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INNOVATION & TECHNOLOGY MANAGEMENT
UNIT 1 By:- Ayesha khan( Asst. Professor of Management)
Technology: Definition & characteristics 1)
WEBSTER’S dictionary defines technology in several ways: The branch of knowledge that deals with the industrial arts, applied science, or engineering science.
2)
The application of this knowledge for practical ends.
3)
The terminology of an art, science, etc.; technical nomenclature.
4)
A scientific or industrial process, invention, method, or the like.
The sum of the ways in which social groups provide themselves with the material objects of their civilization. 5)
Characteristics: Opportunity Appropriability
Transferability Resources
Levels of knowledge Intuitive / Tacit Codify and verify Science formalized knowledge
Develop Physically embodied products and processes
Management of technology (MOT)
Management of Technology PURPOSE WHAT
VALUE DRIVEN
How ORGANISATION & MANAGEMENT
TECHNOLOGY STRATEGY
TECHNOLOGY CHOICES
Two complementary perspectives in management Market
based views Resource based views Dimensions
Market based
Resource based
Drivers of strategy
Customers and competitors
Unique resources
Derivatives
Resources
Market opportunities
Strategy profile
Positional
Core competencies
Appropriate contexts
Mature markets
Dynamic markets
Technology life cycle The
technology life-cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other cases, such as electronic or pharmaceutical products, the lifespan may be quite short.
The four phases of the Technology life-cycle
The TLC may be seen as composed of four phases:
Research and development (R&D) phase (sometimes called the "bleeding edge") when incomes from inputs are negative and where the prospects of failure are high.
The ascent phase when out-of-pocket costs have been recovered and the technology begins to gather strength by going beyond some Point A on the TLC (sometimes called the "leading edge")
The maturity phase when gain is high and stable, the region, going into saturation, marked by M, and
The decline (or decay phase), after a Point D, of reducing fortunes and utility of the technology.
S-curve
The four stages of technology life cycle are as follows:
Innovation stage: This stage represents the birth of a new product, material or process resulting from R&D activities. New ideas are generated depending on gaining needs and knowledge factors. Depending on the resource allocation and also the change element, the time taken in the innovation stage as well as in the subsequent stages varies widely.
Syndication stage: This stage represents the demonstration and commercialization of a new technology, such as, product, material or process with potential for immediate utilization. Many innovations are put on hold in R&D laboratories. Only a very small percentage of these are commercialized. Commercialization of research outcomes depends on technical as well nontechnical, mostly economic factors.
Diffusion stage: This represents the market penetration of a new technology through acceptance of the innovation, by potential users of the technology. But supply and demand side factors jointly influence the rate of diffusion.
Substitution stage: This last stage represents the decline in the use and eventual extension of a technology, due to replacement by another technology. Many technical and non-technical factors influence the rate of substitution. The time taken in the substitution stage depends on the market dynamics.
TECHNOLOGY ADOPTION LIFE CYCLE
TECHNOLOGY ADOPTION LIFE CYCLE
Innovators - These are risk-oriented, leading-edge minded individuals who are extremely interested in technological developments (often within a particular industry). Innovators are a fractional segment of the overall consumer population.
Early Adopters - A larger but still relatively small demographic, these individuals are generally risk-oriented and highly adaptable to new technology. Early adopters follow the innovators in embracing new products, and tend to be young and well-educated.
Early Majority - Much larger and more careful than the previous two groups, the early majority are open to new ideas but generally wait to see how they are received before investing.
Late Majority - Slightly conservative and risk-averse, the late majority is a large group of potential customers who need convincing before investing in something new.
Laggards - Extremely frugal, conservative, and often technology-averse, laggards are a small population of usually older and uneducated individuals who avoid risks and only invest in new ideas once they are extremely well-established.
Technological Environment
External factors in technology that impact business operations. Changes in technology affect how a company will do business. A business may have to dramatically change their operating strategy as a result of changes in the technological environment.
LEVELS OF TECHNOLOGICAL ENVIRONMENT
Macroenvironment
Task
Industry/ Firm
Competitive
Parameters of technological environment 1.
2.
3.
• • • •
Task environment: It comprises generally of customers, suppliers, competitors and other environmental agencies directly related to the firm. Industry / Competitive environment: Environmental factors that directly affects all competitors in the same industry can be a part of industry environment. Ex:- substitute products, suppliers of raw material , customers, rivalry Macro environment:- it can be categorized in 4 broad segments:Social-Ex, demographics, life styles, social values. Economical- economic conditions facing by all industries. Political – administrative or regulatory laws, rule and regulations. Technological- new product, process or materials.
