2.3.4 Summary of Key Points

Technological capability is one of the key elements for a firm to be innovative and competitive. Technological capability is the indicator, which demonstrates the technical situation within the firm and simultaneously provides an overview of the technological components on the market, assesses their value, selects which specific technology is needed, uses it, adapts and improves it and in some cases highlights the need to develop customised technologies in-house. The substantial issue is the measurement of the technological capability in the firm. The Simple Questionnaire is a Technological Capability Audit Tool which helps determine the overall capability level, strengths and weaknesses in the firm.

In this component you learned what technology is, and how to determine a firm's technological capability using a Technological Capability Audit Tool. Now you are aware of how to ascertain your firm's overall capability level and technological strengths and weaknesses for further development of technological innovation. If you are interested in delving more deeply into the technological capabilities status of your firm, you are aware of where to find the more advanced Interview tool.