Benefits of Globalization: Technological Innovation Flashcards
process where an organization (or a group of people working outside a
structured organization) embarks on a journey where the importance of technology as a source of
Innovation has been identified as a critical success factor for increased market competitiveness
Technological Innovation
comprise new products and processes and significant technological
changes of products and processes
Technological Innovations
applying scientific knowledge for practical purposes or the branch of knowledge
concerned with applied sciences
Technology
evolutionary and is a response to an unsolved problem and unexploited opportunity. It is
the effort to create purposeful, focused change in an enterprise’s economic or social potential
Innovation
involves the use of imagination or original ideas to create something
Creativity
act of introducing something new
Innovation
TYPES OF INNOVATION
-Incremental Innovation
-Architectural Innovation
-Radical Innovation
These Innovation do not alter the overall product structure, but change can occur
in the component technology
Incremental Innovation
innovations take existing technologies and link new technologies in novel ways; they are built not
on new technological breakthroughs but on integrating competencies, i.e., product structure change
with no important effect on component subsystems
Architectural Innovation
These innovations are revolutionary
Radical Innovation
True or False
Technology is applying scientific knowledge for practical purposes or the branch of knowledge
concerned with applied sciences
True
True or False
Innovation is evolutionary and is a response to an unsolved problem and unexploited
opportunity
True
True or False
Creativity involves the use of imagination or original ideas to create something
True
True or False
Innovation is the act of introducing something new; the word “new” relates to creativity.
True
True or False
The invention is the creation of a new product or service or process; innovation introduces a new
product or service or process into the marketplace
True
