SIGNIFICANT ISSUES FOR THE FUTURE OF PRODUCT INNOVATION

The value of a technology strategy has been increasingly discussed by R&D personnel and those involved in product development and business p lanning efforts. In this issue Albert Rubenstein and Americo Albala el evate this discussion by showing the importance of preparing a firm to compete by stressing the development of important, relevant technolog ies. Discovery and development must be channeled into areas that will be needed to support business initiatives likely to occur in the futur e. Albala stresses the importance Of this change for the development o f economies in nations that have been disappointed by the lack of succ ess of importing technologies from more developed nations, while Ruben stein maintains that the pace of marketplace change requires a technol ogy strategy in order to reduce the misapplication of scarce resources within the firm and the possibility of being blindsided by competitiv e developments. These essays continue a year-long series of contributi ons that the editor-in-chief solicited from members of the editorial b oard. Members were asked to reflect upon changes and opportunities tha t they see influencing our profession during the coming decade. Both o f these short essays are designed to introduce new perspectives. It is not essential that you agree with the recommendations, but we hope th at you are stimulated as you reflect on the issues they raise.