Module contentInnovation has become the heart of competition as the pace of economic change makes exploration of new opportunities increasingly urgent. Innovation is a learning process that requires awareness, understanding, commitment, and decision-making about unfamiliar and often threatening ideas. It is also expensive in terms of the time of the most imaginative leaders—the scarcest resource of most companies.
Developing successful new products is of tremendous importance for organizations. This is an exciting process, but also a very risky one. This is where knowing about specifics of new product development helps, as it minimizes the chances of failure. This course familiarizes students with the general stages of the new product development process. Students will learn how to incorporate the voice of the customer in the product design, how to find the best positioning for the product, how to choose which features of the product to emphasize, etc. The course will also elaborate on products testing and prototyping that follows the design phase. After that the issues related to product launch and post-launch management will be discussed. Each topic will be illustrated by a variety of examples. Most recent methodologies will be presented.