A technology strategy is a set of decisions– related to the use and development of technology– intended to confer advantage to the firm. Of course a technology strategy is part of the more comprehensive competitive strategy of the firm. (In this course we use the term technology broadly, and so a technology strategy is not limited to the firm’s use of information technology, which is often also called the technology strategy.)
We largely take the perspective of the firm that embodies technologies that it creates or acquires into its products, services, or means of delivering goods and services.
There are all challenging decisions involving many factors related to the underlying technologies themselves, the capabilities of the firm, and the environment in which the firm operates.
Technology strategy comparies the definition, development, and use of those technological compatencies that constitute their competitive advantage. Strategic matters include choosing and developing the competencies that shape firms opportunities for innovations and continue competitiveness.
Competencies consist of to elements : The resourches curently available to a firms, and the innovative capabilities the firms possesses to define and change those resourches. Competencies have stategic potential when they are Valuable, Rare, Imperfectly, imitable, and have no strategically equivalent substitutes.
Innovative capabilities. These include the ways firms forecast ad assess changes occurring in their technologies and markets. That is Forecasting and assesing, Searching and selecting, Acquiring and protecting, Implementing, Coordinating and integrating, Aligning.
To develop their technological competencies, firms need to balance their investments in resources and innovative capabilities. These investment should reflect the firms broad need to consolidate, differentiate, or diversify its technological competencies (there is overlap beetwen these approaches, and companies can pursue elements of it).
Learning can be described as the ways firm build, suplement, and organize knowladge arround the competences and within their cultures and adapt and develop an organizational efficiency through improving the use of these competences.