A Report On Advanced Technology Management

A Report on Advanced Technology Management Class week1 to week 5
UMJT1333 Advanced in Technology & Management Research

Raihan Maskuriy PMJ173017
Innovating a Product
Marketable products must come with a value. Valuable products are significantly
correlated with an inclusion of innovation which later able to give some added values to the
products, together with the support from the existence of technologies. These come
together with some well-planned business strategies to sustain the growth of the
organization and company. Marketable products derived from some ideas that normally
generated to improve our lifestyle. During development process of one product, the idea of
creating a product will go through some research processes and screening before entering
the development stage. Test and verification stage needed to justify the product, the
workability of the business plan and the production as well as the operations of the
particular product. Business planning starts at the earlier stage of product development
process to make sure the business strategy goes well and the product is marketable, as
illustrated on Figure 1. Each steps must pass through the gatekeepers and customers whose
task is to assess the standard quality of the proposed product.
Figure 1: Stage-Gate Product Innovation Process with spiral development
When figuring a business strategy, one must consider the profit of the product
should be more than the invested money to pay the staff, to return to the investors and to
invest for future business. Therefore, the business strategy planning department play the
important role to make the business plan successful.
Diverse perspectives are critical to realizing an innovative product, not to mention to
make the product successful. Different people from difference background of education,
social statuses and lifestyle see things on different perspective and have different
perceptions and thoughts on it indispensability as illustrated in the Figure 2.
Innovation products come for the intention of sustaining the ecological value of the
world. On the development of globalization, world has suffering from the environmental
degradation as extraction of the natural resources by the developing and develop countries.
The United Nations International Strategy for Disaster Reduction defines environmental
degradation as "the reduction of the capacity of the environment to meet social and
ecological objectives, and needs”. Therefore, inventing innovation products is one of the
effort to counteract this scenario. To achieve this with a controllable cost, one must do a
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proper planning and under a proper management and research, and this management entity
is called Technology Management.
Figure 2: Diversify of Judgments cause the decision making on the invention an innovation
product
The Technology Management task is 1) to do the screening of the proposed product

based on the research that comes from the ideas, social needs and academic;2) to include
innovation in the designated product 3) to make the business plan real and 4) to do the
business. Meanwhile, the engineers will be realizing the components, systems and services
of the ideas as illustrated in the figure 3. That will include the input of the ICT, electronics,
mechanics and etcetera.
Figure 3: The role of the Technology Management and Engineers from different disciples.
The challenge
Remolding the future is a huge dream that comes with a great challenge. Inventing
an innovation product requires a chuck of money. Only high visionary investors ought to take
the risk to devote their money for a vague future, and the number of investors are limited.
Therefore, there is a limited number of small companies that take part in inventing the
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innovation product. To overcome this and sustain the development of organizations and
companies, companies and organizations must do awareness of the important of innovation
to the future to attract more investors to join the team and enlarge the innovation
companies and organizations.
To sustain a business, a company needs to have more products. However, to execute
the development of the products, the company who has limited number of resources will
loose the chance to produce satisfying products. This happened because the company who
is developing more projects require more resources. Company management plays an
important role to find more resources to be able to sustain and enlarge the company.
Logically, by establishing a rigid management system that fit the company’s business field, it
will kill of the project.
The key factor of a successful product come with a value of the product itself. The
newest the company and newest product in the market, the higher percentage of value. The
current product that being innovated to reduce the cost will have the lowest value in the
market while the product with new invention for a new company has the highest percentage
of value. Product that receive return orders have the probability to success. Therefore,
company must strategies the business planning to make the product successful and keep on
receiving orders. Another key factor of a successful product is the successfulness of the
company. Figure 4 summaries 7 key factors that can make a company successful.
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Figure 4: 7 key factors for successful company
Aside from applying the key factors for a successful company, key factors for successful
products also need to be considered. They are;
1. Need to be unique
2. Meeting customers’ standards
3. Deep screening on the quality of the product
4. Able to explain
5. Do spiral development to check the quality
6. Market the product according to the plan
7. Speed
Able to fulfil all these factors, product must be able to bloom in the market. However, there
are vectors that need to be complied first. Here are the vectors.
1. Strategized bold innovation

2. Incubate the company with the innovation
3. Well screening big idea development in a short period resulting a big product
4. Great company portfolio
There are 7 requirements to make a product development success. And the list are
1. Operation quality, everything must be done perfectly

2. Concentrate on the high priority project
3. Quick doing spiral development
4. Multidisciplinary project team
5. Market focus operation
6. Pre-survey on the product; technology, screening, market value, business plan and
financial evaluation
New Product Development in the Era of horizontally-specialization
Two types of companies

Vertical integrated company Horizontal integrated company
Monopolistic business; has its own R&D, Has small and concentrate investment
and many supporting departments
has sales, finance, marketing, has sales, finance, marketing,
manufacturing, product design, product design, research under 1 roof and
development, research under 1 roof manufacturing on different roof; having
supplier
Most advance technology application Depends on the specialization technology
of the company
Large Medium
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A Report on Advanced Technology Management Class week1 to week 5

UMJT1333 Advanced in Technology & Management Research

Figure 1: Stage-Gate Product Innovation Process with spiral development

The Technology Management task is 1) to do the screening of the proposed product

1. Strategized bold innovation

1. Operation quality, everything must be done perfectly

New Product Development in the Era of horizontally-specialization

Two types of companies

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