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

Duration and Course Fees

  • Starts 01 Nov 2017
  • 2 Months
  • 2 - 4 hours per week
  • Course Fees USD 1400
 

Faculty

Steve D. Eppinger

General Motors LGO Professor of Management

Course Highlights

  • 62Interactive Lectures
  • 4Case Studies
  • 4Real World Applications
  • 1Capstone Project
  • 9Discussions

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:

– Opportunity Evaluation and Concept Development

– Identify Needs for Your Project Idea

– Receive Reviews by Other Team Members

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

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

Brand Capital

  • Certificate from EMERITUS in collaboration with MIT Sloan

Social-Capital

Social Capital

  • Build new networks through peer
    interaction
  • Benefit from diverse class profiles

Career-Capital

Career Capital

  • Professional Acceleration through
    our enriched leadership toolkit
  • Learn while you earn
  • Get noticed. Get ahead.

Duration and Course Fee

  • Starts 01 Nov 2017
  • 2 Months
  • 2 – 4 hours per week
  • Course Fees USD 1400

Faculty


Steve D. Eppinger
General Motors LGO Professor of Management

Duration and Course Fees

  • Starts 01 Nov 2017
  • 2 Months
  • 2 - 4 hours per week
  • Course Fees USD 1400
 

Faculty

Steve D. Eppinger

General Motors LGO Professor of Management

Other Programs

Global Ivy Emeritus Institute of Management