Technologies can disrupt markets, or extend them. Good strategists try to understand the impact of innovative or new technologies, how they'll affect your customers, your suppliers, your competitors, and you.
Stuff you want to do
- Examine the merits and risks of innovative technologies at research and development stages
- Assess the application value or business potentials of new technologies
- Evaluate and source existing technologies for implementation
- Debottleneck operations for productivity enhancement or to increase capacity
- Production trouble-shooting - solving performance, quality or emissions related problems
Not all new technologies are disruptive, and not all disruptive technologies are successful or particularly innovative.
Technology commericalizationInnovative technology can deliver a competitive advantage to your business, but how do you harness this power?
Most technological innovations fail in the marketplace. Companies often spend great resources developing an innovative new product only to find that consumers do not buy that product. Sometimes, the problem is the technology; it just fails to deliver on its promises. More often, however, the problem is in the marketing. Either the company has overestimated the product's market potential or it has a lousy go-to-market strategy. The marketing of technological innovations is different from the marketing of other types of goods and services.
- a customer-centric approach to product development
- an appreciation for the risks and rewards of new product concepts
- an understanding of customer behavior and its impact on the adoption and diffusion of technological innovations
- the tactics needed to introduce and manage an innovative new product
- Composite Materials
- Information technology
- Chemical processing
- Raw materials
- Waste management
Technology strategy is all about how you use your means and resources to exercise control over sets of circumstances and markets to achieve objectives. It's hard.