Developing Technology and Innovation

 Hello Dear Reader,

Here in this post, I will give an idea about how Technology and Innovation develop and come to in our regular life. 

There are a number of ways that organizations can develop and manage technology and innovation. We will focus on organization-level activities and the three strategic processes in this section of the post.

In order for a firm to develop successful management of technology and innovation strategy, it is imperative that the organization be readied for the effort. This requires agility because changes and adjustments to products and processes are filled with risk and uncertainty. However, agility is inherantly less efficiency if it is to be effective. Therefore, the management of technology and innovation must balance short-term efficiency with long-term effectiveness in the market if the firm is to add value and thrive in a changing environment. Strong dynamic capabilities are needed if the organization is going to be able to address the challenges of innovation and dynamic competition.

Innovation generation:

There are four things the firm should do to balance the conflicting demands of being agile in a dynamic environment. These are:

1. Design systems and processes that can identify, assess, and develop technology based opportunities (or protect from new technology threats). The systems and processes should be able to sense what is coming.

2. Identify communication needs and efficiently turn data into information so that the right information can be available to make the best decision in a timely fashion. The current interest in big data and what it can tell firms is tied to the notion that we have a lot of bytes of data available because of computer technology that are not being used effectively or efficiently.

3. Develop employees through training and learning opportunities. This becomes more critical as the competitive environment for the organization becomes more dynamic. The management of technology and innovation requires that all levels of the organization are involved and that efforts are made to ensure that employees are allowed to enhance their skills for themselves and the organization. The more dynamic the environment, the more important skill enhancement is for the firm and the individual.

4. Use good change management processes to help the firm succeed in introducing newness into the organization. Many firms learned expensive lessons when desktop computers were introduced into the workplace. First, most managers did not type, so they did not adopt the new technology. Second, younger staff members were more likely to be comfortable with the new computers (even elated because the computer was better than they could afford at home), so knowledge power was turned upside down from the hierarchy and seniority. Third, many firms installed desktops with little or no training (because they were “upgraded typewriters”) while leaving the typewriters easily accessible. The result was that some companies deemed desktops a failure and sold the equipment at a loss. Obviously, desktop computers are now a vital tool in the workplace, but this just illustrates what happens when a good change management process that includes proper support systems, communication, and training is not implemented.

There are three basic organizational processes—buying and partnering, developing newness within the firm, and entrepreneurially exploiting a space in the environment as shown below figure. delineates the three types. Buying and partnering includes mergers and acquisitions, joint ventures, contractual agreements, and other forms of acquiring technology/innovation from external sources. Internal sources of new technology/innovation for the organization include research and development of new products as well as reconfiguring or developing new processes—ways of doing things. This can be organization structure or redesigning an assembly line. Adding robotics to a manufacturing process may be an internally driven process, or a firm may buy a robotics manufacturer to acquire the capability to add robotics to the assembly process.

https://www.greycampus.com/blog/project-management/common-types-of-organizational-structures-in-project-management

https://www.greycampus.com/blog/project-management/common-types-of-organizational-structures-in-project-management

Technological innovation is an extended concept of innovation. While innovation is a rather well-defined concept, it has a broad meaning to many people, and especially numerous understanding in the academic and business world.[1]

 

Technology and innovation part of life: 

Technological innovation is the 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 for increased market competitiveness new innovation-questions The wording "technological innovation" is preferred to "technology innovation". "Technology innovation" gives a sense of working on technology for the sake of technology. "Technological innovation" better reflects the business consideration of improving business value by working on the product or services' technological aspects. Moreover, in a vast majority of products and services, there is not one unique technology at the heart of the system. The combination, integration, and interaction of different make the product or service successful.

Technological Innovation Leadership 

If the process of technological innovation is formalized (typically within an organization: a company, a public entity, a think tank, a university, etc.) it can be referred as Technological Innovation Management (or Technology Innovation Management - TIM). The "management" aspect refers to the inputs, outputs and constraints a "Manager" or team of "Managers" are responsible to govern the process of technological innovation in a way that aligns with the company strategy. In a context where Technological Innovation is not to be guided along known paths within the organization, the wording and concept of Technological Innovation Leadership is preferred. In many occasion, especially in start-ups and new ventures, the Technological Innovation is performed in an unknown context. The boundaries and constraints of the Technology at work are not precisely know. Hence it requires leaders and not managers to give the vision and coach the team to explore the unknown part of the technology.

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