School of Management, Unit Catalogue 2007/08 |
MN50381 Innovation management: products, services and networks |
| Credits: 6 |
| Level: Masters |
| Modular: no specific semester |
| Semester: 2 |
| Assessment: CW100 |
| Requisites: |
| Before taking this unit you must take MN50334 and in taking this unit you cannot take MN50141 or take MN50246 |
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Aims: This module aims to equip students with an understanding of the skills required to manage product, service and process innovation at operational and strategic level. It will explore how firms can create market advantage, increase revenues, reduce costs, and enhance competitiveness through innovation management.
The module will explore both the practical mechanisms used to develop the commercial potential of product-service innovation, such as platforms, as well as the more processual elements, such as managing multifunctional teams from early conceptual idea-generation through to product launch. The rationale for this course is to investigate the benefit of innovation management at all stages of the product-service lifecycle across public and private supply networks. Learning Outcomes: By the end of this unit students should be able to: * Identify and define innovation as a basis for sustainable competitive advantage in the context of several industry sectors. * Identify best practice in managing innovation across multiple sectors, such as benchmarking and cross-functional teams. * Appreciate the commercial potential of key product-service innovations, such as platforms and 'servitization'. * Recognise the skills and capabilities required to manage innovation in the design and introduction of new processes and methods of product-service delivery. * Understand the issues faced by mature firms in ensuring flow of new product-service innovation and methods of tackling this, such as intrapreneurship and new venturing. * Understand the key strategic and conceptual issues that affect innovation in the supply process involving multiple firms. * Apply basic tools and methodologies which are used to enhance product-service innovation management. Skills: Intellectual skills * the facility to apply subject-specific knowledge into a range of complex situations, taking into account the overall implications for the other areas of the business (T) * a critical awareness of current issues and frameworks in management (T) * the ability to acquire and analyse data, information and situations; to evaluate relevance and validity, and to synthesise it in the context of topical business problems (T/F) Professional Practical skills * evaluate the current standing of an organization and practically contribute to the attainment of their company's strategies and objectives (F) * operate effectively both independently as well as within teams and assume leadership roles where appropriate (F). Transferable/Key skills * an openness and capacity to continue learning with the ability to reflect on earlier knowledge and practice and integrate the new with past experience and effectively apply it to the present situations (T/F) Personal/Interpersonal * an ability to manage and work in international teams with an awareness of issues such as culture, gender, etc., to identify learning/working styles and to use these to the benefit of the individual and the team (F) * the facility to communicate including presenting and marketing themselves and their ideas; preparation and production of effective business plans and reports (A). Content: Explores how firms are able to develop new products and services that are differentiated from their competitors and how firms can out-perform their competitors, whether measured in terms of market share, profitability and growth, or market capitalisation. Examines the inherently difficult and risky process of innovation management, and explores the reasons why most new technologies fail to be translated into products/services, and why most new products/services are not commercial successes. Examines the factors that increase the likely success of new products and services, the use of practical development processes and tools, and proven strategies for development and commercialisation. The module includes concepts of product planning; regulatory and political environment in which innovvation takes place. Examines new strategies and structures for strategic supply: network theory, structures and application; clusters; managing in supply networks. Also includes supply network challenges: leanness and agility; virtual organisations; innovation and the management of technology in supply chains; purchasing's role in new product development and in cross-functional teams; developments in relationship management; collaboration and information system sharing. |