Technological environment upload
- 2. Flow • Meaning of Technology • Impact of Technology on Business • Source of Technology • Meaning of Technology Transfer • Significance of Technological Transfer • Types of Technological Transfer • Technology Transfer Agreement
- 3. Technology • Technology is the knowledge or process or method that are necessary to carry on or to improve the existing production and distribution of goods and services, products or processes. • Technology refers to the tools and machines people have invented to make life easier. • Technology helps convert ideas into useful products.
- 4. Technological change • Introduction of advanced products • Change in methods of production • Changes in the quality of resources • New ways of distributing the products and new ways of storing and disseminating information • Information Technology Advancement
- 5. Impact of technology on Business • Impact on Operating Cost • Impact on Human Resources • Impact on Productivity • Impact on the way of Communicating • Impact on Customer Outreach
- 6. Impact on Operating Cost • Businesses can use technology in order to reduce the operating cost. These days companies can sell their products or services online. • The cost of startup has dropped dramatically as every individual can launch a venture from home says and the enterprise software allows businesses to automate back-office operations like accounting, record keeping and payroll.
- 7. Impact on Human Resources • Today’s students are stimulated to get ready for technology-based works like data analysis, computer programming etc. • Technology has also changed employing process, with the internet permitting employees to do their job from home or another remote location.
- 8. Impact on Productivity • Implementing different technologies increases the employee’s productivity. Computer programs and business software let workforces to process more information than the manual method. • Moreover, the business persons can also implement technology to lessen the amount of human employment in corporate functions.
- 9. Impact on Customer Outreach • Because of social media and internet, it has become easier to reach a huge amount of customers. • Small business owners can use social media platform and do-it-yourself website tool in order to increase the customer outreach.
- 10. Impact on the way of Communicating Business technology helps businesses advance their communication processes. Emails, texting, websites and apps, for example, facilitate improved communication with patrons.
- 11. Successful Companies • Infosys • Tata Consultancy Services • Paytm • Oyo Rooms • Zomato
- 12. Technology Life Cycle • The technology life-cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". • Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other cases, such as electronic or pharmaceutical products, the lifespan may be quite short.
- 13. TLC can be described as having four distinct stages. • R & D Stage • Ascent or Growth Stage • Maturity Stage • Decline Stage
- 15. Research and Development • During this stage, risks are taken to invest in technological innovations. • No Profit are made during this phase. • This is a risky stage since the final product may not be worthy of implementation and all the expenses so far incurred will waste. • This can be one of the reason many companies are averse to money invest in R&D.
- 16. Ascent or Growth Stage • At this point the objective of company is to see to the rapid growth and distribution of the invention. • In this stage newly developed technology starts yielding results. • Out of Pocket expenses are recovered in this stage. • In this stage companies take benefit of having the newest and most effective product. • Profit are increasing in that stage.
- 17. Maturity Stage • In this stage new technology becomes accepted by the general population. • In this stage new competitor enters in market. • Supply begin outstrip Demand. • Return are going stagnant.
- 18. Decline Stage • The existing technology can no more employed gainfully. • Its competitive utility has come to an end. • It needs to be replaced by next generation technology.
- 19. • Even the most successful technological innovations like the iPhone, Google and Facebook did not become popular overnight. It takes time. • After introducing the Technology how person respond to technology that is important. There are lot researches made on it. • One of the famous research by Everett Rogers in 1962. He explore the five stages of the technology adoption life cycle to understand how society reacts to innovations or technology.
- 20. • The technology adoption life cycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. • The Technology Adoption Life Cycle divides potential new technology adopters into five adopter categories or segments. In Technological Adoption Life Cycle on X axis there is time and on Y axis is number of Adopter.
- 21. There are five Segments Of Technology Adoption which are as follows: • Innovators • Early Adopters • Early Majority • Late Majority • Laggards
- 23. Innovators • These are the first people to adopt a new product or service. • By nature they are risk takers and are excited by the possibilities of new ideas and new ways of doing things. • Products tend to be more expensive at their point of release but innovators purchase because they have a higher social class and higher income that they are willing to spend on new technology. • The innovators segment is usually only 2.5% of society
- 24. Early Adopters • After Innovator early adopter purchase the product. • They purchase the product on the basis of review and feedback of innovator. • They are generally young people with higher income and higher education. • The early adopters segment is usually 13.5% of the society. • They may be very active in social media. • They take reasonable approach towards risk.
- 25. How to Cross the Chasm • Successfully firm crossing the chasm can be achieved by targeting a very specific niche market. • Segmenting is everything here: focus all your marketing resources on one specific segment at the time and make sure you become market leader in that specific segment before moving on the next one. This is a so called ‘Big Fish, Small Pond’ approach. • In addition, you should make sure that your product offers a complete solution and that service levels are high (i.e. Whole Product Solution). Once you have established a strong word-of-mouth reputation within different segments of the Early Majority, you have crossed the chasm properly.
- 26. Early Majority • As a product begins to have mass market appeal, the next class of adopter to arrive is the early majority. • This class of adopter is reasonably risk averse. • They are average income class people. • They use opinion of others while adopting innovations. • The early majority segment is usually 34% (one third) of society.
