Test Bank for The Management of Technology and Innovation A Strategic Approach, 2nd Edition

Innovation generally refers to the process of introducing more effective and efficient process, products and ideas. It is the process whereby new and improved goods and services are originated and transferred to the market.

Management of Technology and Innovation refers to a company’s efforts to bring the use of technology and achieving innovation, this perspective of using technology for the purpose of achieving innovation is termed as Technology strategy.

The company taken for study is C Inc, an engineering giant which belongs to Europe with operations across the World. The company produces mechanical and earth moving equipment and automobiles which are supplied in various manners across the globe. The stake holders in the company are share holders, customers, suppliers, employees and Government agencies.

The organization offers different services to all these people and the services are described as given below:

1. Share-holder services: The Company offers the share holders unique services such as sending them share holder alerts to their mobile phone, offers them stock exchange plans, send them about new stock options available and keep them posted online all the time.

2. Customers: The company keeps the customers posted about the company and updates information regarding new service offers, warranties, opening of new service locations and invites customers to launching of new locations near to their place.

3. Suppliers: The company maintains a list of most loyal suppliers and offers them the privilege of increasing or decreasing supplies based on their convenience.

4. Government regulations: The company maintains relations with all the government agencies and it aligns its operations with government agencies.

These are the various services it offers to stake holders.