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A Companion to the Philosophy of Technology by Vincent F. Hendricks, Stig Andur Pedersen, Jan Kyrre Berg Olsen Friis

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Chapter 55

Technology Strategy

RICHARD LI-HUA

Technology strategy is no doubt an important but often ignored link in the strategic formulation system. Compared with the position of development and marketing strategy, technology strategy appears to be in a fragmented, piecemeal fashion. However, it has been hoped that this thesis addresses the significance of technology strategy in the process of the creation of competitive advantage and highlights the crucial issues concerning technology strategy, such as the definition, brief history, features, principles, processes and steps of formulation of technology strategy.

A strategy of a nation is a means by which the internal strengths and weaknesses are linked with the opportunities and threats provided by its environment. Technologies by themselves do not establish the overall strengths of a nation. However, the appropriate and effective technology strategy is a key component and driving force in attaining competitive advantage. By integrating proper technology strategy into its overall strategy, a nation can develop a well-defined technology policy toward technology development and innovation (De 2004).

Technology strategy is a relatively recent concept in the area of technology management. After the Second World War, firms in the US such as Westinghouse and General Electric pursued paths of diversification through internal research and development (R&D) efforts (Narayanan 2001). Though the concept of technology strategy was not prevalent ...

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