Question

Explain Briefly about Technology Managment in 400 words

Answer 1

Technology Management

Technology can be described as the art of logic. Businesses can leverage technology to become more efficient, competitive, and innovative and drive growth. The basis of technology management is to help organizations integrate technology in management to develop competitive advantage. Technology management is comparatively a difficult field to manage as technologies keeps on changing and is unpredictable. It is a set of policies and practices that make use of technology to build, maintain and improve the processes and products within the organizations by making use of knowledge and technical know-how.

Technology management is weaving engineering, management and science disciplines together as defined by U.S. national Research council. This discipline can help firms in accomplishing their goals and are most effective when they are aligned to the strategy opted by the firm. The idea of introducing technology management by firms is to be able to generate wealth in the most efficient and cost effective way. A manger dealing with technology needs to have whole understanding of life cycle of technology products. In firms, if technology is integrated with R&D, it will catalyze R&D to achieve faster rates.

The different dimensions of technology management are government, organization and individual level.

Nation and firms can rely on technology management to propel growth, raise standard of living, improve quality of life etc. Keeping in mind various factors associated with Technology management, a new career was born. Educational programs around this field have started booming. Technology management programs are available since 1980s. Most of these programs were started by engineering or business schools. The usual programs in business and engineering are integrated with technology wherein they develop curriculum on how technology can improve the traditional management strategy and decisions. Technology education is integrated with courses in Human resource management, operations, and supply chain etc. In the 2000s the shift from technology management education moved to a more refined version “Innovation and leadership”.

The major areas where technology management can play a role are:

• Technology to monitor forecast and assess demand
• Technology for acquisition, retention and development of employees
• Management of Intellectual Property
• Innovation, Research and Development
• Product Development, production, standard and Quality
• Sustainable Development
• Technology transfer
• Strategy Management

Technology management plays an important role in human resource development effort. It has to be introduced from the grass root level i.e. education which will make it easier to implement in national policies and agenda of countries.