Introduction:
It approaches the management of technological innovations from a resource and proficiency based view, which sees technological innovations as an active force of antagonist influence through a combination of internal resources and external interconnections.
On the other hand it can improve the management level of venture. It is also known as integrated planning, design optimization, operation and control of technical products and processes.
The better use of technology for human influence.
There are four different types of innovations:
- Incremental
- Disruptive
- Architectural and Radical
The main thing is that to find the types which suits the company and turn those towards success.
Need:
It is the process of managing innovative ideas. The innovation can improve the productivity. Generates the revenue, increases employee loyalty, save cost. The successful innovation management transforms big ideas into reality.
It allows the organization to redponds towards external as well as internal juncture and use its creativity to introduce new ideas and concepts or even products.
It includes the set of tools which allows managers along with workers or users to cooperate with a mutual understanding of products and goals.
Advantages:
- It helps the business owners keep costs to trifle.
- It is easier, faster, and more impressive communicative.
- There is less wastage.
- More efficient stock management and odering systems.
- The ability to develop new innovative ideas.
- There is more powerful marketing and promotions.
- There are new sales avenues.
Conclusion:
Innovation and technology management environ all measures to promote and use innovations which are used in the company. The fixate is not only on the new, but also on the assistance of innovations.
The main target is to develop new and improved products, new business designs or new processes.
Ideas are always evolved from exchange. It brings benefits for the company and business. It brings productivity and new business for the company.
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