Contents
The course introduces the learners to new product development, its stages, and decisions related to the process. New product development is often seen as a strategy for growth. There are varying definitions of what constitutes a ‘new’ or a ‘successful’ product. The course touches upon innovation management and focuses on future product development in a context, where, for instance, climate change and pollution related to current production and consumption patterns must be taken into consideration. Firms are forced to address such issues through, for instance, product innovation. The course topics will therefore touch upon the business of circular economy for creating sustainable business. In addition, while many firms rely on in-house product development, it becomes increasingly important to innovate and conduct research and development activities together with customers and consumers, a perspective that will be investigated further during the course. The course will tentatively rely on the following themes:
- Innovation management and new product development
- Product innovation as a growth strategy
- Models and stages of product development
- Product innovation for circular economy and sustainable business
- Customer co-creation of products
- Starting a venture based on product innovation
Learning goals:
After a completed course, the student can
- Apply relevant models and concepts to a product innovation case
- Examine circular economy designs for product innovation under resource constraints
- Analyze and design how to manage product innovation in entrepreneurial settings