The pace and level of investments in new technologies are increasing, made both by companies requiring them, as well as by investors seeking to profit in start-up companies delivering technical innovation as their end product. In addition, the life cycles of new technologies can be excruciatingly short (e.g. new and faster processors for computers appear on average yearly).
Creating the atmosphere within a corporation to foster technical innovation, identify early-stage technologies worthy of further investment, shepherd them through development phases, protect them and launch them as new products or processes is critical to success. Identifying new technologies available from outside the organization on a worldwide basis, as well as judging which technologies will be the key to future developments, is equally vital. Valuing these is another important aspect to a company's strategic planning and business development process.
Overall, technology and innovation must be managed, must be systematically and perpetually built into a company's strategic plan, business process and culture. It is imperative for general managers to know the role of technology in competition, the integration of technology with the firm's strategy, and development of the firm's innovative capabilities.
More specifically, this course will instruct students in:
- Technology as a critical basis of competition, and the rapid proliferation of technical innovation in a variety of industries during the last half century; The evolution of technology strategy;
- The development of innovative capability and the methods employed by successful corporations in promoting internal technical innovation (management issues, organizational Context, investment, employee relations etc.);
- Internal management techniques used to speed implementation and/or release to market of new technologies (integration of R&D, Marketing and Operations);
- Domestic and international intellectual property rights, their importance and protection and external technology souring strategy;
- Worldwide technology screening techniques used for competitive analysis, strategic planning and identification of technical trends, as well as sources for new technology from outside the organization;
- Technology transfer and the negotiation for and obtaining rights to new technologies through acquisition or license, with emphasis on current practice, case studies, as well as management of the negotiation process in international deals;
- Strategy of investment in new technology (venture capital, government investments, university -based research, etc.)
Pedagogically, this course will be team-taught in a mixed format of lecture (including guest lectures), case analysis, and group projects. In addition to reading the textbook and other materials assigned, the students are expected to read current papers in business and technology journals, magazines and newspapers. We will discuss the current issues on technology management in class.
- Class attendance and participation 20%
- Group project presentation and report 35%
- Exams (3) 45%