5. The techniques using reducing uncertainty
In innovation weather it incremental or radical there are some situations organization can’t predict. It always has high risk involvement. When the organization not known the addition information that require for the new innovation product it is uncertainty. There are three types of uncertainty. They are technical uncertainty, market uncertainty and business uncertainty. The following factors help to reduce the uncertainty.
1. technological trajectory This discuss the how level of technology develop in certain time period. This shows the growth of the technology of the new product for a certain period of time. For an example mechanical watch has reach the maximum level of technology at late 1990. There are some limitations by using these concept. They are
• Incremental innovation cannot be considered when the unpredictable changes of user requirements.
• For implementation of the new innovation, firms have to wait until reach the physical limit of the old technology.
• When product reaches his maximum level without an alternative technology it does not create …show more content…
organizations has to conduct the new innovation process in order to the common law of the country such as health and safety act, public relations act, etc. The intellectual property issue is the common problem in patent centric business. Pharmaceuticals and medical industry, ICT industry and high tech industries mostly face problems when they apply for their patent. Not only organizations individuals face the same problem. Many individual innovators looking for help for commercialize their concept. In this process individuals require to provide enough information for the sponsor or facilitating company. Legal risk contains the possibility of future arguments over the ownership of the patent if the conventional IP is very similar to remaining internal
In innovation weather it incremental or radical there are some situations organization can’t predict. It always has high risk involvement. When the organization not known the addition information that require for the new innovation product it is uncertainty. There are three types of uncertainty. They are technical uncertainty, market uncertainty and business uncertainty. The following factors help to reduce the uncertainty.
1. technological trajectory This discuss the how level of technology develop in certain time period. This shows the growth of the technology of the new product for a certain period of time. For an example mechanical watch has reach the maximum level of technology at late 1990. There are some limitations by using these concept. They are
• Incremental innovation cannot be considered when the unpredictable changes of user requirements.
• For implementation of the new innovation, firms have to wait until reach the physical limit of the old technology.
• When product reaches his maximum level without an alternative technology it does not create …show more content…
organizations has to conduct the new innovation process in order to the common law of the country such as health and safety act, public relations act, etc. The intellectual property issue is the common problem in patent centric business. Pharmaceuticals and medical industry, ICT industry and high tech industries mostly face problems when they apply for their patent. Not only organizations individuals face the same problem. Many individual innovators looking for help for commercialize their concept. In this process individuals require to provide enough information for the sponsor or facilitating company. Legal risk contains the possibility of future arguments over the ownership of the patent if the conventional IP is very similar to remaining internal