Corporate strategy vs tech strategy: is it all the same thing?
We’ve heard it said many times that “every company is a technology company these days”.Though I would agree with this statement to an extent, you only have to take a look at the high street to see that while technology is a source of competitive advantage for some brands, for others it poses a significant threat to their survival.
From tech benefits to business strategy
A big trend I am seeing is that corporate strategy and technology strategy are merging like never before.Fifteen years ago, much of Wildfire’s PR activities for our tech clients centred around product PR, extolling the virtues of a company’s tech capabilities. You were lucky if you could get the client to talk about the technology in terms of business benefits, with many preferring to talk about the features of the tech itself.Fast forward to 2021 and the Wildfire client services team are being asked to use their technology expertise to create and deliver brand storytelling platforms, sustainability and purpose positioning, and digital executive programmes.The narrative goes way beyond technology benefits to centre on the strategic business advantages that clients offer as tech companies.We’re also increasingly being approached by companies that don’t have a tech product or service to offer, but where technology is intrinsically woven into their business. These brands are keen to show how they’re using tech in strategic and innovative ways to attract talented developers to their business.
Tech is king
My team shared a news story recently about ‘Covid-killing UV tech’, which got me thinking about technology as a viable alternative to medicine in treating some human diseases.I guess there’s an argument to say that it’s largely down to technology that companies such as AstraZeneca and Pfizer can create medical responses to a coronavirus so quickly. But for tech to replace medicine as a solution in its entirety...(I suspect I’m playing catch-up) that’s mind-blowing isn’t it?
Winners and losers
I love working in a tech-focused job and I’m increasingly aware of its impact on our everyday lives.As a woman of a certain age, I do worry that the high street will never be the same. As a kid, a trip to a department store like Debenhams was a coveted treat. Hearing it has been bought by an online retailer made me want to ‘Boohoo’…and not in a good way.However, it’s critical that stories about companies using technology as a strategic advantage continue to be communicated as widely possible. I find it utterly amazing to consider how my kids will experience technology over future generations. That gives me some much-needed hope.For more on interesting tech innovations, check out this blog by Sammy Browning.