Management Innovation and New Technology - Essay Example

Comments (0) Cite this document
Summary
Product innovation Instructor Institution Date Innovation for a number of years has been an area that has drawn divergent views. This claim can be attributed to the fact that technological innovation has been perceived differently in the society (Wield & Rhode, 82)…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Management Innovation and New Technology
Read TextPreview

Extract of sample "Management Innovation and New Technology"

Download file to see previous pages However, modern theories are moving away from this inventor mythology to more holistic approaches that are often based on complete processes and this has led to successful commercialization of new products and processes. An individual can confidently state that product innovation is a complex process rather than a one-day event. This means that there is a lot that is involved in product innovation. A number of insights are evident in the product innovation complexity. To begin with innovation starts and ends with invention (Wield & Rhode, 82). Invention refers to the discovery of new and intelligent ideas and artefacts. Despite the fact, that creating new idea is the baseline of innovation, it is noteworthy that the idea must be sorted out as to whether it is workable and or applicable into the societal context. In other words, innovation takes into consideration adapting the newly found ideas into practical productive application in particular work processes or product markets of a particular firm. The applications should not only be to specific firms but also to the entire economy and into the society. This proposition can be justified by the fact that despite Spencer Silvers discovering the Post-it brand adhesive before 1970 this noble invention was only commercialised in 1978 after the company (3M) had ignored for that long owing to lack of practical applicability (Ketteringham & Nayak 427). Silver’s moment of discovering the Post-it brand adhesive began in 3M’s Central Research Laboratories under program dubbed “Polymers for Adhesives” in 1964. It is unfortunate that despite the fact that silver came up with unique form of adhesive his new idea could not be taken seriously by the management because Silver could not find a problem to apply this great idea. It was until Arthur Fry a 3M chemist, a choir director and an amateur mechanic found a problem to Silver’s idea when he came up with the paper to paper application of the adhesive. According to Wield & Rhode (84), the complexity of product innovation can be understood by withdrawing the assumption that innovation takes a “linear flow”. It is noteworthy that successful innovation has no straight line considering that it does not spring from scientific invention all the way to develop a competitive edge. The nature of the link between a scientific invention and the technological development is in itself very complex and because of this reason, the link has often been confusing. Individuals need to understand that scientific invention benefits a lot from technological development in a number of ways that include but not limited to transfer of knowledge, network of profession, skills and instruments. In the case of 3M, it is evident that the company boasts of a poll of skilled scientists that range from chemists and engineers who worked tirelessly in 3M’s Central Research Laboratories to come up with new inventions. The idea that led into development of one of the best selling product of 3M named Post-it Note Pad resulted from a series of technological developments that took approximately 10 years (Ketteringham & Nayak 425). Successful product innovation is also a matter of interaction between a number of factors within and outside the organization (Wield & Rhode, 84). Studies indicate that those factors that key determinant to the commercial success of a product are found outside the areas which are commonly associated with the with the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Management Innovation and New Technology Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Management Innovation and New Technology Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/management/1463868-management-innovation-and-new-technology
(Management Innovation and New Technology Essay Example | Topics and Well Written Essays - 1000 Words)
Management Innovation and New Technology Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/management/1463868-management-innovation-and-new-technology.
“Management Innovation and New Technology Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/management/1463868-management-innovation-and-new-technology.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Management Innovation and New Technology

Innovation and Technology Management

...?Innovation and Technology Management BLU-RAY versus HD-DVD Introduction The modern technological era is driven by inventions and of the art gadgets. They have totally brought about revolution in the manner in which they operate. While almost all the things around us are technology enabled and have undergone massive changes, the storage concept over the computer medium has equally undergone changes and improvements It all started with a 5.1 inch floppy disk that had the mere capacity of few megabytes of storage. It further improved with time and added few more megabytes. Even till the times of compact disks (CDs), the affairs were being...
6 Pages(1500 words)Essay

Management Innovation and new technology

...? Management Innovation and new technology [Section Number] Management Innovation and new technology Introduction The term ‘Product Innovation’ has been used widely, especially in the industrial sector and has been into several discussions in the last few decades. Companies and brands have been forming innovative tools and strategies to make their products more fascinating and appealing. In reality though, product innovation is not simply an idea; in fact, it is a complete process of research and experiments (Rainey, 2005). The concept of innovation is as old as the history of earth as men have always tried to improve things in their surroundings for the comfort and ease. However, from the history of world businesses, we can see... decades....
4 Pages(1000 words)Essay

Innovation and Technology Management

...? Innovation and Technology Management Currently, the situation of commerce dealings has become highly compound in nature. Acute competitions in almost all the business sectors in the market have forced the firms to promote their quality and quantity of business procedures. A mere rise in the revenue or profit of a firm is not the principal business target. The firms try to gain competitive rewards in the market, either in the form of technical creativity or in the manner of enhanced quality. However, it should also be measured that the public authorities in the economies are highly active in exploiting the welfare of the society and checking on the privileges of the clients and the manufacturers in the market. This essay... of the...
12 Pages(3000 words)Essay

