AMBAI Certificate M&BA Program - Technology and Innovation Management

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Study Guide	This is a Study Guide. As the name implies, it guides the student in the reading of the textbook, The Virtual MBA. The textbook is divided into 12 Chapters and each chapter into several Sections. Sections are numbered consecutively from the beginning to the end of the textbook. We will refer you to the textbook by citing the Section number. This Subject is based on Chapter XI of the textbook.
"Know-how" and "Can-do"	There is a difference between knowing how to do something and being capable of actually doing it well and cost-effectively. The textbook stresses the difference. Also, several ways to acquire technology are listed. Now please read Sections 138 and 139. of the textbook and return to this point of the Guide. Please answer the questions.
Self- evaluation questions	Question 1 In addition to trained personnel and capital, the textbook mentions one more necessary item for "can-do". Which is it? See Model Answer A1
	Question 2 Please recall at least 3 of the 4 basic ways to acquire technology. See Model Answer A2
Technology Strategy	Not only "high-tech" firms must worry about having a technology strategy. Even "low-tech" firms must be aware of developments in their field, assess how these changes may affect them or open opportunities, and eventually implement changes. Now please read Section 140. of the textbook and return to this point of the Guide. Please answer the questions.
Self- evaluation questions	Question 3 Please recall the 3 basic elements of a technology strategy. See Model Answer A3
	Question 4 Which is the first step in the process of evaluating upcoming technologies? See Model Answer A4
Invention, creativity and innovation	To invent something radically new, as Edison and other famous inventors did, is not so easy nowadays. Technologies are very complicated and usually to invent something is the result of an expensive and systematic R&D process. Now please read Sections 141. and 142. of the textbook and return to this point of the Guide. Please answer the questions.
Self- evaluation questions	Question 5 Commercial firms try to "bring new profitable products or services into the market". This is one of the objectives of which activity? See Model Answer A5
	Question 6 When a company is open to innovative ideas, many of them will be received. Which is the key objective when evaluating these ideas? See Model Answer A6
Many new ideas come from internal sources	All employees should be motivated to contribute innovative ideas. And none should be discarded because the person who originated it is not a specialist. Now please read Section 143. of the textbook and return to this point of the Guide. Please continue
Putting new ideas into practice	To select worthwhile ideas is not easy. Investing in a bad one is costly, but failing to act on a good one may be very costly too. Baking a new idea without enthusiasm almost never works out. Once an idea is considered as deserving to be pursued, it should be strongly supported. Now please read Section 144. of the textbook and return to this point of the Guide. Please answer the questions
Self- evaluation questions	Question 7 When a new idea is first considered, what should be postponed? See Model Answer A7
	Question 8 Who should be involved in decision making regarding a possible innovation? See Model Answer A8
Here we say: So long!	This is the End of the Study Guide for the Subject Technology and Innovation Management.

A2 - Hire expert personnel. License or technical assistance agreements. Get it from equipment manufacturer. In-house R&D. Back
A1 - The means to market the goods (or services, we may add). Back
A4 - Decide which technologies may impact the business (negatively or positively) Back
A3 - Awareness, assessment, implementation. Back
A6 - Identify the ones justifying investments and eventual implementation. Back
A5 - Innovation. Back
A8 - All relevant sectors of the company. Back
A7 - Criticism. Back

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