Extracting the key capabilities for technology exploitation using a joint analysis of internal and external environments

Abstract

Since key technologies have become one of the core competencies in enterprises, a variety of technology strategies have appeared. However during the technology exploitation strategy process, companies often have to deal with practical problem. The problem lies in identifying which capabilities need to be concentrated upon to gain a future competitive advantage. Because of rapid changes to business environments, the most valuable and necessary capabilities for companies are also changing. Therefore, companies should anticipate the evolution of environment and optimize the balance between the demands of the environment and the organization’s capabilities. This paper suggests a methodology to identify the most important future events and to extract the key capabilities needed in a future environment for technology exploitation.It can help investment decision to develop capabilities according to the priority of capabilities and select the appropriate alternative for technology exploitation. In the case study, this methodology was applied to identify the most important events and extract the key capabilities of a company for smart grid technology exploitation.