The Business Aspects of science and Technology

Topics: Business Architecture for Technology Management, Technology to

Competitive Advantage, Profiting from Innovation, and Technological Learning in
Latecomer Firms

Preview:
In practical terms, the Business Architecture is also often necessary as a means of
demonstrating the business value of subsequent Technical Architecture work to key
stakeholders, and the return on investment to those stakeholders from supporting and
participating in the subsequent work.
Business architects should also determine the scope of the business.
In the context of a business, technology has a wide range of potential effects on
management:
Reduced costs of operations.
New product and new market creation.
Reorganized administrative operations.
Competitive Advantage:
Since technology is such a vital force, the field of technology management has emerged
to address the particular ways in which companies should approach the use of
technology in business strategies and operations. Technology is inherently difficult to
manage because it is constantly changing, often in ways that cannot be predicted.
Technology management is the set of policies and practices that leverage technologies
to build, maintain, and enhance the competitive advantage of the firm on the basis of
proprietary knowledge and know-how.
Profiting Innovation:
The final stage of the innovation process involves making it accessible to most users
through market penetration. The benefits of an innovation, both to inventors and to
society, are maximized only when the innovation is efficiently diffused. Some
innovations are easy to adopt while others involve effort on the part of adopters.
Latecomer Firms:
The success of latecomer firms from the emerging economies challenges
the conventional wisdom on entry timing and resource-based competence. Building
on research on institutions in emerging economies and the resource-based
perspective in strategic management, we propose a model to explain how resource
poor latecomer firms in emerging economies catch up with the multinational
incumbents. We classify latecomers based on their strategic learning intent as either
emulators or blind imitators. The strategic learning intent depends on a firms
complementary assets and its absorptive capacity. Firms that choose emulation
develop flexible routines, while firms that choose blind imitation end up with rigid
routines.

Narrative / Things I learned
The reporters presented the topics with their mind games activities. From their activity,
our group won the first place of it.
From these topics I learned,The nature of business is fast evolving. Many traditional
businesses have evolved from a local place to global proportions. These complex
business evolution need to be tracked so appropriate changes in the business
architecture can also be taken care by the information systems architects. These
business enthusiast must have enough capabilities to plan and run the business with
the new approach the society can offer.

Source/s:
http://www.learn.geekinterview.com/data-warehouse/business-intelligence/business-
architecture.html
Knowledge management and innovation strategy:
The challenge for latecomers in emerging economies
Jiatao Li & Rajiv Krishnan Kozhikode