STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION
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This document discusses the strategic management of technological innovation. It begins with an introduction by Fajri Ansyah Putra and outlines topics to be covered, including the importance of technological innovation, its impact on society, and innovation strategies across industries. Technological innovation is important for competitive success, with some companies relying on new products for 30-45% of sales. While innovation increases competition, it benefits society by enabling new goods and services and increasing GDP. However, most innovative ideas do not become successful new products, with only about 1 in 3,000 making it to market. Effective innovation management requires alignment with company objectives, leveraging core competencies through the innovation funnel process.
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Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
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3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
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STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION
- 1. STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION SLIDES BY FAJRI ANSYAH PUTRA
- 2. HELLO! I am FAJRI ANSYAH PUTRA 2
- 3. DISCUSSION IN THIS SLIDES โฐTHE IMPORTANCE OF TECHNOLOGICAL INNOVATION โฐTHE IMPACT OF TECHNOLOGICAL INNOVATION ON SOCIETY โฐINNOVATION BY INDUSTRY: THE IMPORTANCE OF STRATEGY 3
- 5. THE IMPORTANCE OF TECHNOLOGICAL INNOVATION In many industries technological innovation is now the most important driver of competitive success. Firms in a wide range of industries rely on products developed within the past five years for almost one-third (or more) of their sales and profits. For example, at Johnson & Johnson, products developed within the last five years account for over 30 percent of sales, and sales from products developed within the past five years at 3M have hit as high as 45 percent in recent years. 5
- 6. โtechnological innovation The act of introducing a new device, method, or material for application to commercial or practical objectives 66
- 7. 7 2THE IMPACT OF TECHNOLOGICAL INNOVATION ON SOCIETY
- 8. If the push for innovation has raised the competitive bar for industries, arguably making success just that much more complicated for organizations, its net effect on society is more clearly positive. Innovation enables a wider range of goods and services to be delivered to people worldwide THE IMPACT OF TECHNOLOGICAL INNOVATION ON SOCIETY 8
- 9. The aggregate impact of technological innovation can be observed by looking at gross domestic product (GDP). The gross domestic product of an economy is its total annual output, measured by final purchase price. THE IMPACT OF TECHNOLOGICAL INNOVATION ON SOCIETY 9
- 10. THE IMPACT OF TECHNOLOGICAL INNOVATION ON SOCIETY 10 Gross Domestic Product per Capita, 1969โ 2014 (in Real 2010 $US Billions)
- 11. โgross domestic product (GDP) The total annual output of an economy as measured by its final purchase price. 11
- 12. INNOVATION BY INDUSTRY: THE IMPORTANCE OF STRATEGY 12 3
- 13. The Innovation Funnel The Strategic Management of Technological Innovation INNOVATION BY INDUSTRY: THE IMPORTANCE OF STRATEGY 13
- 14. Most innovative ideas do not become successful new products. Many studies suggest that only one out of several thousand ideas results in a successful new product: Many projects do not result in technically feasible products and, of those that do, many fail to earn a commercial return. THE INNOVATION FUNNEL 14
- 15. According a 2012 study by the Product Development and Management Association, only about one in nine projects that are initiated are successful, and of those that make it to the point of being launched to the market, only about half earn a profit.7 Furthermore, many ideas are sifted through and abandoned before a project is even formally initiated. According to one study that combined data from prior studies of innovation success rates with data on patents, venture capital funding, and surveys, it takes about 3,000 raw ideas to produce one significantly new and successful commercial product. THE INNOVATION FUNNEL 15
- 16. The New Product Development Funnel in Pharmaceuticals THE INNOVATION FUNNEL 16
- 17. Improving a firmโs innovation success rate requires a well-crafted strategy. A firmโs innovation projects should align with its resources and objectives, leveraging its core competencies and helping it achieve its strategic intent. A firmโs organizational structure and control systems should encourage the generation of innovative ideas while also ensuring efficient implementation. THE STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION 17
- 18. A firmโs new product development process should maximize the likelihood of projects being both technically and commercially successful. To achieve these things, a firm needs (a) an in-depth understanding of the dynamics of innovation, (b) a well-crafted innovation strategy, and (c) well-designed processes for implementing the innovation strategy. THE STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION 18
- 19. The Strategic Management of Technological Innovation THE STRATEGIC MANAGEMENT OF TECHNOLOGICAL INNOVATION 19