Romi Almanzor

MBA-1a
Central Colleges of the Philippines

Managing Technology and Innovation

(by Chris Silvestre)

The organization's management of technology and innovation is important. We have seen

the introduction of novel organizational frameworks and revolutionary ways of doing work in
the past as a result of inventions and new technology. The Industrial Revolution, for
example, ushered in the functional structure of companies. There was a need to incorporate
a more dynamic market structure as business shifted from small craft businesses like
blacksmiths to railroads. Today's information technology advances are transforming
organizational structures to become more network-based, allowing people to operate from
anywhere. Changes in structure are advances in the technology and how work is done;
innovations brought on by new product inventions affect the technology we use and how we
use it.

Technology activities include innovation activities, which are a subset of technology

activities. Within a company and within a sector, innovation refers to "newness" in the
production and application of products and/or processes. Innovation can take many forms,
including invention, new product creation, and process improvement methods. Innovation
management is about dreaming, mobilizing, and competing in new ways, not just designing
new products, services, brand extensions, or technological innovations. For the enterprise,
innovation management entails establishing structures and processes that allow for the
emergence of newness that adds value.

The organization's management of technology and innovation is important. We have seen

the introduction of novel organizational frameworks and revolutionary ways of doing work in
the past as a result of inventions and new technology. In order to generate value,
technology management entails the planning, execution, assessment, and monitoring of the
organization's resources and capabilities.