About the Curriculum

Designed with working professionals in mind, the Master of Science in Innovation Management & Entrepreneurship curriculum provides flexibility and opportunities for customization. Choose how you learn (in-person or online); chart your own completion pathway (full-time or part-time); and personalize your degree to your interests by pursuing one of three specialization tracks. It’s the degree that flexes to fit your life and goals, so you can focus on developing your ideas into invoices.

Courses in Our Program

See the course topics that will expand your ability to lead innovation. You’ll begin with core program courses to help you set a solid groundwork of knowledge, and then enhance your experience in one area of interest by pursuing a specialization track. With very few courses needing pre-requisites, you’ll have the ability to take classes in just about any order you desire.

Core Courses

We all face an innovation imperative—innovate or die. Innovation fuels our ability to be competitive, both on a corporate level and on a personal one. However, innovation remains elusive to many organizations and individuals. Shift your perspectives and behaviors as you learn a set of creativity tools to apply to real-world innovation challenges. This course delves deep into critical creativity topics like problem formulation, divergent thinking techniques, idea evaluation and convergent thinking, evolving ideas to increase impact and feasibility, and championing your ideas to find acceptance.

A business model describes how an organization creates and captures value, and business model innovations now count among the most significant sources of industry disruption. This course uses the business model canvas methodology as well as the strategic revolution and blue ocean strategy approaches to generate rule-breaking business models. Building on this foundation, this course will also explore theories of innovation characteristics, adoption, and diffusion to provide practical advice and techniques for finding first customers, implementing innovative ideas, and driving acceptance by modifying your products, services, and business model.

Whether you are interested in being a high-performing employee, a manager within an organization, an innovator, or a successful entrepreneur, understanding the core business principles of strategy and management is critical to helping you achieve your goals. This course will provide an overview of traditional as well as cutting-edge, innovation-focused perspectives and tools including: industry and stakeholder analysis, competitive advantage, business models, profitability, organizational design, and the evolving roles of managers and leaders. This is an introductory course for anyone without formal business training or education. It is utilized as an introductory course in a number of certificates and masters programs and can help individuals considering whether or not a Fox graduate degree is interesting or appropriate for them. This course is required for IME MS students that do not have prior business degrees.

Innovation Strategy Specialization Track

Learn innovation-based strategies as a source of competitive advantage as well as how to build and design agile/adaptive organizations that excel at innovation. Major topics within this course include understanding how disruptive innovations impact industries, designing an organization that encourages innovation and embraces change, balancing performance and innovation demands, and organizing to take advantage of various sources of innovation. In addition, you will be exposed to a number of cutting-edge topics relevant to next-generation strategy: global R&D and emerging market innovation, organizational learning and knowledge management, and open innovation approaches that engage both your customer base as well as your value system to innovate and create unparalleled value.

It is said that competition is no longer company-vs-company but business ecosystem against business ecosystem. Unbridled advances in technology, connectedness, globalization, and fragmentation of value chains across industries have transformed the relationship between companies, customers, partners, and competitors. Increasingly, the knowledge and specialization required by firms to produce new products, gain new resources including strategic intelligence, and to place bets across nascent markets resides outside of firms’ boundaries. To be successful in this context, firms—from established industry giants to entrepreneurial new ventures—must build comprehensive open innovation strategies that engage and mobilize external stakeholders to productive and innovative ends. This course addresses the distinct challenges and opportunities posed by the confluence of digital community (i.e., “the crowd”), powerful and expanding data gathering and analytics, and the ambiguous boundaries of successful modern firms.

Almost all firms want to be more innovative but few succeed at profiting from their innovations. This course trains students in approaches to strategically manage an innovation or technology-focused organization or consultancy. Developing ‘intelligence’ in a domain requires accessing relevant information, analyzing it using appropriate approaches, and making informed strategic decisions based on your analysis. Develop the tools and perspectives that are critical to strategically plan, coordinate, and make decisions relevant to innovation, research and development (R&D), and technology or new product development. You will also learn to systematically assess R&D technology trends and risks, scout for development opportunities, identify technology and product leaders and uncover their strategies, protect and leverage your portfolio of technologies, and build a coherent innovation plan that aligns with your organization’s strategy.

