MBA 6607 - Corporate Entrepreneurship and Innovation (2)
(Required for Entrepreneurship and Innovation Concentration) Corporate entrepreneurship and developing new business is a daunting task to many established companies. This is because the organizational capabilities and processes required for new business innovation are drastically different from, and sometimes, even in conflict with those required for established business. Many companies tried but failed while others succeeded. This course is to share with you the lessons and effective practices of many companies that tried various innovation and growth strategies. In particular, the course will focus on following topics: -How to generate new business ideas in the strategic context of a company, and funnel internal and external (open innovation) business ideas to a company's commercialization process. -How to use different funding systems, appropriate organizational structures/homes to manage new business innovation projects. -Managing the milestones and evolutions of new business innovation projects. -Managing the relationships between new business venture projects and existing businesses. -How to fold new business projects back to the core business infrastructure of a company. -How to create and manage robust innovation programs, including budgeting, monitoring and resource allocation among multiple innovation projects. -How to develop and manage talents required for new business projects. -How to become successful entrepreneurs to advance your careers in corporate environments. Colleges restricted to College of Arts and Sci (Sci) and Sch of Bus and Prof Studies. Restricted to Computer Science, Computer Science, Computer Science (4+1), Business Administration, Business Administration, Business Administration, Business Administration, and Organization Development majors.