Research and write a report that addresses both Part A and Part B:
Part A: What are the key activities that organizations can undertake within each of the 5 technology management processes described in the paper by Gregory (1995)? Comment on what changes might have affected how firms undertake these activities since the publication of that paper in 1995.
Part B: Discuss how open innovation could help firms respond to the emergence of potentially disruptive technologies.
Part A should be approximately 1000 words, and Part B should be approximately 2000 words. Your report should be within 10% of these target word counts. Your report should draw upon module material supplemented with your own research on both industrial practice & academic theory. You may use examples from any sector.
Introduction: In the last decade, the manufacturing of a business depends on computer integrated manufacturing process with the help of robotics. Due to lack of proper link between technology and business; this strategy was UN-successful . In today, most of the company focuses on the development of operational efficiency rather than technology . The application of technology into the business must be protected . By understanding the existing and new technologies, this feature must be exploited to the business strategy .
Technology Management Processes:
The key activities of technology management processes as per the Paper of Gregory (1995) can be described as follows,-
- Identification: It is the process to recognize and create awareness of all current and future technologies related to the business. The systematic scanning of existing and future technologies with capturing of internally generated technologies is the main activity in this phase . As, many disciplines, functions inside and outside of the Company are involved with the traditional R&D organization. The accessing of internal databases with external networks as per company’s needs tends to supported by this phase.
- Selection: The choice of technology that must be used for prompting the organization involves in selection phase. The required human and financial resources by limiting the company’s future options depend on the selection process. The areas of technology for the organization must be determined by the selection process. The required technologies that should be well placed to develop the company as well as increment the product strategies is the Competence analysis . To determine the relative importance of identified technologies that are needed for the business is the essential task for the selection process.
- Acquisition: The proper way of collecting selected technologies and integrating them efficiently within the business is the main task for acquisition of the business. The acquisition process can be done into two ways like organizational learning activities and R&D activities. The acquisition can also be done through externally by licensing or joint venture with technology owners. The business can also hire the third party technology owners. Choosing a particular acquisition approach as well as detailed process for executing the chosen approach is very much needed in this process.
- Exploitation: The realization of technological values through sale or joint venture as well as conversion of technologies into marketable products is the main task in this phase. The maximum return gained by converting the scientific and technological development into marketable products is analyzed. In this case, the issues related to core products and their platforms as well as link between technologies, markets and platforms is considered . The technology fusion is also an important criterion in this phase . By using the integration of discrete technologies, Japanese companies derived new products. Critical technologies should be maintained in this respect as it would not obsolete.
- Protection: The techniques, procedures, knowledge and expertise about the manufacturing process on new product must be preserved that is concerned with protection. For creating the products with the help of required technologies, the knowledge should be preserved as heavy investment is associated with it. For using the computer assisted technologies, the protection of computer peripherals is very much important. The protection should be done by licensing and patenting.
Changes affected by the firms:
The various changes affected by the firm due to adopting new technology as well as implementing this technology for creation of new product can be described as below,-
- Business and technological strategy determination.
- Analysis of feasibility for adopting those strategies.
- Approval for budget.
- For outsourcing or hiring new technological environment, tender calling from different vendors and accepting RFI (Request for Information) from them are needed.
- The RFI evaluation with respect to company’s policy, requirements and standards must be determined by the business.
- Appropriate Vendor is selected for necessary technological changes .
The necessary changes by the vendor should be done by vendor selection in respect of following criteria,-
- Quality: The selected vendor should offer quality service for technology that must be implemented for product creation.
- Cost: The selected should be cost-effective in case of both initial and recurring.
- Resources: The vendor or joint venture technological firm must provide additional resources that are not available within company.
- Experience: The vendor should relate this type of new technological innovation strategy.
- Security: The knowledge, procedure and technique data should be secured and must not be accessed by the competitors.
- Protection: The changing technological environment must be preserved by the organization as well as vendor.
In today’s global business environment, online business is an important area by adopting new technological advancement. In this case, the e-business is growing by implementing different secure technological achievement like digital certificates, encryption technology and digital watermarks. The online trust service by the organization must be followed by different secure technologies from third parties like SEEP (Secure Electronic Payment protocol), SET (Secure Electronic Transaction), STT (Secure Transaction Technology) etc. For confidential sharing of business and financial data, SSL (Secure Socket Layer) technology adoption is must .
For example, a technological advancement in today’s environment is the implementation of smart home thermostat system. This system is mainly used in cold-climate regions to keep the room temperature high. This system is controlled by the smart phone, PC or tablet by touch screen. Later, due to technological advancement, this product is converted into a programmable thermostat system. User can set their room temperature with respect to time in this programmable thermostat system. The controlling can be done remotely with the use of smart phone or tablet that tends to save time and energy both. Again, due to high technological achievement, this system is implemented with added features like automatic scheduling, notification to users, adding humidity and motion sensors and programmable fan support etc.
In this way, technological advancement is implemented into new product generation as well adding extra feature into the existing products that must be cost-effective and user friendly
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