It is in this context that technology can benefit business performance. The role of technology strategy in the development of business performance is analyzed in this study. The literature published on this subject is presented and critically discussed. Reference is made to the practical needs and implications of technology strategy as identified in Tesco and Waitrose, two major retailers in the British market. It is concluded that technology strategy can be used for supporting the growth of modern firms but only under the terms that it is carefully planned and monitored.
The management of technology in modern businesses has many different aspects. In order to identify the most appropriate technology management polices for firms in different industries it is necessary to understand the role of technology within organizations. Technology has been characterized as a ‘business asset’ (Watkins 10). despite common business assets, technology is difficult to be evaluated (Watkins 10). This difficulty results by the fact that a specific technological tool, for instance, machinery, can be evaluated by referring to its ‘acquisition cost, book value or replacement value’ (Watkins 11). One of the most important characteristics of technology is its ‘re-useability’ (Watkins 11), i.e. its potential to be used in several operational activities. The above issues need to be taken into consideration by managers of organizations that have to introduce a technology strategy that will respond to all organizational needs. Particular measures should be also taken for the ‘flow control’ (Watkins 11) of the technology used across the organization. The term ‘flow control’ refers to all the tasks in which a specific business (technological) asset can be involved, either directly or indirectly.