Managing Technology and Innovation - Research Proposal Example

MANAGING TECHNOLOGY AND INNOVATION Name: Course Instructor’s name Institution Date RESEARCH TOPIC: MANAGING TECHNOLOGY AND INNOVATION Background information There has been complaining about the general public on the type of products that there exist in the market that do not comply with the fast moving technological age. The value derived from the products in the markets is not satisfying. Most companies have joined various industries with a lot more only to be disappointed by the poor sales, and they opt to close doors. The technological innovation that is changing the face of business today and is making the traditional way of doing business to be irrelevant today. Most companies that have already been able to manage their technology and innovation issues have been able to enjoy a monopoly of the market share. Companies such as Microsoft and Apple telecommunication companies have been very success by embracing technology and fostering innovation in the industry innovation has been the essential and fundamental reason behind their success in the industry. They are the market giants and the make companies that are impermeable to the technological changes to quit the market (Handerson and Newell, 2011). Most of the Internet Service Providers (ISP) that can embrace technological innovation is fast growing. The economy of a nation is driven by good managers of Technology and innovation. The management is now more sophisticated as each manager strives to keep up with the pace of development. Development of sophisticated processes and they are all focused on the manufacture of high-quality products and provision of quality services that can thrive well in the highly competitive market. There has been a rise in the agricultural innovation and use of technology the latest being the utilization of the Genetically Modified Organisms (GMOs) to keep up with the stress of food security in most of the developing nations.(Steven S.and Marco I.2010). Research Problem Statement There has been a fall of many companies that fail to embrace technological innovation. Many business enterprises have been closed down due to failure to manage their technology and innovation. Technology has changed others sectors of the economy, and the need for proper management of both technology and innovation cannot be overemphasized. Governments are doing all they can to ensure that they are fostering the technological advancement and also innovation in all sectors of the economy. Some of the problems facing developing nations include the level of technology that affect both businesses and give the developed countries a competitive advantage over them. Hence the need to manage technology and innovation effectively. Many market players have not achieved absolute technological advancement and majority of the organizations are lagging behind due to their failure to manage technology and innovation (Cochran 2007). Hypothesis of the study Many organizations are unable to manage their technology and innovation. This makes their products less appealing to the customers, and these organizations will face stiff competition from their counterparts who are up-to-date with their technological innovation. The customers suffer the risk of getting poor quality products from the organization that is still in the traditional systems of production. There is, therefore, the need to ensure the of managing technology and innovation is well understood and taken care of lest the organization loses clients (Handerson and Newell, 2011). The research will be carried out for a period of one semester (three months) by way of going through the literature review of the secondary data, collection of primary data and analyzing it, and also being keen on the challenges that faced by organization pertaining managing technology and innovation. Achievements made by a few firms that have exercised full effect of managing technology and innovation will be analyzed. Through the analysis, the knowledge gaps will be identified (Christensen, 1997) Importance of the research topic; This question of managing technology and innovation is of paramount importance as it is the critical area of the development and growth of an economy. The current trends in development require innovativeness and technology plays a key role in the development of any economy. To develop the capabilities of an organization to manage innovation, technology ought to be established. The operations of an organization, its technology and strategy are majorly depended on the how innovation and the technology of that organization are managed. The people in management can note how technology helps in innovation. The clear understanding of this relationship helps in good decision making in business (Mustafa, 2014). Each and every firm needs innovation for its success and also to stay relevant and to survive the stiff competition from other firms. Regardless of the size of the company or its line of production, a company can attain success without an interplay of technology and innovation management and they are also a comparison requirement for any manager who wish to be ahead of the rest. This will give them a competitive advantage in the industry (Michael and Mark, 2003). The way the development of management of specific levels of technological advance. These advancements are very important in business strategy that is often brought about by rapid changes in technology and innovation. The advancement is very detrimental in improving the quality of lives and also enabling boosting