In closing this section on technology strategic planning one can ask is we did in the beginning is it really worth the trouble. This was studied by the Industrial Research Institute's Research-On-Research Committee's Subcommittee. This group studying technology and business integration checked for the dimensions for achieving alignment of the company's technology portfolio [...]
Although not so much a strategic planning method, using equity crowdfunding such as Kickstarter is an interesting way to select projects. This involves having consumers or key stakeholders “put their money where their mouth is”. It’s an alternative way to quickly determine if new business ideas are viable. It makes the statement “any [...]
Another approach to strategic planning is to develop an Innovation Thesis. The process to do so consists of seven steps utilizing 10 to 12 top executives within the business for a two day workshop. This must include all the top decision-makers across operations, finance, marketing, heads of business units, and the CEO. Business [...]
Framework for Business Model Innovation One of the innovations that happened in the 1990s was to make more money off of innovating upon your company’s business model that innovating further upon the company’s technology. It didn't take long to figure out however that neither was really done in isolation. In fact the desired [...]
Another important way to look at technology strategy is to look at the timelines on which new product and service commercialization will occur. This is important because shareholders of the Corporation want to see constantly improving revenues and profits. Viewing the innovation strategy from the standpoint of when the projects will go commercial [...]
Technical Difficulty and Commercial Potential The classic method for evaluating and selecting next-generation products is to look at risk versus reward. The risk is often put in terms of technical difficulty whereas a reward is usually defined as net present value given success. The classic 2 by 2 matrix is shown in the [...]
The next step in the technology strategic planning process is to review the projects. One of the most important elements at this point is to divide projects into three categories: These are those projects in which the technology changes are incremental, those in which the technology changes are next generation, and those projects [...]
The reviewing the environment approach to technology strategic planning consists of looking both inside and outside the company for patterns that affect the technology project portfolio. What follows are a mix of methodologies from various sources. They allow a corporation to see clearly the environment in which they are operating. Although many of [...]
The Desired Relationship Between Risk And Reward in R&D The book “Third-Generation R& D, Managing The Link To Corporate Strategy” shared solid strategies to plan when undertaking next-generation projects. This classic book advocated what should really drive R& D and business strategy was a relationship between risk and reward in R&D investments. The [...]
Four Phases of QFD Analysis Technology/Product Function/Market Matrices can be tightly integrated into companies’ quality function deployment or QFD or Six Sigma methodologies. A typical phased approach to QFD based planning is shown in the “Four Phases of QFD Analysis” figure. Relating Customer Requirements to Benefits via Desirability Functions Phase 1 of this [...]
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