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Discussion Questions

Discussion Questions. September 6, 2012 POSTECH Strategic Management of Information and Technology Laboratory (POSMIT: http :// posmit.postech.ac.kr) Dept. of Industrial & Management Engineering POSTECH. Discussion Questions (1/4). Chapter 1. Introduction

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Discussion Questions

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  1. Discussion Questions September 6, 2012 POSTECH Strategic Management of Information and Technology Laboratory (POSMIT: http://posmit.postech.ac.kr) Dept. of Industrial & Management EngineeringPOSTECH

  2. Discussion Questions (1/4) • Chapter 1. Introduction • Why is innovation so important for firms to compete in many industries? Factors making innovation important • Globalization • Needs for differentiation • Shorter life cycle Innovation enables firms to • Introduce more product and service-variations, enabling better market segmentation and penetration • Improve existing products and services so that they provide better utility to customers • Improve production processes so that products and services can be delivered faster and at better prices

  3. Discussion Questions (2/4) • Chapter 1. Introduction • What are some of the advantages of technological innovation? Disadvantages?

  4. Discussion Questions (3/4) • Chapter 1. Introduction • Why do you think so many innovation projects fail to generate an economic return? • Technical uncertainty • Will the project result in a technically feasible product or service? • Market uncertainty • What features will customer prefer and what will they be willing to pay for them? • Overestimating potential return • Underestimating uncertainty

  5. Discussion Questions (4/4) • Chapter 1. Introduction • What factors do you think enable an organization to pioneer an innovation? • Advanced information technologies (Technical support) • Technology management strategies • Innovative leader • Organization’s culture open to new approaches

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