This document provides an overview and agenda for a workshop on innovation adoption. It discusses how commercial success requires understanding how customers become aware of solutions, know if they work, are motivated to purchase, and overcome concerns. It outlines steps to identify market segments, stakeholders, barriers to adoption, and constraints for opportunities. Finally, it discusses generating business model and revenue options to stimulate adoption by modifying the technology, business model, or revenue streams to increase benefits or reduce costs and risks for stakeholders. The goal is to help participants better understand the technology commercialization process from both technological and behavioral perspectives.
Technology strategy at national level; Technology strategy at organizational level; Generation / development of technology; S curve of technology evolution; Technology progression
The document discusses how the internet influences industry structure and competitive advantage according to Michael Porter's theories. It outlines three "waves" of information technology from the 1960s to present. Porter argues that strategy is still important in the digital age. The document then summarizes Porter's five forces model and how each force (threat of new entrants, substitute products, bargaining powers of buyers and suppliers, competitive rivalry) can be positively or negatively impacted by the internet. Specifically, the internet can intensify competition but also create new opportunities to gain advantage through lower costs or differentiated products.
This document discusses strategies for promoting innovation in organizations. It argues that companies focus too much on efficiency innovations and not enough on market-creating innovations. It recommends that companies rationalize their portfolios to focus more on capabilities that enable all three types of innovation, especially market-creating innovations. Technologists can help by influencing strategies to prioritize growth and shifting IT thinking from efficiency to innovation and value creation. Measurement of innovation impact and processes also needs to be improved.
Research and development can be the most productive and successful part of a company. With a business value driven R&D process and good portfolio optimization tools one can even tenfold the R&D value, making it by far the most successful part of the company.
Wk 3 critical factors in managing technologySaddan Juhari
This document discusses key issues in managing technology. It identifies 7 needs for effective technology management as determined by the National Research Council. It also categorizes 5 issues in managing technology and lists priorities for remaining competitive through anticipating technological opportunities. Additionally, it outlines 5 priority issues for organizational structure and managing change. The document emphasizes that managing technology and innovation is essential for an organization to survive and compete in today's environment.
Technology management involves the planning, design, optimization, operation and control of technological products, processes and services. It includes assessing technologies, acquiring them internally or externally, absorbing the technology through assimilation and utilization, and managing the technology life cycle from development to decline. Effective technology management requires monitoring technological developments, evaluating technologies, transferring technologies within and between organizations, and ensuring technologies are accepted and fully utilized before they mature or degrade.
The document outlines the responsibilities and requirements for a Chief Technology Officer (CTO) in a publishing company. As CTO, key responsibilities include developing the technology strategy, managing the technology team, implementing multimedia systems, and ensuring platform availability. The CTO must also establish technical standards, work on an institutional repository, and deliver solutions on schedule and budget. Requirements for the role include at least 5 years of IT experience, expertise in semantic web and publishing systems, ability to interpret technology trends, and excellent communication skills.
This document discusses key factors in managing technology, including the importance of creativity, invention, innovation, research and development. It emphasizes that managing technology requires continuous efforts to create new technologies and bring novel products and services to market. While invention generates new concepts, innovation involves integrating existing technologies into new products and systems. Both are essential for technology development and application. The document also examines types of innovation, how to foster creativity, and the importance of timing when bringing innovations to market.
Introduction to Management of TechnologyTarek Salah
This document discusses various topics related to the management of technology, including:
- Definitions of management of technology at the firm and national levels.
- Drivers of technological change in the 21st century and how to manage technologies within organizations.
- The relationship between technology, markets, and society.
- Frameworks for analyzing a company's technology capabilities and opportunities, including technology space maps and horizons of growth models.
- The difference between invention, innovation, and bringing innovations to market.
- Models of the technology and product lifecycles.
- Types of innovations like disruptive vs. sustaining and the role of entrepreneurship in driving technological progress.
This document discusses strategies at the corporate and business unit levels. At the corporate level, strategies determine the mix of industries a firm operates in. Related diversification across industries that share resources performs best. Business unit strategies set missions and competitive advantages. The BCG matrix analyzes market share and industry growth to determine strategies like building, holding, harvesting or divesting business units. Porter's five forces and value chain models identify industry factors and activities that influence competitive advantage.
Technology management (MOT) involves the development, planning, implementation, and assessment of technological capabilities to achieve organizational strategic objectives. At the national level, MOT aims to ensure competitive technological advantage, while at the enterprise level, it focuses on gaining and maintaining a strong technological position to support competitive strategies. Key tasks of MOT at the enterprise level include technology planning, R&D management, and innovation management. Strategic management of technology (SMOT) adopts a long-term perspective and impacts all organizational levels and functions. An effective strategic technology management system (STMS) follows an eight-phase systems life cycle approach for strategic MOT.
Invention to Innovation - Journey of a High Tech Product SavitaKini
Presented at Institute of Product Leadership Webinar - Oct 8, 2014. Discussed the various aspects involved in taking a new product into market. Audience - Wanna be Product Managers, Product Marketers.
This document discusses technology commercialization and outlines several key points:
1) Successful technology commercialization requires a formal management process to ensure ideas are evaluated and resources are allocated effectively, increasing the likelihood of success.
