The paper gives several arguments in favour of a technology strategy, which may focus on leadership, 'follow-the-leader' or 'me-too' behaviour. In the external environment, technology is advancing faster than ever before, resulting in drastically reduced response times. The innovators and the early adopters benefit from the new technologies. For the late adopters and the laggards it may be a question of survival. In Japan, new technology has become an important competitive weapon. Western firms must meet this challenge with proper strategies. The internal environment, which is characterised by resistance to change, hampers the utilization of new technologies. The trend towards more market orientation has the same effect. With decentralized decision making, the application of new technologies is dependent on the knowledge and the initiative of individuals, which vary considerably. Strategies for development of the technology may cover products, production processes and information systems.
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