Technological
innovation
Technological innovation is an extended
concept of innovation. While innovation
is a rather well-defined concept, it has a
broad meaning to many people, and
especially numerous understanding in
the academic and business world.
[1]
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Innovation, refers to adding extra steps
of developing new services and products
in the marketplace or in the public that
fulfill unaddressed needs or solve
problems that were not in the past.
Technological Innovation, however
focuses on the technological aspects of
a product or service rather than covering
the entire organization business model. It
is important to clarify that Innovation is
not only driven by technology.
Technological innovation is the process
where an organization (or a group of
people working outside a structured
Definition
organization) embarks in a journey where
the importance of technology as a
source of innovation has been identified
as a critical success factor for increased
market competitiveness.
[2]
The wording
"technological innovation" is preferred to
"technology innovation". "Technology
innovation" gives a sense of working on
technology for the sake of technology.
"Technological innovation" better reflects
the business consideration of improving
business value by working on
technological aspects of the product or
services. Moreover, in a vast majority of
products and services, there is not one
unique technology at the heart of the
system. It is the combination, the
integration and interaction of different
technologies that make the product or
service successful.
If the process of technological innovation
is formalized (typically within an
organization: a company, a public entity,
a think tank, a university, etc.) it can be
referred as Technological Innovation
Management (or Technology Innovation
Management - TIM). The "management"
aspect refers to the inputs, outputs and
constraints a "Manager" or team of
"Managers" are responsible to govern the
process of technological innovation in a
Process
way that aligns with the company
strategy. In a context where
Technological Innovation is not to be
guided along known paths within the
organization, the wording and concept of
Technological Innovation Leadership is
preferred. In many occasion, especially in
start-ups and new ventures, the
Technological Innovation is performed in
an unknown context. The boundaries and
constraints of the Technology at work
are not precisely know. Hence it requires
leaders and not managers to give the
vision and coach the team to explore the
unknown part of the technology.
Corollary
Technological Innovation:
is a continuous process, within an
internal or external venture, build-out to
create value with innovation;
starts with the ideation process and
ends-up with the commercialization of
a viable product or service, in response
to a proven market need;
is a guide for the venture management
to decide what technology directions
to take, based on portfolio
management, and execution
monitoring;
is driven by entrepreneurial /
intrapreneurial spirit, supported by
internal / external funding
Last edited 2 months ago by Monkbot
1. [http://www.europeanbusinessreview
.com/technological-innovation-
entrepreneurship-and-development/
Technological Innovation,
Entrepreneurshp, and Fernanda
2. "Innovation Questions and
Answers" . Retrieved 2018-11-08.
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References
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