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Lingnan University - Department of Marketing & International Business
MScMIB Program, 2
nd
Term 2018-2019
MIB601 Innovation and New Product Development
Instructor
PENG Ling
Office: SEK101/7; Tel: 26168242;
E-mail: [email protected]
Website
All teaching materials will be uploaded to Moodle.
Time & Venue
Thursday 14:00 -17:00 SEK206
Office Hours
Wednesday & Friday 13:30 - 15:30
Brief Course Description
This course provides students with an in-depth understanding of innovation and new
product development using a management framework. It focuses on how to create
value and growth through innovation in new and existing markets. Students will
explore the concepts, methods and tools on how to organize and manage innovation
process with the objective to better control cost and risk, examine the process of
developing new products and many of the new product management issues faced by
companies. Plenty of case studies will be discussed to help students to better
understand the successes and failures in innovation and new product development,
ultimately, to improve the chance of success.
Aims
The primary objective of this course is to prepare students to function as effective
innovation and new product managers. In this course, students will learn to
understand how firms can improve the way they manage their innovation processes to
develop new products and services and keep abreast of the most recent developments
in the innovation field.
Learning Outcomes
On completion of the course, students will be able to:
1. Describe the nature and techniques of innovation and new product development;
2. Discuss and reflect on the role of marketing in different phases of new product
development;
3. Explain the phases and intermediate results in new product development process;
4. Apply theories of innovation to demonstrate the best level of practice in each
problem situation within the context of new product development;
5. Develop and implement a new product strategy for an enterprise.
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Indicative Content
Innovation introduces and explores the concepts of innovation and creativity.
Emphasis is placed on the need to view innovation as a management process. Concepts
and issues include the importance of innovation, the changing views of innovation over
time, models of innovation, the meaning and nature of innovation management, and the
role of creativity in innovation.
New Product Development reviews and summarizes the nature and techniques of new
product development. It looks at the process of developing new products and examines
many of the new product management issues faced by companies during the new
products process: strategic planning for new products and opportunity identification
and selection, concept generation, concept/project evaluation, development and
strategic launch planning.
Teaching Method
A combination of lectures, case studies, videos, live projects and in-class discussions
of the current issues in the new product development area will be employed to
familiarize students with the theories and key concepts of the course. Students are
required to participate actively in class discussion. The course will be taught using
interactive methods and techniques throughout. Students will experience these
facilitation techniques while learning innovation. They will then learn and practice
these techniques so that they can apply them routinely throughout their graduate
experience and beyond.
Measurement of Learning Outcomes:
1. Show & Tell is a group assignment of Internet Exercise. Students in groups are
required to collect information from the websites on the latest news/events of
innovation. Each student group presents their research findings orally as well as
answers questions from student audience. (LO1)
2. Individual Essay requires students to review one recently published academic
article concerning specific concepts and practices in innovation and new product
management. Students need to summarize the key insight(s) that they have learned
from reading the paper and explain how they can apply those concepts, theories
and principles to real innovation and NPD problem situations. (LO4)
3. Group Project requires students in team to stipulate the firm that is developing a
new product idea/concept, spell out an appropriate product innovation charter
(NPD strategy) under which this type of concept might have arisen, conduct a
small-scale concept test, present the testing results and follow up recommendations.
The project is to assess students’ competence level to apply the learnt NPD
concepts and methods to a real business situation. (LO3&5)
4. Final examination assesses students’ grasp on innovation and NPD concepts and
knowledge, as well as the ability to apply them to solve real business problems in
the NPD area. Specifically, it is an open-book exam that requires students to apply
what they have learned to answer essay questions related to two case studies. (LO2
to 5)
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Assessment:
(1) Continuous Assessment as follows 70%
Show & Tell: 15%
Individual Essay: 25%
Group Project: 30%
(2) Final Examination 30%
Total: 100%
Required/Essential Readings:
Crawford, Merle and Anthony Di Benedetto, New Products Management, Eleventh
edition, McGraw-Hill International Edition, 2015.
Recommended/Supplementary Readings:
Ahmed, Pervaiz K. and Charles D. Shepherd, Innovation Management, Prentice Hall,
2010.
Trott, Paul, Innovation Management and New Product Development, Fifth Edition,
Pearson, 2012.
Key academic journals in Innovation and New Product Development
Journal of Product Innovation Management
Journal of Product and Brand Management
International Journal of Innovation Management
European Journal of Innovation Management
Creativity and Innovation Management
Use of Internet Website and Business Magazines
Students are encouraged to scan the following websites/magazines/journals for further
information on the subject of innovation and new product development:
www.pdma.org - PDMA is the premier advocate and comprehensive resource for the
profession of product development and innovation.
www.ideo.com - IDEO is an international design and innovation consultancy founded
in Palo Alto, California, with other offices in San Francisco, Chicago, New York,
Boston, London, Munich and Shanghai. The company helps design products, services,
environments, and digital experiences. IDEO has won more of the
BusinessWeek/IDSA Industrial Design Excellence Awards than any other firm. IDEO
has been ranked in the top 25 most innovative companies by BusinessWeek and does
consulting work for the other 24 companies in the top 25.
Journal of Production Innovation Management - The leading academic journal
devoted to the latest research, theory, and practice in new product and service
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development. JPIM is dedicated to the advancement of management practice in all of
the functions involved in the total process of product innovation. Its purpose is to bring
to managers and students of product innovation the theoretical structures and the
practical techniques that will enable them to operate at the cutting edge of effective
management practice.
Important Notes:
1. Students are expected to spend a total of 9 hours (i.e. 3* hours of class contact and
6* hours of personal study) per week to achieve the course learning outcomes.
2. Students shall be aware of the University regulations about dishonest practice in
course work, tests and examinations, and the possible consequences as stipulated in
the Regulations Governing University Examinations. In particular, plagiarism,
being a kind of dishonest practice, is “the presentation of another person’s work
without proper acknowledgement of the source, including exact phrases, or
summarized ideas, or even footnotes/citations, whether protected by copyright or
not, as the student’s own work”. Students are required to strictly follow university
regulations governing academic integrity and honesty.
3. Students are required to submit writing assignment(s) using Turnitin.
4. To enhance students’ understanding of plagiarism, a mini-course “Online Tutorial
on Plagiarism Awareness” is available on https://pla.ln.edu.hk/.
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Appendix 1: MIB601 Course Schedule (2nd Term, 2018-19)
Time
Readings/Assignments
Jan 10
Show & Tell Group &
Presentation Order
Determined
Jan 17
Jan 24
Jan 31
Ch 2
Chinese New Year Holidays (Feb 2-17)
Feb 7 & 14, Holidays, No Classes; Feb 21, Sports Day, No Class
Feb 28
Student Show & Tell Session
Mar 7
Ch 3
Mar 14
Ch 5
Mar 21
Ch 9
Project Group &
Presentation Order
Determined
Mar 28
Ch 11
Apr 4
Ch 13 & 14 & 15
Apr 11
Ch 16 &17 & 18
Apr 18
Student Project Presentations
Apr 25
Final Exam Briefing