TEKNOLOJİ VE YENİLİK YÖNETİMİ - Deneme Sınavı - 9

Innovation has become one of the most frequently used words not only in pop-management books but also in academic business literature. Although making things that you have been doing in better ways or coming up with novel solutions to the ongoing problems is almost as old as humankind, the concept of innovation and technology management and research policy has attracted significant interest starting from the second half of the 20th century.

Organizations and their managers believe that a brighter future is only possible by developing and sustaining innovative capabilities (Christensen and Raynor, 2003). Trott (2017: 5) states that the dominant organizations virtually in every sector are more innovative than their closest rivals.

Today, it is self-evident that innovation tends to bring novelty into the economic sphere, to cluster in specific industries, and is an influential explanatory factor behind differences in the performance of organizations, regions, and countries (Fagerberg,2005: 20).

As a business administration student, you should be able to connect the dots merging these three rankings. That is why, since you are gradually completing your bachelor’s degree, it is time to integrate all you have learned so far with technology and innovation management philosophy and terminology.

Technology and innovation management is a  multidisciplinary field, so the subject changes accordingly. Economists tend to use the term “firm”; business scholars prefer using “business” and “companies” while denoting  the same entity. Although all of them can be used interchangeably, in this chapter, the term organization is used as an umbrella concept covering all the entities mentioned above and not-for-profit/non-governmental  organizations.

James Watt and steam engine (1770 - 1780), Isambard Kingdom Brunel and iron boat (1820 - 1845), George Stephenson and locomotive (1829), Michael Faraday and electromagnetic induction dynamo (1830 - 1840), Thomas
Edison and Joseph Swan and electric lightbulb (1879 - 1880) are all examples of technological innovations from the economic history through which innovating company benefited enormously.

Technological innovations not only provide wealth for the
innovator but also to the country where this has occurred. The industrial revolution, as we call it today, was the result of a series of technological innovations realized throughout the 19th century, which in turn became the primary building block of the progress within the societies for that period; thus, innovation has long been regarded as the engine of growth.

The field now includes sub-fields such as the (a) economics of innovation, technology and growth, (b) management of industrial innovation and the resource-based view of the firm, (c) organizations and innovation, (d) systems of innovation, (e) sociological and other contributions, and (f) measuring technology and innovation.

Schumpeter popularized the term creative destruction, which views innovation as waves of power restructuring the whole market. Joseph Schumpeter argued that organizations and/or entrepreneurs who grasp the discontinuities faster than others will thrive

Later, another economist Paul Romer developed these theories further, and he is said to be responsible for the modern theory of economic growth, which is sometimes called the neo-Schumpeterian economic growth theory.

Schumpeter argued that the development and diffusion of new technologies by profit-seeking entrepreneurs formed economic growth sources, and coined the term creative destruction, which views innovation as waves of power restructuring the whole market. Joseph Schumpeter argued that organizations and/ or entrepreneurs who grasp the discontinuities faster than others will thrive. In this example, we see that Netflix, an innovative initiative, has replaced traditional media, causing creative destruction in the sector.

The correct answer is A.

Diffusion of technology and innovation follows the S-curve type movement, and the respondents can be classified into various categories such as innovators, early adopters, early majority, late majority, and laggards.

The correct answer is E.

Thomas J. Allen introduced the term “technological gatekeepers,” which denotes a crucial role of the people linking the organization with the external environment and vice versa. Characteristics of the technological gatekeepers, or the stars to be in line with Allen’s terminology, are high communicators and high technical performers. These people are seldom found at the top of the hierarchy but are more employed at the lower levels.

The correct answer is B.

Functional level, which can also be classified as departmental level, is about how groups work to perform their work, creating competencies that constitute technology. For example, a group of R&D engineers brainstorm for a product update or an emergency team try to find out a solution for an ongoing crisis. Employees working together at the same department or employees working together cross-functionally use procedures and techniques to find a suitable solution that can be given as an example for this level.

The correct answer is B.

Innovation as a trajectory is defined as a family of innovations to be derived from the source.

The correct answer is C.

Quantum technological change is about a fundamental shift in technology that revolutionizes the products or the way they are used. Quantum innovations related to quantum technological change are described as new products or operating systems that incorporate quantum technological improvements.

The correct answer is D.

Christensen (2003) makes a distinction between disruptive and sustaining innovations. Disruptive innovations are principally not demanded by the current customers; sustaining innovations appeal more to the current customers since these innovations are based on an established product’s betterment. Disruptive innovations introduce improvements more significant than demanded, disrupting established players in the market.

The correct answer is A.

In the technology-push model, the innovation process is initiated by the serendipity of scientists’ unexpected discoveries, technological experts apply these discoveries to new product ideas, engineers and designers transform them into prototypes to be tested before manufacturing experts make the process possible for effective and efficient production. Finally, marketing function comes into play and crafts a sound marketing strategy based on 4Ps. Marketers make decisions mostly on the price, placement, and promotion, and less about the product. The target audience is the passive recipient of the whole process.

The correct answer is D.

Creativity is the thinking of new and novel ideas, whereas innovation is the successful implementation of those ideas.

The correct answer is B.

According to Bessant and Tidd (2015: 16), successful innovators have the following characteristics:

Thus, providing limited flexibility to employees is not one of the characteristics of successful innovators.

The correct answer is C.