Developing Strategic Management Model For Technological Innovation In Manufacturing Companies

Critical review of current literature

In this modern world of technological applications, it is seen that the manufacturing companies whether small or medium have started to make use of technologies for administrative management. It has been found in the recent studies that companies face many difficulties related to innovation, production and even generation of knowledge while adopting the process to integrate information and communication technologies (Souto 2015). The major factors that contribute to economic growth of companies are considered as innovation, technological improvement as well as technology transfer. Hence, it has been determined that a strategic solution is required for improving capabilities of the manufacturing companies so that they can quickly respond to challenges. This study aims at developing strategic management model for technological innovation in manufacturing companies.

According to Rothaermel (2015), it is essential to develop a strategic solution so that improvements can be made in capabilities of the companies so that technological innovation can be implemented successfully. A model for strategic management is required so that companies could easily respond to the challenges being faced while integrating information and communication technologies. Innovation is defined by Saebi and Foss (2015), as the development of new products, processes, knowledge as well as services with the help of existing or even new innovative knowledge. Saebi and Foss (2015), has also mentioned that companies are evolving as value chains depending on intangible assets.

Cusumano et al. (2015) has defined innovation as the utilization of new technical and market knowledge along with business models for delivering a new product or even service. Whereas, Dodgson (2018) has stated that Innovation economy is related to producing and generating knowledge and their applications for products, processes as well as services. Hence, the implementation of technological innovation is widely used by companies as the main asset for retaining their competitive advantage. The past studies have provided various models to manage the process of integrating information and communication technologies where a major gap lies with the identification of suitable strategic management model for manufacturing companies.

The focus of this study is on determining the problems that are being faced by manufacturing companies while adopting the process to integrate information and communication technologies. This research will be conducted to mitigate the problems related to practical application of technological innovation for products, processes as well as services in manufacturing companies.

This study is aimed at developing a strategic management model for technological innovation which will serve as the basis for developing a computational tool. The tool will help to integrate the different phases within the model for strategic management (Hill, Jones and Schilling 2014). This study will help to demonstrate on how the model can be applied for increasing the competitiveness, productivity as well as innovation in manufacturing companies.

• What problems are being faced by manufacturing companies while implementing technological innovation?
• How problems faced by the manufacturing companies can resolved with the help of strategic management model?
• What are the important factors that contributes to innovation for growth of companies?

The research will be conducted by the help of primary data collection and the sample size for this study is 100 out of which 50 will be employee and 50 will be managers from different manufacturing companies. The sampling strategy that will be followed is random sampling in which data will be collected with the help of survey questionnaires.

Research problem

The research methodology that will be followed for this study is Quantitative approach so that statistical analysis can be done to gather outcomes from the research. This approach uses empirical investigation so that desired results can be achieved by preparing survey questionnaires (Lewis 2015). The feedback from participants on the survey questionnaires will form the basis of results so that the research topic can be concluded and desired outcomes can be gained from the research. The data will be collected by taking 100 participants so that validity of the data can be ensured. The results gathered from the study will be used for carrying out the discussion for demonstrating outcomes of the research (Taylor, Bogdan and DeVault 2015). This study will help to solve the problem being faced while implementing technological innovation in manufacturing companies.

The ethical considerations that will be considered for this particular research study are listed as below:

Involvement of participants: The participants will take part in the survey process as per their own will and no internal or external influence is exerted on them. The feedback process arranged by the researchers must follow all the necessary ethical considerations

Anonymity of participants: No such mental and physical harassment will be involved while conducting the research work. The involvement of the third parties must be avoided and all other ethical factors are to be considered by the researchers.

The total time estimated for conducting this particular research topic is limited. Basically cross sectional nature of the study the researcher will face time limitation. If the responses gathered from the responses are not valid then the research outcome will fail to meet the research criteria.

Stages	Relation to each year of doctoral programme
Selection of research topic	Preparing the research proposal
Review of current literature	Determining the research gaps
Determining the research problem and research questions	Finding the purpose behind the project
Designing the research methodology	Proposing the methodology to conduct the research
Collection of data from primary sources	Acquisition of data from analysis
Analysis of results	Determining results of the study
Discussion with findings from the gathered data	Demonstrating findings from the study
Concluding the study and providing recommendations	Conclusion of the research topic
Submission of the final project report	Completion of the final project

Conclusions:

In conclusion it can be said that, model for the strategic management is necessary for technological innovation which will serve as the basis for developing a computational tool. Successful conduction of the research topic will help to demonstrate on how the model can be applied for increasing the competitiveness, productivity as well as innovation in manufacturing companies. In addition to this, the research will be conducted to mitigate the problems those are related to practical application of technological innovation for products, processes as well as services in manufacturing companies. Apart from this, this tool will also help to integrate different phases within the model for strategic management.

References:

Cusumano, M.A., Kahl, S.J. and Suarez, F.F., 2015. Services, industry evolution, and the competitive strategies of product firms. Strategic management journal, 36(4), pp.559-575.

Dodgson, M., 2018. Technological collaboration in industry: strategy, policy and internationalization in innovation (Vol. 11). Routledge.

Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an integrated approach. Cengage Learning.

Lewis, S., 2015. Qualitative inquiry and research design: Choosing among five approaches. Health promotion practice, 16(4), pp.473-475.

Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.

Saebi, T. and Foss, N.J., 2015. Business models for open innovation: Matching heterogeneous open innovation strategies with business model dimensions. European Management Journal, 33(3), pp.201-213.

Souto, J.E., 2015. Business model innovation and business concept innovation as the context of incremental innovation and radical innovation. Tourism Management, 51, pp.142-155.

Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.