Technology Roadmapping

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TECHNOLOGY ROADMAPPING

Sravanthi Gangula
E-mail: gasr0901@stcloudstate.edu

ABSTRACT
In this competitive world it’s hard to enable the development and manufacture innovative products. Technology roadmapping is a strategic decision-making technique which is applied to a new product, process and technology to maintain business accordance which meets the companies objectives. This paper firstly describes the definition of technology roadmapping and, its advantages and disadvantages. Secondly, this paper illustrates how technology roadmapping is an approach to innovation and its relation to technology management. Finally, the paper discusses the steps involved in technology roadmap.

CONTENTS

1. INTRODUCTION

2. ADVANTAGES AND DISADVANTAGES

3. TECHNOLOGY ROADMAPPING - APPROACH TO INNOVATION

4. IN RELATION TO TECHNOLOGY MANAGEMENT

5. STEPS INVOLVED IN THIS PROCESS

6. CONCLUSION

7. REFERENCES

1. INTRODUCTION
A technology roadmapping is a development plan that matches company’s goals with specific technology solutions to help meet those goals. It is a road map plan that applies to a new product or process or to an emerging technology to maintain a market position and business performance in accordance with the company’s objectives [6]. Technology roadmapping supports innovation planning whether the strategies are for open innovation, purely internal or a combination of these. Open innovation networks find that a technology roadmap aids communication and priority definition as multiple parties consider and discuss their roles and priorities in product development innovation. Technology roadmapping is usually a collaborative foresight process that solicits opinions from various experts to create a best guess of a development timeline for a particular technology.  Technology roadmapping is a usually undertaken by consultants to large companies interested in the future of technology in their market niche. Few companies in US are using technology roadmapping as a planning tool. Technology roadmapping is driven by a need [1].

2. ADVANTAGES AND DISADVANTAGES
The main advantage is it makes the companies to invest in a healthier way to reduce the gaps and identify critical technologies, and to determine obstacles in R&D investments and opportunities for a particular technology or technology application [1]. R&D can be influenced within themselves else tying up with alliance. It helps companies to set the needs and technology to satisfy them. Experts can estimate the future developments and coordinate them. This can be focused on certain company or entire industry. Technology roadmapping is a marketing tool; we can show the customers that the company understands their needs. It increases innovation success thus we can reduce a huge amount of money spend on R&D. It allows the company to react to the growing trend or technology and react suitably. Roadmapping helps us to opt one single or different path or alternate depending on our need so that we can have a high return. Helps the company to reveal or overcome weakness before time. Companies can track their goals or keep track of them steadily. Documentation of road mapping helps intensively for future consideration and assumptions. A recent survey of 2000 UK manufacturing firms indicates that about 10% of companies (mostly large) have applied the technology roadmapping approach, with approximately 80% of those companies either using the technique more than once, or on an ongoing basis [4]. Roadmapping needs certain skills and knowledge along with interpersonal and group managing skills (decision making skills) [1]. Thus it enables leadership to both giver and receiver.

3. TECHNOLOGY ROADMAPPING - APPROACH TO INNOVATION
Productivity of any company increases when it technological innovation is coupled with business practices. Innovation helps the companies to adapt with marketing trends, regulations,...
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