2) There are different definitions of commercial success for technologies, including published research enabling adoption, licensing to larger companies, or becoming the basis for a new venture.
3) Traditional university views focus on research outputs and licensing, while leaner approaches emphasize testing opportunities, identifying business models, and conducting go/no-go evaluations at multiple stages of the process.
Firms frequently face difficult decisions about the scope of activities to perform inhouse, and whether to perform them alone as a solo venture or to perform them collaboratively with one or more partners.
This document discusses the link between research and development (R&D) and business value creation. It addresses questions about how R&D relates to a company's overall business and long term objectives. The document discusses core competencies as the common threads across business units that differentiate companies and provide sustainable competitiveness. It also discusses the importance of aligning R&D strategy with corporate strategy and identifying the value provided by R&D to customers at each step of the value chain. The perception gap between R&D and other departments is also addressed.
• Make Versus Buy
• Benefit of Outsourcing
• Source of Supplier Information
• Strategis Selection
• Supplier Relationship Management (SRM)
• Industry Example
If your company has reached a growth plateau, margins are under pressure, you've lost your innovative edge, this is a great book for you. This presentation summarizes some of the key points about core vs. context, types of innovation, resource extraction and redeployment, organizational alignment, and more. Hope this is helpful as an overview, Geoffrey Moore's book is the best resource.
1. Reinstitute a cross-functional leadership team to oversee the stage gate process and review projects at each gate. This provides accountability and ensures a portfolio view.
2. Reinstate clear gates with go/no-go criteria at ideation, concept, development, launch, and tracking stages. Gates prevent underdeveloped projects from advancing and focus resources.
3. Implement consistent project leadership from ideation through tracking to ensure proper execution. Leaders are accountable for success and have authority over cross-functional teams.
4. Conduct rigorous tollgate reviews that focus on challenging assumptions
Business model innovation refers to reinventing a company's business model to compete on value proposition and profit formula rather than just products alone. It involves aligning a company's value proposition, revenue streams, partnerships, supply chain, activities, and customer relationships to enhance value creation. Changing aspects of the business model can help companies increase value, revenues, strategic partnerships, supply chain leverage, customer value, and relationships to gain competitive advantage.
This document discusses the importance of trust in fostering innovation within organizations. It outlines a Behavioral Trust Framework (BTF) that identifies specific trust-building and trust-damaging behaviors. The BTF allows individuals and organizations to understand how to develop trust and collaboration, which are necessary for innovation. Applying the BTF can help reduce controls and proxies for trust, allowing for greater innovation capacity. Managing trust behaviors, rather than just outcomes, is key to catalyzing innovation.
This document discusses how to persuade customers to adopt a new product. It explains that customers buying a product means they were persuaded to change their behavior, switch from an existing option, or adopt something new. This persuasion provides awareness, motivates trial and adoption, lowers costs/risks, and convinces customers that benefits outweigh alternatives. Key factors that influence adoption are relative advantage, compatibility, complexity, trialability, and observability. The document stresses the importance of experimentation to test customer interest and sales through cheap, simple, and fast initial efforts.
The document discusses the importance of teamwork and effective problem solving. It explains that teamwork requires embracing different skills, perspectives, and consensus decision making. The key elements of effective teamwork are individual personality, the creative problem solving process, and problem solving styles. To understand these elements, the document introduces the Myers-Briggs Type Indicator personality assessment and the Basadur problem solving styles assessment. It provides an overview of each tool, how to use them to improve team performance, and their benefits and disadvantages.
This document discusses various funding opportunities and support programs for translational research at universities, including:
1) Short proposal opportunities through the NSF I-Teams program and TechConnect workshops that provide up to $50,000 over 6 months to assess technical and commercial opportunities.
2) The NSF I-Teams program which provides up to $150,000 over 6 months to assess technical merit, feasibility, and commercial potential through more extensive 15-page proposals.
3) Support programs through universities like mentorship, masters degrees in innovation management, and technology commercialization certificates to help researchers assess commercial feasibility.
The document presents a behavioural trust framework diagnostic scale for assessing levels of trustworthiness, capability, trusting behaviours, and receptiveness. It includes scales ranging from +5 to -5 for dimensions such as consistency, benevolence, competence, disclosure, and receptiveness. For each dimension, descriptions are provided for behaviors associated with each level on the scale. The document appears to be a tool for evaluating levels of trust within relationships or organizations.
This document provides an overview of the York-Technion Program, which aims to provide students an educational experience based on Israel's innovation ecosystem. The program will include lectures, workshops, visits to startups and entrepreneurs, and trips around Israel. It encourages finding problems by listening to customers, experts, and one's inner voice. The document outlines steps for understanding problems, including root cause analysis and competitive analysis. It provides an example of a company called VisualTau that developed collaboration software. An appendix includes a template for defining a problem or idea with sections for the customer, job to be done, problem description, scenario, and root cause.
