Value roadmapping: A structured approach for early stage technology investment decisions

Deciding to invest in early stage technologies is one of the most important tasks of technology management and arguably also the most uncertain. It assumes a particular significance in the rise of technology companies in emerging economies, which have to make appropriate investment decisions. Technology managers already have a wide range of methods and tools at their disposal, but these are mostly focussed on quantitative measures such as discounted cash flow and real options techniques. However, in the early stages of technology development there seems to be a lot of dissatisfaction with these techniques as there appears to be a lack of accuracy with respect to the underlying assumptions that these models require. In order to complement these models this paper will discuss an alternative approach that we call value road-mapping. By adapting roadmapping techniques the potential value streams of early stages technologies can be plotted and hence a clearer consensus based picture of the future potential of new technologies emerges. Roadmapping is a workshop-based process bringing together multifunctional perspectives, and supporting communication in particular between technical and commercial groups. The study is work in progress and is based on a growing number of cases. (c) 2006 PICMET.

Exploring the impacts of the interactions between lifecycles and other dynamics that influence the development of technology-based industries

To address future uncertainty within strategy and innovation, managers extrapolate past patterns and trends into the future. Several disciplines make use of lifecycles, often with a linear sequence of identified phases, to make predictions and address likely uncertainties. Often the aggregation of several cycles is then interpreted as a new cycle - such as product lifecycles into an industry lifecycle. However, frequently different lifecycle terms - technology, product, industry - are used interchangeably and without clear definition. Within the interdisciplinary context of technology management, this juxtaposition of dynamics can create confusion, rather than clarification. This paper explores some typical dynamics associated with technology-based industries, using illustrative examples from the automotive industry. A wide range of dimensions are seen to influence the path of a technology-based industry, and stakeholders need to consider the likely causality and synchronicity of these. Some curves can simply present the aggregation of components; other dynamics incur time lags, rather than being superimposed, but still have a significant impact. To optimise alignment of the important dimensions within any development, and for future strategy decisions, understanding these interactions will be critical. © 2011 IEEE.

Regulation: A Burden in Biopharmaceutical Industry? The Case of EU-Risk Management Plans

The generation of new medicinal products is both a contributor to global economic growth and a source of valuable benefits to human health. Given their direct responsibility for public health, regulatory authorities monitor closely both the development and exploitation of the underlying technologies and the products derived from them. The manner in which such regulation is implemented can result in regulators constraining or facilitating the generation of new products. This paper will study as an example the impact of EU Risk Management Plans (EU-RMPs), which have been mandatory for the approval of new medicines since 2005, on both the industry and regulatory authorities. In interviews, the responses of those who had experience of the implementation of EU-RMPs were mixed. Although the benefits of a more structured and predictable approach to the evaluation of risk were appreciated, some respondents perceived the regulation as an excessive burden on their organisations. The exploration of factors that influence how EU-RMP regulation affects individual firms provides new insights for both regulators and managers, and demonstrates one aspect of the complexity of the process by which new medicinal products are brought to market.

Regulation: A burden in biopharmaceutical industry? The case of EU-risk management plans

The generation of new medicinal products is both a contributor to global economic growth and a source of valuable benefits to human health. Given their direct responsibility for public health, regulatory authorities monitor closely both the development and exploitation of the underlying technologies and the products derived from them. The manner in which such regulation is implemented can result in regulators constraining or facilitating the generation of new products. This paper will study as an example the impact of EU Risk Management Plans (EU-RMPs), which have been mandatory for the approval of new medicines since 2005, on both the industry and regulatory authorities. In interviews, the responses of those who had experience of the implementation of EU-RMPs were mixed. Although the benefits of a more structured and predictable approach to the evaluation of risk were appreciated, some respondents perceived the regulation as an excessive burden on their organisations. The exploration of factors that influence how EU-RMP regulation affects individual firms provides new insights for both regulators and managers, and demonstrates one aspect of the complexity of the process by which new medicinal products are brought to market. © 2010 IEEE.

Developing a technology intelligence strategy at kodak european research: Scan & target

OVERVIEW: Kodak European Research (KER) developed a strategy for technology intelligence based on a theoretical model developed by Kerr et al. (2006). KER scouts designed and implemented a four-step approach to identify relevant technologies and research centers across Europe, Africa and the Middle East. The approach provides clear guidance for integrating web searches, scouting trips, networking and interactions with intermediaries. KER's example illustrates how companies can organize themselves to look outside corporate boundaries in search of technologies relevant for their business. The approach may be useful to those in other companies who have been asked to start a technology intelligence activity. © 2010 Industrial Research Institute, Inc.

