Such as pollution and medical technologies can have

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such as pollution and medical technologies can have unanticipated consequences. o outsourcing of jobs o loss of some skills and some types of jobs Fact: According to the Organization for International Investment and National Centre for Policy Analysis (2004), the U.S. had received three times more value from jobs coming to the US than it had lost from outsourcing (15 year time frame). Fact: According to Fortune, June 2005, US (540,000) is still the dominate force in world-wide technology and engineering. China (160,000) is growing rapidly, India (130,000) is next followed by Germany (100,000). c. Technology and Innovation—Continuing Advances i. Example is music technology. LPs and 8-tracks have all but disappeared while IPods are growing rapidly. ii. Example in calculation technology. How many of you know how to use a slide rule? III. The Study of Technology, Innovation, and Its Management a. Imperative is Organization-wide Technology and innovation are not just concerned with the creation of new products and processes, but also with how it affects social, legal, and cultural aspects of life within the organization. 1-2
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Bringing a new innovation or technology to the marketplace is a cross discipline effort involving all corporate functions. b. Imperative is Worldwide Students today own products made around the world—clothes from Malaysia, Indonesia, Italy, etc., electronics from Japan, telephones from Finland, cars from South Korea, etc. Most likely students’ careers will involve multi-country aspects. Must pay attention to various institutions. i. Regulatory institutions—the laws and regulations in a given country ii. Normative institutions--the norms of the industry and profession. For example, accountants and medical doctors have similar norms in many different countries. This commonality may involve the attendance of many leading professionals at a few major institutions of education. iii. Cognitive institutions—come from the broader society and shape individual behaviors—shaped principally by the culture of a nation. c. Key is Value Creation The value should lead to profit for the firm. IV. Technology—Definitions. a. Technology is the practical implementation of learning and knowledge by individuals and organizations to aid human endeavor. Technology is the knowledge, products, processes, tools, and systems used in the creation of goods or in the provision of services.
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