Explain the balance between innovation and operational excellence required for business growth.
The Final Project requires the completion of a comprehensive technology innovation management process that includes the following sections based on the course learning outcomes (CLOs) and a single program learning outcome (PLO).
CLOs:
Explain the balance between innovation and operational excellence required for business growth.
Examine the opportunities and risks presented by adoption of a new technology in an organization.
Determine the appropriate enterprise, processes, and technologies for promoting the business values.
Outline the skill sets required from a technology manager to leverage the full potential of technology and human resources.
Selected PLO
Identify, model and promote the required management and leadership skills to succeed in a culture of innovation.
You have a choice of examining an existing innovative technology company or a fictitious technology innovation company that you have been dreaming about. Please review all the required sections (below) prior to your selection. In either case, the final Project will be a complete assessment of Technology Innovation Management for the company you selected by addressing each required section described below.
The Project
This project will have 7 sections. The 7 sections will include: An introduction; each of the 4 CLOs (Course Learning Outcome), and one of our PLOs (Program Learning Outcome) as listed above, plus a bibliography. Each section will be between 0.5 to 3 pages as indicated in the project outline in standard APA format. The total pages for this project is expected to be between 13 and 20 pages.
Here is how to prepare your project based on managing the innovative technology of the company of your choice.
Section 1:
Introduction (one page)
There is an intense pressure on the companies to compete through innovation.
Introduce your company and the innovative technologies in the company. (one half of a page)
Examine the reasons the innovation in your company is going to result in a successful process or product? (one quarter of a page)
Examine the underlying benefits anticipated with the introduction of this new product or process innovation. (one quarter of a page)
Section 2:
CLO 1: Explain the balance between innovation and operational excellence required for business growth. (two pages)
Operational excellence is achieving higher levels of efficiency and productivity in operations resulting in higher profitability. Explain the state of readiness of your organization and corporate culture required for embracing innovation. To answer this question, you need to do the following:
Analyze the openness of the organization to rapid, disruptive change. (one quarter of a page)
Examine the layers of management involved in decision making. (one quarter of a page)
Examine how management and staff accept and pursue the implementation of new technologies with ease. (one quarter of a page)
Examine management’s support of changes to business processes. Support your conclusion with examples. (one quarter of a page)
Explain how the innovative product or process aligns with corporate strategy. (one half of a page)
Analyze the degree in which performance is managed and evaluated in the organization. (one quarter of a page)
Assess how the work team’s performance is evaluated and improved in the company. (one quarter of a page)
Section 3:
CLO 2: Examine the opportunities and risks presented by adoption of a new technology in an organization. (two pages)
One of the key challenges in adoption of a new technology is that organizational operations were structured for different needs prior to this adoption. Answer the following as they relate to your choice of company
Explain what types of IT structural changes are required for effective enabling mechanisms to adapt to change. (one half of a page)
A successful adoption requires a supporting organizational context.
Explain the types of changes that you anticipate in the organization (operational, processes, managerial, etc.) with this new adoption. (one half of a page)
Describe actions you will take to promote the effective deployment of the new technology in your organization based on the anticipated changes? (one page)
Section 4:
CLO 3: Determine the appropriate enterprise, processes, and technologies for promoting the business values. (two and a half pages)
In our text book, the section on Creating Value Through Innovation, Tidd and Bessant state that:
“The capacity of the firm to appropriate the benefits of its investment in technology depends on: Its ability to translate its technological advantage into commercially viable products or processes, for example, through complementary assets or capabilities in marketing and distribution; and its capacity to defend its advantage against imitators, for example, through secrecy, standards or intellectual property (2020).”
First address the complementary assets, capabilities in marketing and distribution.
Describe the complementary assets required for the success of this innovative technology such as brand, support and services, global sales, production, marketing, etc. (one half of a page)
Analyze the best practices in promoting your innovative product or process in the global market by applying the opportunities provided in marketing and distribution by technology. (one half of a page)
Identify firms with complementary assets that could contribute significantly to your company performance and the new product development. (one half of a page)
Next you will address the protection of intellectual property for promoting the business values.
Analyze the best method for protecting the intellectual property for this innovative technology. (one half of a page)
Justify which commercialization of this invention works better for your company, licensing, selling the intellectual property rights, or developing new processes, products or businesses for the company. (one half of a page)
Section 5:
CLO 4: Outline the skill sets required from a technology manager to leverage the full potential of technology and human resources. (two and a half pages)
Managers must be able to recognize and translate the human resources’ creativity into innovation. Innovation is the result of implementing the ideas into some useful products or processes. Individuals are the sources of many innovations and establishing new companies. Some process innovations are not aimed on making more money, but creating social values such as poverty relief, environment sustainability, community development etc.
Pay attention to the statement from Tidd and Bessant in Chapter 3 of our text, “Innovation is a management question, in the sense that there are choices to be made about resources and their disposition and coordination. Close analysis of many technological innovations over the years reveals that although there are technical difficulties – bugs to fix, teething troubles to be resolved and the occasional major technical barrier to surmount – the majority of failures are due to some weakness in the way the process is managed. Success in innovation appears to depend upon two key ingredients technical resources (people, equipment, knowledge, money, etc.) and the capabilities in the organization to manage them (2020).”
In this section, you will analyze how to improve the odds of success with your company’s innovation.
Analyze various methods you will use for selecting and managing innovation projects. Explain strengths and weaknesses of each method as it applies to the development of your innovative product. Please note that in innovative products, the choices are driven by strategic implications rather than strictly financial analysis. (one and one quarter pages)
Determine effective implementation mechanisms to move your technology innovation from idea or opportunity through to reality. (one and one quarter pages)
Section 6:
PLO 2: Identify, model and promote the required management and leadership skills to succeed in a culture of innovation. (three pages)
During the last five weeks you learned to look at the innovation as a process. This understanding is the base of innovation management. In this section, you will apply this concept to your selected innovative technology.
Identify and model the required management and leadership skills in a culture of innovation. As we learned in this course, the authors consider three dimensions of leadership in an innovation climate: “concern for task; concern for people; and concern for change.” The first two concerns are common leadership concerns. The concern for change is added for leadership in a culture of innovation. Rapid change in a climate of high uncertainty differentiates the innovation leadership from a traditional one. As a leader of technology, you build routines and then you need to be able to recognize when to destroy those routines for the newer ones that have emerged.
Identify the routines that must be destroyed due to emergence of the new technology in your company. Explain how you manage the problem of letting go, or the “unlearning” of the status quo in favor of the new technology. (one half of a page)
Create replacing routines that appropriately support the new technology. (one half of a page)
Based on the type of organization that you have selected (public vs private, size, risk tolerance, etc.) determine the best model for innovation and decision making process in your organization. (one half of a page)
Promote the required management and leadership skills to succeed in a culture of innovation. Leadership must focus on thriving creativity and promoting an environment that encourages innovations.
Examine ways to improve individual and organizational learning capabilities in your company. (one half of a page)
Explain how you will improve the absorptive capacity of your company. (one half of a page)
Explain how to promote this new technology among non-R&D groups and get their buy-in. (one half of a page)
Section 7:
Bibliography (one half of a page)
The Final Project
Must be 13 to 20 double-spaced pages in length (not including title and references pages) and formatted according to APA style (Links to an external site.) as outlined in the
Must use at least two scholarly sources in addition to the course text.
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