Technology
Technology in the corporate environment refers to the
strategic use of technical means, systems, and digital solutions to support,
optimize, and enhance business processes, products, and services.
The technology radar is a tool for assessing the current situation within the company, including product, production, environmental, and ICT technologies. The assessment is based on the time horizon (short-term, medium-term, long-term), the business relevance (optional, important, critical), and the degree of maturity (discovered, growing, established, declining, obsolete) of technology areas like
- Nano/ Matter
- Electronic/Electrical engineering
- Military
- Nutrition
- Environment
- Traffic/ mobility
- IT
- Communication
- Bio/ Medical
- Production
The primary purpose of technology in business is to enhance companies' efficiency, competitiveness, and innovation.
- Increasing efficiency
Technology automates processes, reduces manual work, and saves time and costs - for example, through ERP systems, cloud services, or AI-supported analyses.
- Competitive advantage
Companies that utilize state-of-the-art technologies can respond more quickly to market changes, offer superior products, and develop innovative business models.
- Data analysis and decision-making
With the help of big data, business intelligence, and AI, companies can make informed decisions, better understand customer needs, and recognize trends at an early stage.
- Communication and collaboration
Digital tools enhance internal communication and facilitate global collaboration, regardless of time and place.
- Improve customer experience
Technologies such as chatbots, personalized recommendations, or digital services create a better, more personalized customer experience.
- Promoting innovation
Technology opens up new opportunities - from new products and digital platforms to disruptive business models.
In short, technology plays a crucial role in optimizing business processes, enhancing customer service, and ensuring long-term success.