definition of Technology

Technology push has been historically defined by an innovation-cycle-driven culture centered on marketing/technology administration analysis. In this context, a firm’s R&D division brings an thought from the invention stage to its fruition in commercial markets. Large firms are geared for production and distribution, that are giant-scale undertakings that don’t accommodate fast change. Hence, the organizational construction of a big agency is quite matrix oriented engineering disciplines are assigned to initiatives, and a central laboratory helps analysis and improvement. Innovation is organized in a more linear trend, and inner group favors discipline and focus.

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This type of group is best suited to incremental innovation, since it could possibly establish issues and focus large resources on fixing them. Creativity is taken into account a person trait, with some individuals being more naturally creative than others.

“Accelerating Innovation at Hewlett-Packard.” Research-Technology Management, January-February 2005, 32. “Building a Radical Innovation Competency.” Research-Technology Management, January-February 2005, 23. “Value Creation and Games of Innovation.” Research-Technology Management, November-December 2004, 25.

Invention is the development of a new concept that has useful functions. Innovation is a more complicated term, referring to how an invention is introduced into industrial usage. As an example, Henry Ford did not invent the automobile; corporations in Europe corresponding to Daimler have been producing vehicles well before Ford founded his firm. Henry Ford as an alternative focused on the innovation of automobiles, creating a technique (mass manufacturing) by which automobiles could possibly be manufactured and distributed cheaply to numerous clients. The refined package-monitoring system developed by Federal Express allows that company to find a shipment whereas in transit and report its status to the client.

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But innovation is clearly a group effort, often involving tons of or 1000’s of individuals. Scientific analysis and engineering knowledge contributes to every stage within the innovation process. Technological change is a combination of two actions invention and innovation.