Chapter 7

Management | Prof: Ma’am Geraldine D. Raydanas

Chapter 7: Managing
Technology & Innovation
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Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technology
Innovation
In this part, we will be discussing the
technology life cycle and diffusion of
technological innovations, including how
innovations spread and evolve over time.
 Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technology
Innovation
is defined as the creation and application
of new or improved technologies, tools,
systems, and processes that bring about
significant advancements or breakthroughs
in various fields.

Examples:
Mobile Technology
Smartphones
Social Media
 Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technology Life Cycle

refers to the stages a technology goes through, from its initial
development to its eventual obsolescence. The concept of the
technology life cycle is often used to analyze the dynamics and
evolution of technologies in various industries and markets.

There are typically four stages in the Technology Life Cycle:

Stage 1: The Innovation Stage
Stage 2: The Growth Stage
Stage 3: The Maturity Stage
Stage 4: The Decline Stage
 Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technology Life Cycle

Stage 1: The Stage 2: The Stage 3: The Stage 4: The
Innovation Stage Growth Stage Maturity Stage Decline Stage

This is the earliest stage of The technology begins to The technology has The technology becomes
the technology life cycle, gain wider acceptance become more obsolete or is replaced by
characterized by the initial and adoption, and standardized and widely newer technologies, and
development & introduction demand for the product adopted. The market demand begins to decline.
of a new technology. At this or service increases competition has become Companies may continue
stage, the technology is rapidly. The technology is more intense. Companies to sell the product or
often untested and experi- refined and improved, focus on reducing costs
service, but profits are low,
mental, and there may be and new competitors and increasing efficiency,
and investment in
few or no competitors in enter the market. rather than investing in new
innovation declines.
the market. innovations.
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Chapter 7: Managing Technology and Innovation

Diffusion of
Innovation Model
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Chapter 7: Managing Technology and Innovation

Diffusion of Early Majority

Innovation Model Those who pave the way for the use of innovation
within mainstream society and are part of the general
population.

Innovators Late Majority

Those who are open to risks and the first to People who follow the early majority into adopting
try new ideas. innovation as part of their daily lives and are also part
of the general population.

Early Adopters
Laggards
People who are interested in trying new
technologies and establishing their utility in society. People who lag behind the general population in
adopting innovative products and new ideas.
Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technological Innovation in a
Competitive Environment
is the driving force behind the evolution of industries and the
advancement of societies. It involves continually developing and
applying new ideas, processes, and technologies to gain a
competitive edge in the marketplace.

Explores concepts such as;

Technology Leadership
Technology Followership
Chapter 7 Reporters Technology Inno...

Chapter 7: Managing Technology and Innovation

Technological
Innovation in a
Competitive Technology Leadership Technology Followership

Environment
refers to the position of an involves organizations or individuals
organization or individual as the adopting and adapting existing
foremost innovator in a particular technologies pioneered by leaders
field or industry. in the field.

Example: Example:
Apple Inc. - Renowned for its cutting- Samsung Electronics - Samsung has
edge products like the iPhone and demonstrated followership by
MacBook, Apple has established itself swiftly incorporating similar features
as a technology leader by continually into its Galaxy series and leveraging
pushing the boundaries of innovation its manufacturing prowess to
in consumer electronics. compete effectively in the market.
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Chapter 7: Managing Technology and Innovation

Assessing Technology Needs

HOW?
is an important step in determining the requirements
and resources necessary for an organization or indivi-
dual. It involves evaluating current technologies in use,
analyzing their effectiveness, and identifying gaps or
areas for improvement.
Measuring Current Technologies
involves evaluating the existing technological
infrastructure, systems, and tools within an
organization.

Assessing External Technological Trends

involves monitoring developments and innovations
in the broader technology landscape outside the
organization.
 Chapter 7 Reporters Technology... Assessing Techno... Key Factors to Con...

