About this Course
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100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 15 hours to complete

Suggested: 4 hours/week...

English

Subtitles: English

Skills you will gain

Business ModelInnovationBusiness ValueInnovation Management

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 15 hours to complete

Suggested: 4 hours/week...

English

Subtitles: English

Syllabus - What you will learn from this course

Week
1
1 hour to complete

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

...
2 videos (Total 13 min), 5 readings, 1 quiz
2 videos
Welcome from Professor Raj Echambadi!9m
5 readings
Syllabus10m
About the Discussion Forums10m
Glossary10m
Description of Organizations and Brands10m
Social Media10m
1 practice exercise
Orientation Quiz10m
3 hours to complete

Module 1: Finding Your Innovation Sweet Spot: Crafting a Great Value Proposition

The first module will essentially lay the foundation for the strategic innovation course. You will gain an understanding of the concept of strategic innovation and the building blocks of innovation. You will also learn about prospect theory and how it relates to developing successful winning innovations. Finally, you will learn about developing customer value propositions that form the basis of delivering unique value to consumers.

...
9 videos (Total 88 min), 2 readings, 5 quizzes
9 videos
A Concise Framework to Analyze Innovation Problems - Part 19m
A Concise Framework to Analyze Innovation Problems - Part 25m
Prospect Theory: Minimizing Losses and Maximizing Gains22m
Marketing Myopia: Focus on "Needs" for Long-Term Advantage13m
Developing a Value Proposition - Part 112m
Developing a Value Proposition - Part 210m
The Case of DeWalt Tools5m
Module 1 Summary4m
2 readings
Module 1 Overview10m
Module 1 Readings10m
5 practice exercises
Lesson 1-1 Practice Quiz4m
Lesson 1-2 Practice Quiz6m
Lesson 1-3 Practice Quiz4m
Lesson 1-4 Practice Quiz6m
Module 1 Quiz22m
Week
2
4 hours to complete

Module 2: There Is More to a Product Than Just Function: Assessing Industry Trends

The second module will focus on a detailed view of innovation and how it relates to the various stakeholders, including consumers, firms, and the overall industry. More importantly, you will learn to assess industry context as you make important innovation decisions. First, you will gain an understanding of concept of the innovation adoption lifecycle and how innovations diffuse in a population of consumers. Then, you will learn about the concepts of the tipping points in an innovation lifecycle, i.e., sales takeoff and firm takeoff for an innovation in a particular new-to-the-world industry. Next, we will study the “failure framework” to examine issues of “overshooting” consumer demand by firms by mapping product performance and consumer expectations trajectories in an innovation context. Finally, you will learn about the different types of innovations and understand the concept of dominant design.

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9 videos (Total 67 min), 2 readings, 6 quizzes
9 videos
Innovation Adoption Lifecycle5m
Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 19m
Will the "New-to-the-World" Innovation Fly? A Discussion of Sales Takeoff and Firm Takeoff Points - Part 210m
Mapping Performance and Expectations in an Innovation Context - Part 18m
Mapping Performance and Expectations in an Innovation Context - Part 27m
Types of Innovations8m
Module 2 Summary4m
The Evolution of the PC Industry7m
2 readings
Module 2 Overview10m
Module 2 Readings10m
5 practice exercises
Lesson 2-1 Practice Quiz4m
Lesson 2-2 Practice Quiz6m
Lesson 2-3 Practice Quiz6m
Lesson 2-4 Practice Quiz2m
Module 2 Quiz20m
Week
3
2 hours to complete

Module 3: Developing Winning Products: Sometimes Less Is More

The third module will touch upon the innovation adoption lifecycle, moving further into managing new product innovations. Beginning with the concept of crossing the chasm, you will learn about the trajectory of a product across the various stages in its life cycle. We will also discuss the process of customer journey mapping and its application in innovative product development. You will learn about developing innovative products from the nascent stages to the mature stages to achieve the perfect product-market fit. Next, we will study the product configuration map to understand its implications in building winning products.

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7 videos (Total 70 min), 2 readings, 5 quizzes
7 videos
Crossing Over from Niche Markets to Mass-Market Dominance9m
Customer Journey Maps: Identifying Moments of Truth15m
General Philosophy About Building Great Products7m
Product Configuration Maps: How to Develop Winning Products17m
Module 3 Summary4m
The Case of Wikipedia11m
2 readings
Module 3 Overview10m
Module 3 Readings10m
5 practice exercises
Lesson 3-1 Practice Quiz6m
Lesson 3-2 Practice Quiz4m
Lesson 3-3 Practice Quiz4m
Lesson 3-4 Practice Quiz6m
Module 3 Quiz20m
Week
4
4 hours to complete

Module 4: Executing Innovative Business Models: The Whole Is Bigger Than the Sum of Its Parts

With the fourth module, we will examine the elements of a business model. A business model is highly critical to the success of a company. You will learn about the advantages of a well-articulated innovative business model and how it can be constructed depending on the company capabilities and customer sensibilities. We will look at individual components of a business model and understand the necessity for developing synergies between each of the components. We will then focus on understanding a popular framework called the business model canvas. Finally, we will discuss the specific steps in designing cutting-edge business models through detailed analysis of several examples.

...
9 videos (Total 74 min), 2 readings, 5 quizzes
9 videos
How Do Innovative Business Models Help Companies? - Part 112m
How Do Innovative Business Models Help Companies? - Part 211m
Elements of a Business Model and Business Model Canvas - Part 15m
Elements of a Business Model and Business Model Canvas - Part 29m
Designing Innovative Business Models - Part 17m
Designing Innovative Business Models - Part 29m
Module 4 Summary4m
The Case of the Newspaper Industry10m
2 readings
Module 4 Overview10m
Module 4 Readings10m
4 practice exercises
Lesson 4-1 Practice Quiz6m
Lesson 4-2 Practice Quiz6m
Lesson 4-3 Practice Quiz6m
Module 4 Quiz24m
9 minutes to complete

Course Conclusion

...
1 video (Total 4 min)
4.8
42 ReviewsChevron Right

33%

started a new career after completing these courses

25%

got a tangible career benefit from this course

Top reviews from Strategic Innovation: Building and Sustaining Innovative Organizations

By GLFeb 21st 2019

The course is great! The product cycle, business model and the tool that this Innovation course offers makes total sense and are useful to help you track your way to success on innovation segment.

By GPMay 5th 2018

Exceptional course. Interesting and chock-full of new ideas that can easily be put to practical use in solving management, process, and organizational challenges -- any why there are challenges.

Instructors

Avatar

Raj Echambadi

Alan J. and Joyce D. Baltz Professor | Sr. Associate Dean for Strategic Innovation
Department of Business Administration, College of Business
Avatar

E. Geoffrey Love

Associate Professor
Department of Business Administration, Gies College of Business

Start working towards your Master's degree

This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

About University of Illinois at Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

About the Innovation: From Creativity to Entrepreneurship Specialization

In a world characterized by volatility, uncertainty, complexity, and ambiguity, leaders require innovation skills. Thinking flexibly and developing an entrepreneurial mindset are critical to thriving in uncertain business environments. This specialization addresses how to recognize and question assumptions and constraints so as to identify and capitalize on opportunities. Innovation is needed within existing organizations and to found new organizations. Learning to change the rules of the game by creating innovative value propositions and discovering new market positions for sustained competitive advantage are some of the actionable lessons in this specialization. This specialization will be of value to both aspiring and practicing entrepreneurs as well as employees in established firms who are interested in becoming innovative leaders in an interconnected world....
Innovation: From Creativity to Entrepreneurship

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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