On March 20, students of the Innovation Management course, taught by Professor Paulo Figueiredo in EBAPE's undergraduate course in Administration, participated of the Strategic Innovation Simulation (of Harvard Business School Publishing). In this exercise, students are placed in a company's CEO position and need to make decisions related to investments in technological innovations over a period of eight years.
During the simulation, students managed one dilemma increasingly faced by corporate executives: either remain with the comfortable and profitable core business, or migrate to a new technology that can ensure growth and long-term competitiveness for the company.
In Professor Paulo Figueiredo's opinion, the goal of the exercise is to show students the complexity of managing the innovation process. "This is a process full of variables, and for this reason it is uncertain, costly, and provides plenty of asymmetry in the market. The simulation shows how to deal with the "existing technology and new technology" dilemma in practice. How can you take advantage of the existing technology and not be confined to it, as happened with Kodak, which exacerbated an existing technology and failed to invest in new technologies," he said.
Patricia Burgos Fernandez, an exchange student from the University of Amsterdam, and Gabriel Sena de Souza, a student of the 7th semester of EBAPE/FGV's Administration course, obtained the best results in terms of cumulative profits from innovations and ranked the 1st and 2nd places, respectively. Both won a trophy for the successful simulation. In Patricia's opinion, the experience was very interesting and innovative.
"I've never participated in an activity like this before. It was a unique experience in FGV, which through its excellent professors, offers a sense of the importance of innovation within organizations," she said.