0323 - Innovation: The Path to Market Dominance

Course Description

Change is accelerating and we don’t know what’s in the future, we must innovate to prepare for change and to make change. This is even more relevant and true today, after the pandemic, than at any time in the past. Computer scientist Alan Kay said: “the best way to predict the future is to invent it.”

It’s imperative for small business to be able to innovate and create competitive advantages over bigger and more established companies. We need to innovate, at all levels and in all industries, to meet customer needs, establish new markets, grow by taking advantage of opportunities, attract the best talent and for business survival.

Course Outline

• On Innovation
  • Definition of Innovation
  • Why Innovate - Benefits & Examples
  • Evolution of Innovation - History & Practice
  • Types of Innovation
• Innovation Theories Covered
  • Design Thinking-human centered approach to innovation
  • Systematic Inventive Thinking (SIT)
  • Three Box Innovation-Strategy Is Innovation (SII)
• Innovation Results & Examples
• Q & A

Learner Outcomes

Attendees will have an understanding of the value of innovation in small business development. You will be able to:

• Understand innovation as it relates to your business, growth and sustainability
• Learn three innovation strategies that are ideal for small businesses
• Help choose and implement an innovation strategy that best suits your business and capabilities

Notes

A Public Service and Outreach Unit of the University of Georgia. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All programs of the UGA SBDC are open to the public on a non-discriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.