Chapter
Management of
Technology and
Innovation:
An Overview
Overview
Issues addressed in this chapter include:
The significance of technology, innovation, and their
management
The meaning of technology
The process of managing technology
The meaning of innovation
The process of managing innovation
The structure of this examination of the management
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Opening Comments
Alan Greenspan (former Federal Reserve Chair)
described the latter half of the 1990s as a
pivotal period in American economic history.
New technologies that evolved from the cumulative
A flood of startups
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Normative Institutions
The norms of various industries and professions
Cognitive Institutions
Influences that come from the broader society and
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FIGURE 1.1
Process to Be ManagedDiscovery to
Application
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FIGURE 1.2
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FIGURE 1.3
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Price Pressure
to Lower Prices
Use
Better Technology
Better Pricing
Information
More
Customers
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FIGURE 1.4
Innovation Categories
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Management of Innovation
Characteristics of individual that enhance the
initiative that sparks innovation:
Asking questions to identify problems and
opportunities
Learning new skills
Taking risks and being proactive
Aligning strong personal beliefs and values with the
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FIGURE 1.5
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product/process/technology
Is how we lead our company from existing process to something
products.
Manages the process of invention+exploitation
Must encourage creative thinking and a willingness to take risks
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FIGURE 1.6
Organization of
This Book
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Managerial Guidelines:
To be proactive rather than reactive a firm
should:
Designate clear technology leadersindividuals who
champion change.
Know how the processes can work to help and to
technology curve.
Assess the strengths and weaknesses of your
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Key Terms
capabilities
cognitive institutions
innovation
just-in-time (JIT)
inventory management
management of
innovation
management of
technology
normative institutions
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platform
pulling
pushing
radio frequency
identification (RFID)
regulatory institutions
strategic management
systems view
technology
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