Strategic management in technology–intensive industries

Abstract

This paper is based on an exploratory study of 12 Western European companies in four technology–intensive industries: semiconductors, photovoltaics, robotics and pharmaceuticals. The study revealed several common characteristics among successful companies in those dynamic industrial settings. After defining 'technology–intensive' industries, the authors address the following aspects: the critical success factors in the industries; the importance of a clear definition of a company's domain; the weight of inter–organizational strategies; the need for multi–functional collaboration; the nature of strategic decision–making; and the importance of human resource management.