Strategy Reading: Technology Strategy

By: Pai-Ling Yin

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Synopsis: This Reading examines how firms can use new technology to compete successfully. It starts by distinguishing how technology strategy is different from conventional competitive strategy. The Reading then describes how technology leaders can develop strategies to manage technology risks, identify market needs, commercialize new technologies, and compete successfully in a market. The author also identifies various factors that determine whether it is better for a firm to lead or follow when introducing a new technology to a market. Such factors include whether a new technology affects only current offerings in an existing industry, or whether it creates an entirely new offering for a new industry. The Reading then considers how a business can position itself to exploit the next new technology. A Supplemental Reading section explains the importance of platform technologies and the strategies that can help a firm succeed in platform competition.