• Length:
    10 Weeks
  • Effort:
    8–10 hours per week
  • Price:

    FREE
    Add a Verified Certificate for $249 USD

  • Institution
  • Subject:
  • Level:
    Intermediate
  • Language:
    English
  • Video Transcript:
    English

Associated Programs:

Prerequisites

  • English writing/reading proficiency (required)
  • General knowledge of business processes (recommended)

About this course

Skip About this course

Business models are regarded as a form of innovation and not merely just a vehicle for commercialization. In this course, students will learn about multiple business model innovation avenues and metrics for assessing on-going market fit and sustainability.

This course introduces an evidence-based approach to innovation management with the aim of providing students with the capability to understand the strategic value of information and the tools and techniques that can be used to analyze and use that information to improve decision-making. Tools include: customer discovery, prototyping, financial modeling, business plans and forecasts.

Students will learn how to apply the most effective tools in developing sustainable business models by exploiting viable, validated opportunities in rapidly changing environments where traditional strategic management approaches are less effective.

 

What you'll learn

Skip What you'll learn
  • How design techniques can help businesses to develop market relevant ideas,
  • How to use financial decision-making techniques to improve innovation outcomes,
  • Adapt and apply strategic and operational management frameworks and tools necessary for innovation leadership,
  • Overview of planning and problem solving methods,
  • Relationship between and use of business models and business plans.
Week 1: Why do innovations fail?
Analyze the factors that lead to the failure of innovation

Week 2: Business models and innovation
Explain and apply the role of the business model in capturing value from innovation

Week 3: Value chains and Industry Networks
Introduce value chains and their use for innovation including within industry networks and multi-business projects

Week 4: Designing and testing innovation options
Identify how design thinking can help innovation, including technologies that can be used during the designing and testing of innovation concepts

Week 5: Managing for now and the future
Describe how portfolio approaches can be used to scale up innovation

Week 6: Introduction to valuing innovation
Introduce valuation, discounted and dynamic cash flow modeling and the relationship between financial tools and innovation

Week 7: Managing implementation projects
Outline project management tools for use in innovation projects including stage gate, network and knowledge management

Week 8: Structured problem solving for planning
Demonstrate competence in adapting and applying the strategic and operational managerial frameworks and tools necessary for innovation

Week 9: Business plans
Identify the value of innovation business plans

Week 10: Managing uncertainty and risk in innovation
Explain how organizations respond to shifting workplace dynamics, customer expectations or technological advances

Meet your instructors

John Steen
Associate Professor
The University of Queensland

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Learner testimonials

"Gaining a wider perspective on changes to and development of key strategies within a large corporation have been very useful in my understanding of the business environment. Being able to better articulate scenarios is a useful skill that can be applied within my organisation." - Previous Learner

Who can take this course?

Unfortunately, learners from one or more of the following countries or regions will not be able to register for this course: Iran, Cuba and the Crimea region of Ukraine. While edX has sought licenses from the U.S. Office of Foreign Assets Control (OFAC) to offer our courses to learners in these countries and regions, the licenses we have received are not broad enough to allow us to offer this course in all locations. EdX truly regrets that U.S. sanctions prevent us from offering all of our courses to everyone, no matter where they live.