Assignment On Innovation In Management
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Added on 2019-09-25
Assignment On Innovation In Management
Added on 2019-09-25
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ASSIGNMENT1IntroductionManagement innovation is the call of an hour that changes the methodology of the managers to improve the organizational performance. The suitable application of innovation management improves the employee engagement along with the customer satisfaction. Innovation could be categorized as incremental, breakthrough or disruptive. Incremental innovation implies to the company that continuously needs to recreate itself, by which the firm flourish by frequently improving their current products, services and processes. A breakthrough innovation is a technical improvement to lift the service or product level, in the popular category, ahead of its competitors. The disruptive innovations are the adaptive concepts that can drastically vary market behavior after implementation.
ASSIGNMENT2Technology StrategyEven though the basic idea of technology strategy surfaced since the late 1970s but it has been just a section of management technology literature, and there is still a lot of discussion regarding the definition of it. Technology strategy could be briefly defined as the choice of objectives, principles and tactics that any firm practices to address technical threats and prospects from its external environment. The projects choices which an organization needs to apply is the functional face of a technology strategy. A strategy can be determined by selecting the projects and their portfolios. The primary purpose of technology strategy is to direct a company in obtaining, applying and emerging technology to produce modest advantage. Additionally, implementation is also an important aspect of technology strategy. Pre-determined efficiency level does not categorize technologies. Such level of operational efficiency is achieved by technology dependent efforts by a business to integrate and adapt tooutfit its precise necessities. Substance of Technology StrategyProduct and Process DevelopmentProduct development, is synonymous withproduct management which includes series of activities that an organization employs in the complicated process of delivering new products(Gmelin and Seuring, 2014). A method that recognizes the market prospect and alters it into a saleable is described as Product development. Technology strategy can also be ratified through exploiting technologyin the product development.
ASSIGNMENT3It is entirely a decision of a products firms whether the technology would be driving the product development (basically technology push) and / or market expansion would push the development of technology (basically market pull). There are a number of technologies that drive the product development. To develop new products firms infuse technology either by bundling or disruptive technologies. In bundling technologies, businesses associate the diverse product line components into bundles. Essential, and occasionally segmental or architectural innovations, position the disruptive technologies. Process of bringing new products into the market is defined as new product development (NPD). There are various stages of NPD process that are being widely recognized through the use of different information technologies like software for desktops and different web-based applications. It is, however, essential for embedding the technology into the people’s work and processes to fully exploit and reap its benefit.To produce some output every action/ route in the chain utilizes certain technology to pool human resources and raw materials/machineries. Technology deployment in the value chain would allow a business to exploit the technical abilities in processes (Llera et al., 2013). For example, a firm can adopt enterprise resource planning (ERP) systems through the value chain (logistics, marketing, operations, sales & distribution) not just expand its portfolio and fixed resources revenue but also lead to efficient sales, distribution and marketing. The businesses improve its efficiency through organizing, aligning and integrating the processes of an organization with the value chain of the customer, the business and its extended network through the customer relationship management (CRM) value chain (Chan, 2005).Various value chain processes uses information technology to improve the process performance when it is not only deliberately associated to the firm’s business plan. IT’s
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