SMO 603 - Managing Innovation Fall 2019 Section X01
Instructor: Mauricio Vizconde, MBA, B.Sc. (Eng.), CEA Contact: [email protected] or 780.448.8575 Office Hours: By appointment only
Classroom: BUS B-05
Class Dates: September 04 - December 04, 2019 Class Time: Wednesdays 6:30pm - 9:30pm A. OUTLINE
Course Content
This course introduces practical applications to managing the innovation process in established companies. The focus will be on building and exploring clear innovation strategies, as well as understanding successful innovative organizations. This course is intended to provide
participants with an overview of the structures, processes, strategies, and roles for successfully managing and participating in innovation activities.
This course is intended to help you develop skills to manage and implement strategic innovation management. You will develop these skills in this course by:
1. Reading a broad set of materials that will provide you with frameworks to illustrate innovation activities and relevant innovation challenges,
2. Participating in a case-based, highly interactive classroom setting design to provide you with real experience analyzing innovation challenges and opportunities,
3. Working with a small group to develop an innovation plan; thus giving you an opportunity to build and prototype a real innovation engagement project, and
4. Networking with guest speakers - innovation managers and entrepreneurs Course Objectives
The course is “practically-oriented” drawing on the experiences of real world managers and innovation project participants and informed by the academic literature.
The objectives for the course are:
To understand the language, models and approaches for managing innovation
To gain practical experience with the tools and methodologies for initiating, developing and sustaining innovation activities in established companies
To explore the process model of innovation - searching, selecting, implementing, and capturing phases
To assess the innovation strategies in both start-up and established firms, and make the necessary recommendations
To build your skills as a participant or manager of innovation activities through the completion of an innovation business plan
To link the knowledge gained in other MBA courses to the content of innovation management
DEPARTMENT OF STRATEGIC MANAGEMENT & ORGANIZATION
B. METHODOLOGY
This course relies on classroom discussion, participation, student presentations, guest
speakers, case forums, simulations, and building a business plan to develop a comprehensive strategy for launching and managing an innovation initiative. Students are expected to interact with each other, be able to work effectively in project teams, and be active participants in classroom discussions and workshops. Engagement, challenge and respectful debate will be key to learn and apply the material. There will be learning experiences, reading, assignments and preparation critical to your successful experience in the class.
C. COURSE PROJECT
There is a course project required. In the course of innovating, there are various stages an innovation project goes through from idea stage to commercialization. The deliverables for this project include: business idea submission, one interim ‘Think Tank’ presentation - An opportunity to gain feedback from your peers/instructor - and the final pitch presentation. These requirements are the same as what project initiators and project managers need to fulfill in real organizations; they are essential for ensuring continued funding for the project and eventual success. Students should pick an innovative idea or some innovation that you may know about or want to know about.
You can choose to set up a hypothetical company, or if there are students who are employed, they could use their own knowledge of their company as background. You don’t need to be technically sophisticated nor do you need all the information about the market, as this can be estimated through some preliminary internet research (size of potential market, market leaders, etc.). Further, detailed financials supporting the project are not required.
The course project will mimic a strategic innovation business plan with key elements such as a business model canvas, marketing plan, human resources, operations and implementation. A template will be provided during class. No written paper is required; all aspects of the innovation plan engagement will be showcased in a 25-minute final presentation (includes Q&A).
Students will work in groups to complete the project. The instructor must approve projects before the group begins work. Students are expected to treat the business plan projects as real consulting engagements.
At the end of the course, each group will be required to present their final presentation and pitch to the executive management team/investors/board of directors.
D. CASE FORUMS
There will be two case forum exercises in preparation for the final exam. On the day of the case forum the following timeline will apply:
6:30pm Individual case prep assignments submitted
6:31pm Consultant groups meet in conference rooms to discuss case and prepare presentations. The management team will also meet at this time to develop a shared understanding of the case and prepare to select the best consultant recommendation. Groups may, and are encouraged to meet prior to 6:30.
Conference room bookings begin at 5:30pm. Take a break at your discretion.
I will be available throughout the preparation time to guide your discussion.
7:50pm Consultant presentations to company management (7-10 minutes followed by 5-minute Q&A led by management team)
8:50pm 15-minute break (all non-management team members leave room quickly and quietly) – management team to choose most appropriate recommendation
9:05pm Management team presentation to board and/or company owner (5-minutes) In this presentation, the management team should brief the principal shareholders on the recommendations of the consultant teams, discuss the rationales, and determine which consultant team should be awarded the contract
Each group is responsible for booking a conference/study room for this activity (Rooms available at the Winspear library, as well as individual MBA rooms). Please book rooms well in advance for each case forum.
