Technology Strategy

A technology strategy that is aligned with the corporate mission can help focus R&D on doing the right things for growth. It can also support the R&D manager when making difficult decisions such as how to restructure the department or manage the product portfolio

technology strategy includes

Gain a market perspective

involve marketing, business strategy and finance from the beginning or the strategy will not progress.

Seek objective external input

this is required to prevent self-justification and myopia

Engage with experts

Internal brainstorms are useful to get alignment, but will not create the new

Disruptive technology

offers greatest potential for growth and risk – some parts of the process need to be iterative rather than sequential, new technology brought in from other sectors may change customer needs in a way that is unpredictable

Continual improvement

every technology strategy needs to have an implementable technology plan otherwise nothing will happen.

Strong leadership and follow through

technology strategy needs to be continually refined unlike business planning or budgets for next year, which is a one-off event.