DLMM24
STUDENT NAME:
STUDENT NUMBER:
Page |1
Table of Contents
1. Introduction..............................................................................................................................3
2. Overview..................................................................................................................................3
3. Impact on Organisations...........................................................................................................4
4. Theoretical Framework............................................................................................................4
5. Best Practices and Recommendations......................................................................................4
6. Conclusion................................................................................................................................5
References........................................................................................................................................6
Page |2
1. Introduction
"Welcome to today's podcast on 'Innovation and Technology Transfer,' where we explore how
these two critical elements act as the pillars of modern innovation management. According to
Sukumar et al. (2020), innovation is the key for organisations to cope with market volatility and
to sustain growth. In today's complex and fiercely competitive business environment, innovation
can no longer be an option while one engages in business. However, on the other side of the
coin, innovation is but half the job, considering that the successful implementation of such
innovative ideas calls for effective tech transfer. As noted by Hilkenmeier, Fechtelpeter and
Decius (2021), technology transfer plays a very significant role in ensuring innovative concepts
developed are not only brought to being but are also taken to the market efficiently, enhancing
the competitiveness of the organisation as a whole.".
2. Overview
"In this episode, we are going to explore the issue of 'Improving Competitive Position through
Innovation and Technology Transfer.' The successful ability for innovation distinguishes the
market leaders from the rest. Tang, Zhang and Peng (2021), reveal that innovation drives
differentiation of products, improves operational processes, and opens up new market
opportunities. Companies putting their resources into product innovation can offer new and
improved products in line with customer demand, hence gaining a stronger position in markets.
Process innovation might concern more efficient operations related to reducing costs and
increasing productivity, making the organisation more agile in responding to changes within the
markets. However, it is not easy to innovate. Beladi, Deng and Hu (2021) suggest that high costs,
particularly invested in research and development work, may act as a severe constraint.
Moreover, there is always the risk of failure as innovation projects are not all successful, and the
consequences of this failure could be potentially costly. Overcoming such challenges is crucial if
any organisation is to succeed in leveraging innovation for competitive advantage."
Page |3
3. Impact on Organisations
"Innovation and technology transfer are key to organisational success in environments that
change at a very high rate and are thus highly competitive. According to Isic (2024), high-growth
companies like Google and Amazon have successfully remained ahead of others due to
continuous innovation and the capacity to efficiently transfer new technologies into operations.
Such companies recognise the essence of developing good innovation networks within and
outside the organisation to maintain a competitive edge. Within organisations, cross-functional
teams work jointly to ensure that innovative ideas from employees are effectively developed and
applied. Linkages with universities, research institutions, and other firms help such companies to
keep updated with innovations happening in their sectors. Lysaridis, Chountalas and Magoutas
(2023) reveal that strategic partnerships and well-structured internal processes will help reduce
the barriers to technology transfer, which could be issues related to intellectual property or
resources. By managing innovations effectively, an organisation will attain constant changes in
products, services, and improvements in overall efficiency."
4. Theoretical Framework
“Understanding the dynamics of innovation and technology transfer requires the utilisation of
several key theories and models developed to provide further valuable insights. According to
Acciaro and Sys (2020), an important framework is that of an Innovation strategy, which stresses
that innovation initiatives be aligned to the overall business strategy as necessary for attaining a
competitive advantage. This will ensure concentration on those areas where organisations will
derive maximum strategic benefit from the innovation effort. However, Marion and Fixson
(2021) find out that it is the case that the integration of digital tools in the innovation process
transforms how organisations innovate today by making it more collaborative. Such networks
facilitate idea exchange and resources within organisations and even with outside partners to
ensure that innovative ideas not only get generated but are also executed and scaled up
successfully.”
Page |4
5. Best Practices and Recommendations
“Several best practices can be advised to organisations to enhance innovation capabilities and
technology transfer. Azeem et al. (2021) recommend the creation of an organisational culture
that supports innovation. This can be done by allowing creative ideas to come out from any rank
within an organisation, rewarding ideas for process innovation, not evading risks, and
encouraging a no-fault culture. Thus, leaders set a pace through behaviour modeling 'trial and
error' or experimentation so that from failures, there is something to learn. Target scouting for
external entities will further facilitate technology transfer in the offering of access to knowledge
and technologies not available in the establishments. The proper setting of processes and
accountability to innovation projects ensures their proper management toward strategic goals.”
6. Conclusion
"In summary, innovation and technology transfer are essential to any organisation seeking better
competitive positioning. Dynamic capabilities are relevant in dealing with environmental
uncertainty. It is in understanding and implementing these key elements, such as creating an
organisational culture of innovation and developing powerful innovation networks, that an
organisation can drastically improve its market position. The continuous need for innovation
cannot be overemphasised, for this is what drives growth and sustainability in any industry.
Thank you for joining me today, and I hope you found this discussion very enlightening and
stimulating."
Page |5
References
Acciaro, M. and Sys, C., 2020. Innovation in the maritime sector: aligning strategy with
outcomes. Maritime Policy & Management, 47(8), pp.1045-1063.
Azeem, M., Ahmed, M., Haider, S. and Sajjad, M., 2021. Expanding competitive advantage
through organizational culture, knowledge sharing and organizational innovation. Technology in
Society, 66, p.101635.
Beladi, H., Deng, J. and Hu, M., 2021. Cash flow uncertainty, financial constraints and R&D
investment. International Review of Financial Analysis, 76, p.101785.
Hilkenmeier, F., Fechtelpeter, C. and Decius, J., 2021. How to foster innovation in SMEs:
Evidence of the effectiveness of a project-based technology transfer approach. The Journal of
Technology Transfer, pp.1-29.
Isic, N., 2024. Target Selection and Evaluation Practices in Innovation-Driven Big Tech M&As:
Case Studies from Google and IBM.
Lysaridis, I., Chountalas, P.T. and Magoutas, A.I., 2023. Critical Success Factors in the
Technology Commercialization Process: A Comparative Case Study of International Licensing
Alliances among Small and Medium-Sized Enterprises. Administrative Sciences, 14(1), p.9.
Marion, T.J. and Fixson, S.K., 2021. The transformation of the innovation process: How digital
tools are changing work, collaboration, and organizations in new product development. Journal
of Product Innovation Management, 38(1), pp.192-215.
Sukumar, A., Jafari-Sadeghi, V., Garcia-Perez, A. and Dutta, D.K., 2020. The potential link
between corporate innovations and corporate competitiveness: evidence from IT firms in the
UK. Journal of Knowledge Management, 24(5), pp.965-983.
Tang, T.Y., Zhang, S.K. and Peng, J., 2021. The value of marketing innovation: Market-driven
versus market-driving. Journal of business research, 126, pp.88-98.
Page |6
Page |7
