Innovation: From Creativity to Entrepreneurship Specialization

Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs.

At the core of a successful innovation strategy is a great product concept. Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. There are three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW). The value proposition has to be embedded in a coherent business model in order to create and capture value. But well-laid innovation plans can go awry without a consideration of the business ecosystem that includes competitors and collaborators, including suppliers, distributors, and retailers, or the contextual environment in which the company operates. In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success. You will be able to: - Understand key ideas about innovation and product strategy - Strategize for value capture in a business model - Critically examine the roles of various players in a business ecosystem This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

You may have noticed that what is new often behaves differently than what has become accepted over time whether it is in a market, technology, or with people and firms. This course helps you develop a perspective on managing innovation. That is, you will build your capability to lead and design your organization in effectively implementing innovation initiatives and achieving their strategic intent.

To do this, you will learn a set of frameworks, tools, and concepts that can help you address several important challenges in managing innovation. The first challenge is in regards to how to successfully implement innovation efforts within established firms and alongside established businesses. You then investigate the particulars of managing innovation when disruptive technologies are involved. Other topics include leadership of new product development teams, planning and evaluation of innovation initiatives, and management of innovation across organizational boundaries, as happens with alliances or virtual firms. You will be able to: - Analyze innovations and their impact on organizations - Articulate a research-informed perspective on innovation - Utilize frameworks, tools, and concepts to address challenges that arise in innovation This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Thinking and doing the same things faster and better is not enough for innovation; we need creativity. Fortunately, creativity is a skill you can learn. This course will examine when, why, and how you can be creative so you can go through the creative process more efficiently and effectively. It teaches concrete steps to enable you to change your perspective to see new possibilities and solutions. It clarifies what to expect from the creative process and provides support for how you can sustain your progress. It also provides guidance on leading a supportive culture for creativity. The result is an ability to increase your own creativity and that of your teams and organizations so as to recognize and develop new opportunities.

You will be able to: - Identify and generate opportunities to be creative and launch the innovation process - Intentionally and confidently enter and proceed through the creative process - Foster and sustain the creativity of others This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Creativity requires us to collaborate with others, and this course helps you be a better creative collaborator. We need to be able to pitch our creative ideas so that others are excited rather than baffled or dismissive by them. We need to be able to evaluate the ideas of others so we identify rather than miss creative solutions. We need to be able to work with our teams such that creativity thrives rather than is suppressed. This course addresses each of these needs, identifying challenges and providing guidance for effective performance. The end result is guidance on how to foster effective creative collaboration.

You will be able to: -Design pitches for innovative ideas to build excitement and clarity -Evaluate the pitches of others to identify great new ideas -Lead groups to foster effective collaboration for innovation This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.