Strategic Management of Technology
In a progressively complicated economic and social environment, high technology companies are dealing with fast-track technological development and global technology-based competition. In view of the significant role of technology in a competitive environment, strategic technology management is critical for organizations. In order to achieve enduring success, companies should acquire and sustain their technological capabilities to generate internal and external effects within an uncertain socio-economic demand. The research is aimed to present in the context of new auto technology with a view to achieve understanding of strategic management of innovative technology. The chosen company and the model vehicle is Toyota Mirai HFC. Hydrogen fuel cell vehicles seem to be the substitute for more than one billion cars on the road. Once it is successfully launched in the commercial market. These vehicles work with the power generated as a result of a reaction between hydrogen and oxygen in the fuel cell, which produces the energy for the vehicle with water as the only residue. In light with the recent environmental issues challenging auto industry’s development, increases in price of traditional fuel (as gasoline, etc.), regulatory control in all developed or developing nations, the efforts are on the technology across industry around the globe. Once technology is conceived for creating potential business opportunity, the immediate challenge is to make the technologist conversant with the strategy, which is a key element to turn any development into commercially viable business. The overall objective of this paper is to explain strategy management of Toyota Mirai Hydrogen fuel cells vehicles covering analyses of the structure and competitive dynamics of the industry using Porter’s five-force Analysis, SWOT Analysis, PEST Analysis, Toyota’s Innovation Strategy for Environmental Technology, Competitive Strategy for competitive advantage, and international & global strategy Analysis for Hydrogen fuel cells technology.
Poocharat, Sudarat, "Hydrogen Fuel Cells Vehicle Technology’s Strategy of Toyota Mirai" (2015). Engineering and Technology Management Student Projects. 187.