1. Group #6 Zabala-Iturriagagoitia (2014) Innovation management tools: Implementing technology watch as a routine for adaptation BENEFITS OF UTILIZING TECHNOLOGY WATCH TOOLS Target Audience: Managers of medium-high Tech SMEs Jamal Armel Alexey Malkov Oriol Sementé Katariina Silander

2. Make a presentation in which you try to convince your audience to start to utilize Technology Watch (TW) tools. Emphasize the benefits but do not forget the limitations. Assume that your audience consists of managers of small-and-medium- sized enterprises (SMEs) in medium-to-high tech industries who are skeptical because of lack of time and other resources. Assignment Question:

3. ●What is a technology watch tool ●The strengths and possibilities of Technology Watch ■Help as input in planning and corporate strategy ■Benchmarking particular competitors or potential research centres to collaborate with ■Promotion of internal learning ■Lead to radical and incremental innovations ●Incorporating sensors in machines ●Implementation of multiple simulations turning heads ●Things to take into account for effective implementation ○Needed commitment for TW. ○Alignment of strategies from corporate and innovation strategies ○Absorption - not rigidness towards implementation and use ○Is a long-term ●Summarization of example in article ●Pros of TW use for the company Outline

4. What is a Technology Watch tool? ObservationAnalysisUse

6. TW helps Organizations to gain Competitive Advantages ●Gives valuable input to planning and corporate strategy ●Enables the benchmarking of particular competitors or potential research centres to collaborate with ●Promotes internal learning ●May lead to radical and incremental innovations

7. TW gives valuable input to Planning and Corporate Strategy ●Helps organizations find information of ○competitors ○Technological and other innovations ●New knowledge can be used to enhance strategy making process ●Is a way of enhancing strategy making in a structured way ●Helps build advantage over competitors

8. TW enables benchmarking of particular competitors or of potential research centres to collaborate with ●Through benchmarking organizations gain knowledge of where they stand in comparison with competitors ○In what are we good at compared to others? ○In what are we behind our competitors? ●Important to acknowledge that benchmarking has its limitations ○Improvement may and should go further than today´s best

9. TW is a strong tool for promoting Internal Learning ●Employees have access to new ○ideas ○concepts ○technologies ●New knowledge triggers problem solving ●New approaches ●Build advantage over competitors

10. TW might lead to Radical and Incremental Innovations Implementation of TW have lead to BOTH: -Radical Innovations -Incremental Innovations Success TW Implementation in a Machine Tools Manufacturer Incremental: Implementation of Multiple simultaneous turning heads Radical: Embedded systems for axes with magnetic levitation

11. TW Limitations and Considerations to effectively implement TW in your Company TW is a Long- Term Strategy and suppose a Radical Change There is a need for Top Management Commitment. There is a need for Employees’ Absorptive Capacity. Information is broadly dispersed and complex Use both Formal and Informal sources to collect information. This last requires prior verification. Outsource if needed. Limited amount of Resources Optimize your Resources: Follow Key Technologies that are aligned with your Strategy and limit the TW scope to them. Difficulty of Creating Incentive to Participate Animator: Create a collective orientation towards information sharing, gaining the commitment and implication of observers and analysts Allocate time for key players to spend in in-depth study of Tech

13. TW Success Stories DanobatGroup is dedicated to the manufacturing of lathes, grinding machines and drilling units. It is the largest manufacturer of production machines and tools in Spain. ORONA made up of more than 30 companies, is centred on the design, manufacturing, installation, maintenance and modernisation of mobility solutions, such as elevators, mechanical staircases, ramps and passageways. Corporación Patricio Echevarria develops two different activities aimed at providing hand tools, and solutions and components for farming machinery (Agrisolutions) to clients and users from the Construction, Farming and Gardening sectors. “ The capture and filtering of information has improved both in quantity and quality and its distribution is more simple and easier. This tool is promoting and making the Technology Watch process in our organization more efficient. ”

14. What the implementation of TW will do for your company... ●TW will give valuable input to Planning and Corporate Strategy ●TW will enable the Benchmarking of particular Competitors or potential Research Centres to collaborate with ●TW will promote Internal Learning ●TW may lead to radical and incremental innovations … to Gain Competitive Advantages

15. Thanks for your attention!