Implementation of Technological Innovation in a Manufacturing Company

Abstract

The dynamics of change in the market force organizations to be ready to take up challenges. The innovation of enterprises is a determinant of their development. Implementation of technological innovation involves a large number of important strategic decisions. This publication discusses the issue of implementing technological innovation in a manufacturing enterprise. The subject of the manuscript includes the creation of a comprehensive methodology of proceedings. This, in turn, includes issues that determine the effectiveness of the management process of an innovative project in a small-batch production enterprise, whose specificity requires the proposal of a methodology for creating a concept of an innovative product under the conditions of limited project resources. The presented approach provides support for the creation of an innovation concept and its proper management. The proposed methodology allows for the evaluation and selection of optimal solution variants and the development of the technical preparation of new production in terms of construction, technology, and organization. The implementation of improvements presented in the article results in an increase in the company’s ability to successfully implement technological innovations, whose implementation is an essential step to increase the value and growth of the company.

Keywords

• technological innovation
• Blue Ocean Strategy
• evaluation of solution options
• selection of the optimal solution