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Washington University in St Louis Olin Business School

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Strategic Innovation (NEW TWO DAY SEMINAR) (St. Louis)

April 1, 2014
8:30 AM - 4:30 PM

April 2, 2014
8:30 AM - 4:30 PM

Location:

St. Louis Knight Center



Seminar Details
Innovation is a core business process associated with survival and growth of the organization, and it should be managed as such. Strategic management of innovation goes beyond the “ideation process” and product/ service development within one company’s organizational boundaries. It translates strategy into an effective allocation of resources across a portfolio of development projects that deal with different time horizons and risk/return tradeoffs; it recognizes the need for effective execution through different organizational structures, development processes, planning approaches and measures in managing them; it attempts to provide solutions to the final customer for the job they need to be done by innovating the whole ecosystemto provide such solutions, even though it controls only a small aspect of it, and addressing issues of co-innovation risk and adoption chain risks; and never ignores competitive threats that might change the game and disrupt the current business models. Our seminar offers a comprehensive treatment of strategic innovation management approaches for sustained success, not only in ongoing businesses but also new markets of uncertain but potential explosive growth, based on well tested principles and practices exemplified by the most successful companies in fast paced and uncertain market environments. The seminar is heavily interactive involving participants in effective brainstorming processes (and other “design thinking” type experiences not only for products but also business models), challenging them in coming up with disruptive strategies in their industry environments, and engaging them in experiential simulations dealing with issues of resource allocation in project portfolios and managing tradeoffs in sustaining current markets while pursuing development opportunities in yet uncertain markets with unproven technologies.

Topics
  • "Ideation” and “ brainstorming processes”
  • Role of prototyping in innovation environments
  • Disciplined experimentation strategies, relevant choices and tradeoffs
  • Strategic resource allocation among innovation projects (aggregate project plans)
  • Organizing and planning innovation projects
  • Lean concepts to product development and innovation projects
  • Innovation leadership, incentives, and measures of success for innovation projects
  • Ambidextrous Innovation organizations
  • Business model innovation
  • Ecosystem Innovation
  • Innovation risk management: co-innovation risks, adoption chain risks, and disruption risks


Benefits
  • How to structure processes for effective generation and choice of innovation initiatives to pursue
  • How to execute disciplined experimentation in uncertain market environments
  • How to organize for innovation across a spectrum of development projects(enhancements, within existing product platforms, next generation products, and breakthroughs)
  • How to plan the dynamic allocation of resources in fast paced and uncertain innovation environments
  • How to measure, evaluate and reward innovation leaders
  • How to design and execute ecosystem innovation projects, and manage relevant co-innovation and adoption risks
  • How to grow your business through a balanced approach between incremental improvements of ongoing business concerns and higher risk investments in longer term breakthrough nature projects


Price
$1,500.00

Who Should Attend?
Senior and mid-level executives across functional groups with strategy, product development, operational improvement and market growth responsibilities; owners and decision makers in growing small to mid-size businesses; aspiring entrepreneurs interested in lean startup approaches.

Faculty
Samuel Chun, Executive Director, Olin Management Solutions & Senior Lecturer, Olin Business School, Washington University in St. Louis
Panos Kouvelis, Senior Associate Dean and Director of Executive Programs; Director of the Boeing Center for Technology, Information and Manufacturing; Emerson Distinguished Professor of Operations and Manufacturing Management, Olin Business School, Washington University in St. Louis


Contacts
Executive Programs, 314-935-9494


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