The Strategic Management of Technology: a New Wave of Market‐led Pragmatism or a Return to Product Orientation?

The rapid technological change of recent years has played a major role in changing the structure of established industries as well as creating new industries. It has elevated the management of technology into the arena of strategic issues. This paper reviews the work of authors who argue that technology management must be given a strategic role in the firm. It does not take issue with the general tenor of their views; but, it counsels caution on the grounds that a focus on technology supply may lead to a product orientation which subverts the influence of customer considerations in strategy making. The author argues for an approach to the strategic management of technology that integrates the technology supply and technology demand perspectives. Descriptive guidelines are developed for an integrative framework by means of which technology strategy can be formulated.