Innovation, Trends and Opportunities in Business

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1 Short Programmes Innovation, Entrepreneurship and Marketing Immersive learning experiences for unparalleled insight and inspiration

2 Introduction No sector is safe. Rapidly changing technologies, dwindling natural resources and increasingly fierce global competition are combining to disrupt entire industries. Only the innovative and the entrepreneurial will continue to thrive. There can be no better place to sharpen these skills than Imperial. With a century-long tradition of experimentation and discovery within the worlds of science, technology and business, we don t just theorise about innovation and technology we keep them at the heart of everything we do. Harnessing this pioneering spirit, our programmes will build your individual and organisational capacity to implement product, service and process innovations. They ll also hone the entrepreneurial skills you and your company will need for the challenges ahead. This is your chance to be the disruptor, not the disrupted. Contents 04 Managing Customers for Competitive Advantage 06 Marketing in a Digital World 08 Strategic Innovation: Creating Sustainable Growth 10 From Idea to Impact 12 Doing Disruption 14 Our faculty 15 Contact information 2

3 The programme is a great platform to elevate my learning and it has given me incredible insight into our industry. There have been some very powerful messages and tools provided to help me transform the business at the pace required (fast) I also believe the power of the community is unmeasurable and has provided a huge amount of value both personally and professionally. The Impact Lab To think differently, you need to learn differently. Through our immersive Impact Lab approach to Executive Education, you ll be challenged to unpick your current thinking and exposed to bold, new ideas. You ll go way beyond the classroom. Impact Lab is more than an approach. It s a series of expert guest speakers, cultural visits and provocative, interactive experiences designed to test you in unfamiliar environments and scenarios. Take the Performance Simulator at the Royal College of Music. Here, you ll be out on your own delivering a speech or report to a demanding virtual audience. Then there s the Carbon Capture Lab. This simulation will see you split into one of two groups: one on a North Sea oil rig and the other back at the plant on dry land. An alarm goes off and you can only communicate via . With the clock ticking and the pressure mounting, will you and the other team be able to find a solution? How much risk will you take? Maybe you will be exposed to the Inflatable Operations Theatre where you can see surgeons and patients interacting during an operation. Understanding customers can be learnt in very different ways. We choose to take you out of your comfort zone and learn by analogy and through experience in a more dramatic way than anywhere else indeed what a truly customer centric approach is. This is high-impact learning designed to inspire and get you thinking differently. 3

4 Innovation, Entrepreneurship and Marketing Programmes Managing Customers for Competitive Advantage Faculty Omar Merlo Assistant Professor in Marketing The programme The profitability of a firm increasingly depends on its ability to identify, grow, and retain customers. Yet managing customers for competitive advantage remains a poorly understood concept. The Managing Customers for Competitive Advantage programme discusses how to manage customer acquisition and retention for maximum performance, how to think innovatively about creating and sustaining customer value that leads to financial value, and how to build a loyal customer base. The programme offers powerful insights and fresh ideas on how to manage customers for profit, and how to create and maintain customer loyalty over time. Participants examine innovative methods for building customer value and loyalty, ways of nurturing trust and commitment, strategies to enhance customer relations, and ways of communicating effectively with customers. Duration: 2 days Who should attend? Heads of business units, innovation board members and senior executives (whether in a marketing and sales role or not) Business managers and entrepreneurs wishing to broaden their strategic toolkit and looking for new and fresh ideas to improve profitability Sales and customer service professionals Benefits for you Strengthen your customer management skills and further your understanding of a set of powerful ideas about how to manage customers for superior business performance Develop strategies to create, deliver and sustain superior customer value You will leave with a wealth of frameworks and fresh ideas about how to acquire and retain customers Benefits for your organisation Gain competitive advantage and increase financial and shareholder value creation Implement cutting-edge ideas in customer management in your organisation 4

5 Key topics Core ideas of high performance marketing The logic for managing customers for competitive advantage Service quality as the foundation for loyalty Customer management tools and customer behaviour Loyalty strategies When things go wrong The Impact Lab experience The programme is delivered in a very engaging, varied and participative way, with numerous individual and group workshops, reflection exercises, peer learning, and case study discussion There will also be opportunities for experiential and cross disciplinary learning using Imperial s innovative resources, which reflect the Impact Lab approach to learning and thinking differently. 5

