Value innovation is the simultaneous pursuit of differentiation and low cost.
Value innovation is the simultaneous pursuit of differentiation and low cost. Value innovation focuses on making the competition irrelevant by creating a leap of value for buyers and for the company, thereby opening up new and uncontested market space. Because value to buyers comes from the offering’s utility minus its price, and because value to the company is generated from the offering’s price minus its cost, value innovation is achieved only when the whole system of utility, price and cost is aligned The purpose of the course is to give the participants an understanding of how methods and tools to develop products, based on a value view, may be used. Participants will gain knowledge in project set-up, project charter, voice of the customer, value analysis, concept creation, verification and presentation. The course is focused on carrying out a product development project with value focus. By carrying out real team based projects in a collaborative mode the student will have the chance to reflect upon acquired theoretical base and apply this in a real setting. The experience will render the student a good position to enter into the work life.
After completion of the course the student will be able to:
- Perform needs analysis
- Develop and evaluate concepts on value contribution
- Make value adding prototype solutions
- Work effectively in team based setting
- Perform value analysis
- Value innovation
- Value modeling
- Opportunity recognition
- Customer value
- Value creation
- Team management
- Customer needs assessment
- Value process
Learning & Teaching
Course focus is to give the participant knowledge to perform and carry out value driven development projects with focus on innovation. Through lectures, workshops, team exercises and project work, students will gain an understanding of value innovation. Participants work in groups, going from needs to finished product (or prototype) in close collaboration with industry with the aim to gain understanding and experience of todays and tomorrows ways of working in value driven markets. Students will complete assignments on group basis, and will share his/her learning with others through his/her written documents, group work and presentations. The course will be provided in English.
Course responsible and examiner
Professor Tobias C. Larsson