Strategic management of technology

Abstract

The first step in making sure that R&D spending is productive is to be sure it is going in the same direction as the overall business strategy. Simple enough to say but not always so simple to do. Chris Pappas suggests that the corporate strategy process often focuses on financial factors and market share and neglects technology as a key resource to be planned. With competitive success as well as productivity and profitability becoming more directly tied to technology development, it is time to give technology a more important place in the corporate strategy process. Using the example of an actual firm, Pappas shows that the key to achieving a sustainable competitive advantage lies in formulating the right technology strategy and integrating it into the corporate planning process. His article includes a useful framework for analysis and planning.