All Three Class Assignments - Overview: 1. Identify a firm of your choice with one or more managers willing to be interviewed (for 1 - 1.5 hours) for your class assignment. Where possible try to interview at least two people in different positions. While you can choose the firm, there are a number of constraints; most important, the firm must be built around one or more innovative technologies as a source of its competitive advantage (i.e. not strictly service firms or consulting firms). Similarly, there are few constraints on who you interview, only that the manager(s) must have responsibility for innovation i.e. Chief Technology Officer, Head of R&D, Chief Operating Officer, VP or Director R&D, VP or Director Applications, Head of Engineering etc. 2. Develop a list of questions to ask the manager(s), designed to that capture the lessons and key practices from the module (i.e. the innovation processes for exploring an innovation for Assignment 1, the innovation structures and incentives for executing innovations for Assignment 2 etc.). These questions should be structured so that you can address whether the various innovation practices covered in the module are used, how they are organized, what are their strengths, what are their limitations in the \"real world.\" 3. Write up an analysis of your interview(s) including background information about the firm (age, size, technology, market application, stage in the innovation cycle), your questions, your assessment of the firm's strengths and weaknesses in implementing \"best practices\" for the aspect of innovation covered in the Module. Also include recommendations on how they might improve and your insights into the challenges associated with implementing the processes, structures and strategies covered in class in real world situations. Finally document any related practices - processes, structures or strategies that the manager emphasized but we overlooked in class. Assignment 1: Exploring innovation The focus here is to understand the methods that companies use when selecting and refining a particular business concept/project: How did market and technology dynamics provide opportunities for the company? How was the opportunity concept developed? Was it a \"technology looking for a home\" or a need looking to be met? What sources of ideas were consulted? What methods were used - brainstorming, lead user analysis etc.? How were the risks assessed and prioritized? How did the company plan the order in which technical experiments were done - according to a standard stage-gate, by risk, by investor demands? Assignment 2: Executing innovation The focus here should be on the structures and incentives the organization utilizes to effectively allow talented individuals (from different functions) to execute innovation processes: How was the entire innovation process structured? Is it a stage-gate process? Are many activities undertaken in parallel? How are R&D teams designed? What is the incentive structure within a team and across teams? What types of incentives are given to technical and business people engaged in the process? Are outside individuals part of the innovation process - for example outsourced R&D, community-based users such as open source, academics? If so, what are the incentives for them? How is IP managed in these external relationships? Assignment 3: Exploiting innovation Lastly, it is important to understand the strategies that a firm must consider to most effectively exploit the value of their innovation, including innovation platforms that incorporate multiple product options, portfolios and standards. What are the drivers of commercialization? Does the firm have strong IP? How much do they rely on other assets such as market channels, brand etc.? Does the firm engage in strategic partnerships? If so, what are the basic factors that make this partnership-based approach effective? Which markets and customers will be the initial focus; which portfolio of projects will provide early success and a platform for the future? Does the firm have a platform strategy? What are the challenges of managing platforms and portfolios for the firm? Additional Guidelines You are turning in 3 separate reports for assignments 1, 2, and 3. Please limit your reports to 2-3 pages, double-spaced. The three projects together will account for 30% of your final grade. For each module the assignment directions are the same. This is an individual assignment using a company of your choice. It is preferable if you complete all three assignments in the same company although there is no penalty if you cannot do so for any reason. The innovation process was stage to stage. Every activity was done effectively and in manner that one at a time. The innovation process can be placed into a business context by separating its distinct parts. Beginning with the continual flow of ideas from a variety of sources such as customers, academia, and partnerships. Once an idea is selected to continue as a project, it enters our Product Innovation Process or Capital Investment Management Process, which is a stage-gate process that begins with data collection. The project then progresses stage-wise through the complete development of the idea into a commercial product or process. The Portfolio Management Process then analyzes these data so that decisions to progress, accelerate, decelerate, suspend, or terminate can ultimately be made. Of course, these decisions must be made with a clear understanding of the business strategy on which all relevant ideas are based. The activities were done in accordance to each other since we were dealing within common aspect of innovation. Research and development (R&D) consists of investigative activities that a business chooses to conduct with the intention of making a discovery that can either lead to the development of new products or procedures, or to improvement of existing products or procedures. Research and development is one of the means by which business can experience future growth by developing new products or processes