Course Objectives 

ENGM 625
Innovation and Commercialization



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Mail S. Kellogg



Module 1 Objectives
Module 2 Objectives

Bus Plan  Objectives







Module 1 Objectives:

Identify Opportunities
  1. Be able to describe and discuss the product development process. 
  2. Be able to describe and discuss the opportunity identification process and how it relates to the product development process.   
  3. Be able to list and discuss approaches/sources for identifying market needs and opportunities.
  4. Be able to list some of the current social/cultural trends and how those trends might influence the opportunity identification.  
  5. Once an opportunity is identified discuss how that opportunity is to be evaluated within the context of the business, industry, and market base.  
  6. Be able to identify the primary risks associated with a new technology venture and strategies one can take to minimize those risks.

 Competitive Advantage / Innovation

  1. Be able to describe and discuss the process for building a competitive advantage.
  2. Be able to define and discuss what is meant by 
    • the value proposition.
    • the business model
    • core competencies
  3. Be able to list and discuss the advantages / disadvantages for being the first mover or fast follower in the market place.
  4. Be able to describe the creativity process for developing a new technology / innovation.
  5. List and discuss the four steps to achieving a favorable technology innovation.  

Innovation Engineereing

  1. Be able to describe what is meant by the stimulus response model.  
  2. Be able to give an example of using customer problem to develop a product/service solution.
  3. Be able to describe what is meant by benefit promise and be able to give examples.,

Risk / Product Design

  1. Know what is meant by the scale, scope, economies of scale, and network economies in an industry or firm.  
  2. Be able to describe what is meant by usability of a product or innovation.
  3. Be able to describe what is meant by a disruptive application and what implications it might have on an industry.

 



Module 2 Objectives:

Corporate Technology Ventures 

  1. Be able to list / discuss the types of business ventures an existing firm might consider and when they might be appropriate.  
    Be able to list and briefly describe the four major types of coporate cultures.
    Know what is meant by a Vanguard company and be able to give an example.
  2. Business Plans  

    1. Be able to identify and discuss the key elements of a business plan.
    2. Know the reasons why some business plans fail.

    Marketing Plans

    1. Be able to list and discuss the key elements of a marketing plan.
    2. Be able to describe what is meant by
      • Product positioning
      • Product offering
      • Unique Selling Proposition
    3. Know what is meant by the marketing mix.
    4. Know what is meant by the chasm in the diffusion of technology innovations and how firms might be able to cross the chasm.  

    Finance Plans 

    1. Given a balance sheet and an income statement, be able to calculate the change in the cash flow for a firm.
    2. Given a sales projection, be able to compute a pro-forma cash collections.
    3. Given a sales projection, be able to compute a pro-forma production budget.  
    4. Given a production schedule, be able to compute a pro-forma material budget.
    5. Given a production schedule, be able to compute a pro-forma labor budget.
    6. Given a production schedule, be able to compute a pro-forma overhead budget.

     Intellectual Property

    1. Be able to describe the protection rights under 
      • Patents
      • Trademarks
      • Copyrights
      • Trade Secrets
    2. Know the differences between utility, design, and plant patents.

     Business Organization

    1. Know the difference between effectiveness and efficiency and which is more applicable to a new enterprise.
    2. Know the four types of organizational culture and when they might be appropriate.
    3. Be able to describe a functional, project, or matrix organizational form.
    4. Know what is meant by social capital and how one might retain good talent.

    Sources of Capital

    1. Be able to list the funding stages, the sources of funding might be available for each stage, and the advantages/disadvantages of each.
    2. Know what is meant by bootstrapping and be able to list the advantages and disadvantages of this form of financing.
    3. Be able to describe what is meant by angel investors and be able to list their criteria for investing in new enterprises.
    4. Know the investment requirements for a venture capitalist.
    5. Be able to list/describe the functions of a venture capitalist.  
    6. Given appropriate sales and cash flow projections, be able to do a valuation analysis.
    7. Know the 5 C's for debt equity financing.
    8. Be able to describe what is meant by financial leverage in debt equity financing.
    9. Be able to list the advantages/disadvantages for an IPO.

    Business Plan Objectives: