Technology CoE

There are good economic cycle periods and the bad ones. Similarly there are technology cycles. Like when a new technology is introduced in the market and especially if it is a radical new version then it is damn difficult to find skilled knowledge workers who can disseminate and deliver the technological processes to new products. So what is the solution.

The solution is to set up a technological CoE ( Centre Of Excellence ). This centre can be used to have a minimum of 15-25 people who develop organisation repatoire of best practices and processes to be used for scaling the product development. When skill repository is developed fully then you can train more people on the same technology and set up a full fledged profit centre around the technology. Although the CoE would first be just a cost centre but later it will become a source of business growth and cash revenues.

Also you could milk the concept further by setting up a customer centric CoE which could be used to create a interface for customers to excel at their business by outsourcing their technical requirements.