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15/12/2021, 11:36 Strategic Management of Technology and Innovation Flashcards | QuizletStudy sets, textbooks, questions
Strategic Management of Technology and Innovation
Terms in this set (135)
-incremental innovations , me - too products Solutions for functional fixedness in customers
-solution : focus on outcomes or observe
-ask direct questions
a) Strategic intent - in which markets/industries do R&D activities:
you want to operate as a firm
b) Market pull - find what people want within a
certain market
c) Autonomy R&D staff - full autonomy for
researchers d) Technology push - which new
technologies are there that might be useful
1- Resource-drive Product innovation in small firms, effectuation tactics:
- Creative use of existing resources
- Scoping innovation to be realizable with
available resources
- Prioritise their resources, more limited - much
more realistic
- Tap into external resources
- Prioritize existing business
2- Stepwise
- Loose project-planning
- Working in steps to tangible outcomes
3- Open-ended
- Iterative generation, selection + modification of
goals and ideas
- Rely on own customer knowledge + market
probing - instead of market research/collected
data. Follow "gut instinct"
add value to people's lives. Innovation:
Kondratieff Waves
drove globalization... waves of innovation and
economic growth occurring in a 50 year cycle
which is 25 years up followed by 25 year lag
period
Periodic waves of transformation are fueled by Joseph Schumpeter and Creative Destruction
technological innovations in production and
distribution.
This capitalist process not only creates a new
economy but also destroys old ones.
Schumpeter's theory provides a useful way to
think about the economic changes that have
shaped and reshaped the Texas economy.
Strategic Management of Technology and Innovation
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,15/12/2021, 11:36 Strategic Management of Technology and Innovation Flashcards | Quizlet
Innovation creates jobs but different ones Innovation for Employment
a. Social intelligence 3 variables that determine the propensity of a job to be computerized:
b. Creativity
c. Perception and manipulation
Those companies performing product and/or
process innovation score higher in employment
and turnover growth. Active in innovation allows
you to grow faster as a firm and outperform other
companies (Red Queen effect).
a phenomenon seen in coevolving populations- Red Queen Effect
to maintain relative fitness, each population must
constantly adapt to the other
Technology Technology
- Technology is a means to fulfill a human purpose
-device
-process
' Technology consists of multiple components
linked together
-Technology exploits phenomena to fulfill its
purpose
-Technology is a phenomenon captured and put
to
use
act of introducing a new device, method, or Technological innovation
material for application to commercial/practical
objectives. Creation of knowledge that's applied
to practical problems
" Innovation is the process of turning ideas into
reality and capturing value from them " (Tidd 4
Bersani , 2009)
Innovation = theoretical conception + technical
invention + commercial exploitation
(Trott , 2012)
-Inventors sources of Innovation
-users
- Firms
- Universities/government funded research
- Private non-profit organisation
Innovation is taking a scientific discovery and Inventors
giving it a use example :
electricity through a lightbulb makes light →
lightbulb
(Thomas Edison)
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, 15/12/2021, 11:36 Strategic Management of Technology and Innovation Flashcards | Quizlet
Asking a customer what they want, they would Users
stay close to their reality (fauster norse vs cour)
Functional fixedness: tendency to stick to a
predetermined function, not going beyond it and
looking for new uses
Functional Fixedness
Objects have a set function , normally people do
not
think outside of that
Firms : R&D activities
...
- Globalization Increasing importance of innovation :
- Increased competition (differentiation)
- Speed of knowledge development
- Shortened development cycles + product life
cycles
- Enabling technologies: computer-aided design,
flexible manufacturing systems, 3D printing,
internet-of things
the path that a technology takes through its Technology trajectory:
lifetime. It's not just the performance of the
technology, but also the nature.
i.e. from typewriters to keyboards - path "Re-use" of components :
dependency: stick to specific components instead
of using others that might be more optimal
i.e. from chicken incubators (to stop young chicks "Recombination" of components :
from dying, resulting in economical issue) to baby
incubators (to stop new-born babies from dying)
i.e. quantum computing - use of qubits instead of "Novel" components :
bits
1. Product, service and process innovation Types of innovation :
2. Modular and architectural innovation
3. Incremental and radical innovation
4. Sustaining and disruptive innovation
physical innovation, tangible Product
provision of a service to another party, companies Service
might call them products too
Strategic Management of Technology and Innovation
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