It is not sufficient for companies to only develop products that meet the needs of individual areas. Not only do companies have to harness the benefits of technical investment accrued through the economic development of each country and retain talented personnel, they also have to keep a constant watch on the technical revolution that is taking place around the world. Companies need to keep up-to-date on the new intangible ideas and knowhow being continually developed around the world. This knowhow needs to be harnessed to produce tangible products, services and manufacturing process efficiencies. Companies that can successfully accomplish these tasks are the companies that will succeed in global competition. How should companies approach this task? When trying to develop new products, they must begin by studying and analyzing market conditions including the desired region of investment and prospective customers as well as a competitive environment and the company's own capabilities. Only then can a company determine the product concepts and the required technological frameworks. Companies must determine how to allocate their investments and divide responsibilities in the organization while gaining a deeper understanding of the company's technical strengths and forming the required vision of a product to be rolled out in new target areas. Global companies handle a diverse range of products and work in a range of different technical fields. It is important for them to appropriately allocate capital and human resources. According to previous research, there is no significant difference between Western and Japanese companies’ approach to the issue of allocating resources to their own in-house technology and preparing products for market launch. However, there are major differences in the process of generating ideas, involving external parties, and identifying the seeds of product development. Western companies saw the need to strengthen upstream processes in product development. For example IBM is implementing an organized, company-wide effort to observe future global changes. 3M have also put in place organizational structures that emphasize ^the technology-based idea exchange. However, improving in-house technology is not the only aspect of R&D. How should ideas and knowledge be gathered from parties inside and outside the company? It is important for companies to revise their definition of development and build organizational structures that can complete globally. How should companies approach the issue of managing technology in order to succeed in the global marketplace? Experts from Arthur D. Little, the world‘s first management consulting company, which has been involved in resolving technical managerial problems since its foundation in 1886, address the issue.