Technology And Organisation Structure

IMPORTANCE OF TECHNOLOGY MANAGEMENT:

Technology and management of technology are critical for an enterprise for its successful operation on long-term basis. There are three basic considerations for starting any new firm based on technological innovation.
a) The idea for a technological innovation:
b) A potential market:
c) Team work in both technological and business enterprise:
The idea of a technological innovation should be based with the potential market and technology team should closely interact with the rest of divisions of the enterprise leading to successful logical conclusions in terms of products/processes to be developed as per the objectives set in the beginning. This strategy is reflected in the form of a “Business Plan” of and enterprise which needs to be prepared and approved before starting the new business.
The Business Plan: It is a strategic summary of new venture. Its purposes are:
i) To ensure, by clear focus in strategy, that important points necessary to the success of any business venture have been considered.
ii) To persuade financial investors to invest in the new venture. A new venture business plan could include the following :
a) Current business status
· Business objectives
· Management and organization
b) Products or Services
· Product description
· Technological background
· Competition
Benefits to customers
· Market
· Marketing strategy
c) Capitalization
· Capital requirements
· Financial forecasts
· Benefits to investors
Technology and Competition:
If technology is to give a competitive edge, management must manage it as a part of the business system. Technological innovation can be integrated with production, marketing, finance and personnel into a balanced business system. Managing technology essentially involves four central concepts:
a) New Ventures
b) Innovation
c) Research
d) Research Infrastructure
New Ventures: Ideas central to new venture are concerned with entrepreneurial management, overall business plan, and the dynamics of organizational growth.
Innovation: Ideas central to innovation include concepts such as types of innovation, processes of innovation, the technology S-curve, technology life cycle, economic life cycles, sources of innovation, business opportunities in a technological system, marketing and new technology, corporate diversification through new venture, and technology in manufacturing strategies.
Research: Technological change is new knowledge about what things to produce and how to produce them; and in the corporation, new knowledge often comes from corporate research. Research management includes organization of research, project management, research personnel, and corporate research strategy.
Research Infrastructure : With the expansion and increase of intensity of international competition, the R&D infrastructure of a nation plays a critical role in economic competition.
Managing technology is taking risks in novel products and developing new markets. In the world of rapid technological progress and changing competitive environments and market needs, firms must pay increasing attention to developing new innovative products for domestic and world markets, and therefore an efficient technology management system is important.