Advantage of Technical knowledge in making Business decisions

Authors: Karthik Hosavaranchi Puttaraju

DOI: https://doi.org/10.5281/zenodo.14121915

Short DOI: https://doi.org/g8qtsr

Country: United States

Full-text Research PDF File:   View   |   Download

Abstract: Abstract— A company's success in the modern business landscape is always tied to its ability to innovate on its processes, products, and services. Product innovation has always been a key driver in acquiring market share, establishing competitive advantage, and even demonstrating the strength of sustainability [1]. However, engineers constantly struggle to align innovation with management decisions, especially when attempting disruptive innovation. This paper explores the disconnect between business leaders and engineering teams and emphasizes the need for mutual understanding to bridge the gap, highlighting the importance of technical knowledge in management and a business mindset in engineers. It also outlines the complexities of the modern product innovation process and proposes methods for overcoming these challenges. Strategies such as technical upskilling for business leaders and cross-functional collaboration to foster an innovation-friendly environment are proposed to enhance product innovation and facilitate better decision-making processes.

Keywords: product innovation, technical challenges, technological uncertainty, engineering, business management, decision-making, cross-functional collaboration, technical literacy, system integration.

Paper Id: 231587

Published On: 2021-01-12

Published In: Volume 9, Issue 1, January-February 2021

Cite This: Advantage of Technical knowledge in making Business decisions - Karthik Hosavaranchi Puttaraju - IJIRMPS Volume 9, Issue 1, January-February 2021. DOI 10.5281/zenodo.14121915

Share this