Finding Applications for Technologies Beyond the Core Business

Finding Applications for Technologies Beyond the Core Business Description

Typically, authors Erwin Danneels and Federico Frattini observe, companies are more comfortable developing new products for the customers they already serve than they are with applying their technologies in new markets (a process they call "technology leveraging"). Only a small number of companies make a deliberate effort to tap the potential for business outside their core markets.Using examples from companies the authors have studied or advised, the article describes a four-step process for leveraging technology that involves: (1) characterizing the technology, (2) identifying potential applications, (3) choosing from among the identified applications, and (4) selecting the best entry mode. The first step involves "de-linking"the technology from the specific products in which it is currently used. To do this, the authors explain, companies need to identify the functions the technology can perform. A good characterization can broaden the scope of the potential opportunities and allow people to focus clearly on the technology's abilities and limits. In many settings, this step requires extensive testing and R&D investment. As they explain, "You can't look for new applications until you know what your technology can do vis-a-vis what competing solutions do." Once companies have specified what the technology is, they can begin exploring new settings where it might be applied. Although the authors recommend starting with desk research, the biggest benefits often come from getting out of the office and interacting with people. Trade shows, they say, provide an excellent way to see firsthand where the technology and its alternatives might be applied, and to hear about the pain points of the existing technologies. Another approach is to tap into communities of problem-solvers who might be able to provide suggestions. Although identifying opportunities with the most promise may appear to be straightforward, in practice, the authors note, it can be more involved. Companies often underestimate the challenges of applying the technology, which may be revealed only by building early prototypes. In bringing technology to new markets, the goal should be to find new application areas where your technology performs better on existing performance dimensions, introduces a new performance dimension, or delivers the desired outcome at a lower cost. The fourth and final step in leveraging technology involves determining the best way to develop and commercialize the products that use the technology. In bringing technology to market, companies need to decide whether to develop products themselves or work with a third party. This decision can have significant implications in terms of capital requirements, time to market, level of control, and required commitment. However, there are no universal guidelines that apply in every situation.

Case Description Finding Applications for Technologies Beyond the Core Business

Strategic Managment Tools Used in Case Study Analysis of Finding Applications for Technologies Beyond the Core Business

STEP 1. Problem Identification in Finding Applications for Technologies Beyond the Core Business case study

STEP 2. External Environment Analysis - PESTEL / PEST / STEP Analysis of Finding Applications for Technologies Beyond the Core Business case study

STEP 3. Industry Specific / Porter Five Forces Analysis of Finding Applications for Technologies Beyond the Core Business case study

STEP 4. Evaluating Alternatives / SWOT Analysis of Finding Applications for Technologies Beyond the Core Business case study

STEP 5. Porter Value Chain Analysis / VRIO / VRIN Analysis Finding Applications for Technologies Beyond the Core Business case study

STEP 6. Recommendations Finding Applications for Technologies Beyond the Core Business case study

STEP 7. Basis of Recommendations for Finding Applications for Technologies Beyond the Core Business case study

Case Analysis of Finding Applications for Technologies Beyond the Core Business

Finding Applications for Technologies Beyond the Core Business is a Harvard Business (HBR) Case Study on Technology & Operations , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Finding Applications for Technologies Beyond the Core Business is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Finding Applications for Technologies Beyond the Core Business case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Finding Applications for Technologies Beyond the Core Business will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.

Case Study Solutions Background Work

Finding Applications for Technologies Beyond the Core Business case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Technology & Operations, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Finding Applications for Technologies Beyond the Core Business, is to not only build a competitive position of the organization but also to sustain it over a period of time.

Strategic Management Tools Used in Case Study Solution

The Finding Applications for Technologies Beyond the Core Business case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

Texas Business School Approach to Technology & Operations Solutions

In the Texas Business School, Finding Applications for Technologies Beyond the Core Business case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Finding Applications for Technologies Beyond the Core Business

Step 1 – Problem Identification of Finding Applications for Technologies Beyond the Core Business - Harvard Business School Case Study

The first step to solve HBR Finding Applications for Technologies Beyond the Core Business case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Technology Authors is facing right now. Even though the problem statement is essentially – “Technology & Operations” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Technology Authors, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.

Step 2 – External Environment Analysis

Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Finding Applications for Technologies Beyond the Core Business.

The external environment analysis of Finding Applications for Technologies Beyond the Core Business will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.

What is PESTEL Analysis? Briefly Explained

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Finding Applications for Technologies Beyond the Core Business case study. PESTEL analysis of " Finding Applications for Technologies Beyond the Core Business" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?

As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Finding Applications for Technologies Beyond the Core Business macro-environment and how it impacts the businesses of the firm.

How to do PESTEL Analysis for Finding Applications for Technologies Beyond the Core Business

To do comprehensive PESTEL analysis of case study – Finding Applications for Technologies Beyond the Core Business , we have researched numerous components under the six factors of PESTEL analysis.

Political Factors that Impact Finding Applications for Technologies Beyond the Core Business

Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.

Policy Making Impact on Finding Applications for Technologies Beyond the Core Business

Government policies have significant impact on the business environment of any country. The firm in “ Finding Applications for Technologies Beyond the Core Business ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.

Data safety laws – The countries in which Technology Authors is operating, firms are required to store customer data within the premises of the country. Technology Authors needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.

Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Finding Applications for Technologies Beyond the Core Business has numerous instances where the competition regulations aspects can be scrutinized.

Import restrictions on products – Before entering the new market, Technology Authors in case study Finding Applications for Technologies Beyond the Core Business" should look into the import restrictions that may be present in the prospective market.

Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Technology Authors in case study “ Finding Applications for Technologies Beyond the Core Business ” should look into these export restrictions policies.

Foreign Direct Investment Policies – Government policies favors local companies over international policies, Technology Authors in case study “ Finding Applications for Technologies Beyond the Core Business ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.

Taxation & Regulation Impact on Finding Applications for Technologies Beyond the Core Business

Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.

Tariffs – Chekout how much tariffs the firm needs to pay in the “ Finding Applications for Technologies Beyond the Core Business ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Technology Authors can compete against other competitors.

Government Scheme & Subsidies Impact on Finding Applications for Technologies Beyond the Core Business

Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Finding Applications for Technologies Beyond the Core Business case study have to assess whether their business can benefit from such government assistance and subsidies.

Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.

Political System & Stability, and its Impact on Finding Applications for Technologies Beyond the Core Business

Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.

Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.

Corruption level – Technology Authors needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.

Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.

Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.

Economic Factors that Impact Finding Applications for Technologies Beyond the Core Business

Social Factors that Impact Finding Applications for Technologies Beyond the Core Business

Technological Factors that Impact Finding Applications for Technologies Beyond the Core Business

Environmental Factors that Impact Finding Applications for Technologies Beyond the Core Business

Legal Factors that Impact Finding Applications for Technologies Beyond the Core Business

Step 3 – Industry Specific Analysis

What is Porter Five Forces Analysis

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Finding Applications for Technologies Beyond the Core Business case study. PESTEL analysis of " Finding Applications for Technologies Beyond the Core Business" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

Step 4 – SWOT Analysis / Internal Environment Analysis

Step 5 – Porter Value Chain / VRIO / VRIN Analysis

Step 6 – Evaluating Alternatives & Recommendations

Step 7 – Basis for Recommendations

References :: Finding Applications for Technologies Beyond the Core Business case study solution