The document discusses improving innovation quotient. It begins by explaining that innovation is difficult because organizations are designed to stifle it and it means stopping existing successful practices. It then introduces the innovation quotient as a way to measure an individual or organization's capacity for innovation. Key components that impact innovation quotient are strategy, culture, processes, resources, and relationships. Trust behaviors between individuals and across an organization can also impact innovation. A behavioral trust framework is presented as a way to identify specific trust-building and trust-damaging behaviors and increase relationship trust to ultimately improve innovation.
The document discusses managing relationships and innovation through trust rather than controls. It notes that innovation is increasingly sourced from and shared through weak ties characterized by informal relationships. Building trust with weak ties requires a new approach as it involves managing relationship risk. The workshop agenda includes discussing how trust, weak ties, and innovation are linked, reflecting on experiences of trust behaviors, and discussing the organizational implications of managing relationships through trust instead of controls.
The document discusses measuring and promoting innovation in organizations. It provides three key points:
1. Measuring innovation through outputs like new products and patents does not guide performance improvement, which requires changes in how people work and make decisions.
2. Barriers to innovation include budgets, risk aversion, and defined roles that discourage experimentation. Innovation thrives on collaboration, speed, and accepting failure.
3. Developing trust is important for innovation as it facilitates knowledge sharing and risk-taking with new partners. Trust evolves over time through consistent behaviors across individuals and organizations.
The document discusses sources of innovative ideas and developing good ideas. It outlines seven approaches to identifying innovation opportunities: design thinking, technology trajectory, gaps in current solutions, value chain analysis, building on technology platforms, business model innovation, and future foresight. It also discusses developing the value proposition of an idea by persuading customers to adopt something new or switch from existing options. Finally, it notes that a good idea must be desirable to people, financially viable, and technologically/organizationally feasible.
The document provides guidance on developing an effective value proposition and adoption model to bring an innovation to market. It discusses segmenting the market between pain killers that address existing problems and vitamins that provide new benefits. For each, it emphasizes the importance of demonstrating how the solution creates value by reducing costs or improving outcomes. It also stresses facilitating adoption through compatibility, ease of use, and addressing perceived costs like integration and risks of new technologies. The overall goal is to motivate customers to see that the benefits of the solution dramatically outweigh any costs and risks of changing behaviors.
The document discusses key concepts for marketing technology innovations, including diffusion of information and adoption decisions. It notes that diffusion is the process by which an innovation is communicated over time through certain channels among members of a social system. Adoption looks at what motivates individuals to adopt an innovation based on its perceived attributes. Successful marketing requires understanding both diffusion and adoption frameworks to develop strategies that inform customers and compel use.
The document discusses fostering innovation through organizational culture change. It emphasizes that leadership plays a critical role in culture and that senior leaders often resist change unconsciously. It also highlights that experimentation, trusting relationships, and ideation are important aspects of an innovative culture. The document provides frameworks for assessing trust behaviors and lists several actions organizations can take to support innovation, such as establishing an innovation strategy and rewarding experimentation.
This document discusses how trust and weak ties can promote innovation. It notes that innovative companies are able to build relationships with weaker ties that are informal with infrequent communication and complementary knowledge. These weak ties are a source of innovation but relationships are difficult given limited track records. The document suggests changing organizational behaviors and design to better develop these weak tie relationships and manage relationship risk through trust rather than control. It provides a framework for understanding how specific trust behaviors can build, damage, or violate relationship trust over time.
This document discusses innovation and trust in organizations. It argues that innovation requires changing products, customers, business models, people, processes, culture and behaviors. Successful innovative organizations have decision processes that are faster, spread accountability, encourage risk-taking and experimentation. They also communicate accurately and frequently, with two-way information sharing. Relationship trust is important for innovation as it facilitates knowledge sharing and speeds relationship development. Trust develops over time based on consistent trustworthy and trusting behaviors. The document provides a diagnostic for organizations to assess the trustworthy and trusting behaviors between those with weak ties.
This document discusses frameworks for commercializing novel technologies. It describes how traditional technology commercialization focuses on pushing technologies to market without understanding customer needs, while lean startup focuses more on market pull but may ignore technology advantages. The document then introduces the TechConnect framework, which involves 5 stages to develop technologies in a market-centric way: 1) identifying jobs a technology can perform, 2) developing value propositions for those jobs, 3) selecting the most promising opportunities, 4) identifying barriers to adoption, and 5) encouraging adoption. It provides an example applying this framework to LED technology and discusses exercises for participants to experience parts of the process.
The document provides information about the IAOIP Foundation Level Certification exam for individuals seeking to become a Certified Professional Innovator (CPI). It discusses the benefits of obtaining the certification, including building knowledge and skills in applying innovation, publicly endorsing one's innovation skills, and gaining access to the IAOIP member network. The certification is based on the body of knowledge from the Global Innovation Science Handbook and tests knowledge and comprehension of innovation concepts, culture, types, methods/tools, processes, and creativity/ideation. The Foundation Level exam serves as an entry point for pursuing additional practitioner-level certifications in specific innovation domains.
The document discusses the Best (BEST) program at Lassonde, which combines engineering, business, and social science courses with experiential learning opportunities to develop knowledge and skills. It prepares graduates for a variety of careers by encouraging entrepreneurship and solving important issues. The BEST program offers academic courses, international experiences, co-ops, activities, and a lab where students can start ventures. It aims to enhance the student experience and provide a roadmap for all Lassonde students. The top ten ways to improve BEST further include enhancing its brand, providing more resources, developing partnerships, and extending opportunities internationally.
