Innovations and Technology Management

Innovations and Technology Management

Introduction

There has been an assumption that products innovations are typically developed by the manufacturers. However, this assumption deals with basic matters of who an innovator is and thus having a big impact on innovation related research. Innovation and technology management bring with them a lot of advantages in the business. It ensures increase in innovative activity thus preparing the business for market expansion (Schilling, 2010). The Innovation and technology management also ensure that the business build technology roadmaps thus linking technical investments to future needs. The management of innovation and technology helps the business to build portfolios that align technological developments with business goals (Akgün et al 2006). Innovation and Technology Management is very important in the business as it helps design product development strategy which increases the speed and the business productivity. It also effectively collect and assess the intelligence that is important in making proper technology investment decisions which helps in understanding competitors actions.

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