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Innovation is a powerful means of competitive differentiation, enabling firms to be successful in the marketplace. At the same time, innovation activities are conducted in a highly competitive environment. Against this background, innovation must be skillfully managed in order to be successful and to create innovation-based competitive advantages. This module provides students with a set of tools and concepts that will enable them to participate in, and manage, value creation through innovation. Students are introduced to different tools, concepts, and frameworks that help companies to develop strategies for their innovation activities, to benefit from different sources of innovation, and to capture value from their innovation activities. Students apply these frameworks and tools to real-world business cases and discuss the implications for companies’ innovation activities.
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