Formulating an Innovation Strategy

This badge will explore the methods and tools organizational leaders can use to formulate an innovation strategy. We start with gaining an understanding of the organization's strategic direction and intent and how innovation can help the organization reach its goals. Then we will explore ways firms evaluate which innovation projects to pursue and how to decide if the innovation should be pursued in collaboration with others and how it might be protected by intellectual property.

This is an asynchronous, self-paced class and requires approximately 30-35 hours of learning activities.

Learning Outcomes

• Gain knowledge of the internal and external analysis that can be performed to inform a firm's strategic direction.
• Understand the wide variety of methods available (both quantitative and qualitative) to evaluate innovation projects.
• Identify and explain the various forms of collaboration and the tradeoffs associated with each of them.
• Learn a basis for evaluating the type of intellectual property mechanism to use and the extent to which the protections should be applied.

Requirements/Assessment

1. Create a two-to-four-page memo applying the theories and lessons from this badge to an organization and its innovations. 30 points

2. Reflect and apply the theories and lessons from this badge to a current event in technology and innovation and share your insights through the Flipgrid discussion board. 10 points

3. Demonstrate your mastery of the badge concepts by completing the quiz. You may retake the quiz up to three times; only your highest score will count. 10 points

Strategic Innovation badges are offered every semester. Check back for registration information for the Spring 2023 session.