the economy of a nation. This research also will reveal information to managers who wish to transform their relevant fields and be competitive in the global markets. The era we are living in, is one where there is a lot of knowledge and a clear understanding of technology and innovation is important for anybody who wishes to deliver quality products for sale to the business environment that is very conscious of technology and innovation. (Steven and Marco, 2010). The research also focuses on the avenues through which products in the market can be improved for the consumers to derive more value from them. This will also stimulate economic growth by way of showing the innovative strategies that are relevant to the development of various sectors of the economy. This also helps challenge the traditional methods that are retrogressive and yet are being used. This contributes to come up with strategic decisions of operation of an organization that is concise. Technology is the primary agent of economic growth in most of the organizations and business enterprises that are competitive enough (McWilliams and Siegei, 2000). Aims of the Research The primary objective of the study is to enlighten the managers of various organizations on the importance of being able to manage technology and innovation and also to educate the general public on the need to be conscious of changing technology and also benefits that are derived from a high value products from companies which manage their technological innovation well.(Mustafa F.2014) Promoting management of technology and innovation in an efficient manner Embracing the change that come with the technological innovation in business Ensuring the information researched herein is publicized and made available to the general public To ensure that the relevance of technology and innovation management is taken seriously Help the business organization realize that technology and innovation key to success. To help managers who wish to be in the competitive world of business to realize how relevant technology and innovation are. To indicate how best innovation and technology can be managed by the custodians of a nation’s economy To indicate the challenges, this may face a firm if technological innovations are ignored. Establishing how challenges that exist in the business environment can be tackled with the help of Technology and Innovation. To ensure that tools and ways that can be helpful in measuring capacity for innovation that is carried out by organizations To establish how firms and organizations can embrace the new technologies and an efficient innovation management system. To help in help give a foresight in the future moralities of technology and innovation that will foster development and also boost a nation’s economic growth. Establishing the responsibility that the society towards the management of technology and administration. Research Objectives. To enhance the capability of companies to manage technology and innovativeness To enhance the picture of a nation’s ability to manage technology Development of entrepreneurs who are well versed in technology for global competition To stimulate business innovation. To help in the advancement of intellectual property management. To help transform and advance the information available through innovation and technology. To enhance technological entrepreneurship and show ways to lower unemployment in a nation. To elaborate how technology can be used to boost the well-being of society. To give a more elaborate view of how technology and innovation can be used in project management. To show how those innovations that are technology based can be marketed and exploited to generate income to firms To show how new firms can be used can grow through use of technology To help identify the technological advancements and exploit the many opportunities available that lead to innovation of products. Research methodology Introduction This chapter seeks to look into the way the whole research will be designed and how data will be gathered using various methods. Issues that pertains the design of the research, the people who are targeted by the research, the sampling methods and techniques to be used in the data collection, the procedures to be used in gathering data and analyzing the same date data, techniques of sampling and the equipment to be used in the data collection, the setbacks of the research and the ethical practices are among the key areas to be looked into in this part. The data collection will involve obtaining of both secondary data and primary data. Research design and target population The whole research will focus majorly on the management of technology and innovation. Primary data will be obtained by use of questionnaire and also use of electronic mail will be vital in the data collection, and direct interviews with the general public on their preference of the market products will also help obtain data in detail. The questionnaires will be supplied to the best-performed organizations in ranking in our nation some questionnaires will also be supplied to the general public who are the direct consumers of the products in the market environment Sampling Design and data collection techniques Random sampling will be preferable and will be used to respondents that will be obtained from different geographical areas , face-to-face interviews will be very crucial especially in meeting up with the managers who have been successful in their organization and also the interviews can include the general public who are the consumers of whatever products produced by