Crafting Strategies for Innovation Initiatives for Corporate Entrepreneurs

University of Maryland, College Park

This course focuses on enhancing understanding of internal venture organization and overcoming resistance to new venture ideas within a company. It is valuable for employees with creative ideas, managers assembling creative people and resources, technical specialists desiring to be part of an internal venture, and consultants advising companies on internal ventures.

  • Examine a company's internal environment to establish a framework for innovation capabilities.
  • Create a plan for an organizational structure and operational format for internal ventures.
  • Analyze corporate culture to identify creative capabilities leveraging best practices for innovation.
  • Evaluate innovation portfolios and compose strategies aligned with implementation potential.

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Crafting Strategies for Innovation Initiatives for Corporate Entrepreneurs
Course Modules

This course includes modules focusing on Innovation Environments and Capabilities, Organizational Structures and Operational Formats, Corporate Culture, and Creating an Innovation Strategy, providing comprehensive insight into launching and growing internal ventures within a company.

Innovation Environments and Capabilities

This module provides insight into innovation environments and capabilities, including types of innovations, ways companies innovate, and the influence of technology uncertainty. It also covers associating skills of innovators and recommended reading on innovation success stories.

Organizational Structures and Operational Formats

Explore organizational structures and operational formats for internal ventures, evaluating innovation ideas and roles of creative and implementation players. It also delves into different organizational forms for innovation venture units and assembling internal venture teams.

Corporate Culture

This module focuses on how corporate culture influences innovation and creativity, enabling innovation through knowledge management, benchmarking, and innovation tournaments. It also involves an internal venture feasibility test.

Creating an Innovation Strategy

Learn about innovation managers' survival, disruptive innovations, blue ocean strategy, lead user contribution to innovation strategy, and open innovation as an entrepreneurial strategy. It also includes a summary of key concepts and a roadmap for launching an internal corporate venture.

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