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The explosion in the literature in the area of technology management indicates a need for some integration of concepts and issues. This article defines and discusses a Strategic Technology Management System (STMS), which meets this need. The STMS delineates a systems life cycle approach to technology management, which includes eight phases: creation, monitoring, assessment, transfer, acceptance, utilization, maturity, and decline. Each phase includes critical issues that must be managed in order for a firm to successfully control its product/service and process technology projects and programs. These critical issues are defined, and a number of industry examples are given to substantiate the STMS life cycle concept. Finally, several key performance factors for STMSs are discussed.
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Bursic et al. (1991) studied this question.
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