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What Comes After "New-To-The-World" Product Success For A Small Firm? Utilize Mot Analysis And Implementation For Innovative Products And Competitive Lead

In: Challenges In The Management Of New Technologies

Author

Listed:
  • Myra Urness

    (Department of Radiology, University of Minnesota, Minnesota, USA)

Abstract

A Management of Technology (MOT) strategy analysis should be used to position this firm to remain competitive in the medical device industry and to maximize the probability for sustaining a competitive advantage. This analysis was built from MOT knowledge and experience in R&D where 'new to the world' medical device products were consistently being developed. These medical devices are now the preferred treatment by patients and the medical specialties of Interventional – Radiology, Cardiology and Neurology. This MOT strategy analysis includes: continuous scanning of landscapes, SWOT analysis, scenario analysis, understanding patient and physician needs, and balance of the firm's capabilities (current and future) for the best possible outcome. This analysis is not a one time effort but a continuous or quarterly review so that the firm remains competitive and positioned to maximize opportunities. The outcome for this firm is: 1. Understand methods of MOT strategy analysis to build innovative products and competitive lead. 2. Four key points to implement immediately.

Suggested Citation

  • Myra Urness, 2007. "What Comes After "New-To-The-World" Product Success For A Small Firm? Utilize Mot Analysis And Implementation For Innovative Products And Competitive Lead," World Scientific Book Chapters, in: Marianne Hörlesberger & Mohamed El-Nawawi & Tarek Khalil (ed.), Challenges In The Management Of New Technologies, chapter 6, pages 69-85, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812770318_0006
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