Innovations in science and technology have led to fundamental transformations in traditional intra- and inter-organization business practices resulting in the creation of new forms of competition, new business models and accelerated globalization. As such, organizations must rapidly introduce new products and services, new production and service creation processes, changes in the basic structure of extended supply chains, and changes in the delivery channels for consumer goods and services.
The managing innovation and technology interdisciplinary concentration provides students with a deep understanding of the multifaceted drivers of firm performance under rapid advancements in science and technology as well as for a rapidly changing global marketplace.
The concentration provides students with insights on the complex decision-making inherent in highly uncertain environments. The innovation and technology management domain includes: innovation and R&D management; integrating product and process development; planning and design to facilitate business innovation and flexibility; adoption and implementation including commercialization and product launch; and assessment and performance improvement.
Students pursuing a concentration in managing innovation and technology should complete nine credit hours (three courses) from the following electives. In the spirit of the interdisciplinary nature of this concentration, students are encouraged to select no more than one course from any single functional area. A certificate is also offered in this interdisciplinary area.
Current and future managers and entrepreneurs learn to use financial perspective in value creation. Learn effective entrepreneurial practices from the perspectives of users and suppliers of capital and other stakeholders. Focus on financial management within entrepreneurial firms. Cover all phases of life cycle from idea generation to harvesting.
Information Technology Management
Searching for customers and suppliers. Serving customers electronically. Handling electronic transactions. Business model innovations in e-commerce. Less focused on the IT side, more on the business side.
Analyze and make decisions around emerging technologies. Apply techniques for scanning the horizon for emerging technologies. Predict which technologies will be successful and why. Describe environments in which technologies emerge.
Learn the skills to translate management problems into marketing research problems. Gain the ability to analyze problems systematically. Develop critical eyes for marketing research and understand its contributions and limitations. Gain a working “hands-on” experience with the full process of marketing research.
Law and Ethics
Information security vulnerabilities and risks; legal, cost, privacy, and technology constraints; derivation of strategies; technical and procedural means of achieving desired ends.
Understand the legal and business issues that a new technology company faces from creation until an IPO. Understand how best to capitalize on the technology developed by your company, including the transfer of technology and the use of technology as a capital asset in connection with venture capital funding and mergers and acquisitions. Learn about the issues that may arise in the course of the growth of your business and when and why such issues may arise.
Introduces tools and concepts linking development to strategy, and for managing the development process for speed, efficiency, and market impact.
Analysis of the challenges associated with managing a firm's resources (technology, work force, materials, information, processes, knowledge). Learn how to plan under conditions including rapid technological innovation, international competition, and changing markets. Specific topics include positioning strategies, innovation and diffusion, technology strategy, knowledge transfer, performance measurement, process management, and implementation of new technology.
Learn challenges and methods of leading through change. Course includes change simulations. Explores change management in mature organizations. Discusses what makes an effective change agent. Examples of change include rapid growth or business turnaround.
Understand the different types of innovations. Recognize and reduce barriers to innovation. Lead, cultivate, and manage innovation. Stimulate creativity in individuals and groups. Manage the innovation process and pipeline.
Strategy & Innovation
Develop a capacity to think strategically about a company's technology decisions related to how much to invest in R&D, how to protect and commercialize innovations, how to improve and sustain a firm's performance through the generation and adoption of technological innovations. Conduct strategic analyses about technology commercialization in a variety of industries and competitive situations, with particular focus on high-tech industries.
Conceptualize and identify opportunities for creating value through innovation. Develop an understanding of how to capture the value of innovation through a variety of techniques. Coherently integrate these principles with competitive and corporate strategies.