to improve and expand their operations While R&D is often thought of as synonymous with high-tech firms that are on the cutting edge of new technology, many established consumer goods companies spend large sums of money on improving old products. The teams were designed in groups of ten individuals each. Each group was allocated tasks to perform and headed by an expert. The incentives given here included increased payment, free research materials and some were given shirts supporting the project. The outside people were part of the innovation and were given free goods as part of innovation. The structure was based on merit and only the best performers of their tasks were given property (IP) is a term for any intangible asset -- something proprietary that doesn't exist as a physical object but has value. Examples of intellectual property include designs, concepts, software, inventions, trade secrets, formulas and brand names, as well as works of art. Intellectual property can be protected by copyright, trademark, patent or other legal measure. Building relationships is just as important within the project team as it is outside. Good relationships can be the difference between outstanding success and dismal failure because it's all about getting people to like and trust you so that they will deliver what you need them to deliver at the right time in the right way. We have talked previously about managing stakeholders, finding out about and managing their needs and expectations, however this is much easier if you have developed good relationships with stakeholders in the first place. Building good relationships means being truly interested in the people you deal with, both from a business and personal view. While discussing business issues is usually the main purpose of speaking with someone, finding out something personal about them takes the relationship to the next level. Learning about hobbies, special interests, family, accomplishments, leisure time activities, organization memberships, and special dates such as birthdays will help you make a deeper connection with them. The important thing is what you do with the information. When dealing with team members, suppliers, clients and stakeholders try to mix personal information in the conversation. Every contact doesn't have to be about business. It's about peeling away the layers of formality and resistance to improve your chances of achieving what you want to achieve from the interaction. The best project managers are those that develop a good sense of community within the project team. Establishing a healthy culture as part of that community can help win the hearts and minds of clients, staff and suppliers. Culture is about sharing values and a healthy culture will be one that has people who care about each other. In projects it's about creating a 'community' within the project team that shares a common purpose. It's not just a nice idea. A healthy culture can give a team an edge both in performance and in attracting good quality team members which is of vital importance. A good culture includes (often unspoken) expectations about the way things are done. In a project team these can be about how members respond to inquiries, how they greet each other, and how they behave when the pressure is on. It's about treating people with respect and listening to their point of view. This doesn't mean you have to agree, but it does mean you respect their right to think differently and to express their views. Cultures need leaders to set expectations and offer guidance on what's important. As a project manager you will need to be aware that people are watching you for clues as to how to behave in relationships with others. Actions speak louder than words. All Three Class Assignments - Overview: 1. Identify a firm of your choice with one or more managers willing to be interviewed (for 1 - 1.5 hours) for your class assignment. Where possible try to interview at least two people in different positions. While you can choose the firm, there are a number of constraints; most important, the firm must be built around one or more innovative technologies as a source of its competitive advantage (i.e. not strictly service firms or consulting firms). Similarly, there are few constraints on who you interview, only that the manager(s) must have responsibility for innovation i.e. Chief Technology Officer, Head of R&D, Chief Operating Officer, VP or Director R&D, VP or Director Applications, Head of Engineering etc. 2. Develop a list of questions to ask the manager(s), designed to that capture the lessons and key practices from the module (i.e. the innovation processes for exploring an innovation for Assignment 1, the innovation structures and incentives for executing innovations for Assignment 2 etc.). These questions should be structured so that you can address whether the various innovation practices covered in the module are used, how they are organized, what are their strengths, what are their limitations in the \"real world.\" 3. Write up an analysis of your interview(s) including background information about the firm (age, size, technology, market application, stage in the innovation cycle), your questions, your assessment of the firm's strengths and weaknesses in implementing \"best practices\" for the aspect of innovation covered in the Module. Also include recommendations on how they might improve and your insights into the challenges associated with implementing the processes, structures and strategies covered in class in real world situations. Finally document any related practices - processes, structures or strategies that the manager emphasized but we overlooked in class. Assignment 1: Exploring innovation The focus here is to understand the methods that companies use when selecting and refining a particular business concept/project: How did market and technology dynamics provide opportunities for the company? How was the opportunity concept developed? Was it a \"technology looking for a home\" or a need looking to be met? What sources