Entrepreneurship new venture creation. Innovation Management, Allan Afuah, Oxford Indian Edition.
  • Innovation Management, Shlomo Maital and D V R Seshadri, Response Books, Sage Publications, New Delhi.
  • Innovation: the attacker's advantage, Foster, Richard N., London, Macmillan.
  • Adair on Creativity and Innovation, Edited by Neil Thomas, Viva Books
  • Innovating at the Edge – How organizations Evolve and Embed
  • Managing Creativity & innovation, Harvard Business Essentials, Harvard Business School Press

 

 

ACADEMIC YEAR: 
2021-2022
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