**A.1. Technology strategy**

**5. Implications**

**Factors Correlation with** 

104 Digital Transformation in Smart Manufacturing

Strategic R&D (TM) Yes (r = 0.34,

Key positioning (TS) Yes (r = 0.33,

**SRG**

p < 0.01)

p < 0.01)

**Table 1.** Strategic technology management factors contributing to success.

and performance.

**6. Conclusion**

This study has contributed to the discipline of STM and SM by investigating the nature of technology strategies applied in advanced manufacturing firms in an Eastern environment.

correlation with the growth rate

correlation with the growth rate

The firms that are extremely focused in placing emphasis on R&D and linking it with other business operations have a positive significant

The firms that are extremely focused in using technology as a key positioning factor in their strategy have a positive significant

The study has offered an approach to quantify the cumulative effect of STM application in SM

The results could be extremely useful to provide an insight to the national technology plan-

This study indicated that not all factors of strategic technology management applied in smart manufacturing would produce sales revenue growth. This has implications for the managers

Smart manufacturing alone will not be able to provide success in the performance of firms. It has been demonstrated based on the literature review, and an exclusive study carried to explore if strategic technology management factors rather technology alone (as is smart manufacturing) influence performance of advanced manufacturing firm. Although several factors were drawn up from this study, but only two factors contributed to the performance of such firms, and they were strategic R&D and key positioning. The strategic R&D factor demonstrates that the innovative use of technologies and new product designs can contribute to performance of firms. The key positioning factor accounts for good decision-making in terms of market positioning. The study also supports the viewpoint of Chand and Davis (in Rockwell Automation Report) [33] that smart manufacturing is not merely technology rather an integration of information, technology and human ingenuity. Since two factors in strategic technology management contributed to the growth of firms, it could be concluded that integration of both

ners of the influence of STM in smart manufacturing and the performance of firms.

**Result**

of firms and especially for those who are responsible for technology management.


Extraction method: principal component analysis.


Extraction method: principal component analysis.

**Total Percentage of variance**

 .642 4.012 87.189 .505 3.155 90.344 .358 2.237 92.582 .320 1.998 94.580 .259 1.619 96.199 .167 1.046 97.246 .150 .939 98.184 .116 .725 98.909 .060 .374 99.283 .052 .327 99.610 .033 .203 99.814 .030 .186 100.000

Technology acquisition within the firm .786

Market-driven programmes .692

R&D integrated programmes .867 R&D researchers empowered .905

Technology acquisition from outside firms within

Awareness of existing technologies .665 .658 Awareness of emerging technologies .650 .670 Awareness of innovative technologies .619 .689 Awareness of competing technologies .520 .746

Technology acquisition from laboratories & universities .570 .528

**Component Initial eigenvalues Extraction sums of squared loadings Rotation** 

**Total Percentage of variance**

Influence of Strategic Technology Management on Smart Manufacturing: The Concept of…

**Cumulative (%)**

Product-driven programmes .776 Formal planning processes .454 .455

**Component**

**1 2 3 4**

.738

**sums of squared loadingsa** 107

**Total**

**Cumulative (%)**

http://dx.doi.org/10.5772/intechopen.72184

**Component matrixa**

**Total variance explained**

the country
