How to Survive in an Environment of Technological Changes: A Sustainable Technology Strategy for SMEs

Technologies are a main source for the innovative evolvement of innovative products in small and medium enterprises (SME). In addition, the implementation of other technologies in the company can enable SMEs to address new application fields. If new technologies and their potential are identified and implemented into the company in a strategically convenient way, it can cope with the continuously growing requirements of the markets and participate in global economic growth. However, most SMEs do not examine strategic matters. The SMEs are not informed of or are scared by the laborious process behind such a strategy. In many instances, companies do not have a clearly enunciated corporate strategy or a vision of the future on which the technology strategy can be elaborated. This paper introduces a methodology for a sustainable technology strategy based on competence management through a technology-function matrix. The methodology targets SMEs and their specific conditions. Different benefits of the application of the methodology are presented within a use case.