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Page 1: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved
Page 2: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Chapter 1

Introduction

Chapter

1

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

Page 3: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Importance of Technological Innovation

• Technological innovation now the single most important driver of competitive success in many industries• Many firms earn over one-third of sales on products

developed within last five years

• Globalization has increased competitive pressure;• Product innovations help firms protect margins by offering

new, differentiated features.• Process innovations help make manufacturing more

efficient.

Page 4: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Importance of Technological Innovation

• Advances in information technology have enabled faster innovation• CAD/CAM systems enable rapid design and shorter

production runs

• Net effect: • Shorter product lifecycles (more rapid product

obsolescence)• More rapid new product introductions• Greater market segmentation

Page 5: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Impact on Society

• Innovation enables a wider range of goods and services to be delivered to people worldwide• More efficient food production, improved medical

technologies, better transportation,etc.

• Increases Gross Domestic Product by making labor and capital more effective and efficient

• However, may result in negative externalities, • E.g., pollution, erosion, antibiotic-resistant bacteria

Page 6: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Impact on Society

• The majority of R&D funds spent in OECD countries come from industry, and percentage has been increasing.

Page 7: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Innovation by Industry: The Importance of Strategy

• To be successful at innovation, firms need carefully crafted strategies and implementation processes.

• Innovation funnel• Most innovative ideas do not become successful new

products.

Page 8: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Research Brief

How long does new product development take?• Study by Abbie Griffin of 116 firms found:

• Length of development cycle varies with innovativeness of project

• Incremental improvements took 8.6 months from concept to market introduction

• Next generation improvements took 22 months.• New-to-the-firm product lines took 36 months• New-to-the-world products took 53 months.• Half of the companies had reduced their cycle time by an

average of 33% over last five years.

Page 9: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

The Strategic Management of Technological Innovation

• Part One: The foundations of technological Innovation• Sources of innovation

• Types and patterns of innovation

• Standards battles and design dominance

• Timing of Entry

Part I: Industry Dynamics of Technological Innovation

Chapter 2Sources of Innovation

Chapter 5Timing of Entry

Chapter 4Standards Battles

and Design Dominance

Chapter 3Types and Patterns

of Innovation

Page 10: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

The Strategic Management of Technological Innovation

• Part Two: Formulating Technological Innovation Strategy• Defining the organization’s strategic direction

• Choosing innovation projects

• Collaboration strategies

• Protecting innovationPart II: Formulating Technological Innovation Strategy

Chapter 6Defining the Organization’s

Strategic Direction

Chapter 9Protecting Innovation

Chapter 8Collaboration

Strategies

Chapter 7Choosing Innovation

Projects

Page 11: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

The Strategic Management of Technological Innovation

• Part Three: Implementing Technological Innovation Strategy• Organizing for innovation

• Managing the new product development process

• Managing new product development teams

• Crafting a deployment strategy

Part III: Implementing Technological Innovation Strategy

Chapter 10Organizing for

Innovation

Chapter 13Crafting a

Deployment Strategy

Chapter 12Managing New

Product Development Teams

Chapter 11Managing the New

Product Development Process

Page 12: Chapter 1 Introduction Chapter 1 McGraw-Hill/Irwin© 2005 The McGraw-Hill Companies, Inc. All rights reserved

Discussion Questions

1. Why is innovation so important for firms to compete in many industries?

2. What are some of the advantages of technological innovation? Disadvantages?

3. Why do you think so many innovation projects fail to generate an economic return?


© 2004 The McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Chapter 17 Pensions

© 2004 The McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Chapter 12 Investments

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 1 Chapter 28 Multimedia

McGraw-Hill©The McGraw-Hill Companies, Inc., 2003 Chapter 3 Data Transmission

The McGraw- McGraw-Hill©The McGraw-Hill Companies, Inc., 2003 Chapter 6 LAN Topologies

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 4 Digital Transmission

McGraw-Hill©The McGraw-Hill Companies, Inc., 2000 Chapter 6 Physical Layer

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 5 Analog Transmission

McGraw-Hill©The McGraw-Hill Companies, Inc., 2003 Chapter 19 Data Encryption

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 2 Network Models

McGraw-Hill©The McGraw-Hill Companies, Inc., 2001 Chapter 22 Transport Layer

McGraw-Hill /Irwin© 2009 The McGraw-Hill Companies, Inc. LEASES Chapter 15

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin LIABILITIES Chapter 10

McGraw-Hill©The McGraw-Hill Companies, Inc., 2000 Chapter 27 Mobile IP

mcgraw hill Chapter 30 the_urinary_system

Sample Chapter 02 - McGraw-Hill

Local Marketing in Mature Markets Chapter Eight. Irwin/McGraw-Hill ©The McGraw-Hill Companies,, Inc., 2000 Irwin/McGraw-Hill ©The McGraw-Hill Companies,,

McGraw-Hill The McGraw-Hill Companies, Inc., 2004 Chapter 15 Wireless LANs

Chapter 2 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, Inc

Irwin/McGraw-Hill The McGraw-Hill Companies, Inc. 2004 1 Forecasting Chapter 11

Chapter 3Three - McGraw-Hill

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 28 Multimedia

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 7 Transmission Media

McGraw-Hill©The McGraw-Hill Companies, Inc., 2000 Chapter 16 Socket Interface

McGraw-Hill /Irwin© 2009 The McGraw-Hill Companies, Inc. INVESTMENTS Chapter 12

McGraw-Hill©The McGraw-Hill Companies, Inc., 2004 Chapter 6 Multiplexing

© The McGraw-Hill Companies, Inc., 2007 McGraw-Hill/Irwin Chapter 6 Inventories

© 2004 McGraw-Hill Ryerson. McGraw-Hill Ryerson CHAPTER 15 Leases

McGraw-Hill©The McGraw-Hill Companies, Inc. Chapter 6 Physical Layer

McGraw-Hill©The McGraw-Hill Companies, Inc., 2001 Chapter 18 Frame Relay

Chapter 10 · Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 2001 $ Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc.,

© McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Chapter 6 Systems Development

Chapter McGraw-Hill/Irwin Copyright © 2008 by The McGraw-Hill

McGraw-Hill©The McGraw-Hill Companies, Inc., 2000 Chapter 3 Transport Layer

McGraw-Hill©The McGraw-Hill Companies, Inc., 2000 Chapter 4 IP Addressing