Innovation and technology management Essay Example | Topics and Well Written Essays - 2750 words

Innovation and technology management - Essay Example During the recession in 2008, the owners of different companies worldwide were focused towards growth and they predicted that technological innovation would be the main source of success for the companies. In such a situation, The CEOs of the companies employed technology to gain success and differentiation simultaneously (Orcale, 2012, p. 1-10; Jaruzelski, Loeher and Holman, 2012, pp. 16-24). According to the survey conducted by PricewaterhouseCoopers (PwC) in 2011, about 80% of the CEOs of the companies operating globally believed that innovation is main driver for organisational efficiency and aims at building competitive advantage. From the survey results, it was observed that about 70% of CEOs had invested in undertaking technological up gradation to reduce the cost of the companies and in return became more efficient (Orcale, 2012, p. 1-10; Jaruzelski, Loeher and Holman, 2012, pp. 16-24). However, it is also evident that even technological advancement cannot deliver success until and unless business goals and strategies are developed and focused. Thus, it is pivotal to understand the condition of the company before undertaking any innovation process. The role of innovation is evaluated so as to ensure that it will lead to profitable growth. The changes in the company operation are evident when technological innovation is required (Orcale, 2012, p. 1-10). Innovation can take place in a number of ways; in a technological change highlights the types of products and services that can be produced by the company or change in business model that aims at delivering the initial value of the company (Jaruzelski, Loeher and Holman, 2012, pp. 16-24). Hence, it is quite evident that the companies should recognise the type of innovation that is required for the development of their business so as to sustain in the long run. The types of innovation are incremental, radical and breakthrough innovations. These innovations are

Knowledge management plan Essay Example | Topics and Well Written Essays - 3000 words

Knowledge management plan - Essay Example Over the past decade or so, there has been a major push for a more structured leadership training experience; a train-the-trainer approach, and so I will be addressing to the High Minister (leader) and CEO (Middle-level leaders) of each department. So, in this paper after analyzing the organizational issues necessitating changes, I will recommend interventions like equipping and making the leaders to imbue KM more optimally in the organization, make middle level leaders contribute to that process and finally make sharing knowledge crucial part in all levels within the organizational structure. For any organization in any sector, it cannot be smooth flow all the time, as they will face certain organizational problems or issues both in its internal as well as in the external environment. Problems or issues in the internal environment could only make a major impact on the organization than the external issues, and also they are the ones, which can be handled by the leaders, management and the employees. Internal problems or issues could be due to lack of performance in various aspects by the employees, managers and even leaders – the human angle. On the other hand, even if the employees perform, issues could arise if there is any loophole or shortfalls in the specific organizational processes. More importantly, some processes or employees will be going on fine, however slight optimization of those processes or employees, could give better results. This is where the need for change management will come into the picture and through that, helpful systems like Knowledge M anagement System (KMS). â€Å"Due to the rapidly changing global economy businesses need to consider a serious change in strategy, and begin to focus more on knowledge management even at the mundane line levels.† (Switzer, 2008). Knowledge is often referred to as the basis of communication and even seen as power, an asset that is