Ask a question from expert
Management Innovation | Assignment
10 Pages2648 Words256 Views
Added on 2019-10-18
Management Innovation | Assignment
Added on 2019-10-18
BookmarkShareRelated Documents
1.0Introduction Management innovation alters the method of the work of the managers, this is done inorder to improve the organizational performance. With the suitable application ofinnovation management, it could enhance in employee engagement and customersatisfaction. Incremental, breakthrough or disruptive is also a part of Innovation.Incremental implies to a company which needs to always recreate themselves, by doing sothis will help the company to thieve by refining the existing products, services andprocesses regularly. A breakthrough innovation refers to technological advancements that canboost the level of aproduct or service, within an existing category, ahead of its competitors.Disruptive:Disruptive innovationsare ideas that are capable of radically changing the marketbehavior after being implemented.
2.0Technology StrategyAlthough, the concept of technology strategy has been a part of management of technologyliterature since the late 1970s there is still a lot of debate regarding how to define technologystrategy. It can be briefly and broadly defined as a portfolio of choices and plans that a firm usesto address the technological threats and opportunities in its external environment. According to(Meyer, 2008), “The operational expression of a technology strategy is the set of projects that anorganization wants to implement. Determining a strategy is selecting the projects and theportfolio of projects.” The broad objective of technology strategy is to guide a firm in acquiring,developing and applying technology for competitive advantage. Another important aspect of technology strategy is its implementation. Technologies are notcharacterized by pre-determined level of efficiency. The level of operational efficiency attainedthrough a technology depends on the efforts made by a firm to assimilate and modify it to suitspecific requirements. (Deraniyagala, 2001).
2.1 Substance of Technology Strategy2.1.1 Product and Process DevelopmentAccording to (Krishnan & Ulrich, 2001), “Product development can be described as theprocess that identifies a market opportunity and transforms it into a product available for sales.”( as cited in Chroneer & Stenlund, 2006, p.238). Technology strategy is also enacted bydeploying technology to develop products. While taking a decision to develop products firms need to take a decision whethertechnology would drive the development of the product (technology push) or productdevelopment and / or market development would drive the development of technology (marketpull) . Every product is composed of a number of technologies. Firms infuse technology into newproducts either by bundling or by disruptive technologies. Through bundling, firms combine thedifferent elements of their product lines into bundles. Radical innovations, and sometimesmodular or architectural innovations, deploy disruptive technologies. The benefits of information technologies like desktop software and web-based tools fordifferent stages of the New Product Development (NPD) process are being widely recognized.However, it is essential for technology to be embedded into the people’s work and processes inorder that it is fully exploited and the benefits reaped. (Barczak, Sultan & Hultink, 2007. Every activity / process in the value chain uses some technology to combine rawmaterials or components and human resources to produce some output. Deployment oftechnology in the value chain would enable an organization to exploit the technologicalcapabilities in operations. For example the adoption of enterprise resource planning (ERP)systems across the value chain ( inbound logistics, operations and marketing and sales anddistribution ) can be used by a firm to not only improve its inventory and fixed assets turnoverbut also lead to efficiencies in marketing, sales and distribution. (Matolcsy, Booth & Weider,2005). The customer relationship management (CRM) value chain helps to improve theefficiency of firms by organizing, aligning and integrating the organization processes along thevalue chain between the customer, the firm and its extended enterprise. (Chan, 2005).
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Assignment On Innovation In Managementlg...
|12
|2755
|138
KSG Innovations.lg...
|9
|2247
|87
Strategic Management Answer 1: Radical Innovationslg...
|5
|1022
|329
Leading Long Strategies and Globalizationlg...
|14
|1119
|449
Importance of Innovation in Business Essay 2022lg...
|8
|2735
|39
Incremental Innovationlg...
|9
|3176
|55