Tutorial Sheet #7 - Mit.docx

MANAGEMENT OF INNOVATION & TECHNOLOGY

TUTORIAL SHEET #7 DISCUSSION QUESTIONS Unit #7a: Technology Strategy Michelle Bailey-Lindsay (ID# 0413163) •

Define technology strategy.

Ans. - Technology strategy is the task of building, maintaining and exploiting a company's technological assets. •

Describe the link between technology and business strategy decisions. Be able to discuss the reasons why this link exists.

Ans.- The linkage of technology and business strategy decisions plays an important role in firms’success. Technology has an inner logic that simply must be considered in a company’s strategic planning - that process of creating a concept of the business it is in, identifying its goals and objectives and the long-term policies to meet them, and formulating plans of action. Technology forecasting, technology assessment and product planning are integrated by road-mapping. Integrated technology road-mapping provides a practical instrument for middle- and long-range technology development and business strategy formulation by aligning internal and external resources and social marketing factors. •

Describe the role of the Chief Technology Officer (CTO) in technology strategy.

Ans.- Overseeing all uses of information technology and ensuring the strategic alignment of IT with business goals and objectives. They are a manager, leader, and communicator. they are responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization's information technology. Have direct responsibility for ensuring the efficiency of IT systems throughout the organization; possess well-rounded knowledge of all aspects of IT, including hardware, software, and telecommunications. •

Identify and discuss the key principles underlying technology strategy.

Ans.•

Specific choices made by firms, whether deliberate or emergent, exhibit a pattern over time. These patterns may be classified along two dimensions? Name and describe them.

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Outline the four broad types of technology strategies on which the two dimensions are based. Each strategy type is appropriate for different strategic contexts. Discuss two concepts that characterize the stages of technological evolution of competitive domains and the strategic positions of firms. Explain, using the concept of diversified firms, how technology strategy types occur in diversified firms. Discuss the types of diversification firms and they technology strategy employed in each. Indicate how the technology strategy of a firm is a fundamental driver of its profitability. Explain the central principles that underlie technology choices. Describe the stages through which technology strategy is formulated and explain how these stages influence one another. What are the Managerial Implications of Technology Strategy?

Unit #7b: Technology Strategy – The Collaborative Mode • • • • • • • • • • • •

Define collaborative arrangement and investigate the special characteristics inherent in the definition. Compare and contrast the two categories of collaborative arrangements. Distinguish between the three types of strategic alliances firms develop to further their competitive objectives. What are the three major reasons why firms seek collaborative relationships with other partners, including their competitors Identify four major operational objectives that may prompt a firm to undertake collaborative arrangements with other firms What are the five major categories of collective research organizations? Describe the steps involved in the formulation of technology strategy. What are the advantages and disadvantages of inward technology licensing (ITL) Explain the factors that can contribute to organizational risks of collaborative activity What are the key factors necessary for the success of a strategic alliance? Explain how the environmental trend of globalization is influenced by the increasing emphasis on the collaborative mode of implementation of technology strategy. Explain the managerial implications associated with using collaborative arrangements as a means to implement technology strategy.