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Essential of Technology Entrep. & Innovation- Chapter five  process of technological innovation
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Essential of Technology Entrep. & Innovation- Chapter five process of technological innovation

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In chapter five we are discussing the process of technology innovation. ...

In chapter five we are discussing the process of technology innovation.
This course provide the students with a conceptual knowledge regarding the essentials for management practices of a technology-based organization, and the evolution of technology. The topics covered in this course would include: • Introduction to the concept of entrepreneurship. • What entrepreneurs do and their importance to economy • How to seize business opportunity; • Know the process of creativity and difference between invention and innovation • Know how innovation is important as a dimension of entrepreneurship • Critical factors in managing technology; including • The Time Factor (Osborn effect) • Technology Push and Market Pull • The S-Curve of Technology • Technology and Product Life Cycle • The Chain Equation of Technology Innovation • Price Knowledge Gape Relation • Difference between Entrepreneurship and Stewardship Management • Difference between technology leader and followers • Competition and Competitiveness Concepts. • The process of the technological innovation; • Who are the customers; and • How to optimize cost and find finance for your projects • Demonstrate the importance of business plan, including the marketing and financial plans and how to prepare it. • Know the structure and management of a technology organization

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Essential of Technology Entrep. & Innovation- Chapter five  process of technological innovation Essential of Technology Entrep. & Innovation- Chapter five process of technological innovation Presentation Transcript

