Strategic Management of Technology
Strategic planning, Technology -- Management, Technology -- Economic aspects
Often management’s primary focus is with strategy concerning an industry or within a firm. Though both industry and internal analysis are essential, macro-environmental analysis is just as important and arguably essential over the coming decades. The era of constant growth in population, economies, resource utilization, and technological innovation is experiencing significant volatility and directional changes. The traditional mindset has assumed a ‘growth’ environment and most prevailing economic and social models are based on this assumption. This paradigm cannot continue given the current trajectory and will likely give way to an overarching slowdown or a collapse of the current order, forcing a macro-restructuring. This is a function of unsustainable debt levels, reduction in the highly skilled workforce as the population ages, overutilization of resources without corresponding advancement in resource technology, and a globally competitive and intertwined economy. It is believed that significant advancement in resource and information-based technology will not only be required, but essential for a functioning economy. To this end, the real and artificial forces acting on the macro-environment must be carefully considered for both established, and especially, new firms.
Jenson, Ryan M., "Using PESTEL to Evaluate the Macro-Environment and Outline Strategies for Competitive Advantage" (2012). Engineering and Technology Management Student Projects. 541.