Technological innovation

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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

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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

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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

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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

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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

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  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.

Retrieved from

"

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title=Technological_innovation&oldid=992347275

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References

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