New Innovation Management School to help companies drive growth through innovation
Raleigh, NC, and Arlington, VA, Oct. 10, 2006 - Growth through new products and services is dominating discussions in board rooms around the world, but understanding how to innovate can be a difficult and complex problem for companies of all sizes, says Paul Mugge, director of the Center for Innovation Management Studies (CIMS) at North Carolina State University’s College of Management.
“Many managers today may be better at and more comfortable with controlling costs than creating innovative products that fuel top-line growth,” he said. Recognizing that, CIMS and the Industrial Research Institute (IRI) today announced the launch of the Innovation Management School, a team-based executive development program that will prepare senior technical and middle managers for a Masters Certificate in Innovation Management. “Unlike other individual development programs, the IMS targets cross-functional teams that work on real projects deemed important to top management," Mugge said.
The curriculum, which takes approximately 12 months to complete, includes specialized tracks in three major areas of innovation: product, process and service. Each track includes a flexible series of two and a half-day education modules that will be taught through a combination of on-site and distance learning. Companies can enter the curriculum at various points based on their business strategy and current innovation management proficiency. The IMS will initially be available to IRI member companies, but will be expanded to other companies as interest in the curriculum grows.
The IRI is an association of innovative companies founded by the National Research Council in 1938. Its purpose is to enhance technological innovation in industry through education, networking and the dissemination of knowledge. IRI members include most of the leading global companies known for leadership in innovation.
Instructors for the IMS will be drawn from CIMS’ national network of leading innovation management faculty.
“CIMS is a virtual research center,” Mugge said. “Our network includes over 100 management scientists focused on advancing the knowledge of ‘how to’ conceive of, design and deliver attractive, new market offerings.”
The IMS curriculum is based on CIMS’ “Innovation Management Framework: A Model for Managers Who Want to Grow Their Businesses.”
“This collaboration between IRI and CIMS creates a valuable resource for the innovation and industrial research community, said Edward Bernstein, IRI president. “The IMS brings together the latest academic research of CIMS and the cutting edge practices of leading R&D managers to create a powerful tool for industry. I’m very excited to be able to offer this opportunity to IRI members.”
“The IMS addresses a vital, growing need in the business community,” said Ira R. Weiss, dean of the NC State College of Management. “Today’s highly competitive, global environment requires managers who can tap and grow the innovation that exists within their organizations, down to the business unit level. The faculty at NC State and CIMS’ other partner universities have accumulated a wealth of knowledge in this field. This new partnership will make that knowledge available to companies that want to advance through innovation.
The IMS will be managed through the Executive Programs office at NC State’s College of Management. For additional information, contact Russell Thomas, Executive Programs’ development manager.