MSc Innovation Management

1. MSc Innovation Management Ed Nijssen / Hans Berends

2. School of Industrial Engineering MASTER Specialization BACHELOR Foundations

3. Product Development as Business Process • Sequence of controllable activities: idea generation, feasibility testing, development, launch • Key performance measures: • Product and market performance • Time (time-to-market, timing of product launch) • Costs

4. Challenges for NPD as Business Process • Only 1 in N new product ideassucceeds • Why? • Uncertaintyconcerning product, technology and market • Successfollowsafter setbacks, detours, iterations, learning • Integratingfunctions and departments is difficult (R&D, marketing, manufacturing, procurementetc) • Developingradicalnewproducts is hard due to lack of willingness to cannibalizeinvestments, routines, sales • Trends • Shortening product lifecycles • Crowdsourcing • Managing externalcollaborations • Increasedinterrelatedness of products, services & business models

5. closed innovation The Market Science & Technology Base Research Development New Products/ Services open innovation Open Market Licensing Techn. Spin-Offs New Market Internal Technology Base Current Market External Technology Base Technology Insourcing Current Developments: Open Innovation Source: Henry Chesbrough (2003)

6. MSc IM: Final Qualifications • Academic knowledge of design, characteristics, and performance of innovation processes in technology-intensive and knowledge-intensive organizations • Skills to analyse and redesign business processes to improve innovation performance of firms • Communication and cooperation skills to perform in a multidisciplinary context • Ability to apply knowledge and skills in academia, industry and consultancy

7. MSc IM: Program Structure (1) • Program characteristics: • All coursesconducted in English • Core courses: 8 x 5 = 40 ECTS • Core content and methodology • Electives: 40 ECTS • 3 suggested sets of electives • Master Thesis Preparation (10 ECTS), Thesis work: (30 ECTS) www.tue.nl/masterprograms/im

8. Semester 4 Semester 3 Electives Semester 2 Semester 1 MSc IM: Program Structure (2) Master Thesis Thesis Preparation Specialisation Courses International Term Core Courses

9. Core Courses • New Product Development (ITEM) • Marketing & Innovation (ITEM) • Project & Process Management (OPAC & ITEM) • Human Aspects of Product Development (HPM) • Philosophy of Management Science (AW) • Research Design, Data Collection and Analysis (ITEM & HPM) • Design Science Methodology (ITEM) • System Dynamics (OPAC & ITEM)

10. Three Optional Tracks • New Product Development Management • Knowledge Processes & Management (ITEM) • Human Performance in Innovative Organizations (HPM) • Strategy & Technology management (ITEM) • Product Life Cycle Management (IS) • Service Engineering & Marketing (ITEM / OPAC) • Open Innovation • Innovation Networks (TIW) • E-Business Architectures & Systems (IS) • Strategic Sourcing & Supply Management (ITEM) • Strategy & Technology Managament (ITEM) • Innovation & Intellectual property (TIW) • Governing Innovation (TIW) • Technology Commercialization & Entrepreneurship • Technology Entrepreneurship (ITEM) • Entrepreneurial Finance (ITEM) • Service Engineering & Marketing (ITEM / OPAC) • Selling New Products (ITEM / OPAC) • Innovation & Intellectual Property (TIW) • Entrepreneurial Marketing (ITEM)

11. Mentor system • Potential mentors in ITEM, IS, and HPM • Select mentor at last one year before start of the Msc Thesis Project (at the end of the first semester!) • Allocation through application; give preference for mentor • Virtual market open during block C and F • Role of mentor: • assistance with composition of study program • advise on study • assistance with selection and preparation of thesis topic and thesis proposal (and company if needed) • supervision of thesis project

12. Examples of thesis areas and subjects • Strategic Alliances • network relationships between a research lab and technology suppliers • Entrepreneurship • success or failures of technopreneurs • Knowledge Management • managing knowledge in a product development lab • Marketing • launch of radical new products in the marketplace • Service requirements after speeding up NPD processes • New Product Development • possibilities to reduce lead time in innovation projects • Supplier involvement • NPD in the relationship between a hi-tech company and three key suppliers

13. Options within MSc IM • Semester abroad • for students with standard program (no deficiencies) • Certificate in Technology Entrepreneurship • http://w3.tue.nl/en/the_university/entrepreneurship/student/master/ • Pre-doctorate certificate • for students with objective to start PhD • extra modules at PhD level, provide exemptions in PhD program • only after admission by admission board • with thesis project conducted on theoretical topic

14. Professional Perspectives • Industry (& service) • R&D/New Product Development • Staff member in R&D • Projectleader, innovation manager, director of technology • Strategy, alliances, intellectual property • Marketing side of innovation • Consultancy • Innovation processes • Broad range of business engineering topics • Other, including: • Intermediairies (e.g. Syntens) • Entrepreneurship • Phd

15. Innovation Management: rated highest • Innovation Management is rated highest by students on the aspects of ‘content, skills, career preparation, examinations and assessment’. Bron: Keuzegids masters 2011

16. Final comments • Multidisciplinary and focused program • Contributionsfrom ITEM, IS, HPM, and OPAC • The journalTechnovation (2007) listedourfaculty’s research in Technology& Innovation Management in the top 5 worldwide • Enrollmentthatallowsforpersonal contact and interactivelearning • MSc IM enrollsapprox. 60-70 studentsannually

17. More information: http://onderwijs.ieis.tue.nl/en/ie/im

18. Innovation Management @ TU/e- a student’s perspective- P.W. Polman (Pim) p.w.polman@student.tue.nl

19. Content • Introduction • Why IM? • My experiences • My study build-up • A common week summarized • Conclusions • Q&A Feel free to ask questions during the presentation!

20. Introduction • 2nd year master student IM • Bachelor TBK @ TU/e (generation 2005) • Current study status: • Wrapping up last courses • Preparing for graduation phase

21. Why IM? • Initial reason to study TBK was its wide perspective • In retrospect: maybe too broad to start working • Continue studying! • Alternatives to choose from: • Full master abroad • Different university in NL • Stay in Eindhoven • already settled • 2 years of education • Technical University • in line with my interests

22. My experiences • Intensive • Master-level (no free credit courses, but not much more difficult) • Group/project work (almost each course, usually 50% of final grade) • Focus • Multiple themes (still relatively broad due to mandatory courses) • Specialisation through thesis & (restricted) electives • Lesser role for mathematics & statistics • Articles are the main source of knowledge • Fun & Rewarding • More challenging projects • More interesting topics • Better grades • General • Planning is VERY important (for AB courses & international semester) • Large number of elective courses means lots of freedom • Overall quality of master program is good

23. My study build-up

24. A common week summarized For 5 courses: • 4-5 lecture sessions (2 hours each) • 3-4 group work sessions (3 hours each) • 5-6 individual work sessions (2 hours each) • Totals 27-34 productive hours, so 6-7 hours per course

25. Conclusion • Choose for IM when you: • Are interested in the topics of strategic innovation, marketing, new product development, knowledge management or entrepreneurship • Enjoy working in teams on projects • Prefer explanation using literature over calculation • Are willing to read lots of articles • For more info on courses see: • http://onderwijs.ieis.tue.nl/en/ie/master-im/1/all/courses-msc-im-and-oml-2010-2011 • pollweb • current master students (very valuable)

26. Questions