\"How to Put Technology into Corporate Planning\" discusses how technological in
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Question
"How to Put Technology into Corporate Planning" discusses how technological innovation may be quantified as a valuable asset in a large company if it is properly perceived. This includes defining fundamentally what the innovative technology is in terms of unit of technology, as well as how it affects the seven dimensions of acceptability. By creating a table of company principal products versus units of technology one can track which innovative technologies should be further investigated due to their potential improvement on numerous products. It also suggests that you contemplate how the company you work for views innovative technology. If you work for a company that manufactures a product, the confidence in innovative technology by senior management may be reflected in the handling of the R&D department. If you work for a design company the confidence in innovative technology by senior management may be reflected in the handling of specialists who work with vendors on incorporating new technology into design.
Questions
How is technological innovation perceived and responded to by your senior management? Is it embraced or always rejected? Rejection may be the conservative, low-risk path.
How has management used innovative technology to implement strategic objectives?
How have technologically innovative opportunities been monitored? Does management encourage potential technologically innovative improvements?
How are technologically innovative opportunities organized within your company? What is the size of your R&D department, or how many specialized personnel does your company employ?
Explanation / Answer
Technological innovation is often weighed in terms of investment against the perceived benefits. If the management believes that the investment is worth taking the risk and will be worthwhile in the long run, it is accepted.
The innovative methods that help in achieving the strategic objectives of the organisation are implemented in form of an integrated enterprise resource planning system, use of employee up Skilling and assessment softwares, continuous improvement initiatives with monitoring, evaluation and correction of business processes and analysing the responses for Assessing suitability, effectiveness and ROI.
Management encourages individual participation and welcomes innovative suggestions with considerable freedom to ideate and implement. However the objectives should be justified and the outcomes should be measurable. The outcomes are evaluated and ideas are appreciated even when they failed. The R&D dept. has six members who are technically competent and have innovative thinking.
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