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Managing disruption through innovation

BREAKING DOWN INNOVATION

Anything new is innovation, even finding newer ways of rehashing old routines to make them sharper and faster is innovation. The ability for businesses to be able to look into the future and constantly devise ways to capture markets or create new ones—that’s Innovation Management.

To further understand this concept, let us break it down into following three aspects:

  1. Competency – which is governed by organisational capabilities

  2. Strategy – sourcing and channelling resources for optimum results

  3. Management – At the root of all changes that propel business growth is effective management of human resources, because business is always about people. Successful management policies combined with stellar levels of competencies and strategies set the bar high for competition and allow companies to manage innovations effectively for continued triumph.

DO WOMEN MAKE
BETTER INNOVATORS THAN MEN?

There is a multitude of views about the battle of the sexes. Market information successfully concludes that the gender of the manager is unimportant as long the innovation focuses on delivering a tangible outcome in value that is new to the company. Research has further pointed out that the best climate to create and foster innovation is generated by an androgynous leadership style and that men and women make leaders alike.

Now that we know what it means, let us explore on how to develop the necessary skills to be an Innovation Manager.

WHERE TO STUDY?

Innovation Management started out as a sub-discipline under general management programmes offered by B-schools across the globe. But as it has steadily gained traction, this concept is being offered to students and enthusiasts as an independent discipline across various platforms.

  • Full time/campus: There are exclusive postgraduate programmes on Innovation Management offered full time by various leading global business schools. These modules are designed to allow students to explore how organizations can identify and transform good ideas into a success story and gain competitive advantage; how does a business institution integrate commercial, social, technical and legal aspects of products and services to propel innovative ideas to fruition.

Holdbacks: For starters, these are full-time courses. One availing these can pursue a part-time job at the most. Do consider the heavy fees and the candidate’s eligibility. For those who do not wish to quit their active career, there are other prospects for such to scale up.
  • Online/part time: A growing number of institutions, apart from leading business schools, now offer a plethora of short-term online/part-time programmes in Innovation Management. The course duration varies between 1-3 months and offers a certificate on completion. Course fees are highly variable and depend on the institutes that offer them.

Holdbacks: As an enthusiast, you may get too carried away with the idea of upskilling yourself and may overcommit to your study schedule. Be warned, for the ultimate result of such tactics will only result in a burnout. Plan your schedule wisely and build enough buffer time to catch up, should you lag behind in your class.
  • MOOCs: For all others, there are Massive Open Online Courses that are made for unlimited participation and are often without any charge. All that is needed from the student is his/her enthusiasm to learn. No entrance tests, no interviews, no fees—just a simple sign up on their website and you are good to go.

Holdbacks: As the abbreviation reads, these are meant for the masses. Besides, these courses are largely free, which means they are offered without any certification. Should you be in requirement of professional qualifications, do consider paid modules that suit your time and energy.

CAREER/SCOPE
IN INNOVATION MANAGEMENT:

What really sets this stream apart from others is that it offers students a chance at gaining a comprehensive know-how on business development and various innovation management techniques. So, if breakthroughs in business practices, new services and technologies and market forecasting excite you, then you can very well consider yourself a suitable candidate for getting the right education and giving your career an innovative fillip.

Every business today—big or small—must be creative and imaginative to be able to create a sustainable future. The tried, tested management techniques are rapidly being rendered defunct with changing market dynamics. The verdict is simple—shape up or ship out. To stay in the game, businesses need to change the way they operate. And the new modus operandi is Innovation Management.

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