6 Innovation, Entrepreneurship and Marketing Programmes Marketing in a Digital World Faculty Omar Merlo Assistant Professor in Marketing The programme The digital economy represents a powerful opportunity to those businesses that understand it and master it. It can shape critical elements of a business strategy, such as its business model and product and service design, as well as tactical elements, such as marketing communications and channel management. While the objectives of effective business strategies may still be the same, the vehicles through which they can be achieved are evolving rapidly. Organisations now have at their disposal powerful new tools such as analytics, display advertising, social media marketing, video marketing, mobile marketing and a plethora of innovative approaches to managing customer relationships. The Marketing in a Digital World programme will examine a set of best practices and cutting-edge ideas pertaining to the business use of these powerful digital marketing tools. Duration: 2 days Who should attend? Mid and upper-level managers responsible for developing and implementing digital marketing campaigns in B2B and B2C companies Professionals who develop or lead digital marketing for their companies or client companies Business managers and entrepreneurs wishing to broaden and deepen their digital marketing skills and toolkit and looking for new and fresh ideas to improve profitability Benefits for you Master the language of digital marketing Identify the opportunities that digital marketing can provide your organisation Strengthen your market management competencies Equip yourself with novel, relevant and powerful ideas about how to compete in the digital economy Benefits for your organisation Shape critical business activities, ranging from business model design to product development, and from communications to customer value creation and engagement Through this programme, your organisation can adapt and capitalise on some of the latest trends, opportunities and ideas in the digital economy 6

7 Key topics Fundamentals of customer management in the digital world Customer value, customer engagement, and customer relationship management in the digital economy Managing customer selection, customer acquisition, reducing churn, and building brand evangelists through digital Digital business model design and revenue models (stickiness, defensibility, scalability) The customer funnel as a measurement tool Managing the brand experience online Digital communication tools, including display, social media marketing, mobile marketing, video marketing, etc Digital distribution tools Digital listening and customer analytics Methods, including growth-hacking, data driven analysis, etc Adopting an entrepreneurial approach to digital marketing, regardless of whether you are a start-up or a large organisation The Impact Lab experience The programme is delivered in a very engaging, varied and participative way, with numerous presentations, individual and group workshops and discussions, and plenty of reflection exercises. Speakers include Imperial College Business School faculty who are actively researching and publishing in the area of digital, as well as highly experienced and senior speakers from industry. There will also be opportunities for experiential and cross disciplinary learning using Imperial s innovative resources, which reflect the Impact Lab approach to learning and thinking differently. 7

8 Innovation, Entrepreneurship and Marketing Programmes Strategic Innovation: Creating Sustainable Growth Faculty Bart Clarysse Chair in Entrepreneurship The programme The overall theme of Strategic Innovation: Creating Sustainable Growth is how to organise your company to diversify into adjacent markets. With many companies facing maturity or stalled growth in their mainstream businesses, the question of how to leverage competencies into new growth areas becomes very pertinent. The starting point is that industries evolve along life cycles and those companies which are able to move first to a new cycle win the market. But how to realise such a move? We zoom in on themes such as the (dis)advantages of corporate incubators, what to expect from lead user projects and upscaling pilots to mainstream businesses. Participants are expected to design an innovation roadmap for their company to facilitate the survival and growth of such innovation projects into new business units. Who should attend? Innovation managers Corporate venture managers Champions of innovation Project managers in business units Research and development staff Benefits for you Insight into strategic industry cycles Insight into business model innovation Skills to lead projects over several budget rounds Insights into innovation upscaling Benefits for your organisation What to expect from long term innovation How to organise the company for strategic innovation Restructuring of innovation process tools to match strategic innovation Development of an innovation roadmap for your organisation Duration: 2 days 8

9 Key topics Industry cycles of innovation Corporate incubation and acceleration Technology and market acquisitions Allocation of resources to long term projects Securing resources for innovation projects CEO attention to corporate innovation Value creation versus revenue generation Lead user experimentation and financial bottom line Upscale lead user findings into mainstream business The Impact Lab experience The programme is delivered as a combination of guest presentations, theoretical models, case studies and experiential learning through peer discussion about a potential innovation roadmap for your company. In the first half of the programme, participants will get insights into the processes and dynamics of strategic innovation. These theoretical insights will be combined with guest presentations and case studies. In the second half of the programme, participants will develop a roadmap to restructure the innovation programme in their own company and will discuss this roadmap among their peers to enhance the experiential learning at the heart of Impact Lab. 9

