Technology strategy is essential in a competitive market
A technology strategy – that is aligned with the corporate mission – can help focus R&D on doing the right things for growth. It can supports the R&D manager to: –
- Make difficult decisions such as how to restructure the department or manage the product portfolio.
- Objectively identify the right technology opportunities and defend from possible technology disrupters.
The different facets involved in creating a technology strategy are covered in our theme.
A strong technology platform provides a competitive advantage for a organisation.
Steve Bone of nu Angle describes how a technology strategy runs in parallel to the business plan in this short video. He uses the example of biofilm management to show how although each business unit might have its own market challenges managing the technology across the whole business can provide economies of scale.
He says: “First, you need to decide what part of the technology you are really good at and to gain an objective view as to whether your lead is sustainable, because you don’t want to risk your core business by spreading your resources too thinly.
“One method of reducing risk is to manage the technology horizontally across the organisation so that all the business units benefit from the investment. This has been described as a ‘technology skewer’ – an approach to technology management that can support growth.”
He explains more in the video
If you are having difficulties watching the video above you can view it on YouTube here.
Articles Relating to Strategy
The most effect bringers of new external ideas into an organisation, comments Phil Kennedy are individuals that are not only tech-savvy but business-savvy. He reviews a paper on absorptive capacity and offers learning points for new product development.Read more
The leadership style of the innovation team leader - learning goal or performance goal - sets the team's ambition for front-end innovation, Peter Robbins found; "for genuinely novel, original ideas a learning motivation is needed."Read more
Chatbots have evolved to answer questions and may now offer new ways to communicate knowledge within a lab, according to a recent paper by Accenture. Steve Bone considers this new development.Read more
Could tools used by the digital industry provide answers for more traditional sectors? Steve Bone discusses a McKinsey article about tools and techniquesRead more
Understanding of Industry 4.0 so far has been limited to process automation and performance improvement, undervaluing the role of the Industry 4.0 design principles, such as interoperability, transparency, technical assistance, decentralization argues Lia Tirabeni, 7.2 Track co-chair.Read more