Case Study Methodology
William Ellet, in his Harvard Business Review article titled The Case Study Handbook, describes three distinct sets of skills students need to challenge a case study:
1. You need to be able to read a case and give it meaning in relation to the key issues or questions that you have been asked about it
2. You have to be able to communicate your thinking effectively in a class discussion 3. You must be able to write a persuasive response to a question about a case
Reading, discussing, and writing about cases all involve the application of knowledge to the situation described in a case. What does “knowledge” mean? It includes your work experience and also the knowledge you have learned in other MBA courses. The case method will not work well if you do not come to class prepared.
Individual Case Forum Preps
You will submit an individual case prep for the two case forums at the beginning of class. In these preps, you will outline the context of the case including your understanding of the business background, environment, challenges, innovation strategy, and possible options &
recommendations. Do your best to address the major issues outlined in the case, including any questions that might be posed.
Remember: Prior to the simulation, you may not have all the information needed to “solve” the case. Discussion questions will be posted on eClass to guide your analysis. I will be looking for a thorough integration of course material and an accurate representation of ideas. Case preps should be three (3) pages maximum with a 12-point font, double-spaced.
The evaluation of the written reports will be based on the quality of the analysis, the logic of arguments presented, and the appropriateness of your recommendations. The reasonableness of assumptions and sound decision-making will enter in as well. The quality of your written communication will also play a role in the evaluation.
E. PERFORMANCE ASSESSMENT
In determining the final grade in this course the following evaluation instruments will be used:
Content
Grade Presentation
Grade Total
Grades Think Tank
Presentation Final Pitch
Presentation 20 20
Individual Case
Preps x 2 20 20 Case Forum
Presentations x 2 20 20
Class Contribution 10 10
Final Case
Analysis 30 30
Total Grades 100
Final grades represent how you perform in the class relative to other students. Your grade will not be based on a mandated target, but on your performance. Three items are considered when assigning final grades:
Your average weighted score as a percentage of the available points for all assignments (the points you receive divided by the number of points possible).
The overall average percentage score within the class.
Your individual ranking among all students in the class.
The distribution of grades will closely follow the guidelines of the University of Alberta.
Class Contribution
This part of your grade will be based on effective contributions to class discussions & exercises.
Contributions to class discussion include dialog during lectures, participating during case discussions and guest speaker presentations. These contributions should include input that is relevant to the course content and the topic of discussion. Case courses work well, and are enjoyable effective learning experiences, if everyone is an active productive participant.
In grading your class contribution, I will look at both the quantity and quality of your class participation and/or interventions. In-class contributions are obviously a function of preparation, skills, attitude, and a willingness to actively commit yourself to the class and your peers. A classroom is a cost-free environment for experimenting and learning to "play the game". Make use of it. I recognize that some students are far more comfortable than others with in-class participation. However, it is important you make an effort every class to contribute in some meaningful way. Please feel free to come and discuss with me ways to enhance your
participation.
Before each class discussion, it is expected that all students will make brief notes or outlines – identify critical problems, analyze relevant numbers, do the financials, generate alternative
recommended courses of action, and generate ideas about how to implement them. You should rely on these notes when contributing to the class discussion.
Class contribution assessment:
8.5 – 10.0 For regularly participating in class exercises and discussions - and frequently demonstrating preparation, creativity, insight, and leadership when doing so.
7.0 – 8.0 For frequently participating in class exercises and discussions - and occasionally demonstrating preparation, creativity, insight, and leadership when doing so.
5.0 – 6.5 For attending class on a regular basis and demonstrating an active interest
in the exercises and discussions, but volunteering for these activities only occasionally OR for attending class on an irregular* basis but consistently participating in class exercises and discussions when in attendance.
3.0 – 4.5 For attending class on a regular basis but rarely participating in exercises
and discussions OR for attending class on an irregular* basis but frequently participating in class exercises and discussions when in attendance.
0.0 – 2.5 For failing on the above ways to contribute to an effective class experience.
* See Attendance Policy
Attendance Policy
Class attendance is ABSOLUTELY essential. This course heavily relies on your participation and discussion, unlike an instructor-led lecture. All missed classes will be noted. Presence in class means joining the class on time and staying in class until it ends.
Peer Evaluations
Please note the peer evaluations have an impact on your individual grade for the group work (Case Forum Presentations and Advisory Plan Project). Individual members may see a lower mark than the one given by the instructor if peer assessments reflect lower performance. Peer assessment forms will be posted on eClass.
