Does your company have a formal technology strategy or are you just winging it? Deciding what to develop, what to outsource, where to pioneer and where to follow can be critical to the fate of your products and have direct impact on lifecycle and profitability. Below you’ll find a link to a paper, “Elements of Technology Strategy: Identification of Key Technologies and Developing Sourcing, Innovation and Balancing Strategies,” that outlines the basic approach you should consider when reviewing your technology portfolio.
This paper was written by consultant Jay Paap, who is the instructor for Management Roundtable’s workshops on Technology Scouting and Roadmapping. Here’s an abstract of the paper with links below to the full text .pdf.
The technology base of your business is a resource that requires the same strategic positioning as do your marketing, product, and manufacturing assets. While most firms have technology components of business and marketing strategies, they also need a specific technology strategy that guides investment in and positioning of both their short term and long term technology assets. Which technologies are truly critical both now and in the future? What new technologies required to support the future needs of the business? What current technologies are likely to be replaced, when and why? This session provides a framework for understanding which technologies are important and provides guidelines for developing strategies for their development.