- 27. Late Majority • They tend to put their resources towards tried and tested solutions only and are risk-averse. • They’re not going to buy until lots of others have the product, and what they’re using instead has become inconvenient. • This category of adopter lesser interaction with society. • Generally they are older people. (34%)
- 28. Laggards • The Laggards are the final group of technology adopters. • These are people that never purposefully adopt new technology. • They are not really potential customers; goal is not to sell to them. • They are generally oldest .(16%)
- 29. Source of Technology There are two source of technology: • Either it may be developed • It may be purchased at certain price
- 30. Research and Development Budget India's spending on R&D in terms of percentage of GDP has been stagnant at 0.6 to 0.7 per cent in the last two decades -- much lower than the U.K, China, South Korea, Israel , Singapore, Belgium, Finland and Japan.
- 31. Technological development in India • India has a strong network of science and technology institutions and trained manpower. It has the third- largest scientific and technical manpower in the world with 162 universities awarding over 4,000 doctorates degrees and 35,000 post graduate degrees annually. • India’s gross expenditure on R&D increased from Rs 65,961.33 crore (US$ 14.07 billion) in 2011-12 to Rs 104,864.03 crore (US$ 16.27 billion) in 2016-17. • India’s medical technology (MedTech) sector is forecasted to reach US$ 9.6 billion in 2022 and US$ 7.8 billion in 2020 from US$ 5.7 billion in 2017.
- 32. Technological development in India • The Government of India is extensively promoting research parks & technology business incubators (TBIs) and (RPs) which would promote the innovative ideas till they become commercial ventures. • In July 2018, Under Atal Innovation Mission scheme launched “Innovate India Platform” with the aim of providing a common point for all the innovation happening across India.
- 33. India improved its rank on the Global Innovation Index for the second year consecutively. From being ranked at the 81st position in 2015, India improved its ranking to 66th in 2016 and further to 60th in 2017. In the year 2019 India got 52 position.
- 34. Government Initiatives • In February 2018, the Union Cabinet has approved implementation of Prime Minister Research Fellows (PMRF) scheme, which will promote the mission of development through innovation, at a total cost of Rs 1,650 crore (US$ 245.94 million) for a period of seven years beginning 2018-19. • In February 2018, Union Government of India announced grant of Rs 1,000 crore (US$ 155.55 million) for the second phase of Impacting Research Innovation and Technology (IMPRINT), a fund created by Department of Science and Technology and Ministry of Human Resource and Development.
- 35. Government Initiatives • The Government of India granted Atal Innovation Mission with US$ 24.84 million will boost the academicians, entrepreneurs and researchers to work towards innovation.
- 36. Government Initiatives The following fellowships schemes given by government: • CSIR Junior Research Fellowship (JRF) and National Eligibility Test (NET) • Senior Research Fellowship (SRF)-Direct • Shyama Prasad Mukherjee Fellowship (SPMF) • CSIR JRF-GATE (for Engineering & Pharmaceutical Sciences) • CSIR Research Associateships (RA) to pursue post doctoral research • CSIR Senior Research Associateships (SRA) • CSIR Nehru Science Postdoctoral Research Fellowship Scheme
- 38. What is Technology Transfer ? • Technology Transfer is the process by which technology is disseminated. It involves communication of relevant knowledge by the Transferor to the Recipient. • Without Transfer of Technology there is not any growth and development in economy. • Technology transfer is basis for development of technology.
- 39. Benefit of Technology Transfer • It leads to competitive advantage for a company from its competitors. • It helps in research and development of a product. Transfer of technology helps organizations to modify it according to needs. • Transfer of technology makes technology new and new innovations lead to the creation of a new market and demand. • It helps in the commercialization of technology.
- 40. Obstacles in technological transfer • Cost • Appropriateness • Dependence • Outdated technology
- 41. Classification of Technology Transfer • International Technological Transfer • Regional Technological Transfer (within country) • Cross Sector Technology Transfer( Industry to Industry) • Inter Firm Technology Transfer (Firm to Firm) • Intra Firm Technology Transfer ( within firm)
- 42. Technology Transfer Agreement • Training or Employment of Technical Expert • Contract for supply of machinery and equipment. • Licensing agreement • Turnkey contracts • Joint Venture Agreement
- 43. Steps in Technology Acquisition by a firm 1.Identification of Need 2. Developing list of suitable technology providers 3. Short listing / selecting suitable technology providers on the basis of compatibility of core competences, appropriateness of technology, technical feasibility etc. 4. Negotiation 5. Agreement 6. Payments as per agreement 7.Transfer of specifications, blueprints, designs, and documents. 8. Training of technical personnel of purchaser.
- 44. Modes of Payment for Technology Transfer • Lumpsum payment or periodical instalments • Royalities as a %age of sales over next few years • Contracted supply of output • Issue of equity shares in lieu of technology transferred
- 45. Successful Companies • Infosys • Tata Consultancy Services • Paytm • Oyo Rooms • Zomato