BENEFITING FROM EXTERNAL SOURCES OF TECHNOLOGY

Almost all companies with significant internal R&D activities are maki ng deliberate efforts to locate, acquire and exploit technology from e xternal sources. Such technology sourcing activities are expected to g row and become more systematic. A wide variety of approaches are used to organize these sourcing efforts. Considerable success is reported i n finding specific targeted technologies. Regardless of the organizati onal approach used, it is essential to have clear strategic directions , long-term commitment, and people with appropriate skills and experie nce. The primary locus of problems is not in finding and acquiring the technology but in successfully nurturing and exploiting it after it h as been acquired.