We Developed a Compact and Reinforcing System to help organizations advance their business strength.
One company can have a profitable and long-lasting business as long as it can predict emerging market needs, develop solutions, and finally deliver a value to customers much faster than other competitors. The earlier and faster a company does these works, the better advantage it has.
In order to effectively manage these challenges, there are two functional areas that work as a reinforcing loop (feeding each other) in a company: technology and innovation.
In technology scope, the company should develop new technologies, then technologic products, and finally, production processes.
In a step-by-step approach, there are three formal phases of developing new and competitive solutions for customers with three corresponding professional methodologies that can guide engineers during this journey, as follows:
Technology Development: to make things work (Technology Development Engineering)
Product Development: to meet customer needs (Product Development Engineering)
Process Development: to produce quality products (Process Development Engineering)
In innovation scope, the company should develop business models and strategies to commercialize output of technology projects (technologic products). For this purpose, it should overcome all problems, issues, or challenges to make the idea, solution, or technological product commercially viable. Then, the company should launch the solution to the market. And finally, the company should carry out all tasks to scale up and be sustainable in a competitive market. The major phases and areas of improvements as well as methodologies to assist teams summarized below:
Design Thinking: to make the business ideas or technology solution commercially viable offering (Design Thinking for Innovation).
Innovation Engineering: to launch an innovative solution to the market (Innovation Engineering)
Business Model Generation: to build an innovative company and make it sustainable (NSF I-Corps Bootcamp).
A company should develop technological solutions and transfer them to innovation teams. Innovation teams should use the technological solutions and build a sustainable innovative business. Then, utilizing earning of innovation, it should financially support technological developments, thereby, create a reinforcing loop/system to enhance competitiveness strength.
The reinforcing system and professional programs offered by The School are illustrated in the figure.
