BAHRIA UNIVERSITY ISLAMABAD INNOVATION TECHNOLOGY MANAGEMENT LECTURE 1

BAHRIA UNIVERSITY, ISLAMABAD. INNOVATION & TECHNOLOGY MANAGEMENT LECTURE 1: INTRODUCTION

Let’s get to know each other…. . • Myself ! • You ! • The Subject !

WHO AM I ? § Humayun Akhtar Awan National Engineering & Scientific Commission (NESCOM), Government of Pakistan, Islamabad § Director – Programme Mgmt. / Technology Integration § Qualifications: - MS (Engineering Management) - BS (Mechanical Engineering) - ISO 9000 QMS Lead Auditor § Prior Experience: - Allied Engineering & Services Ltd (CATERPILLAR)-Industrial Sales - Pakistan Tobacco Company Limited (British American Tobacco – BAT) – Manufacturing / TQM / QMS - Freelance Consultant – Quality Management Systems - Packages Limited – Production / ERP - JWT Asiatic Advertising – Client Services - Fauji Foundation – Production / Quality Assurance

TRAINING / TEACHING EXPERIENCE - Lead Trainer on Contract / Proposal Management, Supply Chain Management / Project Management and Warehouse Management at Air University, Islamabad - WTO, ITC and UN Trainer on Supply Chain Management - Guest Trainer for NRSP & IRM on Strategic Planning - Visiting Faculty Member / Thesis Supervisor for Post-Grad and Under. Grad (MS, MBA, MPA & BBA) 2006 onwards: - NUST Business School Iqra University Fatima Jinnah Women University Army Public College of Management Sciences SZABIST, Islamabad Bahria University, Islamabad Riphah International University Air University Management Development Institute (MDi) Pakistan Institute of Development Economics (PIDE)

Introduce yourself I am………………. . . My qualifications ……………. I’ve been working for …. . yrs. I work at …………… motivates me most I wish I was…………. My goals through MS(PM) Goals in LIFE Page 5

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Fail your way to Success 7 “Many people dream of success. To me, success can only be achieved through repeated failure and introspection. In fact, success represents the one percent of your work which results only from the ninety-nine percent that is called failure. -Soichiro Honda, founder, Honda Motors

QUOTE “No organization in the market has an inherent right to do business and prosper; it has to earn that right through strategic planning and remaining competitive by being innovative and being at the cutting edge of its business”. Page 8

INNOVATION MANAGEMENT Page 9

SO, What is INNOVATION? ? ? Innovation is a process of taking new ideas to satisfied customers. It is the conversion of new knowledge into new products and services.

CREATIVITY and INNOVATION are not the same !

FORMS OF INNOVATION • Radical Innovation • Incremental Innovation

FORMS OF INNOVATION Radical Innovation Incremental Innovation

INNOVATION – MAKING A DIFFERENCE

INNOVATION STRATEGIES • • Financial backing to innovation Give opportunities to employees Skillful recruitment policy Information from outside the organization • Target being set for innovation • Employees should be rewarded

WHAT IS INNOVATION? ØDictionaries and textbooks cannot seem to agree! § A new idea, method, or device § The creation (verb) of something in the mind § A creation (noun) - - a new device or process - - resulting from study and experimentation § The introduction of something new § A creative new idea, method, device, or approach that gives a company an advantage over its competitors ØInnovation should have a composite definition: a process whereby a new idea is conceived and detailed in the mind, developed into a physical entity through detailed design, analysis, experimentation, and production, and then introduced to give a company a competitive edge. ØIn simplest terms, however, innovation is simple change for the better.

Technology Wave TECHNOLOGY WAVES Biotechnology Space Environmental technologies mass production Computers Telecomms Advanced materials Software heavy engineering Cars Robotics Airlines Internet Petrochemicals Electrical & heavy engineering steam power Mechanical Engineering Steam engines Synthetic dyes Electricity Process plants Plastics Motorways Weapons Aluminium Machine tools mechanisation Railways Textiles Waterpower Canals Internal Combustion Engine years 1770 1840 1890 1940 1990 cotton coal steel Micro iron transport energy (oil) electronics

WHAT IS INNOVATIVE THINKING? - A means of generating innovation to achieve two objectives that are implicit in any good business strategy: - make best use of and/or improve what we have today - determine what we will need tomorrow and how we can best achieve it, to avoid the Dinosaur Syndrome - Innovative thinking has, as a prime goal, the object of improving competitiveness through a perceived positive differentiation from others in: - Design/Performance - Quality - Price - Uniqueness/Novelty

WHY DO WE NEED INNOVATION? ØAlmost all products follow a “life-cycle curve” having a characteristic shape: ØIf a company does not continue to introduce new products periodically, or at least significant improvements on existing products, it will eventually be on a “going out of business” curve. ØContinuing to come up with the “right” product for the market takes a lot of innovation (plus a lot of “perspiration!”).

WHAT IS THE “RIGHT” INNOVATIVE PRODUCT? ØThe right product is one that becomes available at the right time (i. e. , when the market needs it), and is better and/or less expensive that its competition. ØTo have the right product, therefore, one must: § Predict a market need § Envisage a product whose performance and capability will meet that need § Develop the product to the appropriate time scale and produce it. § Sell the product at the right price

INNOVATION SHOULD IMPROVE COMPETIVENESS ØTo be competitive, an innovative idea should result in a positive perceived differentiation to improve competitiveness. ØAs a few examples will show, however, not all innovation achieves this:

SELLABLE INVENTIONS? (1/4)

SELLABLE INVENTIONS? (2/4)

SELLABLE INVENTIONS? (3/4)

SELLABLE INVENTIONS? (4/4)

THE TOP INVENTIONS OF THE PAST 50 YEARS Page 26

§ 1955—TV REMOTE CONTROL - designed by Zenith's Eugene Polley § 1955—MICROWAVE OVEN - Raytheon's Percy Spencer § 1958—JET AIRLINER - Boeing 707 -120 Page 27

§ 1961—INDUSTRIAL ROBOT - General Motors § 1962—COMMUNICATIONS SATELLITE § 1962— Light-emitting Diode LED Page 28

SELLABLE INVENTIONS? (5/4) OTHER POSSIBILITIES? ? ? ØBattery Powered Battery Charger? ØBraille TV Guide? ØFireproof Matches? ØSolar Powered Flashlight? ØSugar coated Insulin tablet? Ø. . .

CONCLUSION - Innovation can be productive or wasteful. The secret to success is being able to spot the difference in advance and encourage the former. This should be your goal!!

TECHNOLOGY MANAGEMENT Page 31

TECHNOLOGY MANAGEMENT §A set of management disciplines that allows organizations to manage its technological fundamentals to create competitive advantage §Typical concepts used in technology management are: § technology strategy (a logic or role of technology in organization) § technology mapping (identification of possible relevant technologies for the organization) § technology roadmapping (a limited set of technologies suitable for business) § technology project portfolio ( a set of projects under development) § technology portfolio (a set of technologies in use). Page 32

TECHNOLOGY MANAGEMENT § The role of the technology management function in an organization is understand the value of certain technology for the organization. Continuous development of technology is valuable as long as there is a value for the customer and therefore the technology management function in an organization should be able to argue when to invest on technology development and when to withdraw. § Technology Management can also be defined as the integrated planning, design, optimization, operation and control of technological products, processes and services, § a better definition would be the management of the use of technology for human advantage. Page 33

THANK YOU Page 34