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Technological Innovation, risks

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Research the topic of technological innovation and submit four page overview of your findings. Include in your research at least two of the following topics.

1. Creative disruptions (disruptive technology)
2. Impact of technology innovation on social change
3. Technology risks
4. Leading/managing innovation
5. Commercializing innovation
6. Innovation and organizational change

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Solution Summary

Researches the topic of technological innovation.

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Technological innovation has become a strong buzzword in today's time due to dynamic and rapidly changing transformations in the technology industry. Innovation is considered as a must have tool for companies to remain competitive in the industry. Consumer's preferences and needs are rapidly changing and companies are trying hard to come up with new and innovative technologies on a much faster basis. Further, technological innovation has become an integral element of the operations and strategy of an organization and is seen as a critical tool to sustain competitive advantage, efficiency and quality in organization's processes and systems.

Technology Risks: Technological innovations are full of risks and require substantial financial and other resources to pursue. An organization should be aware of such risks in advance and implement appropriate risk management strategy to pursue technological innovation. The risk management or contingency plan should ensure smooth and adequate availability ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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