The document discusses creative problem solving techniques. It recommends spending time defining the problem before leaping to solutions. It outlines techniques like the Five Whys method and brainstorming or brainwriting where participants build on each other's ideas. The goal is to remove contradictions and think outside the box to find novel solutions by not dismissing any ideas and working together to group and build upon concepts.
This document outlines a process for product development that includes market assessment, pro forma financial analysis, concept development and demonstration, stage gate processes, enabling technologies, bootstrapping, technology roadmaps, product planning, partnering, IP management strategies, and implementation roadmaps. It emphasizes the importance of clear metrics, understanding customer needs, estimating costs and revenues, and integrating internal and external stakeholders through integrated product teams.
This document provides an overview of business models, strategies, and IT systems in digital organizations. It discusses four types of business models: market, operational, financial, and competitive. It also covers various competitive strategies such as cost leadership, differentiation, and developing competitive advantages. Additionally, it summarizes key concepts around IT systems including functional business systems, enterprise systems, and the role of IT in creating competitive advantages through activities like business process reengineering.
This document discusses the role of technological innovations in competitiveness and entrepreneurship. It makes three key points:
1. Technological capabilities and related innovations have the potential to significantly enhance firm competitiveness. Collaborative development within and between firms is an important driver of technological capabilities.
2. Products and production technologies are becoming more complex, requiring diverse capabilities beyond any single firm. Developments in digital technologies have made collaboration easier.
3. There are different perspectives on technology and innovation management from economists, engineers, and operations management researchers. Innovations can be classified by whether they impact products, processes, or practices.
2016 - Lecture 5. Learning from markets.potNadia Lushchak
This document discusses how technology and markets affect commercialization of products. It covers different types of innovations based on the maturity of technologies and markets, including differentiated, architectural, technological, and complex innovations. Key points discussed include segmenting markets for architectural products, unique features of marketing technological products, and the important role of lead users in developing and adopting complex products.
This document outlines an agenda for a TechConnect event on moving ideas to market. It discusses developing a value proposition by understanding customer pain points and gains. Creating a compelling value proposition involves either addressing an existing problem or enabling new capabilities. The document also covers barriers to adoption like integration challenges and behavior changes. It suggests strategies to facilitate adoption such as partnerships, trials, and alternative revenue models. Finally, it discusses when to pursue licensing versus creating a new venture based on factors like market dynamics, disruptive potential, and input requirements.
This document discusses entrepreneurial strategy for generating and exploiting new entries. It covers:
1) Defining new entry as offering a new product/market or creating a new organization. Entrepreneurial strategy maximizes newness benefits and minimizes costs.
2) Generating new entry opportunities by developing valuable, rare, and inimitable resource bundles using unique experiences and market/technological knowledge. Assessing opportunities involves weighing information and uncertainty.
3) Exploiting opportunities through first-mover advantages like scale, networks, and expertise. However, environmental instability can reduce these advantages. Risk reduction strategies include narrow or broad market scope and imitation.
This document provides an overview of key topics in managing technology and innovation. It discusses the importance of innovation for business and defines innovation management. The document outlines the innovation process, including basic research, applied research, idea generation, development and market entry. It also classifies innovations as incremental, radical, or transformational and as product, process, or service innovations. Additionally, the document covers developing a technology strategy, organizing for innovation, and managing intellectual property.
The document discusses technology selection and management. It defines technology selection as the process of making strategic decisions about which technologies a company will utilize. This involves analyzing the company's goals, capabilities, markets and competitors through tools like gap analysis and value analysis to identify technological opportunities and needs. Companies then make strategic choices about whether to develop, purchase, or collaborate on technologies. The key is aligning technological decisions with business strategy to create value for customers.
This document discusses marketing strategy formulation. It begins by outlining Porter's generic competitive strategies of cost leadership, differentiation, and focus. It then discusses identifying sources of competitive advantage through experience and value curves. Porter's five forces model is explained as examining the competitive environment through suppliers, new entrants, substitutes, buyers and industry rivals. Finally, it outlines strategies for market leaders to defend their position and strategies for challengers to attack opponents.
How to Grasp terminologies like Strategy and operation in basic level, and demonstrate this understanding in real life , i am taking the hand for how the strategy and operation should work together for safe and sustainable business run
Chapter 1 the fundamentals of managerial economicsskceducation
This document provides an introduction to key concepts in managerial economics. It begins by defining managerial economics as using economic principles to help managers make better decisions by directing scarce resources efficiently. It then explains accounting profits versus economic profits and the importance of opportunity costs. The document outlines Porter's five forces framework for analyzing industry profitability. It also discusses the time value of money and how present value analysis allows managers to properly account for the timing of costs and revenues. Finally, it introduces the concept of marginal analysis and how managers can maximize profits by producing goods until the point where marginal benefits equal marginal costs.
