Benchmarking the “external technology watching” process: Chevron's experience

✍ Scribed by Derek L. Ransley

• Book ID: 102072354
• Publisher: John Wiley and Sons
• Year: 1996
• Weight: 455 KB
• Volume: 7
• Category: Article
• ISSN: 1058-0247
• DOI: 10.1002/cir.3880070307

✦ Synopsis

External Technology Watch," or ETW, is Chevron's term for monitoring how emerging technologies can impact the company. Traditionally, as with other companies, Chevron's long-range research efforts were focused on serving the research needs of existing business units. The additional efforts of its technology awareness committee are geared toward monitoring technologies not now within any business unit's planning horizons. A benchmarking study comparing technology monitoring at several companies showed the importance of paying attention to the conrext within which ETW is carried out. Chief technology officers, or senior technology committees, can help position efforts to better meet the CEO's initiatives. Identlfylng enabling technologies that support core competencies was a key issue, as was having formalized E T W processes linked to mainstream R&D activities, including joint activities with universities, government labs, and other companies.