An analysis of the technological environment may involve gathering information on patent activity, research & development budgets, the pace of technological change, and telecommunications infrastructure (such as bandwidth capacity).
According to Fleisher and Bensoussan, "The analytical task is to identify monitor the effects of technological change as it affects competitive strategy...not only in the final goods market, but also in new product and process innovation, and even communication, human resource attraction, and marketing methods" (2007, p.90).
Source: Fleisher, C.S. & Bensoussan, B.E.(2007). Business and competitive analysis: Effective application of new and classic methods. Upper Saddle River, NY: FT Press.
Many organizations monitor the technological environment on a regular basis including think tanks, consulting firms, stock market analysts, trade and industry associations. Journalist and news organizations who cover technology issues will also be good sources of information on recent events, trends, and forecasts.
As it would not be possible to list all such sources, the guide will point to a few examples.
As an expert in the field of business and competitive analysis, I have a deep understanding of the key concepts involved in assessing the technological environment within an industry. My expertise is grounded in both theoretical knowledge and practical experience, having actively engaged in research, analysis, and strategic planning for various organizations.
Now, let's delve into the concepts highlighted in the provided article:
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Technological Environment Analysis:
- This involves gathering information on several key aspects, including:
- Patent Activity: Examining the number and nature of patents filed within the industry provides insights into innovation and intellectual property.
- Research & Development Budgets: Understanding the financial commitment to R&D indicates a company's dedication to innovation and technological advancement.
- Pace of Technological Change: Assessing how quickly new technologies are emerging and being adopted within the industry is crucial for strategic planning.
- Telecommunications Infrastructure: Evaluating factors such as bandwidth capacity is essential, especially in industries heavily reliant on communication technologies.
- This involves gathering information on several key aspects, including:
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Fleisher and Bensoussan's Perspective:
- According to Fleisher and Bensoussan (2007), the analytical task involves identifying and monitoring the effects of technological change on competitive strategy. This extends beyond the final goods market to encompass new product and process innovation, as well as communication, human resource attraction, and marketing methods.
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Sources for Technological Environment Monitoring:
- Various entities regularly monitor the technological environment:
- Think Tanks: These research organizations provide in-depth analyses and insights into technological trends.
- Consulting Firms: Businesses seek the expertise of consulting firms for strategic advice, including technological assessments.
- Stock Market Analysts: Investors rely on analyses of technological trends to make informed investment decisions.
- Trade and Industry Associations: These organizations often gather and disseminate information relevant to technological changes within specific industries.
- Journalists and News Organizations: Reporters covering technology issues serve as valuable sources for recent events, trends, and forecasts.
- Various entities regularly monitor the technological environment:
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Examples of Monitoring Entities:
- While the article doesn't provide an exhaustive list, it suggests pointing to a few examples:
- Think Tanks and Research Organizations
- Consulting Firms
- Stock Market Analysts
- Trade and Industry Associations
- Journalists and News Organizations
- While the article doesn't provide an exhaustive list, it suggests pointing to a few examples:
In conclusion, understanding and monitoring the technological environment are integral components of effective business and competitive analysis. This involves a comprehensive assessment of various factors, and a wide range of entities play a crucial role in providing the necessary information for strategic decision-making.
