When we think technology and business, we naturally think products. But it is not always so.
I recently met a friend and we were discussing venture capital and the state of commercialization in Canada for tech companies. Part of the conversation stuck with me - every company is a tech company to some degree.
Technology is know-how and every company must have some special processes, knowledge and capabilities that make them unique in the market. This technology usually ends up in the proceses and data stored in the IT. Even if the provision of the IT services is outsourced, the data and processes still are part of the core competence of the company.
The technology, then, can be any part of the business - logistics, business planning, financial wizardry, marketing, partnerships, … as well as product related.
While this may be a semantic argument about the meaning of the word, it is an interesting point for all those of you who think you aren’t running a tech company.
