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A Scientific Approach to Innovation Management

Approx. 14 hours to complete

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Course Summary

Learn how to use the scientific approach to innovation management with this course. Discover the key principles and techniques for driving innovation in your organization.

Key Learning Points

Understand the scientific approach to innovation management
Learn how to apply key principles and techniques to drive innovation
Develop the skills needed to become an effective innovation manager

Job Positions & Salaries of people who have taken this course might have

- USA: $90,000 - $150,000
- India: ₹1,000,000 - ₹2,500,000
- Spain: €40,000 - €70,000
- USA: $90,000 - $150,000
- India: ₹1,000,000 - ₹2,500,000
- Spain: €40,000 - €70,000
- USA: $100,000 - $180,000
- India: ₹1,200,000 - ₹3,000,000
- Spain: €50,000 - €90,000
- USA: $90,000 - $150,000
- India: ₹1,000,000 - ₹2,500,000
- Spain: €40,000 - €70,000
- USA: $100,000 - $180,000
- India: ₹1,200,000 - ₹3,000,000
- Spain: €50,000 - €90,000
- USA: $80,000 - $120,000
- India: ₹800,000 - ₹2,000,000
- Spain: €30,000 - €60,000

Learning Outcomes

Understand the scientific approach to innovation management
Apply key principles and techniques to drive innovation
Develop the skills needed to become an effective innovation manager

Prerequisites or good to have knowledge before taking this course

Basic knowledge of innovation management
Willingness to learn and apply new techniques

Course Difficulty Level

Intermediate

Course Format

Online
Self-paced

Similar Courses

Design Thinking for Innovation
Strategic Innovation: Building and Sustaining Innovative Organizations

Related Education Paths

Notable People in This Field

Innovation Expert
Innovation Strategist

Related Books

Description

How can innovators understand if their idea is worth developing and pursuing? In this course, we lay out a systematic process to make strategic decisions about innovative product or services that will help entrepreneurs, managers and innovators to avoid common pitfalls. We teach students to assess the feasibility of an innovative idea through problem-framing techniques and rigorous data analysis labelled ‘a scientific approach’. The course is highly interactive and includes exercises and real-world applications. We will also show the implications of a scientific approach to innovation management through a wide range of examples and case studies.

Outline

THE INNOVATION DECISION
Welcome to the course
Operation efficiency vs strategic efficiency
What data can and cannot do
Strategic efficiency
What does the scientific approach do: the Galilean manager
Inkdome case
What is innovation
The structure of the innovation decision
Risk and Uncertainty
Type I and type II errors in innovation decisions
Interactive tour of the Museum of Failure
Antecedents of the Scientific Approach
The Building Blocks: THEED
Formulate and apply theories to managerial problems
Tools: business model canvas and other tools
Readings & Videos
Recap slides
Background material (extended slides)
Week 1

THEORY AND DATA FOR INNOVATION MANAGEMENT
Basic tools: probabilities
Conditional probabilities and the Bayes Theorem
The Scientific Approach: Theory and Mechanisms
Using the organization to set the decision rule
The Scientific Approach: summary and its use in practice
How to derive hypotheses from a theory
Hypotheses and their context [p values don’t always matter]
Cases
Design and logic of hypothesis testing (download the attached datasets)
The use of experiments in innovation management
Randomized Control Trials
Split and multivariate tests
Quasi Experimental Design
Innovation metrics
Metrics validity and reliability
Metrics validity
Metrics reliability
Readings & Videos
Recap slides
Background material (extended slides)
Exercise 1
Exercise 2
Week 2

DATA ANALYSIS
Correlation vs causality
Regression analysis: Theory
Regression analysis: Application
Interview with Mimoto: paving the way for electric mobility using a scientific approach
Interview with Eni Gas and Power: leveraging big data to uncover customer preferences
Using data to answer important questions at Google
How firms and startups can gather and analyze data to test hypotheses
Reflection critical evaluation
Readings & Videos
Recap slides
Background material (extended slides)
Week 3

ADVANCED TOOLS FOR INNOVATION MANAGEMENT DECISIONS
Difference-in-difference approach: Theory (download the attached datasets)
Difference-in-difference approach: Examples (download the attached datasets)
Instrumental variables: Theory (download the attached datasets)
Instrumental variables: Examples (download the attached datasets)
Data science vs causal links
Machine learning for innovation management decisions
Summary, conclusions, limitations of the scientific approach
Readings & Videos
Recap slides
Background material (extended slides)
Week 4

FINAL PROJECT

Summary of User Reviews

Find out what users are saying about the Scientific Approach to Innovation Management course on Coursera. Discover the overall sentiment and key takeaways from a variety of reviews.

Key Aspect Users Liked About This Course

Many users found the course content to be comprehensive and well-organized.

Pros from User Reviews

The course provides a solid understanding of innovation management principles.
The instructors are knowledgeable and engaging.
The assignments and quizzes are challenging and thought-provoking.
The course is self-paced, allowing for flexibility in scheduling.
The platform is user-friendly and easy to navigate.

Cons from User Reviews

Some users found the course to be too basic and lacking in depth.
The course may be too technical for those without a background in business or engineering.
The discussion forums can be overwhelming and difficult to navigate.
The course may not be suitable for those looking for hands-on experience with innovation management.
The course is only available in English, which may be a barrier for non-native speakers.

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