the firms. Also, questionnaires will be extensively used as primary data collection technique. Data analysis and data presentation Data will be processed and analyzed before the presentation of the data will be done. The responses from the questionnaires are analyzed, and use of the computer to check the data and analysis will be done by way of using tables and computer will be used to ensure tabulation is accurate. Appropriate charts will be drawn for presentation of the data for example by showing the future trends in profitability of organization that embraces technology and innovation And the future losses of the firms that will ignore technological innovations Data analysis and presentation of the findings The research will seek to discuss the findings emanating from the data collected both from the questionnaire distributed and were filled effectively by the respondents. The questions are b the relevant questions that are in line with the aims and the objectives of the research. Findings from the interviews carried out are also vital for the presentation. Research project timetable Week Project goal Related objective activity Expected completion date Person responsible 1 Understand the need for technology innovation. Assess the needs of technology & innovation Retain the subject for the continued study of the matter Ongoing Project supervisor 1 Start obtaining primary data Conduct interviews Conduct over 400 follow-up interview Ongoing Project supervisor 2 Get more primary data Distribute questionnaires Ensure that target population gets the questionnaires. Ongoing Project supervisor 3 Submit the papers for the details on the level of technology Ensure that well detailed reported has been written about the level of technology Project supervisor 4 Enhance the general understanding of the level of technological innovation The level of adoption and management levels of both technology and innovation in organizations. Access whether all the companies that are successful are those that have embraced technology and whether those who fail and quit the industry are the conservative of the traditional methods. The affirmation to be noted down for analysis later. The feedback from the interview to be revised. 1month Project Director 4 Identify any setback to embrace technology and innovation. Examine the perceived barriers to adoption of technology and innovation Outline how the organizations can overcome the limitations. 1month Project Director 5 Enhance the understanding of the of how various companies react towards the introduction of new technologies Note the difference in investment in technology and the attention given to innovation 1 month Project Director 6 Thorough assessment of the technological innovations in the selected companies or organization Assess the development of technology in various companies and factors that have led to the success of the company Draw graphs and also with the help of computer analyze the raw data 2months Project Director 7 Data analysis and presentation preparation for presentation . Use of computer to analyze data 2 months Project Director PART B: PROJECT PROPORSAL PROJECT PROPOSAL FOR A RESEARCH PROJECT ON MANAGING TECHNOLOGY AND INNOVATION A RESEARCH PROPOSAL TO BE SUBMITTED TO THE SCHOOL OF SOCIAL SCIENCES, BUSINESS AND LAW TEESSIDE UNIVERSITY DECLARATION This research proposal is my original work and has not been presented for degree award in any other university. DEDICATION I dedicate this project with much love and appreciation to my beloved family and friends whose words and patience have been my source of encouragement and inspiration. ACKNOWLEDGEMENT I would like to thank God almighty for giving me the strength, knowledge and life to come this far in my journey of education. I would wish to thank my family, for moral and financial support during this period of study, my friends and classmates for their encouragement and critics. I would like to thank my supervisor and mentor for his constructive critiques and recommendations. God bless you all. ABSTRACT The study seeks to establish the influence of technology and innovation management strategy in business organizations and companies in our nation Specifically the study aims to ascertain the influence technological innovation to organizational performance, to explore the influence of products that of high quality and their performance in the market, to determine the influence and to examine the influence of managing technology and innovation to the success of organizations. The literature reviewed indicates that there is the need to ensure that companies and organization manage their technological level in order to maintain a competitive advantage in the global market. Some researchers indicate the importance of elaborate measurement managing technology and innovation. The study will adopt a descriptive research design. A survey of about ten (10) companies will be conducted some of which are doing very well in the global market and some that are doing below average conducted on the target population. The target population will be based on the sampling clusters available with and those that will be set selected for the research within the country. Questionnaires will be used as the main data collection instrument, and a pilot study will subsequently be carried out to pretest questionnaires for validity and reliability. The gathered data will be analyzed using Statistical Package for Social Sciences (SSPS), and findings will be presented in frequency tables, figures, and graphs. Project Timeframe: Two months Prepared by Name of the student