Code

ΠΔ-310

Semester

1st

ECTS

7,5

E-Services

Lefkippos

Category

Obligatory

Instructors

A. Menychtas

I. Katsanakis

A. Kiourtis

Objective

We live in a world where rapidly developing technology affects our lives like never before. Digital technology is transforming businesses, economies, and society. Developments in all areas of science and technology are helping to rearrange competition, expand industry boundaries, and transform business operations, sometimes radically. In the modern era of the “Digital Age” the ability to innovate is a key competitive advantage not only for companies but also for individuals, communities, and nations. The coming years will be the era of the “engineer-entrepreneur” and the “Digital Leader”. The engineer of the 21st century must have the entrepreneurial spirit, imagination, and management skills to be able to identify needs, propose new solutions, and implement them. In addition, tomorrow’s leaders must embrace the digital revolution and recognize the power of disruptive technologies that are disrupting the business arena to ensure the survival of their organizations in an ever-changing environment. This course aims to make students competent in the application of frameworks, methodologies, and best practices of the strategic management of technological innovation in the context of a modern organization that competes in a networked world. The course develops students’ skills to think holistically about the role of knowledge management and innovation as part of a strategic planning process for the creation of a new business activity within an existing organization or a startup. An integral part of the course is group work, where groups of students undertake to develop a strategic business plan for the design, development and commercialization of a high-tech product or service of their choice, covering topics such as: market feasibility study, analysis of competition, strategic & business plan.

After successfully completing the course, students will be able to:

  • design methodologies for managing technological innovation
  • apply best practices of knowledge management and innovation
  • develop a knowledge and innovation management business plan
  • evaluate the performance of the technological innovation management plan

Learning outcomes

  • Search for, analysis and synthesis of data and information, with the use of the necessary technology
  • Adapting to new situations
  • Decision-making
  • Team work
  • Working in an interdisciplinary environment
  • Project planning and management
  • Criticism and self-criticism
  • Production of free, creative and inductive thinking

Syllabus

  • Introduction to Creativity, Innovation and Entrepreneurship

    Innovative Ideas – Evaluation as Business Opportunities. The importance of innovation for modern society. Definition of Invention and Innovation. The Open Innovation model and the role of the Crowd in the design and development of new products.

  • Strategic Management of Technological Innovation

    Types of Innovation: Radical, Elemental, Architectural or Departmental. Technology trajectory? Technology Diffusion and Market Adoption Curves. Disruptive Innovations & “Innovator’s Dilemma” by, Clayton Christensen. Case Study: The Digital Camera Market and the Case of Eastman Kodak.

  • Opportunity Analysis

    Model of the Seven Domains of the Analysis of Attractive Opportunities (Seven Domain Analysis – John Mullins). Assessment of Market & Industry attractiveness. The macro environment of the Market – PESTEL analysis. Critical Issues: Sustainable Development, Circular Economy.

  • Data as a Competitive Advantage

    The role of “big data” (Big Data) in Business Intelligence & the process of making informed decisions. Brief introduction to Big-Data Analytics tools.

  • Crafting a Corporate Strategy

    Vision, Mission & Goals. Setting goals and objectives – the Balanced Scorecard. Growth strategies (Ansoff) and portfolio analysis (BCG). Brief introduction to change management.

  • Strategic Foundation – Industry Attractiveness & Sustainable Advantage

    Why are some industries better than others? The classical approach to strategy (structural analysis, Porter’s 5-forces model and value chain analysis). How intelligent interconnected objects are transforming the competition (M. Porter).

  • On Business Models & the Business Plan

    Επιχειρηματικά μοντέλα και το Επιχειρησιακό Σχέδιο: Γιατί είναι σημαντικά τα επιχειρηματικά μοντέλα; (Joan Magretta). O καμβάς του Επιχειρηματικού μοντέλου (Business Model Canvas, by Osterwalder). Εισαγωγή στην ανάπτυξη ενός επιχειρηματικού σχεδίου.

  • Methods of selection of Business Proposals (VC Funding)

    Quantitative (Discounted Cash Flow – DCF, Net-Present Value – NPV, Internal Rate of Return – IRR) & Qualitative (Q-Sort, Conjoint Analysis, Data Envelopment Analysis – DEA). Case analysis of Boeing’s development of the Dreamliner aircraft model. Raising capital to finance a new business through a venture capital company (VC-fund).

  • “Social” aspects of new technologies (Soft aspects of new technologies)

    Security, Privacy and Trust Issues in the Internet of Everything (IoE) era. Ethics in the Age of Autonomous Vehicles, Robotics, Cyborgs, and “Super-Intelligence” (by Nick Bostrom).

  • Marketing Strategy over the Product Life–Cycle (PLC)

    Marketing strategies for first-time products. Geoffrey Moore’s theory of the gap in the Product Life Cycle (PLC) and the recommended strategy for crossing the gap. The Blue-Ocean strategy and value innovation.

Bibliography

  • Schilling, “Strategic Management of Technological Innovation,” Int’l 2nd Ed., ISBN-13:978-1259539060, McGraw-Hill, 2012.
  • Eric Ries, “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses,” 2011.
  • John Mullins, “The New Business Road Test,” 2/E Prentice Hall / Financial Times, 2006.
  • Hisrich, M.P. Peters, D.A. Shepherd, “Entrepreneurship,” 9th Ed., McGraw-Hill, International Edition 2013.
  • Clayton M. Christensen, “The Innovator’s Dilemma”, HarperBusiness; Jan. 2003.
  • Geoffrey A. Moore, “Crossing the Chasm”, HarperBusiness; Revised Ed., Aug. 2002.
  • Larry Downes, Paul Nunes, “Big Bang Disruption: Strategy in the Age of Devastating Innovation“, Portfolio/Penguin, 2014.
  • Pedro Domingo, “The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake Our World”, Basic Books, Sep. 2015
  • Nick Bostrom, “Superintelligence: Paths, Dangers, Strategies“,Oxford University Press, May 2016
  • Daniel D. Gutierrez, “Machine Learning and Data Science: An Introduction to Statistical Learning Methods with R”, Technics Publications, Sep. 2015