• Marketing Innovation
Discussion Topic:
Identify two new products (introduced to the consumer and/or business markets within the last year) and classify them as either: a new-to-the-world product, a new product line, an addition to the existing product line, an improvement and/or revision of existing product(s), or a repositioning of an existing item. For each product selected, identify what challenges you think the developing company faced in marketing this product. What rate of diffusion and consumer adoption do you foresee for these new products?
• Researching Consumers
Discussion Topic:
Some new products experts maintain that getting close to customers through intensive research is the only way to develop successful new products. Other experts disagree and maintain that customers can't possibly provide useful feedback on what they don't know and can't provide insights that will lead to breakthrough products. What is your position on this? To the extent possible support your answer with substantive data and examples.
• Creativity and Innovation by Dr. Robert Sutton
Discussion Topic:
View three short videos on Creativity and Innovation by Robert Sutton from Stanford University. He makes several interesting points regarding the management of innovation and creativity processes in an organization. Given what you learned from the readings this week, do you agree or disagree with his positions? Support your viewpoint.
Video: What is Creativity? (6 min)
Video: Talking about Creativity Isn't Enough (3 min)
Video: Bringing Creativity into an Organization (3 min)
• Personal Application
Discussion Topic:
Do you consider your organization to be innovative and if it possesses an innovative culture? If your response is in the affirmative, what according to you are the key drivers of the innovation? As well, is the innovation driven more by Individual leaders in your organization or is it more team based?
If you do not think your organization is currently innovative, then what factors do you consider to be barriers (to innovation) in your organization?
Do you have any suggestions about how innovation could be encouraged and promoted in your organization (regardless of whether it is being currently practiced or not)?
Readings
Discussion Topic
I'm Done
Strategic Innovation/NPD
Required Readings
1. Christensen, C. M. (2002). The Rules of Innovation. Technology Review, 105(5), 32.
2. Sawhney, M., Wolcott R. C., &Arroniz, I. (2006). The 12 different ways for companies to innovate. MIT Sloan Management Review, 47(3), 75-81.
3. Simester, D. (2016). Why great new products fail. MIT Sloan Management Review, 57(3), 33-39.
4. Chesbrough, H. W. (2003). The era of open innovation. MIT Sloan Management Review, 44(3), 35-41.
Recommended Reading
• Amit, R., & Zott, C. (2012). Creating value through business model innovation. MIT Sloan Management Review, 53(3), 41-49. Retrieved from https://sloanreview.mit.edu/
• Floren, H., &Frishammar, J. (2012). From preliminary ideas to corroborated product definitions: Managing the front end of new product development. California Management Review, 54(4), 20-43. doi:10.1525/cmr.2012.54.4.20
• Nylén, D., &Holmström, J. (2015). Digital innovation strategy: A framework for diagnosing and improving digital product and service innovation. Business Horizons, 58(1), 57-67. doi:10.1016/j.bushor.2014.09.001