Assessment of technology factor in companies' business strategy with the use of sense and respond method

Abstract

The focus of this paper is to propose a method for prioritizing knowledge and technology factor in companies’ business strategy. The data has been gathered and analyzed from Malaysian-owned company of medium size type industry, employing around 250 employees and listed in the Malaysian Bourse Stock of Exchange, since 2000. Sense and respond model is used to determine competitive priorities of the firms. Then knowledge and technology part of sense and respond questionnaire is used to calculate the variability coefficient i.e. the uncertainty caused by technology and knowledge factor. The results show that the company is not leading in term of technology (spear head technology share is around 33%). Therefore, the enhancement of technology and knowledge to SCA values is not significantly seen in this study. The usage of the core technologies is around 41% and it might seem relatively enough. In terms of basic technology, while its share is the lowest (around 25%), it has the highest source of uncertainties among technology types. In this case, the proposed model helped to have a clear and precise improvement plan towards prioritizing technology and knowledge focus.