of ideas were consulted? What methods were used - brainstorming, lead user analysis etc.? How were the risks assessed and prioritized? How did the company plan the order in which technical experiments were done - according to a standard stage-gate, by risk, by investor demands? Assignment 2: Executing innovation The focus here should be on the structures and incentives the organization utilizes to effectively allow talented individuals (from different functions) to execute innovation processes: How was the entire innovation process structured? Is it a stage-gate process? Are many activities undertaken in parallel? How are R&D teams designed? What is the incentive structure within a team and across teams? What types of incentives are given to technical and business people engaged in the process? Are outside individuals part of the innovation process - for example outsourced R&D, community-based users such as open source, academics? If so, what are the incentives for them? How is IP managed in these external relationships? Assignment 3: Exploiting innovation Lastly, it is important to understand the strategies that a firm must consider to most effectively exploit the value of their innovation, including innovation platforms that incorporate multiple product options, portfolios and standards. What are the drivers of commercialization? Does the firm have strong IP? How much do they rely on other assets such as market channels, brand etc.? Does the firm engage in strategic partnerships? If so, what are the basic factors that make this partnership-based approach effective? Which markets and customers will be the initial focus; which portfolio of projects will provide early success and a platform for the future? Does the firm have a platform strategy? What are the challenges of managing platforms and portfolios for the firm? Additional Guidelines You are turning in 3 separate reports for assignments 1, 2, and 3. Please limit your reports to 2-3 pages, double-spaced. The three projects together will account for 30% of your final grade. For each module the assignment directions are the same. This is an individual assignment using a company of your choice. It is preferable if you complete all three assignments in the same company although there is no penalty if you cannot do so for any reason. The innovation process was stage to stage. Every activity was done effectively and in manner that one at a time. The innovation process can be placed into a business context by separating its distinct parts. Beginning with the continual flow of ideas from a variety of sources such as customers, academia, and partnerships. Once an idea is selected to continue as a project, it enters our Product Innovation Process or Capital Investment Management Process, which is a stage-gate process that begins with data collection. The project then progresses stage-wise through the complete development of the idea into a commercial product or process. The Portfolio Management Process then analyzes these data so that decisions to progress, accelerate, decelerate, suspend, or terminate can ultimately be made. Of course, these decisions must be made with a clear understanding of the business strategy on which all relevant ideas are based. The activities were done in accordance to each other since we were dealing within common aspect of innovation. Research and development (R&D) consists of investigative activities that a business chooses to conduct with the intention of making a discovery that can either lead to the development of new products or procedures, or to improvement of existing products or procedures. Research and development is one of the means by which business can experience future growth by developing new products or processes to improve and expand their operations While R&D is often thought of as synonymous with high-tech firms that are on the cutting edge of new technology, many established consumer goods companies spend large sums of money on improving old products. The teams were designed in groups of ten individuals each. Each group was allocated tasks to perform and headed by an expert. The incentives given here included increased payment, free research materials and some were given shirts supporting the project. The outside people were part of the innovation and were given free goods as part of innovation. The structure was based on merit and only the best performers of their tasks were given property (IP) is a term for any intangible asset -- something proprietary that doesn't exist as a physical object but has value. Examples of intellectual property include designs, concepts, software, inventions, trade secrets, formulas and brand names, as well as works of art. Intellectual property can be protected by copyright, trademark, patent or other legal measure. Building relationships is just as important within the project team as it is outside. Good relationships can be the difference between outstanding success and dismal failure because it's all about getting people to like and trust you so that they will deliver what you need them to deliver at the right time in the right way. We have talked previously about managing stakeholders, finding out about and managing their needs and expectations, however this is much easier if you have developed good relationships with stakeholders in the first place. Building good relationships means being truly interested in the people you deal with, both from a business and personal view. While discussing business issues is usually the main purpose of speaking with someone, finding out something personal about them takes the relationship to the next level. Learning about hobbies, special interests, family, accomplishments, leisure time activities, organization memberships, and special dates such as birthdays will help you make a deeper connection with them. The important thing is what you do with the information. When dealing with team members, suppliers, clients and stakeholders try to mix personal information in the conversation. Every contact doesn't have to be