In observing the technology used in your sector, you should consider the following points:

  • Production technology
    • Observe the trends in the development of process engineering. Being ahead of your competitors can be a decisive success factor for your company
    • Is it possible for you to innovate your processes or products while using the current production technology?
    • Can you automise or standardise production with the help of new technologies?
    • Do you undertake process control with the aid of computers?
  • Substitution technologies
    Substitution technologies are technologies that can replace other technologies in different sections and processes of your company (Hinterhuber 1996)
    • Is an existing substitution technology an innovation to the technology you are already employing in your processes?
    • What is the cost of the substitute technology when compared to your current technologies?
  • Product innovation
    • What are the development trends in product technology?
    • Is there further potential for product innovation?
  • Informatics and communications technology
    • Which communication technologies are necessary to help you stay competitive in the market?