Technological Innovation Research Paper Example | Topics and Well Written Essays - 500 words

Technological Innovation - Research Paper Example To lead in innovations, the concepts of realizing the need, finding people with the relevant technology and citing financial support are key to managing innovations. In addition to this, requirements for diffusion of technology like the knowledge, attitude, the decision to adopt or reject implementation and use and the confirmation of the decision, needs to be put into consideration for effective management (Clark, 2010). These will outline the measure and indicators of the innovation and its overall impact thus enabling decision making. Innovations are meant to bring institutional change through knowledge and application of ideas in relation to the existing products and operations. Innovations change institution’s insight into competitive advantage, new systems, processes and way of conducting business. They are manifested in organization structures of governance, production and marketing systems and employee structuring and specialization. To achieve this there is need to establish leadership to promote, execute and sustain these initiatives. In addition, effective predictions of market/ client trends, generation and evaluation of ideas and communicating the solutions will enhance team work and realization of targeted goals (Conti & Herron, 2006). Technology innovation has impacted the society positively through assurance of convenience, efficiency, comfort and expansion of opportunities. For instance, socially, advancements of telecommunication infrastructure through provision of reliable network and powerful gadgets like computers and smart phones, has integrated the people as they can share ideas and transact business. In the field of business and economics, convenience and efficiency have improved by construction of transport and communication networks which enhance efficient movement of goods, services and ideas