Formulating Technological Innovation Strategy
==== THE ORGANIZATION IS TESLA ====
The impact of technological advances on the business environment cannot be disputed.
Understanding technological innovations and trends is vital to the success of an organization and theindustry as a whole.
In this Assignment, you will be assessed on the following outcome:
MT451-2: Evaluate technological applications using a technological innovation framework.
Assignment:
Using your selected organization, you will conduct an internal and external analysis used within their technology innovation framework.
Answer the following questions in a 23 page Word document, in addition to the title and reference
pages:
Conduct an external and internal analysis on your selected organization. Either use the
approaches discussed in the textbook and/or an S.W.O.T analysis. Based on this information,
what is its current market position? Be specific and backup up your analysis with facts and
evidence.
Identify the core competencies, as discussed in the textbook, of your organization. What role
do they play in helping the organization achieve its marketing position? Remember: products
are not core competencies.
Evaluate the processes and approaches within the technological innovation framework used
by the company.
In your paper, be sure to include the following critical elements:
1. Conduct an internal and external analysis.
2. Identify core competencies.
3. Evaluate the processes and approaches within technological innovation framework used by the
company.
Assignment Checklist:
This Assignment should be in a 23 page Word document, in addition to the title and reference
pages.
It must be written in Standard English and demonstrate exceptional content, organization,
style, and grammar and mechanics.
Respond to the questions in a thorough manner, providing specific examples where asked.
Your paper should provide a clearly established and sustained viewpoint and purpose.
Your writing should be well ordered, logical and unified, as well as original and insightful.
A separate page at the end of your research paper should contain a list of references, in APA
format. Use your textbook, the Library, and the internet for research.
Remember that APA uses both in-text citations and a reference list with hanging indents (both
are required).
If you need help with these requirements, please use the Writing Center accessed through the
Academic Success Center within the Academic Tools area of the course.
Review the grading Rubric to ensure all points have been captured in the paper.
Notes from submitter:
External analysis can be SWOT, Porter’s Five Forces, or stakeholder.
Internal Analysis
The analysis of the internal environment of the firm most often begins with identifying the firms strengths and weaknesses. Sometimes this task is organized by examining each of the activities of the value chain. In Michael Porters model of a value chain, activities are divided into primary activities and support activities. Primary activities include inbound logistics (all activities required to receive, store, and disseminate inputs), operations (activities involved in the transformation of inputs into outputs), outbound logistics (activities required to collect, store, and distribute outputs), marketing and sales (activities to inform buyers about products and services and to induce their purchase), and service (after-sales activities required to keep the product or service working effectively). Support activities include procurement (the acquisition of inputs, but not their physical transfer, as that would be covered in inbound logistics), human resource management (activities such as recruiting, hiring, training, and compensating personnel), technology development (activities involved in developing and managing equipment, hardware, software, procedures, and knowledge necessary to transform inputs into outputs), and infrastructure (functions such as accounting, legal counsel, finance, planning, public affairs, government relations, quality assurance, and general management necessary to ensure smooth functioning of the firm). This generic model can be adapted to better fit a particular firms needs. For example, for a biotechnology firm or software developer, research and development is likely to be a primary activity and inbound logistics may be insignificant.
Core Competencies
A companys core competencies are typically considered to be those that differentiate it strategically. A core competency is more than just a core technology. A core competency arises from a firms ability to combine and harmonize multiple primary abilities in which the firm excels into a few key building blocks of specialized expertise. Competencies often combine different kinds of abilities, such as abilities in managing the market interface (e.g., advertising, distribution), building and managing an effective infrastructure (e.g., information systems, logistics management), and technological abilities (e.g., applied science, process design). This combination and harmonization of multiple abilities make core competencies difficult to imitate. Consider, for example, Sonys core competency in miniaturization. This competency arises from the harmonization of multiple technologies (liquid crystal displays, semiconductors, etc.) and is leveraged into multiple markets (televisions, radios, personal digital assistants, etc.). A firms core competencies also depend on building high-quality relationships across different functions and business units.
Prahalad and Hamel compare core competencies to roots, from which grow core products such as major components or subassemblies. Core products, in turn, give rise to business units, whose fruits are the various end products of the company
Technological Innovation Framework
The class textbook calls this “Aggregate Project Planning Framework”. I’ll attach screenshots of the text from the book regarding it.
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