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product innovation blog

A new offering from Strategy 2 Market – Technology Strategy Management

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Businesses often have a reasonably articulated strategy for their product development projects. However, effective Technology Management often takes a back seat. Companies should consider a strategic approach to the development of technologies to position themselves adequately for short and long term competitiveness.

A good technology strategy incorporates a good mix of technology development efforts, technology intelligence and intellectual property management.

Technology Development Planning – should provide an optimal portfolio of technology development efforts to:
a) Meet the core functional needs of your customers
b) Meet the innovation needs in your business and industry
c) Guide the sourcing or acquisition of technologies for sustainable competitive advantage
d) Appropriately balance short term projects and long term projects.

Technology Intelligence – provides for a systematic approach to staying abreast of technology development efforts, capturing, acquiring and absorbing technologies to stay competitive. This involves mining for technology developments in universities and research institutions, start-ups as well as your competitors and/or suppliers. A good technology intelligence strategy provides you with potential opportunities for partnerships and/or acquisitions as well as intelligence to manage new opportunities and potential threats.

Intellectual Property Management – A key aspect of technology management is managing your intellectual property portfolio. This should provide you with answers to questions such as:
a) Are you patenting the appropriate technologies?
b) How big is your patent portfolio compared to your competitors and within your industry?
c) What is the appropriate rate of patenting for your industry, business and innovation needs?
d) Do you have appropriate fences being built around your technologies to establish a competitive advantage?
e) What are the risk areas where you might be potentially blocked out of market opportunity?

At Strategy 2 Market, we provide you with a review of the intellectual property landscape in your industry as well as information on patent fences and patent rate and momentum. Additionally, we can provide you with information on competitors and potential new entrants. We then work with you to evaluate your technology portfolio and advise you on the appropriate strategies for planning and road mapping your technology development projects and establish technology intelligence clusters that meet the needs of your business.

For more information, contact Mary Drotar at either [email protected] or 312.212.3144.

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