Strategic issues in technology management

Answer 1

STRATEGIC ISSUES IN TECHNOLOGY MANAGEMENT: Traditionally business firms are defined by markets they serve. Who are our customers? What are their needs? During 1970’s and 1980’s management were concentrated on industry environment of the firm, its competitive rivals and how to satisfy customers. This perspective is known as market-based perspective. It tends to play the role of internal capabilities of firm. In recent year resource-based views of firm have been developed. It depends upon the bundle of resources, capabilities which are more stable and used for long-term decision-making. DIMENSION MARKET-BASED RESOURCE-BASED Drivers of strategy Customers and Competitors Unique resources Derivatives Resources Market opportunities Strategy profile Positional Core competencies Appropriate contexts Nature Markets Dynamic markets The general technology development strategy principles can be kept in view: i) It is important to be selective in self-development of technology. Emphasis should be given to total integration of all activities in the technology production chain to achieve self-reliance. ii) In selecting areas of development, a country can be inward-looking in some areas and outward-looking in some other areas. iii) Import substitution can only be a temporary strategy. iv) In the technology production chain, a number of activities involving basic and applied research can be undertaken, but it is important to be able to discard some of the non-productive projects and concentrate, from time to time, upon those which have high commercial potential. v) Technology development is best achieved through collective effort. Individuality, which tends to aim at being unique rather than practical, should be minimized. .