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INNOVATION OF PRODUCTS AND SERVICES:

MIT’S APPROACH TO DESIGN THINKING



Winning companies, such as Apple, Virgin, Toyota and others, innovate continuously because of their culture of design thinking – integrating the needs of people, the possibilities of technology and the requirements for business success. In this course, you will learn how to take a similar approach in your own business – blending the perspectives of marketing, design and engineering into a systematic approach to delivering innovation.

As a core part of the course, students participate in a team-based concept development project assignment. This project, focused on opportunity evaluation and concept development, is integrated into all course modules.


At the end of this course, participants will learn to:

  • Understand the design thinking process
  • Identify and assess customer opportunities
  • Generate and evaluate new product and service concepts
  • Design services and customer experiences
  • Evaluate product development economics


Course Highlights

62

Interactive Lectures

4

Real World Applications

9

Discussions

4

Case Study

1

Capstone Assignment



Syllabus

Pre-Work

  • a) Read: Design Thinking by Tim Brown (Harvard Business Review)

Framework

a) Three Innovation Challenges:

  • People Desirability
  • Business Viability
  • Technical Feasibility

b) Example of Three Innovations Challenges:

  • NEST
  • AIRBNB
  • APPLE

c) Design Thinking Skills

d) IDEO’s Systematic Innovation Process

e) How to Rate Ideas

Application

a) Online Tournament – Submit TWO Product, Service or Software Opportunities

b) Applying Three Innovation Challenges Model to Evaluate Your Own Business’ Products/Services

c) Online Tournament: Rate 40 of the Opportunities Submitted

Framework:

  • a) Product Development Process
  • b) Concept Development Process
  • c) User Innovation
  • d) Customer Needs and Markets
  • e) Lead User Example – Utility Light Study
  • f) Latent Needs
  • g) Customer Needs Analysis Process Steps – NEST
  • h) Five Guidelines for Writing Need Statements

Application:

a) Real-World Group Project: Customer Needs Exercise – Determine Latent and Unmet Needs

b) Find an example in your home or office of an innovative product. Upload a photo and explain why you choose it

c) Real-World Group Project: Select the top-ranked ideas of your team and work on the following:

Framework:

  • a) Invention, Innovation and Creativity
  • b) Example: YCC Concept Car
  • c) Great Ideas
  • d) Brainstorming Common Rules
  • e) Research on Brainstorming and Creativity
  • f) Concept Sketches and Sketch Modelling
  • g) Concept Generation Process
  • h) External and Internal Search – Brainstorming
  • i) Concept Generation – Example of Combining Ideas
  • j) Concept of Down Selection

Application:

a) Decompose Project Idea into Key Elements

b) Real-World Group Project: Develop a Solution Concept

Framework:

a) The Difference between Goods and Services

b) Services Innovation at Bank of America

c) Services Experience Cycles

d) Examples of Services Experience Cycle:

  • Movie Theatre Example
  • Zipcar

Application:

a) Decompose the Movie Theatre Example

b) Real-World Group Project:

  • Analysis and Concept Development
  • Map Out the Customer Experience Cycle for Your Project Idea
  • Think of Innovation Opportunities that Stem from that Cycle

Framework:

a) Introduction to Product Development Economics

b) Thought Experiment and Product Development Cash-flow

c) PD Project Financial Marketing

d) NPV and Nespresso Example

e) Nespresso Example:

  • The Numbers for Machines and Capsules
  • Model Uncertainty

f) Spreadsheet Modelling – How much more do we need to sell to recover recycling program?

  • Put several worst cases and see what happen to NPV
  • Put in best cases and see what happens to NPV

g) Debrief on the Above Discussions

Application:

a) Analyze the Nespresso case from a Financial Perspective

b) Exercise: List 5 reasons firms may choose to pursue a product even if the analysis reveals a negative NPV

c) Real-World Group Project: Complete report factoring in any additional financial analysis you have learnt

a) Peer Rating for Project Submission

b) Course Wrap-Up

Benefits to the learner

Intellectual Capital
  • Global IVY Education
  • Rigorous and experiential curriculum
  • World-renowned faculty
  • Globally Connected Classroom: Peer to Peer Learning Circles
  • Action Learning: Learning by Doing
Brand Capital
  • Certificate from EMERITUS in collaboration with Columbia
    Business School
Social Capital
  • Build new networks through peer interaction
  • Benefit from diverse class profiles
Career Capital
  • Professional Acceleration through our enriched leadership toolkit
  • Learn while you earn
  • Get noticed. Get ahead.

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