Strategic technology assessment, future products and competitive advantage Online publication date: Fri, 22-May-2009
by Charles W. Thomas
International Journal of Technology Management (IJTM), Vol. 11, No. 5/6, 1996
Abstract: An analytical process that continually re-evaluates future product requirements must be the foundation of technology planning and forecasting. Technology assessments supported by such analysis have numerous advantages since future product performance is tied directly to anticipated customers, markets and competitors. This linkage imparts certain rigorous requirements upon any technology assessment method, however. Clear paths must be established between future product performance and today's technology investment choices. The technology assessment method must be flexible and adaptable, since 'future customer' requirements may change or unanticipated technologies may appear on the horizon. Finally, the technology assessment method must be practical. It must provide research and development (R&D) management with a clear decision tool that sheds light on issues such as the cost, development time and performance outcomes of choosing one set of technologies over another for a future product.
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