Digital Innovation Strategy & Management 

Gain the comprehensive resources needed to incorporate digital capabilities and solutions into your company’s DNA, ultimately supporting a more resilient, proactive organization that leverages technology-driven innovation for growth.

A company’s ability to be agile, nimble, and digitally responsive was tested on a massive scale with the global pandemic. Organizations that rose to meet these challenges were digitally mature companies that pivoted quickly. These companies benefited from platforms, tools, and frameworks that allowed them to adapt efficiently and effectively. And as the dust settles on the first wave of disruption and knowing what’s on the horizon, executives are auditing their organization’s digital strengths and weaknesses to move ahead.

This program provides the strategic tools to become a technology-centric organization that infuses digital capabilities into its operating, customer, and business models to achieve sustainable growth. Participants will gain the frameworks to infuse technology advancements into the heart of their company and explore successful business models that drive innovation. What’s more, attendees will learn to embrace data and be less timid of artificial intelligence, thus allowing new ideas to emerge and a deeper understanding of your customers. Ultimately, you’ll increase your company’s ability to adapt to changing customer demands, make faster, more impactful data-driven decisions, and help build an organizational culture that drives innovation through digital transformation.

 

Location

Chicago Booth, Gleacher Center, Chicago, IL

This program is designed for mid- to senior-level executives who seek to take their organization to a new level by launching bold, new innovation strategies enabled by digital transformation. The program benefits a wide range of industries and company sizes, including digital and non-digital sectors. Companies facing significant threats from disruption will find benefit in attending as well.

Job titles and functions include: Senior leaders, business owners, managing directors, regional directors, and those in the fields of business development, innovation, digital, R&D, and operations.

Randall S. Kroszner

Norman R. Bobins Professor of Economics

Randall S. Kroszner is the Norman R. Bobins Professor of Economics. Dr. Kroszner served as a Governor of the Federal Reserve System from 2006 until 2009. He chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. In these capacities, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards. He represented the Federal Reserve Board on the Financial Stability Forum (now called the Financial Stability Board), the Basel Committee on Banking Supervision, and the Central Bank Governors of the American Continent and was a director of NeighborWorks America. Dr. Kroszner chaired the working party of the Organization for Economic Cooperation and Development (OECD), composed of deputy central bank governors and finance ministers, on Policies for the Promotion of Better International Payments Equilibrium. As a member of the Fed Board, he was also a voting member of the Federal Open Market Committee.

From 2001 to 2003, Dr. Kroszner was a member of the President’s Council of Economic Advisers (CEA). He was involved in formulating policy on a wide range of issues, including responses to corporate governance scandals, government-sponsored enterprise reform, pension reform, terrorism risk insurance, tax reform, currency crisis management, sovereign debt restructuring, the role of the International Monetary Fund (IMF), and international trade and development.

Since 1990, Dr. Kroszner has taught at the University of Chicago Booth School of Business. Dr. Kroszner was Director of the George J. Stigler Center for the Study of the Economy and the State. He served as editor of the Journal of Law & Economics and has been associate editor of a number of other academic and policy journals. He was a member of the board of directors at the National Association for Business Economics and the Financial Management Association.

Dr. Kroszner serves as the Chair of the Financial Research Advisory Committee of the Office of Financial Research of the U.S. Treasury. He is a member of the Federal Reserve Bank of Chicago’s Academic Advisory Council and of the board of advisors of the Paulson Institute. In addition, he is a Research Associate of the National Bureau of Economic Research. He is member of the board of trustees of the Chicago Symphony Orchestra and a member of the board of directors of the Renaissance Society.

Dr. Kroszner has been a visiting scholar at the Securities and Exchange Commission, the IMF, the Stockholm School of Economics, the Stockholm University, the Free University of Berlin, Germany, the London School of Economics, and the American Enterprise Institute. He was the John M. Olin Visiting Fellow in Law and Economics at the University of Chicago Law School the Bertil Danielson Visiting Professor of Banking and Finance at the Stockholm School of Economics, and the SK Chaired Visiting Professor at Yonsei University, Seoul, Korea.

His research interests include regulation of financial institutions, international financial crises, the Great Depression, monetary economics, corporate governance, debt restructuring and bankruptcy, and political economy. His paper on managerial stock ownership (with Clifford Holderness and Dennis Sheehan) won the Brattle Prize for best corporate finance paper in the Journal of Finance. His book co-authored with Nobel laureate Robert J. Shiller, Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank (MIT Press) appeared on the Washington Post’s Book World political best sellers list.

