The focus of this Guide is innovation and technology.
With technology the primary driver of organisational innovation, the Guide will explore how to:
- leverage strategic change using innovation and technology; and
- combine technology strategy with business strategy.
Technology changes very quickly (so the innovations that produce advanced technology must develop quickly as well). For example, banking has been changed forever by the automated teller machine. Doctors can diagnose illness and perform operations remotely. Digital media is changing entertainment. We can purchase almost anything, from books to travel and even funerals, over the Internet. We can stay constantly in touch by mobile telephone. Just two decades ago, some of these capabilities were science fiction or were only available to a small section of the population.
Just as technology has changed people’s lives, it also changes the nature of business in many industries. Technology can provide an organisation with opportunities that may result in high levels of growth. For exactly the same reasons, it can also threaten the future of a business currently enjoying a strong industry position.
The Guide begins by exploring the concept of innovation, from where it is derived and its contribution to business success. We will then discuss the impact of technology in strategic change and the integration of technology development with generic strategies.
The Guide concludes with a short overview of the strategic management process and a discussion of what ‘effective strategic management’ will mean in the future.
The Guide is organised around the five priorities of helping you understand how to:
- incorporate innovation and its drivers into a technology strategy;
- plan the use of technology as a resource for innovation;
- explain how external changes in technology can impact on an organisation’s competitive position;
- formulate a technology strategy that is consistent with an overall competitive strategy; and
- identify the characteristics of strategically effective organisations of the future and the challenges facing strategic management.
Professionals Australia would like to acknowledge the assistance of Chifley Business School in producing this Guide. The Guide draws from Chifley Business School’s MBA, Graduate Diploma and Graduate Certificate content. For further information on courses, visit Chifley Business School or email firstname.lastname@example.org