Strategy

Innovation Strategy

Technology Innovation

 

Technology Strategy

How to develop, maintain and exploit technological assets

Vadim Kotelnikov

Vadim Kotelnikov, founder of 1000ventures - personal logo Vadim Kotelnikov

   

 

 

Technology Strategy Defined

Technology strategy is the task of building, maintaining and exploiting a company's technological assets.

 

 

 

Technology Foresight

Business models emerge continually. Technology foresight involves predicting and preparing for the opportunities and challenges that new technologies offer.

Futures Thinking is a method for informed reflection on the major changes that will occur in the next 10 or more years in the target area. Futures thinking can feed into Design Thinking. Divergent and convergent phases of the Futures Thinking process produce a series of scenarios, which illustrate multiple options for what the future might be... More

 

 

 

 

Two Approaches to Technology Strategy

 
 

Introducing innovative technology

Fullest exploitation of the company's existing technology through

finding new applications of technology

integrating different technologies

establishing effective linkages between separate tasks in developing new product technology

transferring technology between different units within the company

licensing out

joint ventures

 

Technology Road-Mapping

The linkage of corporate business strategy and technology strategy plays an important role in firmsí success. Technology forecasting, technology assessment and product planning are integrated by road-mapping. Road-mapping is a powerful integrated device for improving the quality of technology management and integration of various activities. A good technology road-mapping, such as Delphi Strategy Writing (WSR) Method for Road-Mapping, could perform more generic technology management functions... More

 

 

Developing New Products

Project portfolio management includes:

consideration of investment

financial implications of potential projects

judgments about risk and the probability of success

overall balance of the product mix achieved: short term versus long term; cost reduction versus new-product development; incremental improvements versus disruptive technology

 

Strategic Licensing Out

By licensing out its technology, a company may generate income from unused portions of its intellectual property. In addition to making this potential energy kinetic, licenses enable a company to exploit other markets by allowing the licensee to apply the existing technology to a different market. When an invention is useful to several industries, licensing can prove profitable to both the licensor and the potential licensee as experts in separate fields... More