Technology Strategy

Technology Strategy is to start with the resources the company has including its people, thus incorporating successfully technology planning into the business environment.  Plan the technology that will make the resources and people more effective and efficient, and then acquire and install the technology.  A well thought-out plan should guide the process of defining what is necessary to accomplish and not what is to be bought.

Some guidelines:

• List out the equipment the company is presently using, identifying the various types and their ages.  Find out the assets that are old and reaching the end of their usefulness.
• Have a brainstorming session with employees at all levels to identify their technology ideas, problems and needs.  The staff know where the problem lies, which software is obsolete, broken, troublesome and often leads to complaints.  They can identify their needs, even if they do not know the specific technology to name it.  Clients and vendors would have suggested enhancement, but that would not have reached the ears of the management.  Probably a vendor might have advised a newer version of software or a new product.
• From the above information gained, the company can decide the technology vision of what to have, identify the goals for a five-year period or more, but be realistic to focus on what can be achieved in a year or two.  Once the priorities are set for the two-year period about the goals to be achieved, then define the objectives that will move the business towards the vision.
• Determine the feasibility of the plans.  Next assess how the new technology will fit with the existing software and hardware the company already has.  Projects have to be defined and budgets and timeline established for each project.  Projects are to be prioritized and then include a mechanism for prioritizing unplanned work.
• Business has to determine the `return on investment `(ROI).  Cost and benefits have to be calculated for the company and to ensure the management is committed to the entire period and costs of the project.

Software packages and templates can be purchased that will guide the development of the technology plan.  Many technology strategy plans are available on the internet to develop our own version.

Consultants can also help in the technical analysis, research into new products or new versions availability, their pricing and in discussions with the staff.  Consultants are really useful especially when the management or the employees are technically inadequate in their knowledge.       

Questions:

• What do you understand by technology strategy?
• Describe two guidelines in implementation of technology strategy.