Strategic Technology Management

Week 1 - Ensuring Adaption (Why?): This first session is meant to explore why adopting a strategic approach to technology management is of utmost importance for the performance and survival of firms operating in dynamic environments. We will draw on the theory of structural inertia and the dynamic capabilities view to examine the relative benefits and costs of exploiting existing technologies versus exploring new technological opportunities. We will then identify the circumstances under which a focus on technological exploration or exploitation appears most critical for firm survival. We will conclude by describing some of the key managerial decisions in the field of STM.

Week 2 - Allocating Resources (Where?): Given the scarcity of their resources, firms need to be selective in their technology development initiatives. Scoping the organizational playing field by identifying strategic priorities for technology development is hence paramount for effective STM. In this session, we will turn to the market- and resource-based views in the field of strategy for guidance on this important question. Building on these insights, we will compare and contrast the market pull and technology push model. We will also explore a number of strategy and technology portfolios, which are simple, yet useful tools to map and assess a set of development options. Last, we will discuss the importance of timing by juxtaposing the benefits, challenges and requirements of first-mover and follower strategies.

Week 3 - Timing Entry (When?): The timing of resource allocation is as important as deciding which technology to pursue. In particular, whether a company is the first to enter a new market often measures the success or failure of a new business. In this session, we will explore the right timing of a technology strategy in depth.

Week 4 - Designing Processes (How?): In this session, we will explore how organizations can design effective and efficient innovation process. For this purpose, we will review a number of distinct process models and unpack the concept of organizational creativity. We will also illuminate the challenging task of attempting to change the rules of the game, that is, received wisdom about how business ought to be conducted in a particular industry. Last, we will explore the theme of employee resistance likely to be associated with major process changes and disruptive innovation.

Week 5 - Engaging Partners (with whom?): The locus of technology development and competition is shifting from the individual organization to the organizational ecosystem. As a result, the long dominant closed innovation model is gradually being replaced by more open approaches as part of which organizations broaden the range of external partners, they rely upon to fuel their technology development efforts. Establishing and managing this ecosystem thus become a vital task of STM. In this session, we will draw on the relational view of the firm to explore the merits and challenges associated with such a more collaborative model. We will also identify key resources and capabilities firms need to establish if they are to establish, cultivate and benefit from a strong innovation ecosystem.

Week 6 - Capturing Value (So what?): Innovators often face difficulties in capturing value from their inventions, such as monetizing intellectual property and managing the risk of imitation by competitors. We will discuss different determinants of value appropriation, such as the appropriability regime and the technology at hand. Finally, we will examine business model innovation, which involves designing new ways to create and capture value. We will explore the importance of aligning value creation and capture in the business model.