Managing Innovation and Technology Transfer

The ESRC (Economic and Social Science Research Council) of the United Kingdom promoted the different major projects relating to the research of industrial innovation in several universities of the UK in the years 1995 to 2000. There are approximately twenty-six sub-projects under the innovation program. The main goal of these research projects is to reflect the light of the modern technologies that laid the path of the new revolutions. It uses many renovation policies as well as processes in small or large business enterprises whether it is public or private. The various transformation programmes show that invention is not enough to bring change while the new ideas or the interchangeable nature of the current products also keep importance in this regard.

The AIRTO(Association for Innovation, Research, and Technology Organisations) plays a leading role in encouraging the Economic and Social Science Research Council to achieve its aims and objectives. It insists they expand the knowledge of current and effective tools of the modern based technologies. The members of the AIRTO had undertaken several types of research to spread knowledge in the trading sector by using the results of the applications of the innovation programs in the year 2000. The members involved in the AIRTO having the specialization in innovation and technology transfer proved to be very helpful in exploring the nations as well as the innovations. As a result, this became their passion and they enjoyed their close contact with the industries. The different innovative approaches led to a major influence on the consumers while the formal study is somehow limited in such activities.

This present report is based on the theme of managing the innovation and the technology transfer. The report explains the different methodologies and the analytical approach that are taken to manage the innovations and the transferring of the 21st century or the current technology through it. Various practical examples related to different companies are taken to explain this theme. This report has taken several tools as well as techniques for managing the innovations that are created by the ESRC renovation program. These tools and techniques are applied in the TWI limited to the processes involved in the phases of innovation. The same tools are used in different organizations for the expansion of the same purpose and treatedremediesmedy.

Tasks

Analytical approach to understanding the managing innovation & technology transfer

The analytical approach can be simply defined as the process of examining the problem domain and the partitions of such domain to solve them one by one. This has proved to be very helpful in underlining the difficulties by concentrating on each problem. This improves reliability and makes the environment user-friendly. Technology transfer(TT) is the latest as well as a popular topic in the field of research and innovations covering the sector of businesses, private and public firms, various industries, etc. around the whole world from the last few years. It is viewed or recognized as a most useful approach that aids in gaining competition-based dominance against other organizations.

There are different ways of expanding the technological sources to enhance the profit of the corporation and the growth in the various sectors. In the process of development for nations like the United Kingdom or the USA, technology transfer has proved to be one of the best solutions for economic as well as industrial development. On the contrary, the story of the success of TT fully depends on the choice of accurate technology. The examination of the performance of the technology, as well as their policies, is measured by concentrating on their inputs and outputs, as it became a standard for measuring the capital value of the nations. The inputs involved the various data like expenditures on research and innovations while the output is shown as the patents and the copyrights.

On the contrary, this traditional standard of measurement is not found effective in explaining the trends in innovation, the increment value, and the turnover of the company. They only represent the pictures of the technology performance that do not show the various actors who have done the tasks of innovation in a nation. The concepts of the national innovation systems deal with the understanding of the relationship of the actors who made their dedicated efforts in the sector of innovation to enhance technology performance. The masters or the actors perform their best in the process of producing, transferring, and applying a unique level of knowledge. These actors do their research by examining the private as well as the government firms'' activities. They even perform the task of innovation by going through such industries. Therefore the innovative performance of the UK completely depends on the excellent work of innovators. They make an environment of the relevant information creation by using modern as well as ancient technologies.

The technological innovation system is a modern concept that is developed under the scientific areas dealing with the study of innovation. It is used to explain the behavior and the rate of changes in the technological sector. It can be defined as the network of actors who interact with each other in a specific area of the industry under the guidance of relevant institutes dealing with the creation, alteration, and utilization of the technology. The structure of the technological innovation system is discussed below...

Actors

The actors are someone who perform the innovation by making the correct choices and actions regarding generations, diffusions, and the utilization of the technologies.

Institutions

They are the pillars of the innovation system. They play the role of creating the norms or rules in a society or country. It can be formal as well as informal. The formal creates the rules under the order of the government body or the authority. While the informal one is created by the interaction of the different actors.

Technological factors

It consists of several artifacts and the basic structures used to build the innovations. They include the working of the technology which creates the base of the economic value of such artifacts involving the cost and safety.

The critical factor is a term used in the area of different analyses like data analysis, business analysis, etc. These are the essential or relevant activities that are used to evaluate and recognize that what are the reasons for any successful business. The different methodologies dealing with evaluating these critical factors are the following...

AHP(Analytical hierarchy process) methodology

This is one of the good methodologies that was developed by Saaty in the year of 1997. This is increasingly used to create alternative solutions by doing the comparison. The comparison is done by making pairs and the results are drawn based on priorities comparison. These results are very helpful in ranking the various alternatives. These comparisons are created by taking the opinions of the scholars or expert persons that are found to be very relevant for dealing with the current situation. This technique is quite simple, scientific as well as user-friendly i.e. easily understood by the end users. This is made possible by using the appropriate software to draw the priorities-based matrices by calculating the comparison matrices. However, the disadvantage is that each problem domain solutions are dependent on each ther.

Literary review

This methodology solves the vast problem domain by exploring the present as well as the historical information. As the historical data will exclude or express past experiences it proved to be quite aidful in making correct decisions. This gives the experts or innovators an idea to search or make a search in the specific sector. They don't get confused as they are new in this field. The literary review consists of the views of great and successful innovators or inventors.

Research framework and methodology

The research framework deals with the various sectors of the evolution of the critical factors. Here the critical factors of the technology transfer are focused on that are done based on the Analytical hierarchy process.

Data analysis and results

This methodology is used to draw the proper knowledge of the innovations and the technology. This is created by gathering the inputs of the experts or the innovators. The input consists of several calculations such as the different matrices of the expenditures and the priorities comparison done with the aid of AHP. The framework or the infrastructure of the AHP is evaluating the TT critical factors hierarchically. This hierarchical structure includes the three levels...

• The first level shows the objective of the evaluation of the critical factors of the technology transfer.
• In the second level, the five critical factors are identified like issues related to management and strategies, the economic benefits, advantages related to the marketing and forces, the technical characteristics, and the concern related to the regulation.
• In the third level of drawing decisions, the different constructs in every critical factor domain of the TT are ranked according to the process or priorities.

Discussion of finding

This methodology is very helpful in the process of making innovations. The different analytical alternatives help the corporation a lot in the transfer of technology and creating the supply value regarding the inventions and the modern changes on the old one. As a result, the best product is created by the effective tasks involvement. This makes an effective increase in the profitability of the enterprises. The data found is treated as a solution to manufacture the ne

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