Comprehensive Answers



Comprehensive Answers

Question #1 Define and discuss two key tools and/or strategies that are necessary for success in technology-intensive organizations.

The magnitude and speed for technology advances over the past decades are stunning, reshaping out world and influencing virtually every aspect of life. This current rate of changes is not likely to slow down any time soon. Form the business perspective, the technology is that catalyst that creates wealth. Thus, it also lowers the barriers for market entry and the levels for competitive playing in the field for virtually any business, from the technical products to the financial and medical services and to retailing and transportation.

The speed with which innovations are brought to market is constantly increasing. Under its own power, the sharp rise in requirements is met hardly cost and time in product development. The integration of external partners and customers in the development of new products are crucial for economic success (Phillips, 2007).

Many researchers distinguish three main components of intellectual capital: relational capital, human capital and structural capital. However, the prominent role technological knowledge plays in technology-intensive firms indicates an alternative classification which divides structural capital into organizational capital and technological capital.

Thus, in order to answer the question it is necessary to provide an effective tools that should be used by the managers and professionals who are functioning effectively in technology-oriented business environments like R & D, operations, marketing, field services, and product development. As technology crosses virtually all the entire levels and all the disciplines foe an enterprise, the principles of managing in the technology are relevant not only in the engineering and R& D, however, in any organization or business which must effectively deals with the application, transfer of technology and integration.

According to Mintzberg (1998), it is a fact that over twenty ot thirty years, the management literature has seen the shift in technology focus towards the R& D to the new product and then towards the product enhancement. In the present times, the emphasis is been gravitating towards e-commerce and market development. Moreover the scope for technology management has not much changed.

Overall context and types of Strategy

Through analysing the competitive strategy within the overall context for technological intensive firms, where they operated within the so-called industry, i.e. the consumer electronic industry, cellular phone industry and computer industry. Every ideal industry serves the market that denotes the customers or the buyers for the products and services which is offered by the industry.

For technically intensive firms, technical knowledge is a competency that can be a strategic advantage. Since technological competencies focus on the development of new knowledge, the products generated as a result of such information are unlikely to be understood by the target market (Matheson, 2001).

In the twenty-first century, the so-called new economy has emerged as a phenomenon that those raw intensive economic activities in the generation and transferring of knowledge. This stage of transition to the new economy has raised recently the interest of many academics, public authorities and entrepreneurs, ...