Disentangling the Complexity of Early-Stage Technology Acquisitions

While tools have been developed to assist firms' decision making for bringing known products and components into the supply chain, fewer tools are available to guide the acquisition of earlier-stage technologies, which is a riskier proposition due to higher technological and market uncertainties. Through synthesis of literature in technology sourcing, open innovation, alliances, mergers and acquisitions, outsourcing, and technology and knowledge transfer and consultation with industry, this paper identifies critical issues that decision makers should consider before making an early-stage technology acquisition. Sixteen questions emerge to guide decision making, comprising internal, technology, and partner assessments. These questions allow a firm to disentangle the complexity of early-stage technology acquisitions and select the most appropriate targets.

Dynamic technology leadership: The adaptive role of the CTO

OVERVIEW: The importance of the chief technology officer role is widely accepted, particularly in today's turbulent, global conditions. However, not enough is known about the key activities of CTOs or the factors that influence their priorities. Thirty in-depth interviews conducted with the CTOs in global firms identified key activities: aligning technology and corporate strategy and business models, determining technology entry and exit points, and preparing business cases to secure funding for technology development. The research also showed that priority areas for CTOs are related to technology transition points-major contextual and business discontinuities that impact the focus of the CTO. We conclude that the determination of priorities at these technology transition points is highly idiosyncratic and closely related to whether the CTO functions more or less strategically.

Analysis of document-mining techniques and tools for technology intelligence: Discovering knowledge from technical documents

This research proposes a method for extracting technology intelligence (TI) systematically from a large set of document data. To do this, the internal and external sources in the form of documents, which might be valuable for TI, are first identified. Then the existing techniques and software systems applicable to document analysis are examined. Finally, based on the reviews, a document-mining framework designed for TI is suggested and guidelines for software selection are proposed. The research output is expected to support intelligence operatives in finding suitable techniques and software systems for getting value from document-mining and thus facilitate effective knowledge management. Copyright © 2012 Inderscience Enterprises Ltd.

Market-pull and technology-push in manufacturing start-ups in emerging industries

Purpose - As traditional manufacturing, previously vital to the UK economy, is increasingly outsourced to lower-cost locations, policy makers seek leadership in emerging industries by encouraging innovative start-up firms to pursue competitive opportunities. Emerging industries can either be those where a technology exists but the corresponding downstream value chain is unclear, or a new technology may subvert the existing value chain to satisfy existing customer needs. Hence, this area shows evidence of both technology-push and market-pull forces. The purpose of this paper is to focus on market-pull and technology-push orientations in manufacturing ventures, specifically examining how and why this orientation shifts during the firm's formative years. Design/methodology/approach - A multiple case study approach of 25 UK start-ups in emerging industries is used to examine this seldom explored area. The authors offer two models of dynamic business-orientation in start-ups and explain the common reasons for shifts in orientation and why these two orientations do not generally co-exist during early firm development. Findings - Separate evolution paths were found for strategic orientation in manufacturing start-ups and separate reasons for them to shift in their early development. Technology-push start-ups often changed to a market-pull orientation because of new partners, new market information or shift in management priorities. In contrast, many of the start-ups beginning with a market-pull orientation shifted to a technology-push orientation because early market experiences necessitated a focus on improving processes in order to increase productivity or meet partner specifications, or meet a demand for complementary products. Originality/value - While a significant body of work exists regarding manufacturing strategy in established firms, little work has been found that investigates how manufacturing strategy emerges in start-up companies, particularly those in emerging industries. © Emerald Group Publishing Limited.

Linking business ecosystem lifecycle with platform strategy: A triple view of technology, application and organisation

This paper explores platform strategies along the business ecosystem lifecycle (BELC), based on a multiple-case study. Developing observations on platform strategies from a firm level to a business ecosystem level, the study investigates the issue of platform strategy through three views, respectively technology, application and organisation. As a result, a general evolutional pattern of platform strategy along the BELC is identified, where an open strategy emerges at the birth and expansion phases, then a dominating strategy rises at the authority phase, and finally the opportunistic strategy takes over at the renewal phase. This paper connects the core firms in the business ecosystem with the evolutionary platform strategies. Copyright © 2013 Inderscience Enterprises Ltd.