Innovation Management I

llsms2040  2023-2024  Louvain-la-Neuve

Innovation Management I
5.00 credits
30.0 h
This course is reserved for students with a bachelor's degree in business engineering or students with equivalent quantitative method skills.
Main themes
The objective of this class is to introduce the main conceptual frameworks, analytical tools and issues related to the management of innovation and its implications, in particular regarding new ventures.
We also address some key implications of innovation management regarding opportunity identification, assessment and implementation.
Finally, we also introduce students to the challenges of consensus-based decision-making in uncertain and ambiguous environments
Learning outcomes

At the end of this learning unit, the student is able to :

1 Having regard to the LO of the programme, this activity contributes to the development and acquisition of the following LO:
  • Innovation and entrepreneurship
  • Knowledge and reasoning
  • Project management
  • Communication and interpersonal skills
  • Corporate citizenship
At the end of this course, the student will be able
  • to master the key concepts, issues and managerial implications related
  • to managing organizations in innovation-intensive environments.
Class structure:
1. Build a shared vision of innovation
1.1. Why it matters: innovation management capabilities (out of scope – LSMS 2116)
1.2. Innovation as a business: more than creativity
1.3. Innovation as a process: beyond ideation
1.4. Innovation typology: more than new products
1.5. Innovation strategies: beyond new product development (out of scope – LSMS 2116)
1.6. Drivers of innovation strategies: beyond hype (out of scope – LSMS 2116)
2. Manage entrepreneurial ecosystems (out of scope – LSMS 2043)
3. Identify attractive innovation opportunities
3.1. Identify the sources of innovations – beyond R&D
3.2. Foster organizational learning – beyond ideation
3.3. Harvest and protect organizational knowledge assets (out of scope – LSMS 2041 and LSMF2011)
3.4. Integrate external sources of knowledge
4. Develop a balanced portfolio of business models
4.1. Business model design – asking the right questions
4.2. Designing competitive business models – why and what
4.3. Mobilizing the right resources – who and how much
4.4. Valuating innovative business models – quantifying the unquantifiable
4.5. Building a consistent and balanced innovation portfolio
5. Implementation: fail fast and win big
5.1. Nimble execution: learn cheaply and adapt quickly
5.2. Lean development - more brain, less storming
5.3. Smart money - funding innovation projects (out of scope – LSMS 2043)
Teaching methods
The pedagogical methods used include lectures, case study and testimonials, pre-readings  and student presentations
Evaluation methods
Evaluation criteria
  • Ability to present the concepts addressed during the class (“Maîtriser les savoirs”)
  • Ability to explain and present in a rigorous way those concepts (“Appliquer une démarche scientifique”)
  • Ability to illustrate in a relevant and fact-based way the concepts through (among others) the testimonies and the case studies presented in the class. (“Communiquer”)
  • Ability to understand the key implications and limitations of the concepts, in the context of the class subject (“Innover et entreprendre”)
  • Ability to understand the key implications and limitations of the concepts, in the context of management in general (“Se développer”)
  • Ability to criticize, develop or complement the concepts in a relevant and original way.
Continuous evaluation
  • No (See LSMS 2042)
Evaluation week
  • Oral: No
  • Written: No
  • Unavailability or comments: No
Examination session (January)
  • Oral: 3 Students/hour
  • Written: No
  • Unavailability or comments: Teacher-run schedule
Comments: Compulsory attendance for group workshops and corporate testimonials
Students who fail the January exam can have a second chance in September (oral exam or written work if student is abroad)
Other information
This class is coupled with LSMS 2042 Innovation Management II
Online resources
Reference book: Navigating Innovation (Palgrave, 2018)

Recommended readings:
  • Tidd J., Bessant D. (2018) Managing Innovation: Integrating Technological, Market and Organizational Change, 6th Edition, Wiley
  • Berkun, S (2007) The myths of innovation, O'Reilly
  • Schilling M.A. (2006) Strategic Management of Technological Innovation, McGraw-Hill
  • Robertson, D. (2014) Brick by brick: How Lego rewrote the rules of innovation, RH
Extended bibliography available through class material and online resources
Teaching materials
  • Class presentations available on Moodle
Faculty or entity

Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Learning outcomes
Master [120] : Business Engineering

Master [120] : Business Engineering