Technology management links engineering, science, and management disciplines to plan, develop, and implement technological capabilities. Technology is defined as the application of knowledge for practical purposes. There are three levels of technology development - individual ideas, verified ideas through experimentation, and embodied knowledge in products/services. Technology development is socially constructed and depends on opportunity, appropriability, transferability, and resources. Firms are viewed as open systems that interface with customers, competitors, and other environmental factors. The management of technology focuses on developing capabilities and deploying them in markets to accomplish organizational goals.
Practical tips for implementing corporate performance management systemKetan Parekh
Collection of tips and learning from experience in leading a team through the implementation of corporate performance management or enterprise performance management system
Operation strategy and competitiveness.pptxShanthini28
The document discusses operations strategy and competitiveness. It explains that operations strategy provides a plan for how the operations function will use resources to support the company's competitive strategy. This includes decisions about facilities, worker skills, technology use, processes, equipment, and quality control. The operations strategy is developed based on the company's competitive priorities of cost, quality, time, and flexibility.
The document discusses challenges with the traditional approach to technology commercialization. It presents an alternative approach called TechConnect that integrates technology development with market understanding from an early stage. TechConnect involves understanding customer needs, validating market opportunities, and exploring multiple business models before significant resources are committed. This process aims to increase the likelihood of commercial success by developing technologies that meet real market needs.
This document outlines the components and structure of a feasibility study for an MBA program project. It includes sections on project details, phases, pre-investment analysis including opportunity studies and feasibility reports. Feasibility studies evaluate market viability, technical viability, management viability, economic viability and other dimensions. They assess opportunities, production requirements, competition, financial projections and make recommendations to determine project viability. The document provides guidance on the key parts and considerations of a feasibility report.
A Whirlygig Tour of Emerging Marketing Technology CategoriesMarTech Conference
From the MarTech Conference in San Francisco, California, March 31-April 1, 2015. SESSION: A Whirlygig Tour Of Emerging Marketing Technology Categories. PRESENTATION: A Whirlygig Tour of Emerging Marketing Technology Categories - Given by Jay Famico, @jayfamico - Sirius Decisions, Practice Director, Technology
This document discusses managing technology and innovation. It covers key topics such as defining technology and innovation, understanding the forces driving technological development, assessing an organization's technology needs, and organizing for innovation. Some of the main points made are that managers must understand what drives new technologies, innovation follows a predictable life cycle, and choosing how to acquire new technologies depends on factors like proprietary advantages and available resources and skills.
The document discusses product planning and development processes. It defines product planning and describes four types of product development projects. It then outlines the key steps in a typical product development process: identifying opportunities, evaluating and prioritizing projects, allocating resources and planning timing, completing pre-project planning, and reflecting on results. Key aspects of evaluating projects, different product types, and pre-project planning are also summarized.
Achieving IT Strategic Directives When Evaluating a New Promotional Content E...Cognizant
By embracing a collaborative assessment model to evaluate technology platforms, life sciences organizations can better address cross-functional stakeholder needs.
Similar to Tech connect fall 2015 value proposition to encouraging adoption (20)
This document provides an overview of prototyping and storyboarding. It discusses the importance of prototyping in the design thinking process as a way to test ideas quickly and improve upon them. Both low-fidelity and high-fidelity prototyping are described, as well as different types of prototypes like sketches, physical models, role playing, and storyboards. Guidelines for effective prototyping emphasize starting quickly, focusing on the testing goal, and keeping the user in mind. Storyboarding is presented as a way to visualize and guide users through experiences to better understand needs.
Design thinking is a human-centered approach to innovation that draws on design methods and tools. It emphasizes empathizing with users, defining problems from the user's perspective, ideating many potential solutions, prototyping ideas, and testing prototypes with users. This process aims to create innovative solutions that meet user needs. For software development, design thinking can be applied at each stage to develop solutions focused on the user experience through methods like customer research and iterative testing. It helps shift the focus from functionality to delivering an experience that solves users' problems in a better way.
Evaluates technical feasibility and
Adoption Blockers:
• Economic Blocker - Sees no ROI or too risky
• Political Blocker - Threatened by change
• Process Blocker - Disrupts existing processes
• Values Blocker - Conflicts with personal values
Adoption Approvers:
• Economic Approver - Sees ROI
• Visionary - Values innovation
• Process Approver - Supports process change
investment
- Evaluates technical risks and
complexity
• Process Champion - Drives process change
• Economic Champion - Drives ROI case
• Values Champion - Drives cultural acceptance
- Evaluates legal/compliance risks
• Legal
Starting a business is challenging and full of risks. Many new ventures fail for reasons outside of the founder's control like broader economic conditions or an unanticipated disruption in the industry. While failure is difficult, entrepreneurs who are resilient and learn from mistakes are often able to recover and succeed with future business ideas.
This document provides an overview of the Future Agenda project exploring the future value of data. The project will examine how data itself will be valued over the next decade through a collaborative, global approach. Workshops will be held in multiple locations to identify opportunities and implications. The project aims to challenge assumptions, understand constraints, and share diverse views on the key drivers of change. Insights will inform a global synthesis report on priority opportunities regarding how data will create value in the future.
