**5. Part IV: conclusion**

It is important to realize that the contemporary world faces rapidly changing, fast pace dynamic scenario on all fronts. Technology Strategy has to be nimble and *Technology Strategy Formulation for Global Corporations DOI: http://dx.doi.org/10.5772/intechopen.109338*

flexible to match the dynamism of businesses, which by itself depends on the ever transforming environment. In the past the national companies could rely on three known aspects of technical, operational and economic considerations. However, the spread of global companies around the world in multiple countries brought in focus the socio-political aspects of such a company. Add to it the ever changing dynamic geopolitical situation riddled with supply issues, state conflicts, inflation and nationalization policies. The way forward here is to strengthen the strategy formulation process, rather than focusing on strategy alone. It needs to be seen as a continuous process instead of an event or an output. One needs to follow the robust technology formulation process suggested here.

### **Contribution to body of knowledge**

This chapter identifies the challenges faced in a multinational company. The characteristics of a global company spread in multiple countries and cultures are very different from that of a national company. One needs a practical and pragmatic approach to ensure that technology strategy so developed is executed on the ground. Ashurst et al. [21] discusses practice orientation that relates to informal organization accentuated by knowledge and behaviors of individuals. Anticipating responses is key to a good strategy, ultimately a technology strategy needs to be agreeable not necessarily ideal in today's multilateral world order. Whittington [22] advocates shift to practice perspective as key, elaborating that the manager has to develop competence of strategist. Similarly, Sminia [23] discusses the process of layered discussion. It is understanding of people interests and impact of technology strategy on lives of people around the globe that brings the strategy deployment possible. Therefore, key is to orient oneself to practice rather than ideal in the early stages of strategy development. This chapter highlights the practice of being attentive to the socio-political factors in multinational company.
