A Structured Approach to Corporate Technology Strategy

A Structured Approach to Corporate Technology Strategy
Step 1 – Access Current Situation
Organization is categorized performance
Internal background – Company’s goals, strategies,
Capabilities
External Background – Business & technology environment
in which company operates
Understanding of future business environment
Customers Competitors
Suppliers Demand for product
Industry financial ratios Economic trends
Understanding of the technical environment
Patents – Key technologies
Center of research excellence & capabilities
Level of funding
The potential for break thoughts
Barriers to technology deployment
STAs – Strategic technology areas
Step 2 – Specify Technology Strategy
Specify a game plan for technology development
Four main elements
Customers Competitive Approach
Investments Organizational Culture
Important technology components
1) Market Competence
Product differentiation
Low cost producer
2) Market Scope
 Largest market share
 Specialized niche player
3) Market timing
 First Mover / Leader
 Wait & Ignore
Step 3 – Select Technology portfolio
Identify suitable candidates
A remote scanning of literature
Observing the technology environment
Monitoring competitors – Suppliers – Customers
Attending conferences
Symposia & assignments
A few criteria are…
Payback cost benefit ratio
Market / Spin off potential
Business sector priority
Continuous availability of funding
Technological risk
Potential for high innovation
Step 4 – Executive technology investment
Functions…
Organize the work team
Planning the details of the work
Staffing the work activities
Directing & leading the effort
Controlling the activities to ensure compliance with plans &
needs
Step 5 – Transfer results for deployment
Activities Needed
Prototype development
Scale up production / Purchase
Distribution / Installation
Step 6 – Secure long term position
Final Stem
Monitoring / Review & feedback activity
Continuous monitoring activities of others
Business & technology trends