10 Innovation, Entrepreneurship and Marketing Programmes In partnership with From Idea to Impact Faculty Nick Leon Head of Service Design, Royal College of Art Annabelle Gawer Professor in Digital Economy The programme The From Idea to Impact programme is a unique innovation programme jointly designed and delivered by Imperial College Business School and the Royal College of Art. This immersive 5-day programme is an intensive, hands-on, learning experience that inspires and enables participants to innovate in all functions, including product, process and service, brand, price, and procurement. A unique feature of the programme is that participants are encouraged to join the programme alongside other members of their organisation, to create a cross-functional team. Throughout the programme, participants work in teams to develop a real innovation from an original idea to a concrete, prototypebased, business proposition which will bring value to their organisation. As a participant, you will learn to identify new business opportunities, craft a story around the opportunity, build the right business model around the innovation, navigate the organisational context and negotiate for internal resources, and pitch your innovation in front of a Dragon s Den panel. Duration: 5 days 10

11 Who should attend? Managers from anywhere in the world, in any industry, who aspire to innovate successfully within their organisation and enable teams to innovate You may well have a technical background but that is not essential, as we shall develop innovations in services and processes as well as in products You should join the programme alongside other members of your organisation to create a cross-functional team Benefits for you Learn what it takes to develop an idea into a viable business proposition Confidence that you will leave the programme knowing how to become entrepreneurial within your organisation and to inspire teams and colleagues to innovate with you Interaction and networking with peers from different industries and countries The opportunity to take a step back and learn with peers from other industries Key topics How to identify business opportunities How to design the right business model for your innovation How to negotiate for internal resources to support and develop your innovation Platform innovation and innovative ecosystems Design-thinking and prototyping The Impact Lab experience From Idea to Impact will immerse participants in an innovation experience which reflects the learning approach key to Impact Lab. The programme takes you on an experiential journey, combining an Innovation Safari, Design Jam, intensive preparation workshops, and a Dragon s Den style competition. You will be supported on your journey in a safe environment by top Professors in Innovation and Design, from both Imperial College Business School and The Royal College of Art. Benefits for your organisation The programme offers a focused opportunity to develop promising innovation projects that are directly relevant to your organisation, and to receive input on it from worldclass experts Participants return to work equipped with immediately applicable tools Participants return to work with an enhanced ability to work across organisational silos 11

12 Innovation, Entrepreneurship and Marketing Programmes In partnership with Doing Disruption Faculty Mark Kennedy Associate Professor of Organisational Behaviour and Strategy Lem Lasher Senior Research Advisor, Leading Edge Forum The programme As what many are calling the digital revolution gathers momentum, leaders are increasingly talking about how to deal with disruption. Essentially, this is a new term for creative destruction, the idea that value created by innovative new organisations often enough comes with the destruction of large, well established organisations and markets. What is different today is the pervasive global use of internet technologies fused with innovative new business models, which is characterised by the speed, scope and intensity of disruption across all industries. The Doing Disruption programme, rather than focusing on technologies, will expose the cognitive foundations of disruption and provide practical methods for sensing when disruption is happening and how to respond. Instead of just talking about how to design, spot, and lead disruptions, participants will learn not only how to use practical techniques, but how to teach others and lead disruptive teams. Duration: 2.5 days Who should attend? The programme requires close collaboration between business and technology leaders. We recommend that companies send a group of senior business executives with a cross-functional mix in the roles mentioned below, with a minimum of 2 and maximum of 5. The programme will be a mix of joint and separate sessions based on the profiles and roles of those attending. Participants should be senior executives in a position to formulate and execute strategy, in most cases they will be direct reports to the corporate CEO, and will include the following titles: Business Unit CEO Chief Operating Officer Chief Commercial Officer Head of Sales Chief Marketing Officer Chief Digital Officer Chief Innovation Officer Chief Information Officer Head of Strategy 12

