Read the summary and the most important questions on Introduction to Business

• Technology & Innovation, bridging science, business and society

  This is a preview. There are 8 more flashcards available for chapter 04/09/2018
  Show more cards here

• What happens in the niche level (micro level)?

  • New ideas for innovations are developed by researchers and technologists
  • Concept is invented: object gets a purpose
    

• What is the definition of a product concept?

  The understanding of the product in order to showcase the best qualities of the product, including
  
  

  • What problem can be solved, for what user, in what situation, compared to existing products
  • Costs and benefits company
  • Implications for marketing, after sale etc.
  • Scientific-technological characteristics
  • Data on functionality, safety, side effects, sustainability
    

• What is the goal of the R&D department in a company?

  Undertakes activities to develop new or improved products (innovation)

• What does the technology readiness levels (TRL) estimate?

  The maturity of a technology in development

• What is an example in how technology is a societal power in communication?

  Phone and internet determine our communication

• When is an innovation in a lock-in situation?

  Technologies are connected to
  

  • Rules
  • Societal parties
  • Intrastructures (railway, cars, electricity, gas)

  and lose flexibility -> changes are difficult

• Technology doesn't always push and change, give 4 reasons

  Conservatism
  

  1. Technology itself is conservative (lock in)
  2. Scientists/technologists are skeptical
  3. Companies are skeptical
  4. Government is skeptical

• What kind of resistance towards innovations comes from companies?

  • Incompability: structure/culture of company is not aligned
  • Lack of experience
  • Expensive (R&D)
    

• What are easier ways for companies to innovate?

  • Imitation
  • Buying start-ups
  • Joint-ventures (senseo)
    

• Give the 6 steps of the market pull system

  1. Societal demand
  2. Market research
  3. Technological research (/ fundamental research)
  4. Product development
  5. Market introduction
  6. Societal use