Innovation Strategy Workshop

Vanderbilt University Owen Graduate School of Management
Nashville, Tennessee, United States

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' The goal of Innovation Strategy: Generating, Testing and Implementing Great Ideas in Your Organization is to maximize leadership effectiveness by providing advanced tools that help you expand your organization’s capacity for innovation.

To help their organizations succeed, leaders in banking need to constantly look for new ideas and new approaches to advance the state of the art, to do more with available resources and to better serve their missions and their stakeholders. Yet, one of the toughest challenges in the banking environment is getting traction for a new idea. It is difficult to win over staff, peers, managers and boards—not to mention customers—with the result that potentially powerful new ideas often get stuck in place. This is especially true in times like these where there is little time, money or appetite for experimentation and risks.

This program takes the view that firms (and groups within firms) must articulate an “innovation strategy" as part of their overall strategy. This strategy will have as its goals to 1) encourage individual behaviors that generate new ideas and new opportunities, 2) to create a mechanism for fairly and realistically assessing the promise (and potential risks) of new ideas and 3) to develop an organizational environment that routinely and constantly evaluates, tests and then implements great ideas.

WHAT YOU WILL LEARN:

More workshop than seminar, this highly interactive program will teach participants to rigorously evaluate themselves, their groups and their environment in an effort to diagnose constraints on innovation. They will also learn to apply a structured process for generating, evaluating and implementing new ideas.

The Context of Innovation
- Using an innovation process model to become intentional in pursuit of innovative action

Creativity and Individual Constraints
- Individuals are the source of new ideas: How to help individuals become better idea generators regardless of their position in the banking organization.

Ideas and Groups
- Groups are the primary vehicle for developing and assessing ideas: How to manage emotion, culture, and interpersonal behaviors to improve innovation outcomes.

Innovation in Organizations
- Organizations are the mechanism for implementing complex change: How size, structure, and strategy can be aligned to support the consideration and implementation of innovation.

Evolution of Industries and Institutions
- The banking industry is the context for innovation: How resource availability, competition, alliances and labor relations affect innovation levels in the banking industry.

Tradition, Risk and Societal Change
- Regulations and consumer behavior are critical constraints on the adoption of innovations: How demographics, culture, societal mores, and the political landscape impacts innovation.

The Innovation Process: Described and Applied
- The process used for innovation can support or block innovation: A systematic process for innovating. Working in teams participants choose an innovation problem and use the framework and process presented to generate, select, and plan the implementation of an innovative solution. ...''

Elements of this syllabus are subject to change.

Phone:615-322-2534

School Address:

Vanderbilt Owen Graduate School of Management
401 21st Avenue South
Nashville, TN 37203 USA

Jobs & Resumes: Nashville
Houses & Roommates: Nashville

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