The Strategic Innovation Management course was created for students interested in developing and executing corporate and business unit-level growth strategies. All students planning on joining strategy, business development, marketing, R&D and operations departments of companies will benefit from this class. This class is also very useful for students interested in general management consulting.
This course explores the role of innovation in corporate and business unit growth strategy. Innovation is studied from both external industry and internal company perspectives. The course starts with developing a good understanding of how innovation impacts industry dynamics, which is essential to ensure companies’ survival, sustainable performance and growth. Different economic models and types for innovation are discussed based on examples of consumer products, healthcare and chemicals industries. Then “state-of-the-art” internal innovation capabilities are discussed, which are required to outperform competition. These capabilities include innovation process, ideation, portfolio management, organizational governance and effectiveness, and are discussed based on the examples of Procter & Gamble, Pfizer, Nestle, Eli Lilly, 3M and Bayer. The course finishes with pulling all studied topics together to define a “right to win” innovation strategy that is sustainable and differentiated.
Alex Kandybin was a Columbia Business School faculty member from 2011 to 2016.