Is yours a technology-driven company?
Is your company’s strategy driven by the technology you provide to the market?
Today we will discuss this topic of strategy to help you determine what is guiding you in the decisions you make for the future of your firm.
What is Technology?
Technology is a learned body of knowledge that can be reproduced in the form of a product or service. This technology can also be updated or extended periodically to provide enhancements to its users.
Technology as the Driving Force
The Technology-driven firm only offers products and services that are derived from its technological capabilities. These organizations offer products to market based solely on the technology employed to create them. The products or market do not determine the technologies used. Technology-driven companies seek a variety of applications for their body of work and do so by developing products and services that use their technology. These firms may also seek customers who will use the technology to develop additional products or services.
Technology-driven companies normally want to be the technological and innovation leader in their chosen field. While they may not always be the initiator of breakthroughs in technology, they typically focus on converting knowledge from these breakthroughs (theirs or others’) into applications that that can be converted to revenue generating products and services.
Some typical examples of firms driven by technology are Intel (semiconductors) and medical research facilities such as the CDC in Atlanta, Georgia, USA.
Check here for initial post of this series, “What is Driving Your Company?”
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