This document discusses technology entrepreneurship and common myths. It begins with an overview of the speaker's background teaching technology commercialization and entrepreneurship. It then discusses why technology entrepreneurship is important and how experiential learning is key. The speaker notes that universities did not understand how to manage technology ventures or commercialize research. The document outlines common myths around entrepreneurship, such as the idea that it starts with a great idea or that entrepreneurs are risk takers. It emphasizes the importance of design thinking and linking it to venture creation.
The document discusses improving innovation capability. It identifies common barriers to innovation as not understanding innovation, designing organizations to stifle it, and stopping what used to work. The discussion focuses on measuring an organization's innovation quotient using factors like strategy, culture, processes, resources, and relationships. A behavioral trust framework is introduced to build relationships and encourage collaboration, knowledge sharing, risk-taking, and communication to improve innovation culture. Organizational ambidexterity is needed to balance performance and innovation.
This document provides guidance for those starting a journey and outlines what to expect and prepare for. It discusses exploring without end to continually learn and grow, and living life looking forward while learning lessons looking backward. The document also recommends focusing on making meaning over money. It notes the three stages of startups as ideation, validation, and actuation, and that the journey will involve learning how to navigate obstacles through a "startup slalom."
The document discusses the opportunities and challenges presented by blockchain technology. It describes how blockchain can disrupt existing industries by enabling new levels of performance and facilitating new business models. Blockchain creates a distributed ledger that eliminates duplication, allows secure record keeping, tracks provenance, and more. It also discusses how blockchain reduces costs and creates new revenue opportunities for organizations. The document outlines barriers to innovation adoption and how to develop a compelling value proposition to increase adoption of disruptive technologies like blockchain.
1. Teams developing technology face challenges like being informal, cross-functional with little training, and having outcomes that are not clear.
2. High-performance teams develop a sense of purpose and direction, embrace complementary skills, make consensus-based decisions incorporating different perspectives, and leverage individual strengths.
3. Embracing diversity improves innovation but is more difficult, as different problem-solving styles are needed at each stage and individuals value their own style over others, creating potential conflicts.
1) Barriers to innovation include changing current processes and procedures, modifying management styles, developing new organizational structures, abandoning existing products, and modifying incentives and company culture.
2) Maxwell's three laws of innovation inertia state that organizations naturally resist change, larger organizations require more force to change, and any force applied to an organization generates an equal and opposite reaction force.
3) The innovation quotient measures five factors that determine an organization's ability to innovate: strategy, culture, processes, resources, and relationships. Organizations need both a performance engine to exploit existing capabilities and an innovation engine to explore new opportunities.
This document outlines an agenda and schedule for a two-day workshop on tools and techniques for innovation. Day one covers introductions, goals of innovation, ideation exercises, innovation portfolios, and barriers to innovation. Day two focuses on reviewing exercises, sources of innovation, leadership, implementation, and an concluding exercise. The workshop is led by Dr. Andrew Maxwell and aims to provide frameworks and processes for generating, evaluating, and implementing innovative ideas.
The document outlines the agenda and schedule for Day 2 of a workshop on tools and techniques for innovation. The schedule includes reviewing concepts from Day 1, discussing innovation portfolios, barriers to innovation, sources of innovation, and innovation implementation. Key lessons from the prior week are reviewed, including establishing innovation goals and criteria. Common causes of innovation failure like poor leadership, communication, and understanding customer adoption are examined. The importance of organizational culture and aligning activities to foster innovation over incremental improvement is highlighted.
This document discusses disruption and how to anticipate and manage it. It defines disruption as changes in the marketplace that affect players, interactions, and functions by creating new levels of low-cost and novel solutions. While some changes in business models are difficult to anticipate, changes in technology that enable new levels of performance can be scanned for trends. The document suggests that the most optimal disruptors are new ventures focused on the opportunity without constraints of existing customers. It provides tips for managing innovation risk through mitigation strategies and lean startup approaches, as well as managing an innovation portfolio that assumes most projects will fail.
The document provides information about Lassonde's International Experience Course at the Technion in Israel from May 14 to June 4, 2018. It is a graded, 3-credit course open to undergraduate students from any year interested in entrepreneurship, broadening their cultural exposure, or advanced technologies. The trip includes a bootcamp in Toronto from May 8-12 before traveling to Israel. In Israel, students will spend time in Tel Aviv, Jerusalem, the Dead Sea, and Haifa visiting the Technion campus. Fees for the course are covered but students are responsible for airfare, some tours, and have options for financial support. Security and visa issues are also addressed.
The document discusses the importance of commercializing university research and working with industry partners. It notes that there is an increasing focus on commercialization in grant applications. It also discusses the need to understand the difference between incremental and disruptive innovation. Finally, it lists several ways that universities can help in preparing technologies to be adopted, such as by helping to find industry partners, do customer research, and provide funding and IP guidance to get technologies from the lab to market.
This document discusses the importance of commercializing university research through technology transfer offices (TTOs). It notes that most TTOs operate at a loss and focus on licensing, while most disruptive innovations never reach customers. The root causes identified include researchers lacking commercialization expertise, research not considering commercial needs, and the commercialization process starting too late. The document advocates for design thinking and taking a customer-centric approach to commercialization from the start of the innovation process. It emphasizes determining customer needs and viable business models to overcome adoption barriers.
