Archive for December, 2011

The Not So Secret Secrets to Successful Invention and Innovation Discussed

December 19th, 2011

Well the secret is out now, and I am going to tell you exactly what that secret is – there is no secret, so don’t be sucked in. Not long ago, someone mentioned that they had written a book with the word; Secret, proudly displayed in the title. Something like the; The Secrets of Successful Innovation, and I am sure we’ve all seen this before.

But I ask is it really a secret I mean I know the use of the word secret does sell more books, and is recommended as per The Writer’s Guild and a couple of books on how to sell your book deal to a publisher with a chapter on book titles. Indeed I asked the gentleman – did you depart an important attribute of innovation Something like perseverance, persistence, don’t ever give up, the need for passion, risk, or assimilating knowledge, observations, education, experience, from multiple industries, cultures, and areas of the human endeavor

I mean didn’t Thomas Edison keep going after discovering 1,000 ways not to make a light bulb At least that was my take-away after visiting the famous Thomas Edison museum in Fort Myers FL. Indeed, I also asked my acquaintance if I should buy this book to help me become a better innovator, inventor, or creator of better products, services, or mastering the innovation process in business After all the title did sound perfect for my personal library, as I have a couple of shelves on such topics.

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Technology and Innovation Management

December 5th, 2011

TEACHER Hello, Student. Our discussion begins with the description of two important concepts know-how and can-do.

Technology means knowing how to do something the know-how. Every commercial enterprise needs to possess the know-how of some process, no matter how simple it might be.

But to actively participate in the market, know-how must be complemented with the ability to apply the technology, the can-do.

Can-do is a must. A firm may have the technical knowledge of a given productive process, but it can not apply it profitably without the means to perform it effectively. Can-do includes availability of trained personnel, capital goods (machinery and installations), and also the means to market the goods.

STUDENT How can a firm acquire know-how
TEACHER The basic ways to acquire technology are

· Hire personnel with expertise in the field.
· Purchase know-how from other firms through license andor technical assistance agreements.
· Receive it from the manufacturer of specialized equipment installed.
· Perform in-house research and development (R&D).

It is important to mention the need of a Technology Strategy.

In all firms, from a shoe manufacturer to a chipmaker, some type of Technology Strategy must be in place to stay competitive and spot opportunities

STUDENT Can we discuss and example of such strategy
TEACHER Sure.

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