about business. It's about peeling away the layers of formality and resistance to improve your chances of achieving what you want to achieve from the interaction. The best project managers are those that develop a good sense of community within the project team. Establishing a healthy culture as part of that community can help win the hearts and minds of clients, staff and suppliers. Culture is about sharing values and a healthy culture will be one that has people who care about each other. In projects it's about creating a 'community' within the project team that shares a common purpose. It's not just a nice idea. A healthy culture can give a team an edge both in performance and in attracting good quality team members which is of vital importance. A good culture includes (often unspoken) expectations about the way things are done. In a project team these can be about how members respond to inquiries, how they greet each other, and how they behave when the pressure is on. It's about treating people with respect and listening to their point of view. This doesn't mean you have to agree, but it does mean you respect their right to think differently and to express their views. Cultures need leaders to set expectations and offer guidance on what's important. As a project manager you will need to be aware that people are watching you for clues as to how to behave in relationships with others. Actions speak louder than words. All Three Class Assignments - Overview: 1. Identify a firm of your choice with one or more managers willing to be interviewed (for 1 - 1.5 hours) for your class assignment. Where possible try to interview at least two people in different positions. While you can choose the firm, there are a number of constraints; most important, the firm must be built around one or more innovative technologies as a source of its competitive advantage (i.e. not strictly service firms or consulting firms). Similarly, there are few constraints on who you interview, only that the manager(s) must have responsibility for innovation i.e. Chief Technology Officer, Head of R&D, Chief Operating Officer, VP or Director R&D, VP or Director Applications, Head of Engineering etc. 2. Develop a list of questions to ask the manager(s), designed to that capture the lessons and key practices from the module (i.e. the innovation processes for exploring an innovation for Assignment 1, the innovation structures and incentives for executing innovations for Assignment 2 etc.). These questions should be structured so that you can address whether the various innovation practices covered in the module are used, how they are organized, what are their strengths, what are their limitations in the \"real world.\" 3. Write up an analysis of your interview(s) including background information about the firm (age, size, technology, market application, stage in the innovation cycle), your questions, your assessment of the firm's strengths and weaknesses in implementing \"best practices\" for the aspect of innovation covered in the Module. Also include recommendations on how they might improve and your insights into the challenges associated with implementing the processes, structures and strategies covered in class in real world situations. Finally document any related practices - processes, structures or strategies that the manager emphasized but we overlooked in class. Assignment 1: Exploring innovation The focus here is to understand the methods that companies use when selecting and refining a particular business concept/project: How did market and technology dynamics provide opportunities for the company? How was the opportunity concept developed? Was it a \"technology looking for a home\" or a need looking to be met? What sources of ideas were consulted? What methods were used - brainstorming, lead user analysis etc.? How were the risks assessed and prioritized? How did the company plan the order in which technical experiments were done - according to a standard stage-gate, by risk, by investor demands? Assignment 2: Executing innovation The focus here should be on the structures and incentives the organization utilizes to effectively allow talented individuals (from different functions) to execute innovation processes: How was the entire innovation process structured? Is it a stage-gate process? Are many activities undertaken in parallel? How are R&D teams designed? What is the incentive structure within a team and across teams? What types of incentives are given to technical and business people engaged in the process? Are outside individuals part of the innovation process - for example outsourced R&D, community-based users such as open source, academics? If so, what are the incentives for them? How is IP managed in these external relationships? Assignment 3: Exploiting innovation Lastly, it is important to understand the strategies that a firm must consider to most effectively exploit the value of their innovation, including innovation platforms that incorporate multiple product options, portfolios and standards. What are the drivers of commercialization? Does the firm have strong IP? How much do they rely on other assets such as market channels, brand etc.? Does the firm engage in strategic partnerships? If so, what are the basic factors that make this partnership-based approach effective? Which markets and customers will be the initial focus; which portfolio of projects will provide early success and a platform for the future? Does the firm have a platform strategy? What are the challenges of managing platforms and portfolios for the firm? Additional Guidelines You are turning in 3 separate reports for assignments 1, 2, and 3. Please limit your reports to 2-3 pages, double-spaced. The three projects together will account for 30% of your final grade. For each module the assignment directions are the same. This is an individual assignment using a company of your choice. It is preferable if you complete all three assignments in the same company although there is no penalty if you cannot do so for any reason