Digital Innovation Management

Introduction

Digital innovation is the creation of business processes and market offerings that result from the use of digital technology. Digital innovation therefore has two main parts: The use of digital technology during the practice and process of innovation, and the description, fully or partly, of the outcome of innovation whether this is a market or a service offering.

Innovation is the creation of new value and is based on new ideas and technologies or on the combination of known ideas and technologies. An innovation is something new that is both useful and adopted by users or customers, while an invention is simply something new. The value of an innovation can be economic or non-economic. The nature of innovation is currently at a transition point because of the digital revolution.

The course presents value proposition and business model design, as well as tools to assess the potential impact of digital market offerings. The course looks at lean startup design, iterative digital innovation, and alignment of digital initiatives with society and external stakeholders. As part of the course, students meet digital change-makers, both in startup businesses, in established yet adapting industries, as well as policy makers.

To decide on launching an innovation to the market or to users, the organization needs this: To understand the business and value aspects of the innovation; To be able to model and analyze these aspects; To be able to communicate the results of digital innovations both internally and externally. Hence organizations need digital communication management to succeed with digital innovations.

The main goal of the course is to evaluate a current digital innovation or develop a new one, as well as to develop the value of the innovation by applying one or more business model perspectives. To reach this goal, the examination in the course consists of writing a paper that apply a business model perspective to initiate or strengthen a digital innovation.

Course content

1. General introduction to innovation and change
2. Business model innovation for companies doing digital transformation
3. Developing the business plan – the journey from theory to practice