Attached Documentation: Research portfolio Project Contacts: Name of the student Contact: Email address: Name of the project supervisor Title: Role in the project: Contacts: Email address: Name of the project director Title: Role in the project: Contacts &Email address: Project Summary The project basically focuses in determining how technology and innovation can help change the organization performance. It will determine what technological innovation can do to an organization that embraces it. The research will also establish the reason for the failure of various companies that have been able to close doors .The main aim of the study is to enlighten the managers of various organizations on the importance of being able to manage technology and innovation and also to educate the general public on the need to be conscious of changing technology and also benefits that are derived from a high value products from companies which manage their technological innovation efficiently. Research Objectives To enhance the capability of companies to manage technology and innovativeness To enhance the picture of a nation’s ability to manage technology Development of entrepreneurs who are well versed in technology for global competition To enhance technological entrepreneurship and show ways to lower unemployment in a nation. To elaborate how technology can be used to boost the well-being of society. To give a more elaborate view of how technology and innovation can be used in project management. To show how new firms can be used can grow through use of technology To help identify the technological advancements and exploit the many opportunities available that lead to innovation of products. To explore the influence of technology and innovation management in the organizations and their strategy on the entire competitive business environment. To stimulate business innovation and help in the advancement of intellectual property management. To help transform and advance the information available through innovation and technology. To give a more elaborate view of how technology and innovation can be used in project management. How the research will be done The research will be done by way of collecting information from the companies that has experienced tremendous success. Conducting interview from the general public on their preferences and satisfaction derived from the products they are using from various companies. There will be giving out of questionnaires and interviews .The research will take about two months. Research questions (I) what is the influence of technological advancement and innovation on the economy of our nation? (ii) How does technology influence innovation of the business organizations in the country? (iii) How does the new technology influence the type of products being released to the market? (iv)What is the influence of the new innovations in the processing and manufacturing of goods and services? Significance of the study This topic of managing technology and innovation is of paramount importance as it is the key area of the development and growth of an economy. The current trends in development require innovativeness and technology plays a key role in the development of any economy. In order to develop the capabilities of an organization to manage innovation, technology ought to be developed. The operations of an organization, its technology and strategy are majorly depended on the how innovation and the technology of that organization are managed. The people in management are able to note how technology helps in innovation .The clear understanding of this relationship helps in good decision making in business. (Mustafa F.2014). Each and every firm needs innovation for its success and also to stay relevant and to survive the stiff competition from other firms. Regardless of the size of the of the company or its line of production, a company can attain success without an interplay of technology and innovation management and they are also a comparison requirement for any manager who wish to be ahead of the rest. This will give them a competitive advantage in the industry (Michael and, 2003). The research also focuses on the avenues through which products in the market can be improved for the consumers to derive more value from them. This will also stimulate economic growth by way of showing the innovative strategies that are relevant to the development of various sectors of the economy. This also helps challenge the traditional methods that are retrogressive and yet are being used. This helps to come up with strategic decisions of operation of an organization that is concise. Technology is the main agent of economic growth in most of the organizations and business enterprises that are competitive enough (McWilliams and Siegei, 2000). The way the development of management of specific levels of technological advance. These advancements are very important in business strategy that is often brought about by rapid changes in technology and innovation .The advancement is very detrimental in improving the quality of lives and also enabling boosting the economy of a nation. This research also will reveal information to managers who wish to transform their relevant fields and be competitive in the global markets. The era we are living in, is one where there is a lot of knowledge and a clear understanding of technology and innovation is important for anybody who wishes to deliver quality products for sale to the business environment that is very conscious of technology and innovation. (Steven and Marco, 2010). Scope This study takes the form