MBA Business Innovation and Strategy

Business Innovation & Strategy

“Not everybody can be an inventor, creator or discoverer. But everyone has the ability to see things differently. Everybody can be an innovator.”

This new and innovative program is created to prepare students to create value and then manage it in today’s globalized competitive environment. It aims to prepare students who can

• Identify new opportunities,
• Catalyze development and positioning of new products and services and launch them in the market
• Make it profitable by successfully deploying new business models.

This program will impart to the student the confidence and leadership to operate in a new world and to make a difference to the world.

In a recent IBM survey, 1,500 CEOs identified creativity as the number one leadership competency of the future. This program will prepare students to handle ambiguity and complexity with ease and will develop their mindset to think creatively, realistically, and optimistically about the future.

"Businesspeople don't need to understand designers better. They need to be designers," says Roger Martin, dean of the Rotman School of Management at the University of Toronto. In his book A Whole New Mind: Why Right-Brainers Will Rule the Future, Daniel H. Pink argues: "Design is a high-concept aptitude that is difficult to outsource or automate—and that increasingly confers a competitive advantage in business."

Innovation is the new currency of success. Innovation is the key to survival and profitability in a rapidly evolving, complex and hypercompetitive global business environment. Innovation is an imperative for any business today. Innovation is all about making new and better things, as well as making things new and better.

UK Design Council terms innovation as an act of conceiving new products or services that satisfy market needs and uniquely differentiate your offering. Innovation is the process of turning opportunity into new ideas and putting those into widely used practice (Tidd, Bessant&Pravitt). Innovation is the means by which entrepreneurs exploit change as an opportunity for a different business or service (Peter Drucker). For Jeffery Immelt, CEO of GE - Creativity and imagination applied in a business context is innovation. In summary Innovation is about exploitation of new market opportunities and new ideas.

This program prepares the students to lead innovation and manage innovation within an organization. Innovation is not only about technology or new products. It touches all functions of an organization be it internal or external functions and accordingly the program covers different operational aspects with a lens of innovation. The program aspires to influence with an innovative mindset,young and curious minds who will then lead India’s journey of becoming a stable and flourishing economy.

The program is grounded in the business needs of current and future times and addresses this with a combination of theory and practice imparted in a practical environment through renowned faculty, noted business innovators, illustrious guest faculty and networking with business associations and chambers.

The program teaches how to think creatively, how to conceive new products and services, and how to manage your innovations. The program teaches the role of creativity in business decisions, how innovation really works, and why design is so important to corporate management today.

The curriculum addresses what is now the hottest area of demand in corporations across the world: managers who can manage creativity, not just processes. As companies shift their focus beyond quality and efficiency towards innovation, demand for managers who understand ‘right-brain’ creativity is soaring. Managing organizations is important,but managing creativity is the must-have skill for today’s managers. In any business today, creativity and innovation are vital in meeting everyday needs of consumers.

With core focus on business innovation and strategy, the program incorporates elements such as new product development, new service development, business model creation, business strategy, user research, market research, brand strategy, project management and leadership. This knowledge is imparted through emerging and proven tools, frameworks and approaches.

The program adopts a triad of thinking approaches in delivery of the curriculum. The triad is based around design thinking to envision new products and services, systems thinking to manage the day-to-day operations of a company and process thinking to guide diverse operational processes within an organization. The adoption of triad ensures that our students are not only instrumental in spurring innovation but are equally adept at leading and managing operational efficiencies.

At the end of the program, our students will be able to move between abstractand concrete worlds easily. The program curriculum gives equal importance to analysis and synthesis. Students will learn to create choices and then make the best choice within the available choices. They will be able to engage in concrete experience and abstract conceptualization, reflective observation and active experimentation. Instead of seeing the world as it is today, our students will be able to imagine how it should be.

Our students will emerge from the program with knowledge, skills and mindset to turn ideas into action. They will be innovation leaders with an in-depth understanding of the innovation cycle, processes, techniques and tools. They will be agents of transformation for any organization they work in and will be able to deliver breakthrough innovation solutions.