Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 18, Problem 1CRQ
How do we define technology and innovation, and how are they related?
Expert Solution & Answer
Summary Introduction
To explain:
The relationship between the concepts of technology and innovation together with their definitions.
Introduction:
Out of the common words widely heard within the business context, technology and innovation could be considered as the factors fueling organization to steer ahead. Managing technology and innovation prudently shall lead organizations to success.
Explanation of Solution
Technologies used in organizations could be defined as the mechanism through which a set of contributions or inputs are converted into an anticipated outcome. It further facilitates the functions of evaluating and control.
Innovation involves in bringing in novelty to the organization or an industry, in relation to the products or methods followed. Inventing, development of novel products and process enhancements are some examples for innovations.
Innovations and technology are seen as going hand in hand within an organizational context. The inclusion of novelty in products and workflows is innovation and the explanation as to how it is done is technology. For example, a new organizational structure is an innovation in the technology of how organizational resources and responsibilities shall be allocated among various employees at different levels of the hierarchy.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Make recommendations on how they should solve their problems and work together as a team to make better decisions about the organization's strategic plan.
What are possible reasons why this team is not working well together and accomplishing the organizations's goals? Assess both the team make up as well as the team leader, Eric Holt.
Are trade unions good, bad or indifferent? are you for or against trade unions? NO AI PLEASE
Chapter 18 Solutions
Principles of Management
Ch. 18.1 - How do companies benefit from participating in an...Ch. 18.1 - What impact does electronic trading have on the...Ch. 18.1 - How are management of technology and management of...Ch. 18.1 - How can firms create value through good management...Ch. 18.1 - How has Acer managed its technology and innovation...Ch. 18.2 - How do managers develop technology and innovation?Ch. 18.2 - What are the advantages and disadvantages of each...Ch. 18.3 - Look at the Acer case at the beginning of the...Ch. 18.3 - Look at the Acer case at the beginning of the...Ch. 18.4 - How is Guidance Software responding to and helping...
Ch. 18.4 - What other types of forensics software do you...Ch. 18.4 - What are the benefits and risks of Guidance...Ch. 18.4 - Look at the Acer case at the beginning of the...Ch. 18.4 - What goals did they accomplish?Ch. 18.5 - In the beginning, Acer was very entrepreneurial....Ch. 18.6 - What is organizational learning?Ch. 18.6 - What are the differences between leadership and...Ch. 18.6 - What forecasting techniques are used in the...Ch. 18.7 - How do you keep up with a constantly evolving...Ch. 18 - How do we define technology and innovation, and...Ch. 18 - What are the four areas that need to be managed by...Ch. 18 - What are the five Cs of managing innovation, and...Ch. 18 - How does an organization enhance its agility? When...Ch. 18 - Compare and contrast the advantages and...Ch. 18 - What circumstances indicate a firm should consider...Ch. 18 - How does a firm determine the type of external...Ch. 18 - What are the benefits of using internal sources...Ch. 18 - How does an entrepreneurial firm identify and...Ch. 18 - How does knowledge management impact the...Ch. 18 - Followship is critical to MTl—how does the...Ch. 18 - How does the management of technology and...Ch. 18 - What factors contributed to Novartiss invoice...Ch. 18 - How did IT help the company solve that problem?Ch. 18 - What other uses and functions does Input Accel...
Additional Business Textbook Solutions
Find more solutions based on key concepts
What is a beta? How is it used to calculate r, the investor’s required rate of return?
Foundations Of Finance
Quick ratio and current ratio (Learning Objective 7) 1520 min. Consider the following data: COMPANY A B C D Cas...
Financial Accounting, Student Value Edition (5th Edition)
(Record inventory transactions in the periodic system) Wexton Technologies began the year with inventory of 560...
Financial Accounting (12th Edition) (What's New in Accounting)
1. Based on the descriptions and analyses in this chapter, would Boeing be better described as a global firm or...
Operations Management
E6-14 Using accounting vocabulary
Learning Objective 1, 2
Match the accounting terms with the corresponding d...
Horngren's Accounting (12th Edition)
The approach by which the put options and call options are used to create portfolio insurance. Introduction: Op...
