Chapter 1

Question 1

What is technology management

Answer 1

external acquisition of tech knowledge
* Partnership, corporate espionage, staff looking for external validation
Innovation management
* storage and internal acquisition of tech knowledge, R&D management, product dev, market introduction, external utilisation of tech knowledge

Question 2

Solo vs collab

Answer 2

Solo:
availability of capabilities, protecting proprietary tech, controlling development and use, building and renewing capabilities

Collab:
cabilities acquired quicker
Risk sharing
flexibility
learning
building coalition for shared standards

Question 3

relevance of innovation and its management

Answer 3

pricing policy
marketing
resource scarcity
global competition
product design
shorter product life cycle
faster product innovation

Question 4

motivation

Answer 4

surviving
differentiation
profitability through product and process innovation
resource scarcity
national economy
society

Question 5

innovation cost

Answer 5

R&D around 5%-20%
each stage costs more
could risk wasting resources

Question 6

innovation funnel

Answer 6

Initial idea
basic projects
Board projects
flops
loss
moderate
success

Question 7

why do projects fails

Answer 7

technical and market uncertainty
lack of strategic planning and implementation

Question 8

Design thinking

Answer 8

creative problem solving through a human centric approach

blending different experiences, opinions, and perspectives

Question 9

innovation viewed through 3 perspectives (HTE Design thinking)

Answer 9

Desirability
Feasibility
Economic viability

Question 10

steps for design thinking

Answer 10

understand the problem
observe
points of view
ideate
prototype
test