Open Innovation and Corporate Entrepreneurship
Program Description
Innovation can make the difference between profit and stagnation. Much of the dynamism in business today comes from innovative entrepreneurs and a handful of multinationals that constantly reinvent themselves, leaving most corporations struggling to find new ideas internally.
Open innovation is a new way to think about generating ideas and bringing them to market. It challenges the traditional internally focused approach; most new ideas no longer come from the corporate R&D lab. Winning companies are those that have the edge in filtering the best ideas from any source and extracting value. It no longer matters where an idea is invented.
The flip side is that companies can monetize their non-core assets by allowing them to move outside the corporation. By breaking down traditional boundaries, open innovation allows intellectual property, ideas and people to flow freely in an out of an organization.
Even in this economic downturn, innovation is critical. History has shown that companies continuing to invest in innovation during tough economic times are those that fare best in a recovery.
This program is a pragmatic workshop designed for corporate managers who want to learn and implement this new model of innovation and gain skills in corporate entrepreneurship.
Advantages
You will derive long-term value that changes the way you think about innovation. Some of the topics that will be examined:
- Three main structural approaches to corporate innovation and entrepreneurship
- How to apply open innovation concepts
- The power of innovating a business model
- Get the most from corporate venture capital
- How to tap the best ideas anywhere in the world
- Understand what constitutes a solid new business opportunity
- When to spin out a new company
- The role of key players in a new enterprise
- Elements of the innovation toolkit
You will convert opportunity to action in a daily workshop where participants practice skills learned during the day. Participants can bring a current opportunity to get help analyzing it in the context of real world entrepreneurial ventures, positioning the venture, maneuvering inside the corporate environment and developing an action plan.
Methodology
You will experience a hands-on, practical approach through:
- Interactive teaching
- Case studies and discussion
- Guest speakers from industry and venture capital
- Practice clinics for your project
- Building a presentation
Participants will spend part of each day working on their project, using the day’s information as a building block. On the last day, you will present to your peers in class and receive feedback on the final plan. The course deliverable is a battle-tested presentation that has been critiqued by peers and instructors, ready to be vetted in your company.
Who Should Attend
The program is targeted to senior and mid level executives who have significant input into driving innovation or technology inside the corporation.
Titles that can benefit from this workshop include:
- Corporate venturing
- Innovation officer
- Strategic planning
- Corporate development
- Business development
- R&D/Technology management
- Engineering
- Information technology
- Product marketing/product management
- New product development
