Protecting Business Innovations via Strategy

Go to Course: https://www.coursera.org/learn/protect-business-innovations-strategy

Introduction

### Course Review: Protecting Business Innovations via Strategy In a rapidly evolving business environment, protecting innovations is paramount for companies striving to maintain their competitive edge. “**Protecting Business Innovations via Strategy**,” which is available on Coursera, offers a comprehensive examination of strategies that can safeguard innovations in the absence of direct intellectual property protections such as trademarks, patents, and copyrights. #### Course Overview This course delves into the multifaceted ways businesses can leverage strategic thinking to protect their innovations. The primary focus is on understanding the limitations and strengths of strategic protection, providing invaluable insights for business managers aiming to cultivate an innovative and sustainable business model. The course outlines several strategic approaches, including resource-based strategies, agility in small firms, e-commerce tactics, and innovative pricing strategies. With a blend of case studies and lectures, participants can engage with practical examples that bring these strategies to life. #### Syllabus Breakdown 1. **Resource-Based Strategy** In this section, learners explore how businesses can create a “virtual fortress” using their varied resources to thwart competitors from replicating innovations. The course examines crucial elements like economies of scale, network effects, and access to unique resources, guiding students on establishing competitive barriers that can protect innovations over time. 2. **Move Fast or Get Passed** This module emphasizes the nimbleness of smaller firms amidst giants like Google and Amazon. It discusses how speed and flexibility can serve as powerful barriers to competition, equipping students with insights on how to capitalize on rapid innovation to create sustainable advantages in the marketplace. 3. **E-Commerce Strategy** Understanding the nuances of e-commerce is essential in today’s global market. This segment highlights the unique challenges posed by conflicting regulations and the enforcement difficulties in the e-commerce landscape, particularly for large enterprises versus smaller players. The lessons learned here are crucial for businesses that aim to thrive in an interconnected world. 4. **Changing the Rules** Creative pricing strategies are examined in this module, revealing how companies can rethink their approach to price versus cost/value to enhance shareholder value and competitive advantage. Participants will learn how innovative thinking in pricing and strategic acquisitions can lead to increased revenues and create barriers to imitation. #### Course Effectiveness What sets “Protecting Business Innovations via Strategy” apart is its practical approach. By integrating theory with real-world examples, the course empowers managers to apply the concepts learned directly to their own business challenges. Whether you are a small start-up looking to fend off larger competitors or part of a well-established firm aiming to refine your innovation strategy, this course offers relevant takeaways for all organizational levels. #### Recommendation I wholeheartedly recommend “Protecting Business Innovations via Strategy” for business professionals, managers, and entrepreneurs who are keen to enhance their strategic toolkit. The insights gained will be invaluable in navigating the complex landscape of innovation protection. By understanding and implementing these strategies, businesses can develop a robust approach to safeguarding their innovations against competitors. This course is an excellent investment for anyone serious about achieving and maintaining a competitive edge in their industry. Join today and take the first step in transforming your innovation protection strategy! For further details, you can watch the [Course Overview on YouTube](https://youtu.be/mUja4iwbrTE).

Syllabus

Resource based Strategy

How could we use a variety of resources within a business to create a virtual fortress to prevent other firms from copying our innovations. Using a combination of case examples and lectures, we will examine the role of economies of scale, network externalities, access to customers, access to raw materials or other resources and unique knowledge to create competitive barriers.

Small firms that lack resources of giants can create barriers by being faster and more flexible. Some large firms (i.e. Google & Amazon) also seek to use rapid innovation and change to create sustainable barriers to being copied.

Strategy for online global business is different from that of traditional businesses. The combination of overlapping and conflicting regulations and laws and inability to enforce laws against small companies (e.g. mice) makes the world of e-commerce especially challenging for large global enterprises (e.g. elephants). Assumptions about contracts and commitments may also be invalid in some global e-commerce contexts.

An important opportunity for companies to maximize shareholder value and gain competitive advantage is creative pricing. By thinking differently about price vs cost/value, some firms have been able to dramatically increase revenues and profitability for products with strong market acceptance. Changing the rules can also apply to strategic acquisitions or industry restructuring through innovation to create competitive advantage and barriers to copying innovations.