BEST at Lassonde School of Engineering offers a holistic approach to engineering education that integrates entrepreneurship skills and experiences. It addresses the need for engineers to better communicate, problem solve, and understand their societal impact. BEST enhances student learning through hands-on activities that develop creativity, teamwork, and an understanding of technology commercialization. It combines engineering courses with business and law courses, as well as experiential opportunities like co-ops, international programs, and competitions, to prepare students for evolving careers and help them achieve their potential.
Business angels are the second most important source of capital for high-growth ventures. Understanding how business angels make investment decisions is critical for entrepreneurs who want their money. Business angels approach investment opportunities using a boundedly rational approach, where they minimize decision-making effort. They first look at objective venture factors like market size, barriers to entry, and financial viability, then use individual subjective factors to reject opportunities. When assessing risk, business angels examine inherent risk, performance risk, and relationship risk. They also consider the entrepreneur's experience, expertise, and characteristics to assess performance risk, and use behavioral cues to evaluate long-term relationship risk. Business angels also consider the potential exit when making investment decisions.
An overview of why technology commercialization is important for those undertaking research in universities - insights into why the current process is broken and some insights into new apporaches.
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How AI is Disrupting Service Industry More Than Design ThinkingBody of Knowledge
Artificial Intelligence (AI) and Design Thinking are two powerful tools that, when used together, can revolutionize the service industry. By combining these approaches, businesses can develop innovative solutions that enhance customer experience, increase efficiency, and drive growth. Here's how AI and Design Thinking are disrupting the service industry
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2. Afternoon Agenda
Introduction to Innovation Science
Value Proposition to Adoption
• 12:45 Stakeholder & Barriers to Adoption
• 1.00 Stakeholder & Barriers to Adoption Exercise
• 2.00 Business Models & Enabling Adoption
• 2.15 Business Models & Enabling Adoption Exercise
• 3.00 Group Presentations on Barriers & Adoption
Wrap up:
• 3.30 Recap &Lessons Learned
• 4.00 Networking & Decompressing
3. Innovation science
• Technologists may believe better technology = market success
• However commercial success requires understanding:
– How will customers become aware of your solution?
– How will they know it works?
– What will motivate them to purchase?
– How can you overcome user inertia (address concerns)?
– How can you identify early adopters?
• Achieving commercial success requires understanding how
different factors affect people’s decisions and behaviours
Innovation science requires a better understanding of
people, not just technology and is a behavioral science
4. Steps in Canvas #2
(Phase II of TechConnect)
1. Identify multiple market segments for each application (value proposition)
2. Identify relevant stakeholders for each market segment
3. Identify barriers to adoption relevant to each stakeholder
4. Identify other constraints/barriers for that option
5. Synthesize new approaches/business models to overcome barriers
5. TechConnect is about
Divergence and Convergence
During Phase 1
• Challenge assumption about application for a novel technology
• Identify alternate jobs and value propositions
• Develop frameworks to identify most promising applications
During Phase 2
• Challenge assumptions about the market segment
• Focus on changing user/customers’ behavior
• Recognize barriers to adoption
• Synthesize alternate ways to overcome barriers
• Analyze context specific approaches to adoption
6. TechConnect Outcomes
Outcomes from the process
• Identify additional or adjacent market opportunities
• Inform technology Development
• Include a plan to overcoming adoption barriers into both
technology and development plan
• Alternate options preferred by different participants
– University technology transfer offices,
– Inventor
– Entrepreneur
– Corporation
– Economic development agency
7. TechConnect outcomes
vary for individuals
University Technology Transfer Offices look for:
• Licensing opportunities (revenues /reputation)
Inventors look for:
• Interesting applications for technology (uptake/ publications)
Entrepreneurs look for:
• Creating a viable and sustainable business (fundable/scalable)
Corporations look to:
• Enhance current offering and leverage existing resources
All participants benefit from a better understanding of the
technology commercialization process
8. Maxwell’s three laws of
innovation inertia
1. There is a natural tendency for organizations to keep
doing what they’re doing and resist changes. In the
absence of a force, they will continue to do what
they’ve always done.
2. Larger organizations require more force to change
what they are doing than smaller organizations.
3. For every force there is a reaction force that is equal
in size, but opposite in direction. When someone
exerts a force on an organization, he or she gets
pushed back in the opposite direction equally hard.
8
9. Motivation to adopt
2
• Perceived benefits can include…
– Saving money, increased utility or enjoyment
– Increase reliability, safety or environmental performance
– Reduces risks
• Perceived costs can include…
– Acquisition costs, switching costs,
– Uncertain outcomes/reputation
– Increased technology, financial or operational risk
• To motivate a change in behavior you can increase benefits
and reduce costs, and demonstrate this
10. 1. Where do you add value?
(Application / market segment)
Increased
efficiency for
internal
combustion
engine
After market
parts
OEM parts
supply
Direct deal
with fleet
operator
Instructions
• Start with understanding the
application
• Identify fundamentally different
market segments that might
see the value proposition
• May include segments you
need to to validate, or gather
more information on
11. 2. Who are stakeholders?
