Professor Tridib Mazumdar
M, W 5:30 - 6:50pm Office: 409 SOM
SOM 101 Office Hours: M,W: 4:00-5:00pm
E-mail: [email protected]
Ph: 443-3453; Fax: 443-5457
The course is designed to provide students with a basic understanding of how innovative activities of a firm are managed. Broadly defined, innovation is a new product, process, or idea that is available for adoption, use, or consumption. Innovation management deals with generating and screening new product/process ideas or concepts, transforming these ideas or concepts into products, processes, or services that are useful for one or more target markets, and developing strategies and tactics that ensure successful diffusion of the innovation. Since new products are essential for growth and increased profitability, companies must manage these activities. The course covers the following areas:
1. What is innovation management? Overview of the innovation process. Definitions and concepts of product and process innovation, radical versus incremental innovation; risks and rewards of new product activities.
2. Strategic Considerations. Defining the context of a new product development, innovation over the product life cycle, effects of industry standards on innovative activities of a firm.
3. Technology and Innovation. Role of technology in innovation, disruptive technologies, managing the technology life cycle.
4. Organizing for new product development. Managing product development cycle time. Alternative structures of NPD organization - benefits and pitfalls of each; forming cross-functional teams.
5. New Product Development Process. Sources of new product ideas, lead user analysis, customer need identification, converting customer needs statements to product specification, concept development, concept screening, and selection.
6. Launch, Marketing, Diffusion of Innovation. Consumer and organizational adoption processes, factors affecting adoption decisions; developing a launch plan (timing, marketing mix variables etc.). Innovation diffusion model.
Performance Evaluation: I will assign the following weights to compute the overall grade:
A. 5 Case discussion and analysis (@ 7%) 35%
B. Exam 1 (Individual) (2/24/03) 20%
C. Exam 2 (Individual) (4/28/03) 20%
D. Final Term Project (Group)
Presentation (Exam Week, date TBA) 10%
Written Report (Exam Week, date TBA) 10%
E. Preparation and contribution to discussion (Individual) 5%
A. Case Discussion and Analysis (35%). During the ten-week period, you will be required to read, analyze, and discuss the following five HBS cases::
Discussion Dates Written Report Due Cases
1/29/03- 2/3/03 Techsonic Industries, Inc.