knowledge skills technology innoventures
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TECHNOLOGY – ASPECTS AND ISSUES
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TECHNOLOGY
TECHNOLOGY is derived
from the Greek words Techno and
loges
Techno – skill or craft needed
To make something
Loges – knowledge of something
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TECHNOLOGY - CHARACTERISTICS
Involves purposive application of various fields of science and technology
Used to provide products for human sustenance and comfort
Has both public and private components
It is complex in nature
It is dependent on other technologies
It has high degree of valence – variation of the same part
It is big in scale
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TECHNOLOGICAL PROGRESS
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Direct and Indirect Effects of Technology
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TYPES OF TECHNOLOGIES
• Hard and Soft Technologies
- Hard ( Equipment, Mc Tools, Physical Infrastructure)
- Soft ( Skills, methods, systems, procedures etc)
• Generic, Basic and Key Technologies
- Generic (fairly common use across industry e.g gearbox, conveyors
- Basic ( specific to a certain system /user e.g use of optical scanner for
quality
• Embodied and Disembodied Technologies
- Embodied Technologies( encapsulated in the products and physical
equipment e.g. mobiles, hydraulic press
- Disembodied Technologies ( mainly intangible in nature and there is no
specific
product that gives it a character e.g quality assurance program in a
factory)
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TYPES OF TECHNOLOGIES
• System and Infra Technologies
- System ( evolve by combining different technologies through IT e.g FMS)
- Infra ( group of technologies that support R&D e.g measurement and
test methods )
• Disruptive and Sustaining Technologies
- Disruptive (technology that helps create new markets and value network
e g desktop
- Sustaining ( creates improvement in existing products
• Hybrid and Emerging Technologies
- Hybrid Technologies( evolved by combining features of two technologies
e.g. digital camera
- Emerging Technologies ( is in an advanced stage of development and
research e.g nanotechnology)
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TECHNOLOGY PORTFOLIO
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ROLE AND IMPORTANCE OF TECHNOLOGY
MANAGEMENT
PRE-REQUISITES FOR STARTING A NEW FIRM BASED ON
TECHNOLOGICAL
INNOVATION
The idea of technological innovation
A potential market
Teamwork in both technological and business expertise
IMPLEMENTATION STRATEGY
Business Plan
Technology and Competition
- New Ventures
- Innovation
- Research
- Research Infrastructure
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S CURVE OF TECHNOLOGY PROCESS
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TECHNOLOGY LIFE CYCLE
• Innovation Stage : This stage represents the birth of a new product, material or
process
resulting from R&D activities.
• Syndication Stage : This stage represents the demonstration( pilot production) and
commercialization of a new technology( product, material or process) with potential
for
immediate utilization
• Diffusion Stage :This represents the market penetration of a new technology
through acceptance of the innovation by potential users of the technology.
• Substitution Stage : The last stage represents the decline in its use and eventual
extension of a
technology due to replacement by another technology.
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TECHNOLOGICAL ADOPTION LIFE CYCLE
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TECHNOLOGICAL ADOPTION
PROPOUNDED BY EVERETT ROGERS IN 19
Stage Percentag Characteristics
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Innovators 2.5 % Consumers willing to take risks, usually
younger, have more financial flexibility and
regularly in tune with sources of innovation
Early Adapters 13.5 % Tend to be younger, have more financial
flexibility, have a higher education level and are
more likely to be opinion leaders/influencers.
This group watches closely the new innovations
in the market and more selective while making
purchase decisions
Early Majority 34% More conservative and risk averse when it
comes to making financial decisions and looks to
innovators and early adapters for feedback. This
group drives the market share for the product
Late Majority 34% Adopts the innovation way after and is skeptical
and has less financial flexibility. At this stage
product reaches full maturity of the market
Laggards 16% This group shows an aversion to change and not 15
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Speed of Using Technological Development into
Social Use
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TECHNOLOGY DEVELOPMENT FRAMEWORK
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DRIVERS OF INNOVATION PROCESS
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INNOVATION LED GROWTH – FOUR PATHWAYS
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PERROW’S TYPOLOGY OF TECHNOLOGY
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DEGREE OF NEWNESS OF A TECHNOLOGY
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TECHNOLOGY PORTFOLIO ANALYSIS
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LOW END TECHNOLOGY DISRUPTION
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CHANGING ORIENTATION OF BUSINESS
ORGANIZATION
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