13 Benefits for you You will be provided with the frameworks, models and best practices that can significantly improve your ability to recognise a disruption early, at its emergent stage when it is less of a threat Improve the quality of your decision making in formulating a response to disruption, and assure the execution of strategy is more effective Network with peers from within your organisation, and across industries and cultures Benefits for your organisation The development of a more effective and differentiating strategic response to disruption The opportunity to transfer knowledge back to your organisation Breaking down of silos across your organisation leading to increased efficiencies Key topics Disruptors How did past disruptions arise from cross-market linkages, and how do we use that knowledge to spot tomorrow s changes? What are the frameworks, models and best practices for mitigating the challenges of cognitive blindness and better enable executives recognising these threats earlier? Disruptive analytics How can we know when potential disruptive changes are overhyped versus gathering serious momentum? What are the analytical frameworks and tools available to assess strategic alternatives to respond to a recognized threat? Disruptifiers Who is doing this well, and what can we learn from them? What are the challenges and lessons learned about how to effect a transformational change in the business? The Impact Lab experience Each day of the Doing Disruption programme begins with an interactive introduction of the big picture and moves into a hands-on practicum in which business and technical leaders work together (and apart) on real-world problems that build skill at doing disruption. The programme combines the resources of Imperial College Business School and the Leading Edge Forum to fuse real-world experience with breakthroughs in analytics, strategy, and organisation theory research. These important teaching combinations reflect the Impact Lab philosophy of learning and thinking differently across disciplines. 13

14 Innovation, Entrepreneurship and Marketing Programmes Our faculty Bart Clarysse Chair in Entrepreneurship, Imperial College Business School Bart is the founder of several high tech start-ups in businesses such as digital cinema, mobile internet and venture incubation. He is founding partner and non-executive director of Inceptum, a software investment company. Bart is also an advisor in innovation policy to the Flemish Government, the Belgian Government and European Commission. Annabelle Gawer Professor in Digital Economy, Surrey Business School An award-winning researcher and educator, Annabelle is an expert on digital platforms such as Google or Facebook, and innovative business ecosystems. Annabelle s research on platforms has been featured in The Economist and The Wall Street Journal. Annabelle also directs and teaches in Executive Education programmes in innovation management, and entrepreneurship and growth. Mark Kennedy Associate Professor of Organisational Behaviour and Strategy, Imperial College Business School Mark s research focuses on the emergence of new markets and industries and the more basic building blocks of organising categories, identities, forms, strategies, practices, reputation criteria and so on. Mark s publications have appeared in American Sociological Review, Academy of Management Journal, Organisation Science, and Research in the Sociology of Organisations. Lem Lasher Senior Research Advisor, Leading Edge Forum Lem is Founder & Managing Director: Boehme Eckhart LLC, a Consulting and Advisory firm focused on Digital Strategy and Innovation, and is a Senior Research Advisor to CSC s Leading Edge Forum, a global research and thought leadership community. He is also an Adjunct Professor for Innovation: Imperial College Business School. 14

15 Nick Leon Head of Service Design, Royal College of Art Nick leads Design London; Imperial College s collaboration with the RCA. Design London has brought together the disciplines of design, engineering, technology and business to address the challenges of future innovation. It combines expertise in design, engineering and business innovation from the Royal College of Art and Imperial. Omar Merlo Assistant Professor in Marketing, Imperial College Business School Omar s main teaching, research and consulting interests are in the area of strategic marketing, services, and customer management. Omar has been the recipient of numerous awards for his teaching and research. His research has appeared in a number of academic and professional journals including MIT Sloan Management Review and the European Journal of Marketing. Find out more: Julie Coyne T: +44 (0) E: j.coyne@imperial.ac.uk W: imperial.ac.uk/business-school/ executive-education Follow us on social media: linkedin.com/edu/school?id=42089 instagram.com/imperialbiz/

16 Executive Education Innovation, Entrepreneurship and Marketing Find out more: Julie Coyne T: +44 (0) E: Imperial College Business School South Kensington Campus London SW7 2AZ United Kingdom Disclaimer: While all reasonable efforts have been made to ensure that the information in this publication is correct, matters covered by this publication are subject to change. Imperial College Business School accepts no liability for any loss or damage caused by errors or omissions, howsoever caused. Published December 2015.