New Technology and Innovation

...and post-adoption beliefs. MIS Quarterly, 23(2), 183-185. Bikson, T. K., & Gutek, B. (1984). Implementation of office automation. . Santa Monica, CA: Rand Corporation. Dieckmann, M. (1996). Making new technology investments pay off. Managing Office Technology, 41(7), 14-16. Damanpour, F. (1987). The adoption of technological, administrative, and ancillary innovations: Impact of organizational factors. Journal of Management, 13(4), 675-688. Baldwin, J. R., & Diverty, B. (1995). Advanced technology use in Canadian manufacturing establishments. Paper presented at the Analytical Studies Branch Research Paper...
8 Pages(2000 words)Essay

Management, Innovation and New Technology

...Management, Innovation and New Technology Table of Contents 3M Introduction 3 The Nature of the Innovation Process of 3M 3 Seven Key Points Offered by Rhodes & Wield to Understand Innovation in 3M 5 Innovation Is Not Just Invention 5 Innovation Is Not a Linear-Flow Process 6 The Importance of Science in Innovation is Increasing 7 Innovation involves Interaction between Many Factors 8 Cultures of Innovation Combine Different Functions 8 Innovation is Usually Incremental 9 Many Innovations Occur Through Learning by Doing...
7 Pages(1750 words)Essay

Technology and innovation management

...Technology and Innovation Management s Submitted by s: 2nd March 4th March, Introduction The modern marketplace is full of competing. The companies in all the sectors always have to come up with products that have relevance to the ultimate users. The products made by the majority of the companies have to be accepted in the market place for them to provide the parent companies with the anticipated returns. In order to produce the products that have a consumer in mind, it is important to incorporate the entire player in the company just as if it was the case in Black & Decker Corporation. Part A In the creation of the cordless drill, the company sought to include all the people in the company that interact with the ultimate user... it assume...
5 Pages(1250 words)Essay

ITM Innovation Technology Management

...technologies was to get into the content business, since content owners have a big influence over which technology standards live or die. Subsequently, provide the best of content services in the market and receive positive response of the customers (The Economist, 2005). The company still managed to provide a range of products over the years, but with the unique advancements of IPHONE and the linked ITunes manager for the music gave edge to the Apple and Sony once again started to lose its market value of walkmans and headphones. Sony needs to work on its technological innovations as the market is growing very rapidly with the...
14 Pages(3500 words)Essay

Innovation and technology management

...Innovation and technology management Table of Contents Table of Contents 2 Introduction 3 Types of innovation 4 Literature Review and Critical Analysis 5 Innovation and technological development in companies 6 Innovation and technological development globally 9 Role of government in fostering innovation 10 Success or failure of companies adopting innovation 10 Barrier to innovation 12 Conclusion/ Recommendation 13 Reference List 15 Bibliography 18 Introduction Presently, in the competitive world of management, it is very difficult for companies to sustain in the long run as number of competitors is increasing rapidly. Hence, in the global scenario, the companies need a driving force to continue their business in the long run... ...
11 Pages(2750 words)Essay

Innovation & Technology Management

.... and Carmona‐Lavado, A., 2014. Internal and external social capital for radical product innovation: Do they always work well together? British Journal of Management, 25(2), pp. 266-284. General Motors, 2014. Design and Technology. [online] Available at: < http://www.gm.com/vision/design_technology.html > [Accessed 29 August 2014]. Kanter, R. M., 2003. From spare change to real change: The social sector as beta site for business innovation. Harvard business review, 77, pp. 122-133. King, R., 2013. Samsung looking for next big thing through new strategy and innovation hub. [online] Available at: new-strategy-and-innovation-hub-7000010783/ > [Accessed 29 August 2014]. Kotabe, M... Innovation Management, 31(2), pp. 313-328. Michell, T., 2010. Samsung...
11 Pages(2750 words)Essay

Management, innovation and new technology

...properly whereas new technologies and innovative ideas help an organization to conquer the business world. The example of Apple Inc. is relevant here. It should be noted that Apple Company was on the verge of destruction in the 80s and 90s mainly because of the competition from arch rival Microsoft. However, the company was able to introduce some innovative products such as iPhone, iPad, iPod, etc at the beginning of 2000. The rest is history now. Apple Inc. became the most valuable technology company at present. Moreover, they pushed Microsoft far behind and became the second biggest company in the world in terms of market capitalization (Kim, 2010)....
9 Pages(2250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Management Innovation and New Technology for FREE!

Contact Us