CUED Publications database

Evaluating and communicating the value of technology: Concept and practice

Farrukh, C and Phaal, R and Mortara, L and Probert, D (2013) Evaluating and communicating the value of technology: Concept and practice. In: Strategic Planning Decisions in the High Tech Industry. UNSPECIFIED, pp. 181-201.

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Evaluating and communicating the value of technology are key considerations for successful innovation. The critical issue of how to evaluate technology as it progresses from exploratory to more mature forms is explored in this chapter, proposing an iterative approach that encourages the alignment of technology and commercial perspectives. Management tools and techniques that can support technology evaluation are discussed, shifting from more qualitative exploratory methods at the start, to more quantitative and analytical tools as developments mature towards commercialisation. Related to this is the other critical issue of how to more effectively communicate the potential value of technology to a wider group of stakeholders, including commercial functions, senior management, funding agencies and external partners. A 'technology marketing' process is proposed, to seek out and identify suitable application opportunities for a promising technology, and to engage with potential partners using a consultative sales framework. The technology evaluation and marketing processes are positioned against the wider backdrop of technology, application and market development and evolution, as an integrating framework. The practical relevance of the approach is illustrated with company case examples.

Item Type: Book Section
Divisions: Div E > Strategy and Policy
Depositing User: Cron Job
Date Deposited: 17 Jul 2017 19:45
Last Modified: 31 Aug 2021 07:15
DOI: 10.1007/978-1-4471-4887-6_10