Introduction Flashcards
Why is TIM important
The business environment is changing rapidly due to the accelerating rate of innovation and technological change
Anticipating the impact of emerging technologies is important for making critical business decisions
Successful innovation is needed to sustain business competitiveness
Management of Technology
What are our technological assets
How to exploit them for the business’ benefit
What new technologies are relevant to our business
How best to acquire new technologies
How to protect and leverage technological assets
Small
Technology Intensive: specialise hi-tech, corporate spin-offs, science park-based
Technology contingent: No R&D, regional companies
Large:
Technology intensive: leading innovators, global competitors, R&D Intensive, multinationals
Technology contingent: incremental innovators, mature markets, low R&D use, suppliers, large commodity manufacturer
Technology Management Process Framework
Identification
Selection
Acquisition
Exploitation
Protection
Degree of Innovation
Incremental Innovation: continuously improving existing products
Breakthrough Innovation: exciting existing customers with new benefits that allow expanding from existing businesses into new to the company businesses
Radical Innovation: Developing transformational innovations, inventing things for markets that do not yet exist
