The business of technology. [Changes needed for investment in view of critical new world business pressure]
- Goldman Sachs and Co., New York, NY (United States)
Chief technology officers (CTOs) are the leaders of industrial research and development enterprises. To make those enterprises responsive to shifts in the business environment for new technology - shifts that have been substantial in recent years - CTOs must change the way they have historically done their work. Critical new pressures in the world business environment necessitate this change. In his view, the following four have been felt most strongly. (1) The need to demonstrate clear and definable economic value as a prerequisite of new investments; this shift results from the development of a market for corporate control, where businesses are moved through divestiture and acquisition to whatever parent company can draw from them the most economic value. (2) The continuing decentralization of business decision making; industrial enterprises have continued to rearrange themselves into smaller business units, each with most or all of the functional capabilities necessary for managers to execute their business plans with substantial flexibility in the choice of strategies for meeting performance goals. (3) Dramatically shorter product life cycles; this results from the increasing pace of technological change, the quick response to market opportunities made possible by computer-aided design and development capabilities and flexible manufacturing, and the use of rapid product proliferation. (4) Significantly increased dispersion of technology; this arises from the increasing complexity of new products, which depend on an ever-wider range of technologies; the growing number of high-technology startups and the expansion of university, industrial, and federal laboratories; and the globalization of all these sources of new technology.
- OSTI ID:
- 7254686
- Journal Information:
- Issues in Science and Technology; (United States), Vol. 8:4; ISSN 0748-5492
- Country of Publication:
- United States
- Language:
- English
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