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Research (Group 1)
Research (Group 1)
A Research presented to
Jozel A. Culangan
December 2020
Abstract
paper will serve as an overview on the said topic. We present the benefits and
readings we’ve done is that technology and innovation is vital in any business
recommendation includes thorough studies in this area and apply innovation not
retain their share of the market. Innovation takes place in various sections and
an art and a science; the process includes, on the one hand, know-how and key
technological skills to provide functionality, and on the other hand, the ability to
inevitable issue.
the USA, Japan and Europe, although in the area of innovation and technology
management, developing countries such as the Philippines are still behind. But in
management skills.
Review of Related Literature
of academic papers have been written in the “innovation studies” field (Fagerberg
and Verspagen, 2010). According to the authors, because of the lack of elements
cranking out the new products that the company needs to develop.
risks, creating the need to establish and incorporate very precise methods of
provide added value (Lee et al., 2013). Innovative technology also empowers
processes (Chen et al., 2012; De Castro et al., 2010) but while it is perhaps the most
evident and charming type of innovation, not all businesses are able to
which have a lasting effect on industry. There are those who change the way
corporations work and provide dramatic enhancement for those that embrace
them. Such innovations enable companies to become lean, agile and flexible
many define innovation as ‘something new’ or a ‘new idea’ (Carayannis, et al., 2015).
new innovations do not transform into goods and services and the majority of new
The fact is that over half of the businesses out there are disappointed with
their creativity. The reaction is always to install new processes of product growth,
expecting to make major gains. But the outcome is typically just paperwork, more
looking for a way around. Innovation in technology advances quickly and does not
conform to the annual plan of evaluation and support that most organizations
from those of everyday business administration. (Tidd, Bessant and Pavitt, 2005:
xiii).
Conclusion
over, we discover that technology and innovation has positive and negative impacts
on business. For the positive impact, it helps the businesses to succeed in its field
because it brings new and improved products and services to market, increases
efficiency, and most importantly, improves profitability. On the other hand, it is still
risky and uncertain. It is also costly and with the innovation of new technologies,
the business has become more streamlined which has led to job reduction of staff,
strategy, it is imperative that the organization be readied for the effort. This
requires agility because changes and adjustments to products and processes are
filled with risk and uncertainty. The management of technology and innovation
must balance short-term efficiency with long-term effectiveness in the market if the
firm is to add value and thrive in a changing environment. Strong dynamic
Recommendation
Some of the reasons why developing countries like the Philippines are still left
behind when it comes to technology innovations, are due to low levels of education
and lack of world class research universities. To solve this problem the government
must send some scholars to developed countries like the U.S, Japan, and Europe to
study and make a research about it. The government must also allocate budget for
Likewise industries respond to market demands. Lastly, the government must put
ideas to market better, faster, cheaper, and more sustainably than ever before
References
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