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MBA Track – Innovation and New Venture Management

MBA Track – Innovation and New Venture Management.

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MBA Track – Innovation and New Venture Management

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  1. MBA Track – Innovation and New Venture Management Effective managers need to have the skills to anticipate, develop, and implement new products and business models to be successful. This track is designed to develop professionals who can understand the development and management of innovation in terms of market-driven and technology-driven new products. You will have an opportunity to: * Learn to research the needs and wants of end-users for innovation * Understand the role of information technology in innovative business models * Focus on the management of change that is so integrally linked with innovation in organizations AND/OR * Learn financial tools required for development of a new venture that manages it. Required: MK689 New Products Marketing OM676 Developing and Managing Technology Electives (Choose Two): FN680 Financial Tools for Business Development and Risk Management MK696 Marketing Research Methods OM680 Strategic Project Management SB613 Entrepreneurship and New Venture Creation

  2. Why Innovation is Becoming More Important • Technology is changing fast, new products come from new competitors • Fast changing environment, product lifecycles are shorter so there is a need to replace products sooner • Products are increasingly difficult to differentiate • Customers are more sophisticated, segmented and demanding, and expect more in terms of newness, quality and price • Customers have more choice • With markets and technologies changing fast, and good ideas quickly copied, there is continual pressure to devise new and better products and services faster • Adapted from johnstark.com

  3. Innovation and New Venture Management Track This track provides opportunities to: • Build skills to anticipate, develop, and implement new products and business models • Help to learn about the development and management of innovation in terms of market-driven and technology-driven new products • Develop skills for researching the needs and wants of end-users for innovation • Learn financial tools required for development of a new venture • Understand and execute the 'entrepreneurial process’; a sequence of activities related to the creation of a new venture • Learn the tools for management of new projects from initiation to implementation to termination

  4. Innovation and New Venture Management Track Types of Jobs Students Seek: Consulting New Product Development and/or Management Marketing Management Market Research Sales Entrepreneurship or Self-Employment Opportunities

  5. Innovation and New Venture Management Track Recruiting Companies: Accenture IBM Saint-Gobain Schindler Elevator Knowledge Systems and Research (KS&R) Stanley Works Nestle And Many Others

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