The magic weapon of success in innovation is to "do the right project, do the right project". Therefore, choosing the field and direction of technological innovation is an important part of innovation strategy. In order to select the right field of technological innovation for enterprises, it is necessary to take the technological innovation goal of enterprises as the guide, match the market attraction with the business ability of enterprises as the principle, and adopt appropriate management tools.
It is very important to clarify the goal of technological innovation. The purpose of technological innovation is to provide customers with high quality new products and services through the application of new technologies, to obtain high investment returns, and to create long-term competitive advantages for enterprises. The goal of technological innovation is to specify the purpose of technological innovation. For example, the goal of technological innovation of an enterprise is to use special chemical technology to make the sales of new products account for 45% of the total revenue of the enterprise and become the market leader in the industry.
The first step is to comprehensively examine the business capabilities of enterprises in various fields and the attractiveness of specific markets. Because the balance and matching of the two determine the probability of achieving the goal of technological innovation, it can be used to determine the choice of the field of technological innovation. The specific steps are as follows:
SWOT analysis tools are used to analyze the strengths, weaknesses, opportunities and risks of enterprises to determine the core technology and business capabilities of enterprises. The parameters of evaluating business capability include the ability to utilize development skills, the degree of matching production capacity, the ability of sales team, the ability of channel distribution, the relationship with users, market communication, brand/image ability, the degree of differentiation of new products, and the ability of new products to solve customer problems.
The second step is to use Porter 5 force analysis tools to conduct in-depth research on competitors in business-related fields, such as new entrants, suppliers, customers and substitutes, and to analyze market demand and competitive situation in order to determine market attractiveness. The technology roadmap tool is used to analyze the development trend and technology maturity of the technology. The parameters to measure market attractiveness include market size, market growth rate, market competition intensity, competitors'ability, the speed of technological change in the industry, and the maturity of technological development.
The third step is to evaluate the matching between market attraction and business capability by using the analysis tool of business capability/market attraction matrix. Firstly, the business capability parameters and market attractiveness parameters of each potential related field are scored (1 score = extremely low business capability or market unattractive; 10 score = extremely strong business capability or market attractive); then the weighted average total score of market attractiveness and business capability is calculated; finally, the total score of business capability is divided into abscissa coordinates. The market attractiveness is divided into ordinates and matrix graphs.
The matrix diagram is divided into four areas: the areas in the "risk zone" have high investment risks. Although the market attraction in this area is high, the enterprises themselves are not familiar with this area, and the business ability is not enough to make profits in this area. There are good investment opportunities in the field of "Good Opportunity Zone". In this area, the market attraction matches the business ability of enterprises, and the success rate of technological innovation is high. The "conservative zone" has a high success rate but low returns. The area within the "avoidance zone" is the investment area that should be avoided, because its market attractiveness is low, which is contrary to the goal of technological innovation. It is worth mentioning that some areas within the "risk zone" can also enter the "good opportunity zone" after enterprises have invested to enhance their business capabilities. Some areas within the "conservative zone" can also enter the "good opportunity zone" after the market cultivation period.
According to the position of each field in the matrix diagram, enterprises choose which fields to be the fields and directions of technological innovation according to the innovation goals.
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