'A Paper on the Market Pull and Technology Push Factors\r'

'UNIVERSITY OF TECHNOLOGY might of melodic phrase & axerophthol; Management: School of Business Administration Management of Innovation Technology cutting #2 â€Å"Innovation at 3M” Name: Ronald McLeod (0908851) carriage: Mr. S. Whittle 3M Corporation takes pride in cosmos a culture of innovation. I depart be reporting on just unmatchable of 3M’s many innovative ingatherings the post-it notes. I will as well as highlight the foodstuff elicit and applied science weightlift federal agents that were considered in developing the innovation. The key terms to be identified in this report are innovation, engineering science push, and market pull.Innovation refers both to the output and the figure out of arriving at a goodly feasible theme to a problem triggered by a technological luck or customer need. Technology push describes a situation where an emerging technology or a new combination of existing technologies provide the control force for an innovative p roduct and problem solution in the market place. Market pull is the increase of technology oriented primarily toward a particular(prenominal) market need. Post-it notes are pieces of stationery with a re-usable sticking strip on the back, designed for temporarily attaching notes to documents and early(a) surfaces.The release of post-it notes in 1980 in the United States was one that was not only innovative for its m just instantaneously one which captured the needs of consumers in a only new way. Post-it note became a big advantage for 3M and was adored by customers. The first and probably around important technology push that resulted in post-it notes is sr. scientist Spencer Silver’s 1968 discovery of an adhesive that didn’t act like any others. Instead of forming a film, it is a clear, reusable and pressure-sensitive adhesive. For five years, Silver promoted his creation within 3M, both informally and through and through seminars, however without much triumph.In 1974 Art fry perceived the intellection of coating the adhesive on paper. He presently realized that this technology would serve well as a note pad. 3M conducted a direct-mail program to the secretaries of CEOs of fate 100 companies, and got back letters from CEO’s of companies such as Chrysler and Phillip Morris telling them how much they love this product (Post-it notes) and asking how they could get more. This was a major(ip) market pull factor as 3M now realized that this advancement in technology would foregather a specific market need. Fry encountered earnest technical problems very early.First, there was the problem of acquire the adhesive to stay in place on the note instead of transferring to other surfaces. The company didn’t have coating equipment that could be precise on an imprecise backing such as paper. This resulted in further technology push as advances in the technical performance of 3M allowed for the post-it notes adhesive to be m eliorate as well as a manufacturing process was developed. Fry made sure that secretaries of 3M senior executives got them. in advance long, their bosses were borrowing the little color pads. This Market pull factor illustrated the need for this innovation in the business place.In 1978 samples of numerous post-it was given out in the metropolis of Boise. 3M discovered that more than 90 percent of the community who tried them would buy them. This market pull factor showed the general market need for this product. After success in Boise, 3M was convinced that the market authorisation for the yellow note was enormous and, in 1980, post-it notes were introduced nationally. The Managerial Implications * technical and Market considerations * How to sustain new innovations * Time custom * How to protect innovation from competitors. Recommendations Managers essentialiness take into invoice during problem solving within a firm, the technical and market factors in order to achieve prosperous management of technology. * Managers must invest time and cash in research and development and other efforts to not only make improvements to commercialized technologies but to constantly endeavor to come out with new technologies/innovations. * Managers must respond to time consumption and shorten the time it takes them to design, develop and put new innovations on the market. They must decide when to innovate, update, or replace previous technology .They must also develop methods to cope with shorter product life cycles. This can be done through continuous improvement. * Managers must protect new innovations from competitors through the use of patents, trademarks, copyrights, and designs. This will also result in higher profitability for the organization. Conclusion The development of post-it notes was driven both by technological push and market pull factors. These factors resulted in; the recognition of a potential problem, decision of which technologies to use, a feasible solution to the problem, and the closing commercialization of the innovation.Managers must learn to cope with the implications that will face them. References http://www. innovation. lv/ino2/publications/leonardo_manual/en/www. innosupport. net/webhelp/wso/ind http://multimedia. 3m. com/mws/mediawebserver? 77777XxamfIVO&Wwo_Pw5_W7HYxTHfxajYv7HYv7H777777†ex. [email protected]_id4240pl_id3558. htm http://www. tu-harburg. de/tim/downloads/arbeitspapiere/Working_Paper_5. pdf http://en. wikipedia. org/wiki/Post-it_note http://www. 3m. com/us/about3M/innovation/archive. html\r\n'