The Strategy and Management of Technological Innovation
Description: Strategy is distinctive approaches executives use to realize firm performance goals. In this course, we will prepare you for analyzing how technology and innovation affects how executives formulate and execute strategies. This course teaches how incorporating technology and innovation into the corporate strategy of the firm can achieve profitable and sustainable competitive advantage. It addresses the role of technology management in both emerging and established firms, and examines how all of the firm’s activities, assets, and relationships must complement one another in order to capture value from innovation. The course will progress in two parts. We will first cover how strategy is formulate through frameworks, models, and tools essential for those actively engaged in the innovation process within a firm and apply these to case studies illustrating their importance in technology industries. We will then cover the obstacles that prevent firms form executing the ideal strategy.
Learning Outcomes: In each framework we analyze during the class, we will have the following objectives: 1) Recognizing the performance metric targeted by each framework 2) Identifying the assumptions each framework makes about firm structure, the speed of market and technological change 3) Analyze the strengths and weakness of each framework 4) Apply tools suited for each framework to determine the appropriate strategy that the firm should undertake 5) Using organizational theory to recognize obstacles that prevent the firm from implement desired strategies and how to overcome such barriers to implementation