Essay on Reflection Report 1

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IMPORTANT FACTORS FOR SUCCESSFUL TECHNOLOGY LEADERSHIP
After going through some articles on technology leadership, I find innovation, adaptability and marketing strategy to be the most important factors for successful technology leadership.
Every day new technology enters the market and the technology leaders are put in a catch whether to implement it in their organizations or not. According to me, a good leader should welcome change. The current life is a race. If we fall back, we’ll be vanished. So a technology leader should be innovative and put his organization on par with his competitors. [1] According to a study conducted by CISCO in 2005, innovation is the key factor in business success. The CISCO CEO states that “The economic benefits of innovation, which include greater productivity and leadership in new markets, are what will ensure that global economies maintain their competitive edge."
Innovation produces a breakthrough in a firm’s R&D and that gives the organization the confidence to enter the unknown territory to gain the First Mover advantage (FMA). FMA is mainly achieved by a strong technological leader. By being the first entrant in the market segment, the organization gets control over the resources that the followers may not be able to match.
Being innovative alone is not sufficient for successful technological leadership. Adaptability is another important factor. I would like to demonstrate a small scenario which illustrates the importance of adaptability in an organization. Let us consider a company which had revolutionized the market with its innovative products. What if the company failed to adapt to the changes in the market and consumer needs and continued to use the out-dated technology (innovative of-course, but only to a certain period of time)? This is the case with the once smart- phone technology giant, Blackberry. It failed to adapt to the changes in the technology market. The company was innovative in the initial stages (before Apple emerged into the market), in fact the [3] philosophy of Mike Lazaridis, CEO of Blackberry, is ‘The kiss of death is when you allow marketing to dumb down innovations’, they resisted to the changes in the technology, like having touch screen mobiles instead of the physical keypad. As this
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