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There has to be a portfolio strategy. You need aging products that require no investment but which will generate
cash to fund embryonic products. That's very hard to do and it's essential to have experienced management. One of the
pitfalls of many firms is that once they have succeeded in a certain product line, they try to develop a new product line
without continuing to improve the old one.
But developing second-generation products and getting them to market is becoming increasingly difficult. As
technologies grow more complex and new ones emerge, development costs are rising and product life cycles are short-
ening. The chances of generating enough funds from a first product to finance a second product are very slender.
Market-niche strategy
The situation is made even more difficult as the classic small high-tech company product – the personal computer
– increasingly becomes a "commodity" with little to distinguish it from similar products. To survive at all, high-tech
companies are becoming increasingly dependent on market-niche strategy.
With a glut of general-purpose computer systems on the market you have to make a market-niche selection to fill a
gap in special-purpose systems.
You have to draw up your marketing plan before your business plan and product development. A big mistake
many companies make is rushing to develop their product and only later starting to worry about the marketing.
Team play and delegation
In the early stages of a high-tech company, creativity is important. Next comes the leadership stage, in which the
company is driven by a charismatic, high-energy entrepreneur. Then routinely follows an autonomy crisis, in which the
individual no longer can make all the decisions. S/he has not built a team. Then s/he may be thrust aside and a more
professional manager brought in. This is the delegation phase.
Idiosyncratic management
Traditionally, the correct strategy for a startup firm that has successfully reached a certain size is to bring in pro-
fessional management. But finding a competent manager who understands technology is as hard as finding a technolo-
gist who can manage.
The traditional dichotomy between the scientist-innovator and businessperson may be a major stumbling block.
Yet, universities to this day frown on mixing science and commercial education, and the commercially oriented scientist
is still looked down on. Companies often have to conduct in-house training programmes to deal with the problem, train-
ing technical experts in commerce and commercial people in technology.
The killer
Successful companies stress the need for strong balance sheets and prudent financing. High-tech companies need
to be "loose" about such areas as technical creativity, new product development and marketing. But they must be "tight"
about management and financial control. The ratio should be around 20 % loose, and 80 % tight, too often it's the other
way round – and that's a killer.
T a s k 4. Food for thought.
Now check your memory; tick the correct answer. Should you hesitate refer to the previous text again.
1. A high-tech manager needs to have
a) both feet in the market place;
b) one foot in the lab and one foot in the marketplace.
2. Once you have succeeded in a certain product line
a) develop a new product line by dropping the old one;
b) continue to improve the old one.
3. A technology grows more complex, development costs are
a) decreasing;
b) rising.
4. The chances of generating enough funds from a first product to finance a second one are
a) good;
b) slender.
5. Market-niche strategy aims at
a) covering a wide range of products;
b) filling a gap in the market.
6. Put the stages of a high-tech company in the correct order
a) leadership stage;
b) delegation stage;
c) autonomy crisis;
d) creativity stage.
7. High-tech companies need to be loose about
t…….l c……..y but tight about m……..t and f…….l c…..l.
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