Effective Innovation

3 Credits: Business Management & Organization


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Effective Innovation

Course Level
CPE Credits

3 Credits: Business Management & Organization

Course Description

Innovation is one of the great value-creation tools in the modern corporation, but it is also quite difficult to implement properly. In many cases, organizations invest vast amounts of time and money in innovation, and yet do not generate commensurate returns. In the Effective Innovation course, we discuss innovation strategy, the various types of innovation, how to create an environment more conducive to innovation, the management of advanced research, innovation metrics, and much more.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the different types of innovation strategies.
  • Specify the outcomes to focus on when engaged in strategic experiments.
  • Cite the advantages and disadvantages of both closed and open innovation systems.
  • Specify the actions to take when trying to innovate in a fluid environment.
  • Describe the characteristics of a successful innovator.
  • Recognize the techniques used to improve an incremental innovation campaign.
  • Specify the fundamental issues of product design.
  • Recognize the steps that management can take to improve an internal crowdsourcing system.
  • Specify the alternatives available for accessing the talent in cities, as well as the advantages and disadvantages of each one.
  • Recognize the situations in which a collaborative community might be useful, and its characteristics.
  • Specify the methods available for improving the success rate for an innovation rollout.
  • Recognize the negative effects of issuing too many innovations.
  • Identify the conceptual issues that apply to the measurement of innovation.
  • Identify the situations to which each of the innovation metrics discussed would be most applicable.
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Course Specifics

Course ID
Revision Date
March 8, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …