Strategies of Technological Innovation

Strategies of Technological Innovation

1) Basic Research
Understanding the laws of nature
Process of generating knowledge
2) Application Research
Research directed toward selling one / more
Result in technology development & implementation
3) Technology Development
Human activity that converts knowledge & idea into physical
hardware / Software / Service
4) Technology Implementation
Set of activities associated with introduction a product into the
market place
5) Production
Set of activities associated with the widespread conversion of
design concepts or ideas into products & services.
Involving Manufacturing – Production control – Logistics –
Distribution
6) Marketing
Activities that ensures that consumers embrace the technology
It entails…
o Market assessment
o Distribution Strategy
o Promotion
o Gauging of consumers’ behavior
7) Proliferation
The strategy & associated activities that ensures the widespread
use of the technology & its dominance in the marketplace.
Depends on methods of exploiting the technology & on the practice
used for marketing the technology.
8) Technology Enhancement
Set of activities associated with maintaining a competitive edge for
the technology
It entails …
o Improving the technology
o Developing new generations
o New applications for the technology
o Improving quality
o Reducing cost & meeting customers’ special needs
The innovation Chain Reaction
Martin – Technology innovation process or a chain equation
A commonly successful innovation is the product of sustained chain
reaction
It requires…

Commercially Successful Innovation
Synthesis of knowledge & expertise Scientific invention
Entrepreneurial spirit Engineering development
Management skills Entrepreneurship
Recognized social need Management
A supportive environment Recognized social need
Supportive Environment
Formalized management takes a defined product & connects into a
market using a set of…
Structured functions
Formalized procedures
Engineered work processes
Defined role for employees
Safer capabilities