Changes in technological environment
Induced changes:- Technological consequences created by social, political or economic forces. Autonomous changes
Major current environment • • •
developments
Globalisation Time Compression Technology Integration
in
the
technological
UNIT 1 By:- Ayesha khan( Asst. Professor of Management)
Technology: Definition & characteristics 1)
WEBSTER’S dictionary defines technology in several ways: The branch of knowledge that deals with the industrial arts, applied science, or engineering science.
2)
The application of this knowledge for practical ends.
3)
The terminology of an art, science, etc.; technical nomenclature.
4)
A scientific or industrial process, invention, method, or the like.
The sum of the ways in which social groups provide themselves with the material objects of their civilization. 5)
Characteristics: Opportunity Appropriability
Transferability Resources
Levels of knowledge Intuitive / Tacit Codify and verify Science formalized knowledge
Develop Physically embodied products and processes
Management of technology (MOT)
Management of Technology PURPOSE WHAT
VALUE DRIVEN
How ORGANISATION & MANAGEMENT
TECHNOLOGY STRATEGY
TECHNOLOGY CHOICES
Two complementary perspectives in management Market
based views Resource based views Dimensions
Market based
Resource based
Drivers of strategy
Customers and competitors
Unique resources
Derivatives
Resources
Market opportunities
Strategy profile
Positional
Core competencies
Appropriate contexts
Mature markets
Dynamic markets
Technology life cycle The
technology life-cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other cases, such as electronic or pharmaceutical products, the lifespan may be quite short.
The four phases of the Technology life-cycle
The TLC may be seen as composed of four phases:
Research and development (R&D) phase (sometimes called the "bleeding edge") when incomes from inputs are negative and where the prospects of failure are high.
The ascent phase when out-of-pocket costs have been recovered and the technology begins to gather strength by going beyond some Point A on the TLC (sometimes called the "leading edge")
The maturity phase when gain is high and stable, the region, going into saturation, marked by M, and
The decline (or decay phase), after a Point D, of reducing fortunes and utility of the technology.
S-curve
The four stages of technology life cycle are as follows:
Innovation stage: This stage represents the birth of a new product, material or process resulting from R&D activities. New ideas are generated depending on gaining needs and knowledge factors. Depending on the resource allocation and also the change element, the time taken in the innovation stage as well as in the subsequent stages varies widely.
Syndication stage: This stage represents the demonstration and commercialization of a new technology, such as, product, material or process with potential for immediate utilization. Many innovations are put on hold in R&D laboratories. Only a very small percentage of these are commercialized. Commercialization of research outcomes depends on technical as well nontechnical, mostly economic factors.
Diffusion stage: This represents the market penetration of a new technology through acceptance of the innovation, by potential users of the technology. But supply and demand side factors jointly influence the rate of diffusion.
Substitution stage: This last stage represents the decline in the use and eventual extension of a technology, due to replacement by another technology. Many technical and non-technical factors influence the rate of substitution. The time taken in the substitution stage depends on the market dynamics.
TECHNOLOGY ADOPTION LIFE CYCLE
TECHNOLOGY ADOPTION LIFE CYCLE
Innovators - These are risk-oriented, leading-edge minded individuals who are extremely interested in technological developments (often within a particular industry). Innovators are a fractional segment of the overall consumer population.
Early Adopters - A larger but still relatively small demographic, these individuals are generally risk-oriented and highly adaptable to new technology. Early adopters follow the innovators in embracing new products, and tend to be young and well-educated.
Early Majority - Much larger and more careful than the previous two groups, the early majority are open to new ideas but generally wait to see how they are received before investing.
Late Majority - Slightly conservative and risk-averse, the late majority is a large group of potential customers who need convincing before investing in something new.
Laggards - Extremely frugal, conservative, and often technology-averse, laggards are a small population of usually older and uneducated individuals who avoid risks and only invest in new ideas once they are extremely well-established.
Technological Environment
External factors in technology that impact business operations. Changes in technology affect how a company will do business. A business may have to dramatically change their operating strategy as a result of changes in the technological environment.
LEVELS OF TECHNOLOGICAL ENVIRONMENT
Macroenvironment
Task
Industry/ Firm
Competitive
Parameters of technological environment 1.
2.
3.
• • • •
Task environment: It comprises generally of customers, suppliers, competitors and other environmental agencies directly related to the firm. Industry / Competitive environment: Environmental factors that directly affects all competitors in the same industry can be a part of industry environment. Ex:- substitute products, suppliers of raw material , customers, rivalry Macro environment:- it can be categorized in 4 broad segments:Social-Ex, demographics, life styles, social values. Economical- economic conditions facing by all industries. Political – administrative or regulatory laws, rule and regulations. Technological- new product, process or materials.
Changes in technological environment
Induced changes:- Technological consequences created by social, political or economic forces. Autonomous changes
Major current environment • • •
developments
Globalisation Time Compression Technology Integration
in
the
technological
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