Technological Innovation

||Technological Innovation
2018-09-14T16:38:08+00:0014/09/2018|Tags: , , , |

By: Leonardo de Oliveira da Silva – DBA I

To do new things, to develop something out of the ordinary, to change customs and practices, means to innovate. And when we decide to face situations from a different perspective, specifically in terms of the globalized world, to address a certain problem, we are talking about technological innovation.

There are many technological innovations that have happened in the past few years. Have you noticed them? Today, we can hail a cab without waiving our arm, book a hotel room from the other side of the world without even making a phone call, calculate an average trip time based on local traffic, make all kinds of purchases without going to an actual store, and – who knew – deposit a check into a bank account using a mobile app. New technologies are present in all sorts of industries, and each of them have their own dynamics and ways of working. The break from old ways, in favor of new work and consumption platforms are abrupt changes, which aren’t always noticeable.

When a company wants to create value for its clients, making them see that a given product or service can add more value than the one the competitor offers, even if it’s similar, that’s innovation. Technological innovation is directly linked to the market, leading to the development of new products and technologies, and exploring the change as an opportunity that meets the needs of consumers and companies. In light of this scenario, it’s essential for managers to remain alert to changes, and to enable a culture of innovation among employees, encouraging the creation and implementation of the new, since innovation has become a key tool for business opportunities or services in all settings in this globalized world.

The free market, together with globalization, which in a certain sense has made competition something unavoidable for the performance of any enterprise or strategic solution, will be guided by technological innovation, wherein new business models, services and processes become an essential factor in companies’ daily competitiveness.

The synthesis of ideas underpins the generation of wealth, enabling companies to stay ahead of the competition, since, when the belief is that everything can be innovated and improved, advantages will arise, thus elevating business capacity in this environment of continual change, new technologies and globalization.