The Technological Innovation Process

The Technological Innovation Process

The Technological Innovation Process

General managers of high-technology businesses have a responsibility to nurture a continuous succession of new products, based upon a continued succession of technological innovations, and therefore need to be familiar with the innovation process. I also suggested that students of science, engineering, and management who plan (or have already started) to pursue careers in high-technology industries should recognize the main features of this process, particularly if they aspire to reach senior/general management positions or set up their own independent high-technology business later. Therefore to begin, we will examine the process in a little detail to identify the combination of elements required to generate a commercially successful technological product.

Click Here To Learn More!

Most high-technology companies are "science based" in that their innovations develop out of new ideas and inventions generated by scientific activity, either within their own R & D function or elsewhere. However, at the outset, it is important to recognize the distinction between scientific invention and technological innovation. A scientific invention may be viewed as a new idea or concept generated by R & D, but this invention only becomes an innovation when it is transformed into a socially usable product. Laypersons, probably because of the mystique that surrounds science, generally

view invention as a relatively rare event and assume that once it has occurred, the process of innovation can be completed in a straightforward manner. In actuality, the converse situation pertains here. All who have worked in R & D will agree that although it is intellectually and emotionally demanding and frustrating, even so the R & D community is quite prolific in generating inventions, and companies can rarely afford to fund all promising R & D projects. It is the subsequent path to technological innovation that is typically fraught with numerous obstacles to be overcome, if the R & D invention is to be commercially successful.

Click Here To Learn More!

Managing the innovation process may perhaps be compared with breeding and training a horse to finish in the first three places in the English Grand National or other such steeplechases. Although many horses may be bred and trained to come under "starters-orders," in any year only three horses perform well enough over the fences to win the first three places in the race and to win prize money for their owners and bets for their backers. Managing the innovation process in larger companies essentially requires breeding a stable of promising R & D inventions, some of which are developed into product innovations in the expectation that they will prove to be commercially successful "winners."

POST COMMENT

Four Innovations Included in a Versa Lift Platform Jordan operating shoes - techniques best Innovation Nike started to rely on innovation Why The Merc Innovates Positive Response To The Financial Crisis, Creating Dynamic Zhanyang Technological Innovation - Dmls A Prototyping Innovation Togethergreen Awards $1.1 Million For Innovation Grants WHETHER PRIOR EXPERIENCE IS NECESSARY FOR INNOVATION Bottom of the Pyramid (BoP) in India: The Global Research & Innovation Hub How Insider's Perspective Can Accelerate Innovation The Cement Industries Are Being Awarded For Going Above & Beyond in Green Innovation Binary Continuous Innovation And Leading Shoe Jump - China Slitting Machine - Forming Machine Need Referrals for Trainn (Transcendant Innovations)? Why You Should Give Up