Automobile
owner
(individual or
fleet) Distributor /
Service
Centers
Manufacturer
of device
After market
parts
OEM parts
supply
NHTSA/EPA/C
ARB Fuel Supplier
(comple-
mentary)
Insurance
Agencies
Auto
media/Consu
mer reports
Auto-maker
manufacturing
Auto-maker
technical
team
(primary)
Auto-maker
Dealers
Auto-maker
management
and
marketing
Instructions
• Start with understanding each
market segment
• Identify fundamentally different
individuals in each segment who
see the value proposition
• This can include: users, economic
buyers, technology buyers and
influencers
• Each will have different
motivations and concerns when
adopting technology
• There may be some common
stakeholders between segments
12. 3. What are barriers to adoption?
(Benefits vs costs)
Perceptions
of costs vs
benefits
(major)
Reliability,
maintenance
costs
Ease of
installation/
compatibility
Technical risk
Uncertainty
about long
term effects
on other parts
of car Performance
over time
Not invented
here
Liability
concerns
Instructions
• Start with understanding each
stakeholder
• Identify how they perceive cost
and benefits
• Consider five types of barriers:
– Economic
– Technical/operational
– Personal risk
– Market/Financial risk
– Reputational risk
– Behavioral
After market
parts
OEM parts
supply
13. 4. Other constraints?
(Internal: organization, resource)
(External: market, environement)
(Contextual: building awareness)
Safety testing
(time/cost)
Warranty
issues
Product
liability
insurance
costs
Environmenta
l and
performance
regulations
Competitive
environment
CAFÉ fleet
regulations
Instructions
• Identify internal, external and
contextual factors that might
influence perception:
– Internal constraints include
existing business strategy, current
organization and resources
– External constraints include
technology, market,
competition, legislation,
shareholder
– Contextual factors include
challenges in building awareness
and overcoming liability of
newness
After market
parts
OEM parts
supply
14. 5. Identify how you can modify
business, revenue and innovation
factors to overcome barriers
Addressing barriers to adoption,
consider
• Can you increase the perceived
benefits or reduce the perceived
costs?
• Can you change the business model
(i.e. form factor, channel partner)
• Can you change the revenue model
(reduce initial cost or financial risk)
• Can you embed features in the
technology or revenue model
(increase observability, trialability,
compatibility)
15. 5a. Strategic options to stimulate
innovation adoption
Embed
capability to
record fuel
savings
• Relative Advantage – better
than the alternatives it will
replace
• Compatibility – easy for user to
assimilate innovation
• Complexity – easy for user to
learn to use the innovation
• Trialability –easy for a user try
out the innovation
• Observability – how readily can
a user see the results /
• Brainstorm alternate ways in
which you can modify the
technology, business model etc.
After market
parts
OEM parts
supply
16. 5b. Business model options to
stimulate adoption
Embed
capability to
record fuel
savings
• Integrate into existing offering
• Embed compatibility with current
practice
• Integrate into existing supply chain
• Reduce installation/integration
complexity
• Change form factor for market niche
• Focus on one performance dimension
• Integrate into partners offering
• Make it easy to measure performance
• Brainstorm alternate ways in which
you can modify the technology,
business model, etc.
Design device
as a clamp on
system,
enabling end
users to
install
After market
parts
OEM parts
supply
17. 5c. Revenue model options to
stimulate adoption?
Embed
capability to
record fuel
savings
• Offer for free (trial) before you
have to purchase
• Turn a capital purchase into a
service agreement
• Charge per use or for savings made
• Steeped charges for increasing use
• Offer basic service for free, with
premium options
• Integrate with other product or
service offerings
• Brainstorm alternate ways in which
you can modify the technology,
business model, etc.
After market
parts
OEM parts
supply
Design device
as a clamp on
system,
enabling end
users to
install Have a fuel
supplier offer
for free as
part of a fuel
supply
contract
18. Licensing vs. venture creation as
commercilization alternates
Factors that favour new venture creation
• Technology is sold as a complete solution
• Market for technology is growing, lacks standards and is not
dominated by major player
• Technology and business development costs are not excessive
• Technology likely to disrupt the market
• Required technical and management expertise and resources
available locally (and not controlled by competitors)
• Inventor wishes to play critical role
• Time to product launch is less than 12 months
• Identified early adopters
• Risk capital readily available
19. Closing Thoughts
• TechConnect process deconstructs the technology
commercialization process into a series of divergent
and convergent stages
• Highlights importance of proprietary technology
• Embeds market facing questions into each process
(speeds up time to market or fails fast)
• Helps inventor identify and choose options
• Asks important questions to ask at each stage
• Helps participants better understand technology
commercialization process (technological/behavioral)
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
A compelling value proposition is one that motivates adoption, where the costs and risks of adoption are significantly less than the benefits.
The value proposition is linked to the motivation to adopt, which is linked to the difference between the benefits and the costs :
How would you quantify the benefits?
How can you demonstrate the benefits?
How does the competitive environment influence willingness to adopt?
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
“What is a cynic? A man who knows the price of everything and the value of nothing.And a sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesn't know the market place of any single thing.”
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.