This course is part of Gies College of BusinessвЂ™ suite of online programs, including the iMBA and iMSM. Дњritically examine the roles of various players in a business ecosystem Strategize for value capture in a business model Understand key ideas about innovation and product strategy In an interdependent world, fostering an integrated ecosystem is critically important for companies interested in maximizing the odds of innovation success. But well-laid innovation plans can go awry without a consideration of the business ecosystem that includes competitors and collaborators, including suppliers, distributors, and retailers, or the contextual environment in which the company operates. The value proposition has to be embedded in a coherent business model in order to create and capture value.

There are three pillars to a successful product strategy: a clear understanding of (a) the target customers (WHO), (b) the specific elements of the product offering (WHAT) that satisfies consumer needs and dovetails with company capabilities, and (c) the tactical plans to reach end consumers (HOW). Product is an all-encompassing term that includes physical goods, intangible services, and even ideas. Innovation strategy is about creating unique value for consumers by delivering a great product that satisfies their needs.ДЄt the core of a successful innovation strategy is a great product concept.

Tube takeoff academy aws