TECHNOLOGY MANAGEMENT

TECHNOLOGY MANAGEMENT MODULE 1
LECTURE NOTES.
TECHNOLOGY DEFINITION:
· The branch of knowledge that deals with industrial arts, science and engineering.
· The terminology of an art or science.
· A technology process, invention, method.
TECHNOLOGY MANAGEMENT DEFINITION:
It is the capacity of a firm, a group or society to master management of the factors that condition technical change so as to improve its economic, social and cultural environment and wealth.
Management of technology links engineering, science and management principle to plan to develop and to implement technological capabilities to shape and accomplish strategic and operational goals of an organization.
LEVELS OF DEVELOPMENT:
· Individuals develop ideas, theories or perspectives tat are known to them or groups which they belong. This knowledge is derived from their experiences or imagination.
· The second level consists of tacit knowledge that is verified and codified through scientific process of experimentation.
· Finally the level of development i.e. knowledge is put into use----- Physically embodied in products and services.

Idea generation

Idea documentation and Evaluation within
Each functional group

Idea evaluation and recommendation by
Category Review teams (marketing, sales, operations etc)

Multi-dimensional analysis (Break down of projects into
High, medium and low risk, Short medium and long term,
Low medium and high impact)

Portfolio Balance analysis By Senior review team (chief
Operating officer)
Gap identification and closure planning

Process improvements analysis and planning
For the next cycle.

CHARACTERISTICS OF TECHNOLOGY:
· Opportunity: Tech. Development takes place when human-beings perceive an opportunity for improvement due to economic reasons.
· Appropriability: Tech. development takes place due to economic motives, individuals will pursue development when there is a reasonable assurance that their fruitful work will flow back to developers.
· Transferability: Tech. development takes place when there is smooth knowledge transfer.
· Resources: Tech. development takes place when there is consumption of resources such as money, time, people, and collateral assets.

GROWTH/ EVOLUTION OF TECHNOLOGIES:

1950-------------à 1970------------------à 1980----------------------------------------à 1990’s

R&D -----------à Management---------à Technology ----------------------------àValue based
Management of innovation strategy Management

Era of plentiful --------------------à ß------------------------------- ------------Era of
Resources Accountability