Both U.S. commercial businesses and the military are increasingly dependent on technology for success and survival. In the age of smart factories and smart weapons, technological prowess is equally essential for success in the marketplace and on the battlefield. In the past, when American industry enjoyed a commanding lead over its international competitors, "spinoff" from military R & D and procurement to commercial applications was thought to be sufficient to ensure industrial leadership. But, as the authors explain, spinoff has never been an effective approach to enriching commercial technology; at best it is a weak and expensive substitute for more direct support of the commercial technology base. With defense budgets shrinking, and U.S. industry under siege by formidable foreign competitors, it is time to rethink the military-commercial relationship and define more realistic policies for government. Business leaders and policymakers must understand how technological innovation really works in both the commercial and defense sectors, and how each sector can best draw upon and support the other. To capture high-tech commercial markets and preserve defense capabilities, business and government will have to devise new approaches for managing a firm's technology strategy and new ideas for enhancing the government's partnership with private industry. This book, packed with data, case studies, and policy recommendations, offers fresh insights into the management of technology in the firm and new approaches to U.S. technology policy based on sound economics, practical management, and the challenges of global markets. It will be required reading for decision makers in industry and government, and for all those concerned with U.S. competitiveness.