A Comprehensive Model for Socio-economic Technology Analysis and Evaluation

Successful innovation not only requires valuable new ideas but also their successful implementation into the market place in the form of resulting new products or processes. This diffusion is fuelled by technology acquisition decisions on the company level. The goal of this paper is to develop a conceptual comprehensive managerial model for these decision processes. The model is developed and verified based on empirical data collected during a research project together with six European high-tech companies in the field of machine tools. The NanoSteel project deals with the industrialization and market introduction of a new machining technology consisting of ultrasonic assisted turning (UAT) with mono-crystalline diamond tools. The foundation for the developed model lies in a generic company model for organizational change. Relevant factors are distinguished to enable a thorough look at the process of technology assessment encompassing quantitative (financial and technological) and qualitative (intangible) benefits. Research results show that several aspects (e.g. functional, economical, social, environmental factors) have to be considered in order to develop specific managerial guidelines for this acquisition process for new technologies.