Managing technology development in a changing business environment

Major societal and industry changes over the last four decades have influenced the management of technology in the minerals industry. From the authors' experiences in both private and public sector R&D, the paper analyzes the range of strategic and structural changes and provides examples of some key technology delivery responses. For those charged with managing technology, the two key challenges facing them over the next decade are (1) moving technology development from a cost focus to a value focus (that is, from "how much long-term research can we afford?" to "identifying and capturing the value created from R&D") and (2) the recruitment and retention of key talent.