A strong technology platform provides a competitive advantage for a organisation. If the technology is transferable to other markets it offers the potential for growth.
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.
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 by managing the technology across the whole business can provide economies of scale. Creating the critical mass and finances to support its future growth.
If you are having difficulties watching the video above you can view it on YouTube here.