exam2notes - Ch. 7) Technology cycle- a cycle that begins...

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Ch. 7) Technology cycle- a cycle that begins with the birth of new technology and ends with the death of that technology and replaced by new technology S Curve Pattern on Innovation- A pattern of technological innovation characterized by slow initial progress, then rapid progress, and then slow progress again as a technology matures and reaches its limits. Innovation Streams- patterns of innovation over time that can create sustainable competitive advantage like Taylormade creating new clubs each year Technological discontinuity- the first stage of innovation stream where a scientific advance or unique combination of existing technologies that creates a significant breakthrough in performance or function like CD replacing audiotapes Discontinuous change- the second stage characterized by technological substitution like a 460 driver with a square head. Technological substitutions- the purchase of new technologies to replace older ones Design competition- competition between old and new technologies to establish a new technological standard or dominant design like traditional shaped drivers competing with square drivers Dominant design- critical cell mass, solves a practical problem, independent standards bodies a new technological design or process that becomes accepted like buying only square drivers. Technological lockout- when domain design prevents a company from selling its products like RCA trying to still sell CD players against MP3 players. Incremental change- the phase of a technology cycle in which companies innovate by lowering costs and improving the function of a dominant design Creative work environments- environments that promote creativity through challenging work, encouragement through organization, supervisors, and workers, freedom, and lack of impediments. Flow- psychological state where you are working and time flies (Experiential approach to innovation- assumes uncertain environment and uses intuition, flexible options, and hands-on experience to reduce uncertainty and accelerate learning, goals are for speed- improvements in performance and dominant design, approach is to build new and different, steps- design iteration, testing, milestones, multifunctional teams, powerful leaders) ( Compression approach to innovation- assumes incremental innovation can be planned using a series of steps and that compressing those steps can speed innovation, environment is certain, goals are for speed- lower cost incremental improvements, approach is to compress time and steps, steps- planning supplier involvement shortening time overlapping steps multifunctional teams) Generational change- change based on incremental improvements to dominant technological design where the new technology is compatible with the old Blinded stage- decline due to failure to see, lack of awareness Inaction stage- problems become more visible but still no action is taken, hope problems will fix themselves Faulty action stage- belt-tightening plans to cut costs, increase efficiency, running a tighter ship. Crisis stage-
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