IMM 1100 FOUNDATIONS OF INNOVATION (3 credits)
This course explains the value and importance of innovation and its role in a competitive global economy. Provides an introduction to the principles and concepts of innovation and the role of innovation in society in general. Describes basic skills and elements of the innovation process, then reviews the theoretical bases and models of innovation processes, as well as case studies of relevant innovations in business. Students will learn about science- and technology-based “megatrends” and identify areas attractive to them to practice innovation. Basic knowledge of physics, chemistry and biology will be covered, allowing students to comprehend the innovations brought by nano-science, biotechnology and new materials scientific fields. The students will be exposed to the discovery-driven planning, which is a practical tool that acknowledges the difference between planning for a new venture and planning for a more conventional line of business. In addition, students will participate in design challenges, learn from failure, value diverse perspectives in approaching problems and generate ideas that demonstrate both incremental and radical inventiveness.
IMM 3050 DEMOGRAPHIC DATA MINING (3 credits)
This course is a continuation and expansion of concepts covered in statistics classes using demographic databases for business applications. It explores advanced sources of demographic data, measures and methods to analyze the levels and changes of demographic settings. It considers applications of demographic techniques in marketing, management and in business forecasting. It provides practical case study-based experience in applying demographic knowledge and methods. It includes hypothesis testing of proportions, means and variances of one and two populations, including matched pairs, correlation, simple linear regression, chi-square tests and multiple regression.
Prerequisite: MTH 2310
IMM 3200 INNOVATION PROCESSES (3 credits)
This course covers incremental and disruptive innovations, consumer behavior and market growth trends. Students are challenged to identify areas where innovations can be lucrative, and they will develop their own innovation using web/patent searching software. The projects will stimulate creative thinking and teach students how to extract concepts from relevant technical content. Students will appreciate the process necessary to quickly conceive and validate the ideas and to become competent project leaders. The course provides basic knowledge of financial evaluation of the new product, culminating with a rudimentary individual business plan evaluation report for the student’s innovation.
Prerequisite: IMM 1100
IMM 3990 INNOVATION INTERNSHIP (3 credits)
The internship (400 hours of paid employment) is designed to provide the student with supervised on-the-job training. A contract between the University, student and employer provides the groundwork. Objectives, evaluations, a written log and a study of the organization are designed to provide a realistic learning experience.
Prerequisites: Faculty approval and 60 credit hours completed
IMM 4110 IDEAS TO MARKETS PROJECT I (3 credits)
A project team-based cohort course in which the idea of the product/application can be generated by the students, by an external company or by an organization. The project may focus on an idea, a redesign of an existing product, a new product or a new application for an existing product. Specific objectives for each team will be assigned by the instructor in consultation with the project teams. This class will focus on collecting and analyzing data, creating a physical or conceptual prototype and preparation of a marketing plan.
Prerequisites: IMM 3200, MKT 4230 and MKT 4240
IMM 4210 IDEAS TO MARKETS PROJECT II (3 credits)
Continuation of project team-based cohort course in which the idea of the product/application can be generated by the students, by an external company or by an organization. The project and specific objectives for each team will have already been assigned by the instructor in IMM 4110. This class will focus on designing the product/application and identifying financial, manufacturing, distribution and promotion channels through the development of a three-year rudimentary business plan. The students will gain experience in multiple phases of the commercialization of innovation.
Prerequisite: IMM 4110