STRATEGIC ISSUES IN TECH MGT

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.