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Summary: Strategic Management Of Technological Innovation | 9780078029233
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Read the summary and the most important questions on Strategic Management of Technological Innovation | 9780078029233
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1 Introduction
This is a preview. There are 3 more flashcards available for chapter 1
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What is technological innovation?
The act of introducing a new device, method, or material for application to commercial or practical objectives -
The increasing importance of innovation is due to?
Globalization of markets and the advent (komst) of advanced technologies -
How can the aggregate impact of technological innovation be observed?
By looking at the Gross Domestic Product -
Sometimes technological innovation results in externalities? What does externalities mean?
Costs/benefits that are borne/reaped by individuals other than those responsible for them -
What is technology in its purest essence?
Knowledge - Knowledge to solve our problems and pursue our goals -
What do succesfull innovators have in common?
Clearly defined innovation strategies and management processes -
Shortly explain the innovation funnel
Many potential new products ideas go into the wide end, but very few make it throught the development process -
What does a firm need to have to have a well designed new product development process to maximize the likelihood of projects being both technically and commercially successful? - Succesful innovation
- An in-depth understanding of the dynamics of innovation
- A well-crafted innovation strategy
- Well-designed processes for implementing the innovation strategy -
Why is innovation so important for firms to compete in many industries?
Because it generates a lot of profit for companies. Many firms receive more than on-third of their sales and profits from products devloped within the past five years. -
What are some advances of technological innovation? Disadvantages?
Advantages (Positive externalities)Increased GDP
Greater communication and mobility
Improving medical treatments
Disadvantages (Negative externalities)Pollution
Resource depletion
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Topics related to Summary: Strategic Management Of Technological Innovation
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Types and Patterns of Innovation
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Standards Battles and Design Dominance
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Timing of Entry
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Defining the Organization's Strategic Direction
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Choosing Innovation Projects
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Collaboration Strategies
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Protecting Innovations
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Managing the New Product Development Process
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Managing New Product Development Teams
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Crafting a Deployment Strategy
