Strategic Management of Technology and Innovation

Z. Mahmood; Dr. Zafar

Strategic Management of Technology and Innovation

Z. Mahmood * §

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Dr. F. Zafar ‡

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§ University of Derby

‡ Kinnaird College for Women

Strategic Management of Technology and Innovation

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Abstract

This paper discusses the importance and need of incorporating technology and innovation strategy into business strategy to achieve overall competitive advantage for the company. The use of technology and innovation in value creation system is highlighted in a way that it plays a pivotal role in productivity, economic growth, increasing wealth in socioeconomic environment, and evolution of entire industries. Strategy formation and execution in the context of technology is discussed that technology strategy should be aligned to corporate strategy in order to reap out benefits like performance and competitiveness for the company. Furthermore, concepts like technology strategy, forces affecting technology strategy formation and execution, technology management, innovation management, and what benefits companies can get from these are highlighted and discussed in relation to corporate business strategy. As an example, Wal-Mart’s case in becoming a market leader using technology strategy has also been discussed in this paper. All above highlighted aspects are justified with the help of literature findings already did by other researchers and provides guidelines for practitioners or companies to better understand the problem in hand. It will allow them to better incorporate technology and innovation management into their business model. This paper provides the basics of technology and innovation management in practice, and provides a need for further research to better understand the rationale.

References

21 Cites in Article

Reference Format

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Z. Mahmood, Dr. F. Zafar. 2014. "Strategic Management of Technology and Innovation". Global Journal of Management and Business Research - A: Administration & Management GJMBR-A Volume 13 (GJMBR Volume 13 Issue 42 (A12)).

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GJMBR Volume 13 Issue 42 (A12)

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

innovation management technology management

Classification

GJMBR-A Classification JEL Code: N70

O31

Submission ReceivedDecember 11, 2012
Peer Review Double Blind
Handling Editor
Accepted January 3, 2013
Published December 9, 2013

Version of record

v1.2

Issue date

December 9, 2013

Language

English

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Article Matrices

Total Score: 107

Country: Pakistan

Subject: Global Journal of Management and Business Research - A: Administration & Management

Authors: Dr. F. Zafar, Z. Mahmood (PhD/Dr. count: 1)

View Count (all-time): 418

Total Views (Real + Logic): 2282

Total Downloads (simulated): 154

Publish Date: 2013 12, Mon

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