Assignment:
The increasingly important role of technology and innovation in modern strategic management emphasizes that strategic managers have an obligation not only to encourage new product and process development, but also to develop a system to ensure that technology is being used most effectively to result in useful innovations. The reading also describes key issues and techniques under the headings of environmental scanning, strategy formulation, strategy implementation, and evaluation and control. (A 4 page response is required, each section should be labeled Part A, Part B, Part C, Part D, and Part E.)
Part A How should a corporation scan the external environment for new technological developments? Who should be responsible?
Part B What is technology research and how does it differ from market research?
Part C What is the importance of product and process R&D to competitive strategy?
Part D What factors help determine whether a company should outsource a technology?
Part E How can a company develop an entrepreneurial culture?
Readings:
1. Small Business Summit discusses role of innovation, technology
By Myers, Sharon. McClatchy - Tribune Business News ; Washington
2. Entrepreneurship, Innovation and Human Flourishing
By Magnus Henrekson
3. Business orientations and innovation in small and medium sized enterprises
By Elisabeth Zortea-Johnston & Jenny Darroch & Sheelagh Matear
4. Business Model Innovation as Lever of Organizational Sustainability
By Elias G. Carayannis, Stavros Sindakis, Christian Walter