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Engineering Innovation and the Technology Adoption Life Cycle

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Some reasons for buying: I need a new car anyway. My best friend just bought one ... Some reasons for not buying: Too expensive. Just bought a new car ... – PowerPoint PPT presentation

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Title: Engineering Innovation and the Technology Adoption Life Cycle


1
Engineering Innovation and the Technology
Adoption Life Cycle
  • ELE 41EMT / ELE 41 EIB

George Alexander G.Alexander_at_latrobe.edu.au www.la
trobe.edu.au/eemanage/
15 March, 2005
2
Activities Schedule
  • Teams formation 08 March
  • Individuals Executive summary 15 March
  • Selection of a service/product 22 March
  • Executive summary presentation 5 April
  • Business plan preparation On-going
  • Tutorials and group meetings On-going
  • Business plan presentations 24 May
  • Business plan presentations 31 May
  • Submission of the Business Plan 10 June

3
Individuals Executive summary due 15 March
  • Due today
  • Remember to attach Statement of Authorship
  • Post in designated box.
  • Late enrolments requiring extensions please
    email me.

4
Teams
  • Should now be formed.
  • Any problems?
  • Send me copies of minutes, including team member
    names.

5
What is Innovation ?
  • Purposeful, deliberate, and pragmatic process to
    create new or different ways of carrying out
    business which results in added value to
  • Customers,
  • Suppliers,
  • Employees, and
  • Shareholders.

6
What is not Innovation ?
Just Invention and Commercialisation of New
Products
7
The Innovative Business
A Top-Down approach
Business Concept Definition
What business are we in?
What we offer and to whom? Whom do we compete
against?
Product / Service /Market Definition
Timeliness Responsiveness
Concept to Market and Order Acquisition to Order
Fulfilment Process
Enabling System Managing Performance, Resources
and Information
How we do it?
Maximum Advantage
8
The Innovation Process
Open and challenging culture
Appropriate technology materials
Skilled challenged people
New Value Adding Change
Inputs
Outputs
  • Strong leadership commitment.
  • Understanding of market realities.
  • Stronger customer loyalty.
  • Ability to command prices.
  • Share improvement.
  • Market leader.

Lateral parallel thinking
Enabling systems
Effective efficient processes
9
Eureka Prizes
  • Run by Australian Museum
  • Sponsored by public and private institutions
  • Innovation in the fields of
  • Education
  • Innovation and Leadership
  • Research
  • Science Communication

http//www.amonline.net.au/eureka/index.htmindust
ry
10
Other innovation activities
  • LTU Quest
  • Business planning for students
  • To be launched end of April
  • YAA
  • Young Achievement Australia
  • Australia-wide
  • Sponsored by the business community
  • La Trobe YAA 30points over two semesters
  • http//www.latrobe.edu.au/yaa/html/ltu_yaa.htm
  • http//www.yaa.org.au/about.html

11
So, What is Innovation!
  • a better way of achieving the same outcome!
  • improvement of a product or a process as a result
    of new ideas!
  • optimisation of a process to make good use of
    scarce resources!
  • flashes of inspiration at unexpected times!
  • a result of Research Development!
  • others!

12
The Electric Car
Lets assume that the Electric Car is finally a
reality and is being sold on the market ! When
are you going to buy one ?
http//www.gmev.com
13
(No Transcript)
14
Some reasons for buying
  • I need a new car anyway
  • My best friend just bought one
  • Cant wait to see how it performs
  • I enjoy having the latest technology
  • It would be better for the environment

15
Some reasons for not buying
  • Too expensive
  • Just bought a new car
  • I doubt the claimed performance
  • My idea of a car is to get me from A to B
  • I would like to see someone else buy it first

16
Recall from before ...
Innovation is a purposeful, deliberate, and
pragmatic process to create new or different ways
of carrying out business which results in added
value to customers, suppliers, employees, and
shareholders.
17
Innovation involves Change
  • Change in product characteristics
  • Change in the way we use products
  • Change in manufacturing processes
  • Change in the way we run business
  • Change in the way we live
  • etc. ….

18
Why change ?
We want you to have the best
Making life easier
Because Im worth it
For a very special person, you !
19
Why not change ?
  • Disruption to current practices
  • What is wrong with the way we doing it now ?
  • Current investment and stock
  • Dramatic loss in economy
  • Negative impact on employment
  • Who is going to gain from the change ?

20
Western Union - internal memo 1876
This telephone has too many shortcomings to be
seriously considered as a means of communication.
The device is inherently of no value to us.
21
Some more quotes ...
Everything that can be invented has been
invented
Charles H Duell, Commissioner, US Patents, 1899
There is no reason anyone would want a computer
in their home
Ken Olsen, Chairman of Digital Equipment, 1977
22
Types of Innovations
  • Continuous innovations
  • Discontinuous innovations

23
Continuous innovations
  • No significant change in the way customer uses
    the product
  • No significant change in the infrastructure
  • Increase in the level of benefits and usefulness
    of the product

24
Discontinuous innovations
  • No compatibility between old and new product
  • New infrastructure required
  • throw away existing product
  • may bring more benefits and features

25
Examples for discussion
  • Colour TV
  • Digital Camera
  • Compact Discs
  • E-mail / Voicemail/ Fax-mail
  • Data Communication over PSTN
  • PC (286, 386, 486, Pentium, etc. )
  • Airbags and Anti Lock Brakes on cars
  • Mobile Phones (AMPS / GSM / CDMA / WCDMA)

26
Technology Adoption Life Cycle
Laggards
Innovators
Late Majority
Early Adopters
Early Majority
27
Innovators
  • Technology is central interest, regardless of
    actual function it performs.
  • Strong desire to explore the new devices
    properties.
  • The number of innovators in any given market
    segment is usually small.

28
Early Adopters
  • Like innovators, early adopters buy into new
    product concepts very early in the life cycle.
  • Unlike innovators, early adopters are not
    technologists.
  • Early adopters relate new technologies to
    benefits, and generally willing to take some
    risks.

29
Early Majority
  • Early majority shares some of the early adopters
    ability to relate to technology.
  • Early majority is driven by strong sense of
    practicality.
  • Early majority is a less risk-taking group, well
    established references are require before any
    substantial investment.

30
Late Majority
  • Late majority shares the same concerns of the
    early majority.
  • People in the late majority are generally not
    comfortable with handling new technologies.
  • Late majority buys after product have been well
    established and standardised.

31
Laggards
  • Laggards simply dont want anything to do with
    new technology.
  • Rejecting technology can be for a variety of
    reasons, some of which are personal and some are
    economic.

32
Revised Model
34
34
13.5
2.5
16
Laggards
Innovators
Late Majority
Early Adopters
Early Majority
33
Cracks in the Bell
  • Gaps in the revised model symbolise the
    dissociation between the adjacent groups.
  • Each gap represents an opportunity for marketing
    to lose momentum and miss the transition to the
    next segment.

34
Thanks for your attention
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