Technological Innovation And Firm Survival

978 Words4 Pages
Topic thesis: What is the link between technological innovation and firm survival in the long term? Is there a instrument companies use to keep relevant with aging products in the market? Is there a way to react to disruptive innovations effectively? When is innovation too slow or too fast?
Introduction
Innovative companies can use technology Management as a set of guidelines or disciplines to allow their organizations to create a competitive advantage. (Burgelman 3). The technology the organization uses for creating a competitive advantage include knowledge, products, tools, methods, and processes used to create goods or provide services. (Christensen 45). Innovations are often viewed as disruptive and risky but a company has several marketable ways to innovate safely without over estimating or under estimating the market 's needs. (Narayanan 93). What is the link between technological innovation and firm survival in the long term? Companies survive in the long term by keeping themselves relevant to the changing needs of their market. A firm will survive by adapting, utilizing, or creating designs that the market values. Inventions are novel technology that could be a product, process, or other creation such as a video entertainment devices or a improved network infrastructure. Companies innovate when they use their inventions to create new products, processes, or services and introduce them into the market for utilization and commercialization. (Inzelt 213).
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