It is clear that throughout the 1980s, competitive advantage, new‐product development, new markets, productivity and profitability will be tied directly to technology. Advances on the technology front are revolutionizing both mature and high‐technology industries, radically altering traditional business strategy and triggering dramatic shifts in global market share. Traditional industry leaders are already reeling from the impact of unprecedented global competition, as newly emerged world‐class competitors outperform them, as once clearcut industry lines are blurred, and as government‐business alliances proliferate.