Dr. Kroszner is a frequent commentator in the international media. He provides advice to financial institutions, government organizations, and central banks throughout the world.

Lindsey Lyman

Clinical Assistant Professor of Entrepreneurship

Lindsey Lyman is the founder of Growth Studios, an innovation consultancy that helps companies build profitable new businesses. Through her work as a practitioner, Lindsey also helps executives become stronger innovation leaders and helps organizations build innovation capabilities. She consults with leading design firms, consulting firms, large and small companies, and entrepreneurs to identify unique growth opportunities and to build commercially viable new products, services, and business models.

Prior to founding Growth Studios, Lindsey spent 10 years at McKinsey & Company, where she helped build McKinsey's global innovation practice and co-developed McKinsey's Innovation Executive Education program. At McKinsey, Lindsey served Global Fortune 100 Asian, European, and North American clients on innovation topics ranging from large-scale innovation transformations, to embedding capabilities in user-centered design and product development. Lindsey currently serves as an External Advisor to McKinsey, focused on Product Development and Innovation.

Lindsey has a deep passion for teaching and coaching, which translates to her work both in the classroom and in the field.

Lindsey holds an MBA from The University of Chicago Booth School of Business, where she graduated with highest distinction.

Sanjog Misra

Charles H. Kellstadt Professor of Marketing

Sanjog Misra is the Charles H. Kellstadt Professor of Marketing at the University of Chicago Booth School of Business. His research focuses on the use of machine learning, deep learning and structural econometric methods to study consumer and firm decisions. In particular, his research involves building data-driven models aimed at understanding how consumers make choices and investigating firm decisions pertaining to pricing, targeting and salesforce management issues. More broadly, Professor Misra is interested in the development of scalable algorithms, calibrated on large-scale data, and the implementation of such algorithms in real world decision environments.

Professor Misra's research has been published in the Econometrica, The Journal of Marketing Research, The Journal of Political Economy, Marketing Science, Quantitative Marketing and Economics, the Journal of Law and Economics, among others. He has served as the co-editor of Quantitative Marketing and Economics and as area editor at Management Science, the Journal of Business and Economic Statistics, Marketing Science, Quantitative Marketing and Economics, the International Journal of Research in Marketing and the Journal of Marketing Research.

Misra is actively involved in partnering with firms in his research and has worked as an advisor to a number of companies such as Transunion, Oath, Verizon, Eli Lilly, Adventis, Mercer Consulting, Sprint, MGM, Bausch & Lomb, Xerox Corporation and Ziprecruiter with the aim of helping them design efficient, analytics-based, management systems that result in better decisions. He currently serves as an advisor to startups in the marketing technology, measurement and AI space. At Booth Professor Misra teaches courses on Algorithmic Marketing. These courses bring his practical and research expertise in the algorithmic marketing domain into the classroom. He is hopeful that these classes will get students ready for the next evolution of marketing that he believes is already underway.

Prior to joining Booth, Misra was Professor of Marketing at UCLA Anderson School of Management and Professor at the Simon School of Business at the University of Rochester. In addition he has been visiting faculty at the Johnson School of Management at Cornell University and the Graduate School of Business at Stanford University.

Robert C Wolcott

ADJUNCT PROFESSOR OF ENTREPRENEURSHIP

Wolcott is Adjunct Professor of Entrepreneurship at Booth. Additionally, he is Adjunct Professor in Executive Education at the Kellogg School of Management, Northwestern University and formerly a visiting professor at the Keio Business School (Japan). Wolcott won Teacher of the Year from Kellogg's EMBA program in 2013, 2014, 2015 and 2017. He serves on the advisory board for the Open Innovation Lab of Norway; H-Farm, the leading digital innovation ecosystem in Italy. Wolcott is also a managing partner with Clareo, an innovation strategy consultancy serving senior executives at global corporations such as Exelon, BHP, Griffith Foods, Zurich Insurance, Owens Corning and others.

Wolcott is a regular contributor to Forbes regarding the impact of technology change on business, leadership and society. His book with Dr. Michael Lippitz, Grow From Within: Mastering Corporate Entrepreneurship and Innovation (McGraw-Hill, 2010) shares a decade of research and has been published in Chinese and Japanese. Wolcott's work has appeared in MIT Sloan Management Review, strategy+business, The Harvard Business Review, TheHill.com, Quartz.com, The Wall Street Journal, Advertising Age, Business Week, The Financial Times (European Edition), The New York Times and numerous overseas publications. He is a frequent speaker at events worldwide.

In 2003, Wolcott founded the Kellogg Innovation Network (KIN), a network of senior executives dedicated to driving sustainable innovation, now an independent organization known as The World Innovation Network (TWIN). TWIN's annual summit, TWIN Global, takes place in late Spring and includes leaders from around the world who collaborate around issues of significance for their organizations and for humanity. Wolcott is also an active angel investor in enterprises such as crowd funding leader Indiegogo, student loan innovator Lumni, legal documentation platform Page Vault, healthcare data and analytics providers SA Ignite and Clearcare Online (exited to Battery Ventures in 2016), cyber security provider MagicCube and international art exposition EXPO Chicago.

Wolcott received a BA, European and Chinese History; and an MS and Ph.D., Industrial Engineering & Management Science, Northwestern University.

GLOBAL TRENDS SHAPING BUSINESS: MANAGING MACRO RISKS
Inflation, recession, sanctions, supply chain disruptions, technological innovation, labor fluctuations, changing regulation, and climate change will continue to upend traditional frameworks and place new demands on leaders. While these macro shocks are outside of any executive’s direct control, leaders nonetheless need to manage these risks. In this session, you'll examine disruptive global macro trends and develop a strategic risk management framework to build a resilient organization prepared for such macro risks.

DIGITAL INNOVATION STRATEGY AND FORESIGHT
Examine how organizations perform in the present by leveraging digital capabilities for competitive advantage, and how companies will thrive (or fail to) in the future. You’ll discover how digital technologies impact every industry ecosystem, from raw materials to end users. What’s more, you’ll be introduced the Innovation Radar— a strategic framework to think systemically regarding innovation, uncovering opportunities, and winning the long-term innovation game.

MAKING INNOVATION HAPPEN: STRUCTURE, PROCESS, CULTURE AND LEADERSHIP
This session examines the frameworks of quantifiable and successful innovation models and review models of successful corporate entrepreneurship. You’ll explore the essential roles of senior leadership in enabling innovation and gaining an understanding of how leaders at all levels can advance an organization’s innovation agenda.

FIND YOUR BLIND SPOTS
Radical innovation requires leaders to question the many orthodoxies that often guide their organization and industry. The consequence of not questioning leaves organizations sub-optimized for growth or, even worse, vulnerable to disruption. However, the ability to see alternative realities can be stiffed by traditional management practices and fundamental brain neuroscience. In this session, you’ll explore tools to help identify and question these orthodoxies to establish a stronger foundation for innovation.

INNOVATING UNDER UNCERTAINTY
Innovation invites risk, and traditional tools and management practices are typically insufficient for making decisions in the absence of reliable data, which in turn slows innovation. This session provides a framework and tools for executing innovation when data is incomplete or unreliable. In this session, you'll explore how entrepreneurs approach innovative business building in contrast to corporate managers. Ultimately, you will learn how to remove management and decision-making barriers to move forward in the face of risk.

ARTIFICIAL INTELLIGENCE AND NEW ANALYTICAL METHODS
With advances in machine learning, AI, and other analytical methods, businesses can predict KPI results, but even more importantly, understand the mechanisms that generate them. As a result, companies that leverage analytics for greater market intelligence and scalable decision making will find themselves ahead of the competition. This session provides a practical understanding of analytical methods and how you can use these tools to increase revenue, growth, and make better decisions.

What participants say about Digital Innovation programs with Professor Wolcott:

 

“Professor Wolcott has an excellent command of the subject matter and I enjoyed his high energy teaching style. Professor Wolcott helped to demystify the digital space, and built bridges between innovation and strategy in the digital era.”

—Marty Proctor, President & CEO, Seven Generations Energy


“Great, thought provoking content...Rob [Wolcott] did a great job describing the underlying models and theory and then using a practical example to illustrate. This created an environment of thoughtful questions and discussion.”

—Steve Hammock, Senior VP Growth and Strategy, Chugach Government Solutions, LLC


“Professor Wolcott was able to provide very useful and objective ways of approaching an abstract problem like Digital Innovation.”

—Ashish Ranjan, Global Client Partner, Wipro Technologies


“Professor Wolcott delivers an outstanding course [with] practical innovation knowledge, not just theoretical.”
“[I had] so many takeaways; I found the program incredibly valuable.”

Upcoming Courses

Date Fee Format
May 8-12, 2023 $12,500 In-Person Register Now
November 6-10, 2023 $12,500 In-Person Register Now