Assignment Management and Professional Ethics (BNJ 30502) (Date line: 18

December 2016)
1. What is technovation? Explain the process of technovation. (10 marks)
Technovation also known as technical innovation means developing new
ideas, products, services, and processes which exploit technology. It may be
driven by a new technology (How can we use this?) or by needs (What
technology might we apply to improve this?). The process of technovation is
firstly, it tries to manage broad market uncertainties with tools such as
market analyses and business plans and by prioritizing the ideas and plans
that are most likely to be successful. Second, this process attempts to
manage technological uncertainties during the conversion phase, in which
the company can utilize tools such as concurrent engineering, project
management techniques, consultants, universities, and technological centers
to aid development and to mitigate uncertainties. The final stage, which is
defined by launch, diffusion or sales (depending on the author), is not well
developed in the literature.
(http://www.answers.com/Q/What_is_the_meaning_of_technovation?#slide=7)
(http://sistemas-producao.net/lgi/wp-content/uploads/2015/11/Inovation-
process.pdf)
2. Differentiate the term inventions and Innovation. Give simple example of
each term. (20 marks)

Invention can be defined as the creation of a product or introduction of a

process for the first time. Innovation on the other hand, occurs if someone
improves on or makes a significant contribution to an existing product,
process or service. Example of invention when someone created a computer
and innovation is when a company comes up with a creative new product
such as a new tablet computer.
(http://www.yourdictionary.com/innovation#IBBO5fgddSLiBri9.99)
(http://www.yourdictionary.com/invention#ty136CUg8lTJqcRR.99)
(http://mediashift.org/2012/03/the-difference-between-invention-and-
innovation086/)

3. Explain the term world class manufacturing? (10 marks)

World class manufacturing is a collection of concepts, which set standard for

production and manufacturing for another organization to follow. World class
manufacturers tend to implement best practices and also invent new
practices as to stay above the rest in the manufacturing sector. The main
parameters which determine world-class manufacturers are quality, cost
effective, flexibility and innovation. There are three main principles, which
drive world-class manufacturing. Firstly, Implementation of just in time and
lean management leads to reduction in wastage thereby reduction in cost.
Secondly, Implementation of total quality management leads to reduction of
defects and encourages zero tolerance towards defects. Lastly,
Implementation of total preventive maintenance leads to any stoppage of
production through mechanical failure.
(http://www.managementstudyguide.com/world-class-manufacturing.htm)