Session:18 Management of Technology and Innovation
Key Terms
Principles of Management | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/principles-management
- entrepreneurial activities
- The implementation of new ventures and idea generation in organizations.
- explicit knowledge
- Information codified or written down as rules or guidelines.
- followship
- The process of seeking or accepting influence.
- formal and informal contracts
- Used to allow firms to share technology between each other.
- franchise agreements
- Long-term agreements that involve long payoffs for the sharing of known technology.
- innovation
- Invention, new product development, and process-improvement methods are all examples of innovation.
- joint ventures
- Long-term alliances that involve the creation of a new entity to specifically carry out a product/process innovation.
- leadership
- The action of leading a group of people or an organization.
- licensing agreements
- Involve technology acquisition without R&D.
- management of innovation
- Includes both change management and managing organizational processes that encourage innovation.
- management of technology
- The planning, implementation, evaluation, and control of the organization’s resources and capabilities in order to create value and competitive advantage.
- mergers/acquisitions (M&A)
- For an acquisition, one firm buys another; for a merger, the two firms come together and form a new firm.
- organizational learning
- The acquisition of knowledge through the collection of data that is analyzed to gather information, which is then transferred and shared through communication among members of the organization.
- research and development (R&D)
- Involves the seeking and developing of new technologies, products, and/or processes through creative efforts within the firm.
- strategic drift
- Occurs when a joint venture loses strategic focus on the reasons for the joint venture.
- strategic inertia
- The tendency of organizations to continue on their current trajectory.
- tacit knowledge
- Emerges from experience of an individual.
- technology
- The branch of knowledge that deals with the creation and use of technical means and the application of this knowledge for practical ends.
- value proposition
- A promise by a company to a customer or market segment.