  • CS443 Course Introduction To Entrepreneurship p p Spring 2009, Modern Science & Arts University Chapter Five: The Process of Technological InnovationInstructor:Al-Motaz Bellah Alaa Al-AgamawiChapter Source, “chapter six: the process of technological innovation” from “customizedmanagement of technology” book, by Tarek Khalil, 2000, McGraw-Hill Companies, Inc. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Technological Innovation2 The process of technological e p ocess o ec o og cainnovation is a complex set of activitiesthat transforms ideas and scientificknowledge into physical reality andreal-world applications. It is a process that converts knowledgeinto useful products and services thathave socioeconomic impact. It requires the integration of q ginventions and existing technologies tobring innovations to the marketplace. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Stages of Technological Innovation3 Basic research: This is research for the sa e of increasing our general understanding as c esea c : s s esea c o e sake o c eas g ou ge e a u de s a d gof the laws of nature. It is a process of generating knowledge over a long period oftime. It mayor may not result in specific application. society s Applied research: This is research directed toward solving one or more of societysproblems. An example is research conducted to develop a drug for treating a knowndisease. Basic and applied research advance science by systematically buildingknowledge on previous knowledge. Technology development: This is a human activity that converts knowledge andideas into physical hardware , software, or service . It may involve demonstrating the p y , y gfeasibility of an idea. verifying a design concept. or building and testing a prototype. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Stages of Technological Innovation4 Technology implementation: This is the se o ac v es associated w introducing a ec o ogy p e e a o : s s e set of activities assoc a ed with oduc gproduct into the marketplace. Technology implementation involves the first operationaluse of an idea or a product by society. It entails the activities associated with ensuringthe successful commercial introduction of the product or service . such as cost safety and cost, safety,environmental considerations. Production: This is the set of activities associated with the wide spread conversion ofdesign concepts or ideas into products and services. Production involves manufacluring,production control, logistics, and distribution. Marketing: This is the set of activities that ensures that consumers embrace the gtechnology. It entails market assessment, distribution strategy. promotion , and thegauging of consumers behavior. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Stages of Technological Innovation5 Proliferation: This is the strategy and associated activities that ensure the widespread o e a o : s s e s a egy a d assoc a ed ac v es a e su e e w desp eaduse of the technology and its dominance in the marketplace. Proliferation depends onmethods o f exploiting the technology and on the practice used for marketing thetechnology.technology Technology enhancement: This is the se t o f activities associated with maintaininga competitive edge for the technology. It entails improving the technology, developingnew generations or new applications for the technology, improving quality, reducingcost, and meeting customers special need s. Technology enhancement increases the lifecycle of the technology. y gy The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • The Process of Technological Innovation6 The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • The Innovation Chain Equation 7 Using a chemical analogy. Martin ( 1994) illustrates the technological innovation h i tiprocess as a chain equation. A commercially successful innovation is the product of a sustained chain reaction. Itrequires synthesis o f know ledge and expertise, entrepreneurial spirit, managementskills, recognized social need , and a supportive environment. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • The Innovation Chain Equation 8 The innovation chain equation reveals the important role of entrepreneurship inconnecting ideas to the marketplace. When a technological turbulence takes place because of a scientific discovery or anengineering development. it creates a loosely defined product structure. It takes entrepreneurial and technical competencies, experimentation and creativework, processes to solidly de fine the product. It takes persistence and willingness t t k risk t b i th product t th t k it d illi to take i k to bring the d t to themarketplace. These arc the conditions of entrepreneurial culture, young mindset, and heterogeneouspopulation- the type of conditions that lead to radical innovation . The management role in the innovation chain emphasizes the need for stability andco o a certain p asecontrol at a ce a phase o f the innovation process. e ova o p ocess. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • The Innovation Chain Equation 9 It permits running operations efficiently in order to achieve commercial success. Formalized management takes a defined, product and connects it to a market using aset of structured functions, formalized procedures, engineered work processes, definedroles for employees, and safer capabilities. Mill s (1996) provided very simplified but interesting definitions for severalcomponents of the process of technological innovation . He called them minimalistdefinitions:d fi iti Science: How things are. Technology: How to do things. Management : How to get things done. Technology management: Doing things . Entrepreneurship: Doing things to make money. ep e eu s p: o g gs o a e o ey. Innovation: Doing entrepreneurship. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Entrepreneurial Versus Stewardship Management 10 Organizations are created to transfer knowledge or technology to the marketplace. The structure the organization provides a system to integrate the resources requiredto exploit the knowledge. The objective of management is to guide the organization toward achieving itsmission while optimizing the use of resources. Organizations can be managed in a highly structured, rigidly standardized way or inloosely d fi d L format, entrepreneurial way.l l defined. Less f t t i l The former is associated with professional management, the latter with theentrepreneurial management style. In the early phase of technology development, an entrepreneurial style managementis needed. An entrepreneurial sp creates disturbance in the system and helps organizations e ep e eu a spirit c ea es d s u ba ce e sys e a d e ps o ga a o screate new technology cycles or discontinue existing ones. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Entrepreneurial Versus Stewardship Management 11 Once technology life cycleis in the full growth phase orin the maturity phase,stewardship or professionalmanagement may be neededto exercise control overoperations. ti Successful organizationmust be able to embraceelements of these twomanagerial styles. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • The Management Renewal Cycle 12 Apple came to view Steve Jobs itsfounder, as too demanding and as spendingtoo much of its resources pursuing new ideasthat did not contribute positively to thebottom line in the short ,run. Apple hired A new CEO, Scully, whoagreed with Apples b d to force Jobs out d ith A l board t f J b tand to foster a more orderly managementstyle to sustain progress. Scully’s strength was in marketing, havingspent two decades in PepsiCo before joiningapp e.apple. The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • Chapter Assignment… Assignment Deadline: After three weeks.13 Class will be divided into four groups each group will take one of the following (note each group ill have only 15 min to demonstrate its presentation) will h l ): Xerox Before, Xerox After, Each group must present the case study as stated in the book, defending the point of view. Each group presentation must align with the case study . Through Searching the internet, prepare a presentation about one of the above cases from the case point of view… Prepare the presentation following the same logical sequence as the case study. Apply all the concept, cycles, processes on the case for example and not limited to: Creativity process, key people in innovation, success factor of entrepreneurship, product life cycle, leaders and followers, competition at different p y , , p phases, diffusion, stewardship… , , p Include all your references and source of information. Include as much graph, diagrams and video as possible. Minimum Text per slide. Assignment: case 1 page 108 and case 2 page 130 A i t d 130. Book, Customized Management of Technology, Dr. Tarek Khalil The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi
  • 14 Q&A… The Process of Technological Innovation Chapter 5 By: Motaz Al-Agamawi