Innovation Approach

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TECHNOLOGICALINNOVATIONS.pptx

TECHNOLOGICAL INNOVATIONS

ANALYZING INNOVATIONS

Nipa Patel

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Types of Innovation

Component Level

Improvements on the technology of components

Existing systems with new components.

Performance improvement of components wiitha dvanced material

System Level

New versions of motorcar, aeroplane, tv.

New generation devices e.g Mp3 and download vs cd.

Bio-technology, team power,and ICT ‘revolution’,

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The main reason as to bring innovation is to help the company to offer the right product to the market and also help the market to gain its market share. There is need to innovate so that our products can be competitive in the rapidly growing market. Our cars have sensors and computers, and our technology expertise is competitive. We have some connectivity—driver appsfor keyless start and OnStar connectivity to detect accidents and alert first responders. This innovations are both at the component level and the system level (Nambisan et al 2017).

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POTENTIAL Incremental innovations

Improvements on the technology of components

New versions of motor car, aeroplane, tv.

This are incremental innovations because they are designed to improve the services that are currently offered.

Incremental innovations are innovations that are specifically designed to be added to the plan to change the services offered, in this case it will include improving the technological components of the car and introducing new versions. These is a significant opportunity to introduce technology that will improve our customer satisfaction and increase our repair and parts revenue streams by alerting customers to needed maintenance before an expensive breakdown occurs on the road.

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POTENTIAL discontinuous innovations

Embracing new generation Mp3 and getting rid of the old generation.

Getting rid of old ways of powering up and embracing the new ways.

This are regarded as discontinuous because they involve getting rid of other ways by embracing new ones.

These have to do with the practices and services that are currently offered but need to scraped off so as to allow new innovations to come in. In these case, the car components have to be replaced with new technological ones. By taking the leadership position ourselves in the growing market and better protect ourselves from competitors. If we took this path, we would first introduce a new high-end model and, as we brought costs down, rapidly deploy it across our whole product line, using this innovation process to accelerate our ability to innovate (Singh & Gaur, 2018).

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Potential Path of The Organization

Information Intensive Technological Trajectory which entails:

Publishing.

Travel.

Finance

Retailing.

The suppliers of software and systems departs are the mainsource of technology.

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This is basically the strategy of implementation that we can take to achieve our goal and the informational intensive technological trajectory is best suited as it covers the financial, retailing, publishing and the travel aspects.

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Cont. Potential Path of The Organization

Innovation strategies are tasked with:

Position: Offer new products and services.

Paths: Design and operation of complex information processing systems.

Process: Matching user needs with IT-opportunities

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In these trajectory there are three main tasks that are involved that is, the position which is to offer new products and services, the path, that is the design and the operation of complex information processing systems and the process, to enable match IT-related opportunities with the needs of the user (Korableva et al 2017, September).

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References

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Nambisan, S., Lyytinen, K., Majchrzak, A., & Song, M. (2017). Digital Innovation Management: Reinventing innovation management research in a digital world. Mis Quarterly, 41(1).

Singh, S. K., & Gaur, S. S. (2018). Entrepreneurship and innovation management in emerging economies. Management Decision.

Korableva, O. N., Gorelov, N. A., & Shulha, M. V. (2017, September). Risk component of innovation management strategy. In European Conference on Innovation and Entrepreneurship (pp. 837-843). Academic Conferences International Limited.

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Thank You

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