Technology & Innovation Management Specialization Track

Almost all firms want to be more innovative but few succeed at profiting from their innovations. This course trains students in approaches to strategically manage an innovation or technology-focused organization or consultancy. Developing ‘intelligence’ in a domain requires accessing relevant information, analyzing it using appropriate approaches, and making informed strategic decisions based on your analysis. Develop the tools and perspectives that are critical to strategically plan, coordinate, and make decisions relevant to innovation, research and development (R&D), and technology or new product development. You will also learn to systematically assess R&D technology trends and risks, scout for development opportunities, identify technology and product leaders and uncover their strategies, protect and leverage your portfolio of technologies, and build a coherent innovation plan that aligns with your organization’s strategy.

Gain insight into the technological, customer, and management issues that must be considered when developing new products or technologies. Learn to understand and apply a number of analytical, decision-making, management, and planning tools that can be used to guide the development of new products and services from idea to the marketplace, and prepare to take the certification exam for the Product Development Management Association (PDMA) New Product Development Professional (NPDP) Certification. This course is relevant for students who would like to more systematically manage and execute their own innovative ideas as well as those who wish to lead new venture, new product development, and research and development processes and groups.

The Lean Startup or Lean Launchpad methodology has transformed the way that entrepreneurship is taught and practiced—and has even changed how the most innovative organizations in the world invent new products and services or reinvent themselves via innovation. In this experiential, hands-on course, you will learn the ‘customer-development’ approach that serves as a counterpoint to traditional ‘product development’ undertaken in most organizations. Immerse yourself in the iterative build-measure-learn process and discover creative approaches to accelerate the process. You’ll also learn how to more systematically identify and test assumptions to make decisions to pivot, proceed, or restart based on customer insights and evidence gathered.

Entrepreneurship Specialization Track

Prepare to “think big” and “think outside the box” to create and recognize opportunities, whether you’re an aspiring entrepreneur bent on launching new businesses or a manager bent on growing profitable businesses. Examine the concepts, skills and know-how, information, attitudes and alternatives that are relevant not only for entrepreneurs engaged in start-up and early-stage ventures but managers of new ventures within established organizations and relevant stakeholders as well. Discover the key aspects of new venture creation process, where you can look for new opportunities, how to evaluate an opportunity, how to structure a deal, and more.

The Lean Startup or Lean Launchpad methodology has transformed the way that entrepreneurship is taught and practiced—and has even changed how the most innovative organizations in the world invent new products and services or reinvent themselves via innovation. In this experiential, hands-on course, you will learn the ‘customer-development’ approach that serves as a counterpoint to traditional ‘product development’ undertaken in most organizations. Immerse yourself in the iterative build-measure-learn process and discover creative approaches to accelerate the process. You’ll also learn how to more systematically identify and test assumptions to make decisions to pivot, proceed, or restart based on customer insights and evidence gathered.

Your ‘pitch’ or investor presentation is a critical phase in the entrepreneurial process, and you should not underestimate how important it is to the success or failure of your company. The investor presentation is unlike any other business presentation you’ve done: investors are a most demanding and impatient audience. It’s a fact that many companies that truly deserve to be funded don’t get funded because they can’t communicate what they have well enough to engage investors. In this course, discover how to position and present your venture or concept so that it has the greatest chance to be funded.

Timeline & Schedule

Program Start

Fall semester (August) or Spring semester (January)

Course Times

Students in the program may take courses in-person, online, or through a hybrid format that alternates face-to-face and online classes; students may choose whichever suits their needs best and may mix and match course formats throughout the program. In-person and hybrid courses are delivered once a week on Monday – Thursday evenings from 6 – 9 pm. Fully online courses are delivered on Thursdays from 8 – 10 pm ET.

Program Duration

This 30-credit program is designed with flexibility—all hybrid and in-person courses run during fall and spring semesters, and online courses run during fall, spring, and summer semesters. Full-time students may complete the program in just one year, with the flexibility to take up to 16 months. Part-time students may complete the program in as few as two years or take up to six.

Dual Degree Options Available

Fox MBA students with any concentration may pursue the Master of Science in Innovation Management & Entrepreneurship at a reduced number of credit hours; up to 15 credits may apply across both programs. The dual degree option must be declared prior to graduation. Consult an adviser following program enrollment for more information.