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Technology and
Innovation Strategic
Perspective
- Dr. Akshay Joshi
• New technologies that evolved from the
cumulative innovations of the past half century
brought dramatic changes in the way goods and
services are produced and distributed.
• Examples:
Increasing use of the Internet
A flood of startups
Vast changes in production and distribution networks
A recent McKinsey report sums up how technology and
innovation are changing how business is done as follows:
More
Customers
The process whereby new and improved
products, processes, material, and services are
developed and transferred to a plant and/or
market where they are appropriate.
Just-in-time (JIT) Inventory Management
• A process innovation that ensures the inputs into
a production process are there just as they are
needed for the process.
• Such a process innovation allows firms to save on
storage and capital costs.
A comprehensive approach to managerial
problem solving and action based on an
integrative problem solving framework, and an
understanding of the linkages between
innovation streams, organizational teams, and
organization evolution.
• It is about implementation—managing politics,
control, and individual resistance to change.
• The manager is an architect/engineer,
politician/network builder, and artist/scientist.
Managing the Innovation Process
• Separate funds for innovation
• Periodically review informal proposals using a group
outside of line management
• Provide clear direction on studies to be done and
follow-ups that are expected
• Engage in boundary-spanning activities to learn
from and to gain understanding of what others are
doing
• Set realistic expectations
• Provide a supportive atmosphere for “debugging”
and exploring variations as well as appropriate
resources for maintenance and service
Characteristics of individual that enhance
the initiative that sparks innovation:
• Asking questions to identify problems and
opportunities
• Learning new skills