Corporate Finance (4th Edition) (Pearson Series in Finance) - Standalone book
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Read the article ‘Core Values for Responsible Leadership - The Relevance of Ethics for Religion and Development’ by Ike (2016) available at UWllinC. The author singled out core values that they believe are relevant, useful and indispensable for responsible leadership. Select 5 of these core values and align each with an attribute of responsible leadership as identified in Module 1 Unit 1. Give an explanation for each alignment. Discuss using examples how these core values are useful and indispensable for responsible leadership.arrow_forwardYou are the Human Resource Manager of your company and your input has been sought for the following scenarios: Aimee is the mother of a newborn. She is very dedicated to her work but she used to stay for longer hours at work before she had her baby. Now she tries to schedule her work so that she leaves around 5:00 p.m. Her immediate manager feels that Aimee is no longer dedicated or committed to her work and is considering passing her over for a promotion. Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Brett, a sales employee has painful migraines intermittently during the workday. He would like to take short naps during the day as a preventative measure and he also needs a place where he can nap when a migraine occurs. His immediate manager feels that this is unfair to the rest of the employees.…arrow_forwardYou are the Human Resource Manager of your company and your input has been sought for the following scenarios: Aimee is the mother of a newborn. She is very dedicated to her work but she used to stay for longer hours at work before she had her baby. Now she tries to schedule her work so that she leaves around 5:00 p.m. Her immediate manager feels that Aimee is no longer dedicated or committed to her work and is considering passing her over for a promotion. Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Brett, a sales employee has painful migraines intermittently during the workday. He would like to take short naps during the day as a preventative measure and he also needs a place where he can nap when a migraine occurs. His immediate manager feels that this is unfair to the rest of the employees.…arrow_forward
- Identify and describe the technique or method used by the project sponsor to select the project among competing or multiple other projects ideas for the country. Hint: (Benefits Measurement, Constrained Optimization, Other?) Identify and describe five (5) characteristics that made this endeavor a project. Use project data or information to support your answer.arrow_forwardDescribe five (5) benefits of utilizing a project implementation unit (PIU), like the Ministry of Finance and Economic Development-Road Safety Unit, when managing a large-scale project like the Belize Road Safety Project 2012.Outline the problem(s) that the project was initiated to solve or the opportunity it exploited.arrow_forwardExplain the role of HR in promoting diversity equality and inclusion in the workplace. (include scholarly references and in text citations within the last 5 years)arrow_forward
- You are the Human Resource Manager of your company and your input has been sought for the following scenarios: Aimee is the mother of a newborn. She is very dedicated to her work but she used to stay for longer hours at work before she had her baby. Now she tries to schedule her work so that she leaves around 5:00 p.m. Her immediate manager feels that Aimee is no longer dedicated or committed to her work and is considering passing her over for a promotion. Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Brett, a sales employee has painful migraines intermittently during the workday. He would like to take short naps during the day as a preventative measure and he also needs a place where he can nap when a migraine occurs. His immediate manager feels that this is unfair to the rest of the employees.…arrow_forwardYou are the Human Resource Manager of your company and your input has been sought for the following scenarios: Aimee is the mother of a newborn. She is very dedicated to her work but she used to stay for longer hours at work before she had her baby. Now she tries to schedule her work so that she leaves around 5:00 p.m. Her immediate manager feels that Aimee is no longer dedicated or committed to her work and is considering passing her over for a promotion. Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Brett, a sales employee has painful migraines intermittently during the workday. He would like to take short naps during the day as a preventative measure and he also needs a place where he can nap when a migraine occurs. His immediate manager feels that this is unfair to the rest of the employees.…arrow_forwardTask Description: One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external. Tasks: Answer the following essay questions: 1. What are the advantages of being a pioneer and follower company? Provide examples of successful pioneer and follower companies. 2. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made. **Write also liturature with cited as like research paper In text citation, this type: example: (Smith, 2016, p. 5) 1. Give table, charts, diagrams, graphs and images should be properly ****cited and properly named.arrow_forward
- How to reference a course reading in APA styling MGMT3031 - Business Strategy and Policy (ON1) | S2 24/25 unit 1arrow_forwardUsing the company of your choice and analyse the human capital management practices and evaluate how these practices align with the organisation’s overall business objectives, assess their effectiveness, and identify challenges and recommend opportunities for improvement. Based on above can you help me how to approach? • Analysis of human capital management practices • Evaluation of how these align with the organisation’s overall business objectives • Assessment of their effectiveness and identification of challenges • Recommendations of improvement opportunitiesarrow_forwardScenario: Mrs. Ruby Pristine telephones Dr. Practon's office; she is upset and crying. She says that her husband (Mr. Clarence Pristine) fell and she cannot get him up. The student role-playing Mrs. Pristine can “ad lib” Mr. Pristine's condition, thereby making this scenario available to be role-played by different pairs of students who each demonstrate critical thinking skills and telephone technique for a variety of outcomes.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning- MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning