This course addresses the critical role of a firm’s top management in guiding a firm toward more positive innovation outcomes. We specifically focus on the role of executive leadership in developing a firm’s capability for breakthrough innovation—a primary source of sustained competitive advantage and economic growth. We distinguish between what leaders need to do during invention and innovation, and emphasize barriers that hinder established firms’ capabilities to produce breakthrough innovations. We examine how strategic leaders can augment a firm’s ability to “innovate smarter” by better utilizing the diversity of expertise that resides within the organization and within the firm’s partnerships. The concepts we’ll discuss are grounded in decades of research on creativity and technological innovation, as well as strategic management, leadership, and teams. We’ll discuss how strategic leaders apply these concepts today.