Strategic Innovation Management With a Focus on the Consumer Goods Industry

The consumer goods industry is a fast-moving industry with intense competition where consumers' habits and behaviors change rapidly, leading to the commoditization of products. This requires a strong innovation strategy to be able to identify consumer trends and convert them into a growth platform with the right commercial execution to ensure a quicker path to profitability while maintaining a competitive edge. Big companies with very profitable businesses often struggle to innovate successfully due to (1) a lack of patience, (2) a lack of capabilities, and (3) a misalignment on look of success heavily biased by the success of the established business. This course will focus on developing a robust innovation strategy encompassing the innovation process, execution models, and portfolio management principles to help students learn how to allocate resources to balance short-term and long-term priorities.