of research in which in-depth theoretical and empirical literature review is done to discuss the influence technology and innovation management performance. The study focuses on the 10 companies in (name of country) and also the data obtained from the general public is important in the formulation the conclusion. Hypothesis of the study Many organizations are unable to manage their technology and innovation. This makes their products less appealing to the customers, and these organizations will face stiff competition from their counterparts who are up-to-date with their technological innovation. The customers suffer the risk of getting poor quality products from the organization that is still in the traditional systems of production. There is therefore, the need to ensure the of managing technology and innovation is well understood and taken care of lest the organization loses clients. (Handerson and Newell, 2011). LITERATURE REVIEW Introduction This chapter involves locating, reading and evaluating reports of previous studies, observations and opinions related to the study. This chapter will cover conceptual framework, and empirical review, critique of the existing literature, research gaps and summary. Empirical Review There is the provision of insights into current practice and future requirements technology and innovation including issues relevant management of this advancement by firms. Included among these issues are: successful implementation requires organization-wide coordination; to monitor the performance of an organization in the very competitive market. Technological improvement is very important where organizations ought to have their objective in market set right. Improvement of the technology and fostering research is very important to an organization. Additional and creative efforts are needed to design new measures. Previous research has made predictions the market requirement in terms of technology. (Mustafa F.2014), Critique Organizations face barriers and enablers to technology and innovation these can be either internal or external to the organization. What is less clear from previous research is whether certain types of organizations are more internally or externally motivated to embrace the new technology and to invest more in innovation, organizations are struggling with implementation of the new technologies and also in accepting to use the latest innovation in their manufacturing and processing levels. This is due to unfamiliarity, uncertainty and inexperience. Majority of existing literature shows how the advancement of technology and innovation has been implemented in developed countries but not in developing countries in Africa hence this study aims to find out the relationship between Technological advancement and innovation and the success of a Summary The technological advancements and the new innovations in the world of business such introduction of the e-commerce and other production software developed in the field , cooperation with customers, large organizations need not only good technological and innovation management but also external cooperation and coordination with customers in their marketing strategy . To adopt more proactive strategic technological strategy is essential for manufacturers to make collaborative efforts with customers Reviewed literature generally agrees that improvement of technology to ensure that the there is acquisition of products that most effectively do well in the competitive market Research suggests improvement of technology and management of innovation ensures low raw material costs, production efficiency gains, reduced environmental and occupational safety expenses, and improved corporate image. Research also suggests that not only marketers but consumers are also concerned about the type of technology used in the manufacturing of the products and consumers are also changing their behavior pattern. Now, individual as well as industrial consumers are becoming more concerned Technology and quality of products and how much benefits accrue from the use of highly researched products which are also produced using the high level of technology. The literature review also noted the importance of government policy that enables the regulatory authority to ensure compliance while measuring the quality of products that are produced by accompanying which are meant for consumption. Research Gaps Today firms are starting to realize that technological advancement and keeping up with new innovation will keep the customers loyal to the products produced by the company and this therefore means that Technological advancement cannot be taken for granted Customers are increasingly demanding to know more about the products and the technological relevance of the products. Especially for mobile phone companies, technology and innovation are key for the customer to buy such products. There is therefore need to discuss the relevant technological advancement and the issues that are emerging in innovation. Nevertheless, buying high-quality products doesn't necessarily mean paying more, especially when other cost factors are considered. Firms manage their technology and innovativeness properly to ensure that they compete well in the business environment. (Michael E. and Mark R. 2003) Instruments The study will employ a questionnaire with both structured and semi-structured questions in relation to the study objectives as a key instrument for primary data collection. Questionnaires are preferred since according to (Dempsey, 2003) they are effective data collection instruments that allow