Nov 23, 2024  
2024-2025 Graduate Academic Catalog-June 
    
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2024-2025 Graduate Academic Catalog-June
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BUS 5950 - New Product Management

3 lecture hours 0 lab hours 3 credits
Course Description
Why are some firms more successful than others at innovating new products? Why do they win more often? What are the best practices of the most successful product innovation firms? This course will allow you to learn about the best practices of phase-gate process firms and agile and lean product development practitioners. New products (innovations) are physical products, processes, software, as well as services. You will conduct an audit of current practices against a backdrop of best practices and develop a continuous improvement plan for innovation. The emphasis will be on creating a hybrid innovation process that fits with a given firm. We will study the innovation process at leading firms like Toyota, Solar Turbines, Embraer, and Ford. The course is structured around research-based professional certification practices. 
Prereq: None
Note: This course is open to qualified undergraduate students.
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
  • Adapt innovation processes for effectiveness and continuous improvement
  • Analyze the effectiveness of innovation processes using relevant metrics
  • Apply innovation best practices to existing new product development processes
  • Apply the principles of the learning organization and knowledge management to innovation
  • Examine the opportunity to improve phase-gate processes using Agile and Lean principles
  • Integrate sustainable innovation practices for long term success of innovation strategy
Prerequisites by Topic
  • None
Course Topics
  • Designing your (innovation) future
  • Innovation strategy
  • Innovation portfolio management
  • Phase-gate process
  • Innovation culture
  • Tools and metrics
  • Role of market research, market research tools
  • Creating the right product
  • Delivering with speed and precision
  • Fixed and flexible (Lean product development)
  • High-performance development teams
  • Leading development
  • Knowledge management for innovation (the learning organization)
  • Pursuit of product perfection
  • Linking strategy to execution: a comparison of Toyota to Tesla
Coordinator
Gene Wright


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