PROGRAM MBA - SEMESTER - IV

SUBJECT CODE & NAME OM0018 TECHNOLOGY

MANAGEMENT
1.
Describe the concept of technology
management. Explain the various stages of
strategic technology management system (STMS).
Technology Management
Technology management can be defined as a process of planning,
organising, selecting, and controlling technological resources to maintain or
increase the capability and efficiency of an organisation. According to
the Association of Technology Management and Applied Engineering,
technology management is, the field concerned with the supervision of
personnel across the technical spectrum and a wide variety of complex
technological systems. Therefore, we can see that technology
management is one of the most important factors for the success of
an organisation. Technological innovations have

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2.
Define technological innovation. Explain the
different types of innovation on the basis of
flexibility and in terms of offerings.

Technological Innovation
Innovation is the change that creates a new dimension of performance
Peter Drucker.
According to the Department of Trade and Industry, UK, innovation refers to
the successful exploitation of new ideas. In simple words, innovation
refers to the invention and successful commercial exploitation of their
invention.
Technological innovation is one of the ways of gaining competitive
advantage and survival in the cutthroat corporate world. There are
numerous cases in which a particular organisation gained a significant edge
over other organisations with the help of

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3.
Briefly explain the
technology management.

guiding

principles

of

Guiding Principles of Technology Management

Principles act as a guiding force in the management of any operation. For
instance, to execute the marketing activities of an organisation, certain
principles should be followed. These principles are value creation, fulfillment
of consumer needs, etc. Similarly, a new technology paradigm requires
definite guiding principles. Betz et al. provide the following eight
guiding principles of managing technology, as below:Value Creation: It should be the main intention of the new
technology paradigm of an organisation. Value creation creates demand

for the products and services, which in turn increases the profitability
of an organisation. For example, various new operating systems of

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4. With a neat diagram, explain the various stages
of technology life cycle.
Market Growth and Technology Life Cycle
Income is generated only when a technology reaches the market. A
technology that is still under development cannot produce any income.
A technology needs to penetrate the market to earn the maximum gain.
As a technology matures, and its adoption rate increases, the market
return of the technology also increases. The market growth pattern is
different in different stages of the technology life cycle. Below figure shows
market growth patterns in different stages of technology progress:

In the above figure, xaxis represents time, and y-axis represents the
market volume expected. Now, let us briefly discuss the six stages.

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5. a. Define strategy. Explain the different

approaches to strategic decision making.
b. Describe the different issues in strategic
decision making.
Answer: - 5 (a) Defining Strategy
Igor Ansoff, known as the father of strategic management, established the
concept of strategy in the 1960s. A strategy can be defined as a plan
of action to achieve a set of pre-determined and specific goals. The
word strategy originated from the Greek word strategia , meaning a
military general. There is no definite meaning given to strategy, as various
authors have defined strategy in different ways.
According to Henry Mintzberg,
different ways, such as:

People

use

strategy

in

several

Strategy is a plan, a how, a means of getting from here to there.

Strategy is a pattern in actions over time; for example, a company that
regularly markets very expensive products is using a high end
strategy.

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6. a. Explain the impact of technological change

on organisational productivity
b. Explain the impact of technological change on
education and knowledge acquisition
Answer: - 6 (a) : - Impact of Technological Change on Organisational
Productivity
Productivity refers to the amount of output at a given amount of
input. Technological change is part of the fundamental factors that can
permanently improve organisational productivity. It is a commonly accepted
fact that better tools and techniques yield more output at lower input.
In addition, output increases when manual processes are replaced by
machines. Therefore, as you can see, improvement in technology helps
organisations in a number of ways. Let us consider an example. When
the State Bank of India was finding it difficult to compete with private
banks, it brought revolutionary technological changes in

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