Technological Innovations and Trajectories in the Manufacture of Gold Jewelry

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TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION1

Technology and Competitive Advantage1

Technological Innovations1

Types of Innovation3

Technology Turbulence4

Research aims and objectives4

Aims4

Research objectives4

Research questions5

CHAPTER 2: LITERATURE REVIEW6

Technology Norms in an Industry6

Production of gold Jewelry7

The Importance of Technology9

Craft Specialization10

CHAPTER 3: METHODOLOGY12

Introduction12

Research Paradigm12

Appropriateness of research design12

Qualitative research method12

Secondary Research Methods14

Using keywords14

REFERENCES15

CHAPTER 1: INTRODUCTION

Technology and Competitive Advantage

Technology is associated with competitive advantage in terms of technological change, or technological innovation. Moreover, technological innovation is considered a driving force for competitive advantage. This linkage has been addressed by Maryon, (1939, 220 ) and other scholars. Technological innovation can create new possibilities for the design of a product, the way it is produced, marketed, or delivered, as well as the way services are provided.

Organizations create competitive advantage by perceiving or discovering new and better ways to compete in an industry to bring those products and services to market (Kunz, 1887, 80 ). Kranzberg, (1978, 119 )indicated that competition is profoundly dynamic in character. There is no equilibrium in competition, and improvement and innovation in an industry are a never-ending process. Competition is a constantly changing landscape in which new products, new ways of marketing, new production processes, and entirely new market segments emerge. From a basic economics perspective, technology is considered a means for transforming available factor inputs, or resources, into marketable value-added outputs. Productivity is the value of those outputs. Improving productivity requires minimizing the cost of resource inputs and maximizing customer perceived value of outputs. Furthermore, continuous productivity improvement is required to sustain a competitive advantage (Brock, Moore, 2006, 119 ).

Types of Innovation

Innovation can be described as two ends of a continuum: radical and incremental innovation. There is no consensus on a definition in the extant literature and there are many different terms to describe similar types of innovation. Radical innovation has a similar meaning as double-loop, explorative, and generative innovation. Incremental innovation is similar in meaning to single-loop, exploitative, and adaptive innovation. Radical innovation produces products and processes that are not similar to existing ones. Kranzberg, (1978, 119 ) describe this type of innovation as, “the pursuit of new knowledge, of things that might come to be known.” Pursuing new knowledge can lead to a larger increase in knowledge stocks but also poses a higher risk of an unsuccessful innovation. Because radical innovation is generating a product or process that the customers are not familiar with, it has a lower probability of success as compared to incremental innovation. The lower probability of success can be offset with a larger increase to the knowledge stocks for a successful innovation.

After its launch, the new product or process can become a candidate for incremental innovation at a later time. Incremental innovation produces an improved product or process. It allows a product or process to move along the same production function, i.e. reduce costs, improve quality, or decrease manufacturing time. Kunz, (1887, 80 ) describe this type of innovation as, the use and development of things already ...