respondents to give much of their opinions relating to the researched problem. According to Kothari (2006) the information obtained from questionnaires is free from bias and researchers influence and thus accurate and valid data will be gathered. Secondary data will be collected through e-resources, published scholarly articles, journals, newspapers, magazines, books and other relevant literature. Data collection procedure Both primary and secondary data will be used in the study. The researcher will use semi-structured questionnaire with open and closed ended questions. The questions are designed in such a way as to elicit answers to all pertinent issues in order to provide solutions to the research problem. The respondents will be assured of anonymity and confidentiality. Generally it is relatively quick to collect information using a questionnaire. The responses will be gathered in a standardized way, so questionnaires are more objective, certainly more so than interviews. The secondary data entails empirical and theoretical works of literature as studied by other researchers as well as observation, and interview guide so as to overcome flaws inherent in the use of one method. Pilot study Pilot Study refers to feasibility studies which are small-scale versions or trial runs done in preparation for the major study. A pretest prior to the actual study will be carried out to enable the researcher to access the clarity of the instrument and its ease of use. Pre-testing allows errors to be discovered before the actual collection of data begins, and 10% of the sample size is considered an adequate pilot study. The pilot data will not be included in the actual study. The pilot study will allow for pre-testing of the research instrument. The clarity of the research instruments to the respondents will be established so as to enhance the instrument’s validity and reliability. The pilot study will enable the researcher to be familiar with research and its administration procedure as well as identifying items that will require modification. The result will help the researcher to correct inconsistencies that will arise from the instruments, which will ensure that they measure what is intended. Data reliability will play an important role towards enhancing generalization of gathered data to represent the true characteristics of determinants of technological advancement and innovation Data processing and analysis Data will be analyzed quantitatively and qualitatively. This is because the researcher will use open ended and closed ended questions in the questionnaire. Quantitative data from the questionnaires will be checked for completeness, errors, and coded for analysis using Statistical Package for Social Science (SPSS). Quantitative analysis will be analyzed by calculating the frequencies, means and Standard deviations will be appropriate statistical tools as they will show the distribution against each of the variables under investigation. Data will be presented using tables, graphs, pie charts and figures appropriately. Inferential statistics using correlation analysis will also be carried out to establish the nature of the relationship that existed between variables. Multiple regressions will be used to obtain an equation which describes the dependent variable in terms of the independent variables based on the regression model; regression is used to determine the type of relationship (Patton, 2002). RESEARCH BUDGET Breakdown: ITEM AMOUNT ($) Stationery 300 Transport cost 1000 Typing, binding & printing 1,000 Contingency 900 Photocopy 100 Library fees 140 TOTAL 3440 WORK PLAN Activity Description Month 1 month 2 1 Research proposal preparation Ongoing 2 Research proposal approval by the supervisor Ongoing 3 Research proposal defense Ongoing 4 Data collection Ongoing 5 Data analysis and presentation Ongoing Final project presentation Ongoing Reference List Clyton M.Christensen (1997)"The innovator's Dilemma: When new Technologies cause great firms to fail" Mustafa F. (2014) Being Socially Responsible By Managing Technology and Innovation. Philip L.Cochran (2007) Article on “The evolution of corporate social responsibility “Business Horizons 02/2007 Michael E. and Mark R. (2003) "The Competitive Advantage of Corporate Philanthropy “Harvard business review 01/2003 McWilliams A. and Siegei D. (2000)” Corporate Social Responsibility and Financial performance” Strategic management Journal 05/2000 Handerson R.and Newell G. (2011)”Accelerating Energy Innovation." Steven S.and Marco I. (2010)”One strategy: Organization planning and decision making” Clyton M.Christensen (1997)”The innovator’s Dilemma: When new Technologies cause great firms to fail." Philip L.Cochran (2007) Article on “The evolution of corporate social responsibility “Business Horizons 02/2007 Michael E. and Mark R. (2003) “The competitive Advantage of Corporate philanthropy “Harvard business review 01/2003 Francis Bell (2011)”connectivism: It’s Place in Theory-Informed Research and innovation in Technology-Enabled Learning." Fleck. J (1988)”The nature of technological developments in robotics (Edinburg PICT working paper, 4)” Horowitz, B. (2006)”creators synthesizers and consumers” Mackenzie, D., & Wacjman, J. (Eds.) (1999) “The social shaping of technology .Milton Keynes, UK:” Open University Press McWilliams A. and Siegei D. (2000)” Corporate Social Responsibility and Financial performance” Strategic management Journal 05/2000 Handerson R.and Newell G. (2011)"Accelerating Energy innovation." Steven S.and Marco I. (2010)”One strategy: Organization planning and decision making” Read More