Technology Management: Module1 Introduction

Definition of Technology
The branch of knowledge that deals with industrial arts, applied science, or engineering. The terminology of an art or science. A technological process, invention, method, or some ways in which a social group provides itself with the materials objects of their civilization.

Levels of Development
1. 2.

3.

Individuals develop ideas, theories, or perspectives. The second level, consists of tacit knowledge that is verified and codified through a scientific process of experimentation. Finally, there is a level of development where the knowledge is put to use.

Definition of technology focuses on knowledge at three levels:

TACIT
CODIFY VERIFY
SCIENCE FORMALIZED KNOWLEGE

DEVELOP
PHYSICALLY EMBODIED PRODUCTS AND PROCESSES

Characteristics of Technology
Opportunity 2. Appropriability 3. Transferability 4. Resources
1.

Definition of Management of Technology

Management of technology focuses on the principles of strategy and organization involved in technology choices, guided by the purpose of creating value for investors.

Purpose
ValueDriven

What

How

Technology Strategy

Organization and management

Technology Choices

Evolution of Management of Technology

1950 R& D Management 1970 Management of Innovation 1980 Technology Strategy 1990s Value-Based Management

Era of Plentified Resources Allocation of funds projects Scientists & engineers Leadership New venture divisions Innovations management Linking to business

Era of Accountability Broader vision of technology Outsourcing Tools to assess value Internal markets

Different organizational arrangements

R & D Manager

Chief Technology Officer

Role and Importance of Technology Management

Understand the value of certain technology for the organization. Identification of possible relevant technologies for the organization. Continuous development of technology. Value the customers.

Should be able to argue when to invest on technology development and when to withdraw.
Management of the use of technology for human advantage. Integrated planning, design, optimization, operation and control of technological products, processes and services.

Benefits or Scope of technology

Benefits of Technology in Healthcare Benefits of Technology in Education Benefits of Technology in Communication Benefits of Technology in Business

Two Complementary Perspectives in Management

Market- Based views Resources-Based views

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