Undergraduate students simulate the practice of innovation management
The students of the Innovation Management subject, taught by Professor Paulo N. Figueiredo, in the Undergraduate Course in Business Administration of FGV’s Brazilian School of Public and Business Administration (EBAPE), simulated, on March 26, through a digital platform, an innovation process at the business level.
These practices include decisions about resource allocation in innovative activities such as process engineering and research & development (R&D), as well as pricing and sales estimates for different product lines to maximize cumulative profit.
These decisions are made by students (who play the role of managers) in a context in which the company needs to derive maximum benefits from its existing technology while exploiting breakthrough technologies.
Thus, students are exposed to a problem in which they are required to manage the dilemma faced by various managers of innovative organizations: staying in the core business, comfortable and profitable, or migrating to a new technology that can ensure long-term growth and competitiveness for the company.
This simulation draws the attention of students to the development of a perspective that considers innovation not only as an immediate source of profit, but also a perennial source of sustainable and responsible growth of organizations.
According to Professor Paulo N. Figueiredo, the purpose of the simulations and related activities in his course is to bring the students as close as possible to the practice of the innovation process. It is a process that involves several variables and multiple knowledge bases, besides being uncertain and expensive.