Strategic management of technology objectives in enterprise practice - a conceptual framework

Rapid changes in economical environment and in technology induce major challenges for companies to strategically manage their technological capabilities for sustained competitiveness. The field of strategic management of technology is exceptionally complex, and there exist no commonly agreed frameworks nor established practices. In this paper the objectives elements of strategic management of technology in a conceptual framework are presented. The framework content is based on enterprise practice and its theoretical model is derived from integrated management theory. The classified objectives elements comply with conceptions on strategic management and reflect the need of continuous transformation of company's offering business models in a fiercely competitive environment. The framework with its elements classification provides structure and clarity and it is useful for constructing strategic management of technology practices in enterprises. The framework is also suggested to provide frame of reference for scholars for further elaboration of the field.