Technology Planning–A Process for Tying Technology Development to Business Objectives

A technology planning process has been developed which can help a technology-based company sort through a myriad possible product or process technologies and arrive at a well-defined technological direction. This process encompasses the business strategy of a company and requires definition of a consistent technology strategy, product and/or process needs and candidate satisfiers, analysis of the selected candidate projects, and concise communication of the company's technological direction. Depending on competitive and business environments, communication of a company's specific directions to its suppliers and customers might be appropriate.