F. REQUIRED TEXTBOOK & RESOURCES
Strategic Innovation Management, Joe Tidd and John Bessant, Wiley (includes interactive e- book)
Student Companion Website: Innovation Portal: http://www.innovation-portal.info/
Course packs can be obtained at www.iveycases.com and https://hbsp.harvard.edu (details to be provided in class)
Additional articles and cases will be posted on eClass (weekly readings) G. CONFIDENTIALITY AND INTELLECTUAL PROPERTIES
All original business ideas and concepts presented in this class are - and will remain - the intellectual property of the authors of these documents. As teams share details of their plans in class, students and instructors will treat this as privileged communications and will not disclose information or distribute documents they receive pertaining to these business ideas and plans unless permission has been granted. The plans will not be construed as an offer to sell any product, service or share in the company to any other student, faculty, or other participant related to the course.
H. The University of Alberta is committed to the highest standards of academic integrity and ACADEMIC INTEGRITY and UNIVERSITY POLICY
“The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behaviour (online at www.ualberta.ca/secretariat/appeals.htm) and to avoid any behaviour, which could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.” (GFC 29 SEP 2003)
“Policy about course outlines can be found in Section 23.4(2) of the University Calendar.” (GFC SEP 2003)
Missed Assignments. Approval for an excused absence from term work is at the discretion of the instructor as per §23.3(1) of the University Calendar. Any student who is incapacitated because of illness, is suffering from severe domestic affliction, or has other compelling reasons (including religious conviction) may apply for an excused absence for a missed assignment. If you have a conflict please discusses it with me beforehand and I will be happy to find a good solution with you. In fairness to other students, I will rarely accept excuses once an assignment deadline has passed.
Appropriate Conduct. My goal in this course is to create a supportive environment for learning based on open, constructive debate. This requires all of us to be engaged with the material and with each other in a professional manner, with courtesy and respect for each other’s
individuality. Discrimination, malicious criticism, and disruption of class are examples of conduct that are not acceptable.
Lecture Recordings. Audio or video recording of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an approved accommodation plan. Recorded material is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the instructor.
“There are no old roads to new directions.” – Boston Consulting Group
“I find out what the world needs. Then I go ahead and try to invent it.” – Thomas Edison`
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SMO 603 – Managing Innovation Fall 2019
Day Date Topic Readings Exercises/Cases/Suggested Readings - Innovation
Portal/Assignments due
1 4-Sep
1. Course Overview & Introduction 2. Innovation:
What it is and Why it Matters
Chapter 1 The Innovators (In-class videos); Form Student Groups
2 11-Sep
1. Innovation Strategy 2. Identifying Strategic Capabilities
Chapters 2 & 3 Aravind Eye Clinics; Zara; Uber IPO article
3 18-Sep
1. Leadership and Organization of Innovation 2.
Innovation as a Process 3. Guest Speaker TBA
Chapters 4 & 5 Yellowberry (Case & video); Warby Parker (in-class);
Business Model Canvas
4 25-Sep
1. Sources of Innovation 2. Search Strategies for Innovation 3. Guest Speaker TBA
Chapters 6 & 7 Espresso Mushroom Company; Idea Submission Form Due (via eClass)
5 2-Oct
1. Selecting Innovation Projects 2. Developing New Products and Services 3. Open Innovation
4. HBS Innovation Simulation
Chapters 9, 10 &
17
Innovation Simulation: Breaking News! Tucker Marion, Sebastian Fixson, Harvard Business School, 2018 (Read
Chapter 17 to prepare for simulation) 6 9-Oct 1. Users as Innovators 2. Workshop: An
Introduction to Design Thinking Chapter 16 Design Thinking Simulation: The Wallet Project d- school, Stanford University
7 16-Oct 1. Commercialization and Diffusion of Innovations
2. Business Models & Capturing Value Chapters 12 & 14 Apple Watch: Managing Innovation Resistance (Ivey Case) Think Tank Student Presentations
Day Date Topic Readings Exercises/Suggested Readings - Innovation Portal/Assignments due
8 23-Oct Case Forum & Simulation GoPro, Inc.
(GoPro) Case Forum Consultant Presentations & Management Response
9 30-Oct 1. Exploiting Discontinuous Innovation 2. TELUS
Innovation Centre Tour - Tentative Chapter 18 Case Study TBA
10 6-Nov 1. Social Innovation 2. Guest Speaker TBA Chapter 19 Social Opportunity Assessment Tool; Social Lean Canvas;
Aravind Eye Clinics; Kiva vs. MYC4: Business Model Innovation in Social Lending
11 13-Nov Fall Reading Week No Class Fall Reading Week
12 20-Nov Case Forum & Simulation Tesla Motors, Inc.
(Tesla) Case Forum Consultant Presentations & Management Response
13 27-Nov 1. Student Presentations
2. Course Conclusion & Overview 3. Final Case Analysis Preview
Pitch Presentations Submit: Presentation slides
14 4-Dec Final Case Analysis Submission via eClass or hard copy. Computer lab
room TBA
