Management of Technological Innovation

Max out credit cards develop new product establish

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Low market share, low growth: dogs: sell! Big mistake: mature businesses can use technology, too: Standardize product Quality control: make sure everything coming down the assembly line is to company’s standard Re- engineer (rationalize) system with robots and IT Cost control: Bulk purchasing Minimize inventory Eliminate unnecessary steps Innovate as needed Introducing new operating technology in a mature organization: Rationalize before you introduce new technology Be aware of the organizational and human consequences of introduction of new technology Co- opt or retrain those responsible for implementation: teachers, salespeople, distributors Start- up firm, state- of- the- art technology: High tech business venture: New product based on new technology focus on identified market and its requirements initial venture team: technology and product design production management marketing management capital and financial management Critical events in the life of a venture: Start- up capital (max out credit cards) Develop new product Establish production Sales grow Revenue grows Production expands 2nd round of finance find new markets Meet competitive challenges Im...
View Full Document

Ask a homework question - tutors are online