What is Technology and Innovation Management?
Technology and Innovation Management (TIM) is a specialized management concentration which offers an understanding of the nature of innovation, the relationship between strategic leadership and innovation, and how organizations use technology and new product development processes to successfully manage change. TIM is a key to growth in a knowledge based economy.
The current competitive imperative is the development of a science and innovation based culture. This identifies that the real engines of competitiveness and economic success remain science, innovation, technology, education and entrepreneurship. An essential part of developing the science and technology is based on sustained competitive advantage which is to strengthen the capacity of organizations to manage innovation successfully.
Technology and Innovation Management is at the intersection of strategy, technology and operations. It provides executives with the understanding of how technology works in the innovation process and enables them to make sound business decisions. Successful innovation is inherently multi-functional and matches a profound understanding of needs and wants of user to a distinctive technical competence.
No company can stand still under the pressure of competition and rising customer expectations. To stand still is to die. Even to survive, you must constantly reduce costs, enhance quality and increase responsiveness. To grow, you must offer new and improved products and services. Whatever the size or business of your company, you must comprehend what kind of innovation makes sense, when to innovate and how to do it successfully.
Technology and Innovation Management encourages the management of innovation and technological change from a variety of perspectives, including strategic, managerial, behavioural, and operational issues. TIM includes the management of innovation, technology strategy, research and development, information technologies and the internet, technology-based entrepreneurship, process technologies, and the commercialization of scientific research.
Institute of Business Studies And Research (IBSAR) is one of the best business schools which offers Master of Business Administration (MBA) in various disciplines.
Originally published at ibsarmumbai90.kinja.com.