Chapter 7: Managing Technology and Innovation

Key Factors to Consider in Technology Decisions

Anticipated Technological Economic Anticipated Organizational

Market Recep- Feasibility Viability Capability Suitability
tiveness Development
This involves evaluating Assess the financial Whether your
Understanding whether the technology aspects of the The potential for the organization has the
customer needs, can be developed and technology decision, technology to evolve necessary resources,
preferences, and implemented including the cost of and improve over time. skills, and culture to
trends can help successfully. development, Anticipating future adopt and leverage the
predict how implementation, capabilities can help technology effectively.
receptive the maintenance, and ensure that your
market will be to potential returns on technology remains
your technology. investment. valuable and sustai-
nable in the long run.
 Chapter 7 Reporters Technology... Assessing Techno... Key Factors t.. Sourcing and Acqui...

Chapter 7: Managing Technology and Innovation

Sourcing and Acquiring

New Technologies

Internal Development Technology Trading

often involves building or enhancing capabilities within a method of acquiring new technologies by engaging in
a company to create or integrate innovative products transactions with other entities, such as companies/ indi-
or services. viduals, who possess or develop those technologies.

Purchase Licensing
refers to the process of obtaining new hardware, involves one party (the licensor) granting another party
software, or cloud services to meet the needs of an (the licensee) the right to use, modify, or distribute their
organization. technology under specified terms and conditions.
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Chapter 7: Managing Technology and Innovation

Sourcing and Acquiring

New Technologies

Contracted Development Acquisition of an Owner

a company outsources the development of a new
of the Technology
technology to a third-party vendor or a specialized
companies acquire other firms that already own or
development firm.
have developed the desired technology, thereby
gaining immediate access to the technology and
Research Partnerships related intellectual property.

& Joint Ventures

organizations collaborate with institutions, universities, or
other companies to jointly conduct research & development
activities aimed at creating new technologies.
Chapter 7 Reporters Technology... Assessing Techno... Key Factors t.. Sourcin.. Technology and M...

Chapter 7: Managing Technology and Innovation

Technology and Managerial Roles

Managers play a crucial role in driving technological innovation within organizations and
effectively managing the integration of new technologies.

1. Setting Vision and Strategy 6. Risk Management and Change Leadership

2. Resource Allocation and Budgeting 7. Vendor Management and Partnerships
3. Fostering a Culture of Innovation 8. Performance Measurement and Evaluation
4. Cross-Functional Collaboration 9. Adapting to Market Dynamics
5. Identifying Emerging Technologies 10. Continuous Learning and Development
Chapter 7 Reporters Technolo... Assessing Techno... Key Factors.. Sourci.. Technolo... Organizing for Inno...

Chapter 7: Managing Technology and Innovation

Organizing for Innovation

01 Unleashing Creativity

02 Bureaucracy Busting

03 Design Thinking

04 Implementing Development Projects

05 Technology, Job Design, and Human Resources

 Chapter 7 Reporters Technolo... Assessing Techno... Key Factors.. Sourci.. Technolo... Organizing for Inno...

Chapter 7: Managing Technology and Innovation

Organizing for Innovation

Unleashing Creativity Implementing Development Projects
Creativity is the spark that propels organizations A project implementation plan combines process,
forward, enabling them to tackle challenges, embrace action, and strategy. It is also referred to as a stra-
change, and pioneer groundbreaking solutions. tegic plan.

Bureaucracy Busting Technology, Job Design

The process of engaging individuals from across an & Human Resources
organization in identifying and improving or stopping
The perfect strategic business partner within the
activities that add little or no value, or which
business to help develop and sustain a culture of
introduce too much friction to operations.
innovation and attract and incentivize key talent for
innovation.
Design Thinking
The non-linear, iterative process of design thinking to better understand users, question
presumptions, reframe issues, and come up with novel prototype and testing solutions.
Chapter 7 Reporters Technolo... Assessing Techno... Key Factors.. Sourci.. Technolo... Chapter 7

Chapter 7: Managing Technology and Innovation

Chapter 7: Managing
Technology & Innovation
Group Four | BSBA MKT - 1B