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Technology Selection

Technology Selection. Aims & Objective. Identify the criteria that influence the selection of technology. Decide the feasibility of a technology. Technology Scanning. PARADIGM Is a collection of beliefs ,standards, theories and methods shared by scientist that guides their research effort.

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Technology Selection

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  1. Technology Selection

  2. Aims & Objective • Identify the criteria that influence the selection of technology. • Decide the feasibility of a technology

  3. Technology Scanning • PARADIGM • Is a collection of beliefs ,standards, theories and methods shared by scientist that guides their research effort. • PARADIGM SHIFT • Inadequacies in present Paradigm noticed and resolved by intellectual revolution.

  4. Reason for Paradigm Shift. • Changing global environment. • Paradigm shift in aerospace industry is from “design for performance” to “design for affordability and quality” • The need for change. • To meet the need of future and establish new paradigm, new methods and technological breakthroughs. • Eg three pillar of success program by NASA

  5. Important factors for change • Life Cycle of system • Cost knowledge freedom dependency. Conceptual Freedom Production Knowledge

  6. Important factors for change • Fundamentals Reasons for new method • Modern design is probabilistic(uncertaitinity) in nature and evaluation criteria is multi-dimensional.. • Breakthrough Technology

  7. Criteria Classification & Technology Identification • Criteria mainly falls into two catagorries • Intrinsic • Extrinsic

  8. Intrinsic Criteria • Technological capabilities • Resource requirement and availability • Past experience with technology • Decision making system • Time horizon of technological project. • Ability of identification from the perspective of • Humanware • Technoware • Inforeware • Orgaware

  9. Humanware • A buzzword for both hardware and software that are designed primarily around the end user experience and user interface rather than focusing on the task that the product is meant to accomplish. The design of humanware often begins with understanding the needs and limitations of the end user and working backwards to design the final product. Typically, a great deal of testing is done on the product to ensure that its design is enhancing the end user??s experience in the desired way. For example, technology designed to aid persons with disabilities typically begins with understanding the needs of the end user before designing the product

  10. Extrinsic Criteria • Government policies • The techno-economic climate • The risk/return ratio • The market environment • Regulation of technological law

  11. Idea & Opportunity • Idea: Come to everyone everyday but they are typically dismissed or are not assigned any value or potential. • Opportunity: Is an idea that can be turned into business or commercialized in some manner.

  12. Recognition vs Creation • Opportunity Recognition: It happens when an entrepreneur sees a need in the market and identifies a way to satisfy the needs. • Opportunity Creation: It happens when an entrepreneur creates a demand for something that people did not know previously that they need.

  13. Opportunity Recognition Process Hill, Schrader,and Lumpkin created a five step framework for entrepreneurial opportunity recognition process. Its and iterative and not a linear process with many feed back loops. ,

  14. Opportunity Recognition Process • Preparation:(knowledge & experience) • Incubation :(solution finding phase) • Insight:( Solution phase) • Evaluation:(defining business concept and testing in the market place) • Elaboration:(Planning & Evaluation of a company to execute the business plan)

  15. Sources of opportunity • Study an industry(industry value chain):what to do and what not to do. • Talk to customer • Search the patent literature • Government sources • Research works • Value in existing technology

  16. Matching Internal/External Competencies • Feasibility Analysis • Whether there are customers for the concept • Market sustainability • Technical Feasibility • Economic Feasibility

  17. Evaluating Risk & Potential • Industry is dynamic • The stages of growth of Market • Birth • Growth & adaptation • Differentiation and competition • Shakeout • Maturity & decline

  18. Evaluating Risk & Potential Growth Time

  19. Framework for analysis risk & potential Michael Porters frame work market environment • Barrier to entry in the industry • Threat of substitute product • Buyer power • Supplier power • Degree of competitors rivalry

  20. Framework for analysis risk & potential A sixth force technology is added tio this frame work to reflect the dynamic nature of the industry over time • Barrier to entry in the industry • Threat of substitute product • Buyer power • Supplier power • Degree of competitors rivalry • Technology

  21. Product, Process & Market Positioning • Product : Goods or services • Marketing concept • Process • Identifying competing products • Market survey/research • Identifying attributes that define product space. • Determining product location and space. • Detrmining the target market

  22. Product, Process & Market Positioning • Market Positioning(Perceptual location) • Pricing: luxury or cheap • Quality: claims, guarantee, warranty, return policy. • Service: customized or personalized, service & support, value addtion. • Distribution: How do customer obtain your product? • Packaging:Making strong statement.

  23. Selection of technology. Technical Factors • Demand • Capital Cost • Extention Capacity • Compatibility with norms and legal framework • Competitive advantage • Technical skill needed within and outside

  24. Selection of technology. Environmental Factors • Seasonal variation • Negative environmental impact

  25. Selection of technology. Environmental Factors • Seasonal variation • Negative environmental impact

  26. Selection of technology. Institutional Factors • Legal framework • Regulatory framework • National strategy • Support from gov,NGOs. • Stimulation of private sector.

  27. Selection of technology. Managerial Factors • Local economy • Living pattern and economic growth • Living standard and gender balance • Support from gov,NGOs. • Stimulation of private sector. • Household income • Historical perpective

  28. Selection of technology. Financial Factors • Capital Cost • Subsidy policy

  29. Selection Criteria • Average ,or typical efficiency and performance of the technology • Reliability of the technology • Institutional Manageability • Financial Sustainability • Regulatory determinants

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