It includes concepts of Technology Management along with key concepts associated with Technology Management like technology forecasting, technology strategy, technology acquisition, technology audit, technology diffusion, technovation etc.
2. TECHNOLOGY: DEFINITIONS
• Oxford dictionary defines the
word “Technology” as: “The application of scientific
knowledge for practical purposes, especially in industry”.
• Collins Dictionary : “Technology” refers to “methods,
systems and devices which are the result of scientific
knowledge being used for practical purposes”.
3. How has technology changed our
lives?
• Improved Communication (Eg: Mobile Technology,
video/audio conferencing etc)
• Improved Information Access/Storage
• Improved Entertainment
• Improved Efficiency and Productivity
• Convenience of Travelling (Eg: google map, online
bookings etc)
• Improved Research (Eg: online survey, global reach etc)
• Encouraged Innovation and Creativity (Eg: Financial ,
Non-Financial rewards)
• Improved Lifestyle (Sophistication) etc.
4. Technology Management
In enterprise level, Technology Management is a field of
study that deals with
– development,
– planning,
– implementation and
– assessment of technological capabilities to shape and
accomplish the strategic and operational objectives of an
organization
5. • It is the integrated
– Planning
– Design
– Optimization
– Operation and
– Control
of technological products, processes and services in order
to use technology for organizational advantage
• It is a set of management disciplines that
– allows organizations to manage its technological
fundamentals to create competitive advantage.
6. Why Technology Management?
• Technology Creation/Development
• How can Technology be used to create business
opportunities?/ Roles of technology in today’s business world
• How to select better technological opportunities?
• How to integrate Technology strategy with business strategy?
• Issues related to Technology in organizations
• Understand organizational challenges that prevent
technologies from being successful
8. 1. Technology Forecasting
• Prediction of future characteristics of useful
technological machines, procedures or techniques –
Martino
• Intensity and timing of changes in technology –
Porter
• Group of techniques that predict the direction, rate,
implication and impact of technological advances –
Vanston
9. Objectives of
Technology Forecasting
• Anticipating emerging technological changes
• Projections of the rates at which new technologies will
replace old technologies
• Evaluation of present value of technology
• Identification and evaluation of new products or
processes that may present the organization with new
opportunities and threats
• Analysis of new technologies that might change
organizational strategies or operations
• Assistance in the management of technical R&D
10. Technology forecasting methods
• Expert Opinions
– Use of Delphi method to converge the common focus
• Trend Analysis
– Trace the time series data and identify the evolutionary
pattern and the driving forces
• Modeling
– Articulate a forecasting function composed of several
critical influencers (Eg: Regression Model)
• Scenario Analysis
– Preview possible events and evolution patterns
11. 2. Technology Strategy
Technology Strategy
– is the way/plan of attaining technological goals and
technological changes
– consists of objectives, principles and tactics relating to
use of technologies within a particular organization
– includes the formal vision that guide the acquisition,
allocation, and management of IT resources so it can
help fulfill the organizational objectives.
12. Factors influencing Technology
Strategy
• Sustainability of technological lead
– Can be sustained only if competitors cannot copy it
• First mover advantages
– Increased reputation, early profits, new sales, prevent
competition etc
• First mover disadvantages
– Cost of regulatory approvals, cost of educating buyers,
demand uncertainty, low cost imitation by
competitors, risk of technological discontinuities etc.
13. 3. Technology Portfolio
• Technologies used in a business have a life that must be
actively managed and carefully monitored to track their
versions and lifecycle
• Detail information on underlying technologies about
versions and lifecycle is the Technology Portfolio
• Timeline view of the Technology Portfolio can be used to
track their dates and thereafter create a demand to
upgrade or retire them
14. • If lifecycle stages are not tracked,
– there are risks where the vendor may not support them
any longer and
– the business applications that run on these technologies
are at risk
• Creating an inventory of all technologies used in the
enterprise helps to:
– Track the versions of the software and manufacturer
support dates for the software
– Set an internal lifecycle guidance for the software
– Assess risk in using outdated software
– Plan to retire them just like the applications they support,
at a definite date
– Support upgrade processes
15. 4. Technology Acquisition
• By Acquisition we mean :The purchase of one
corporation by another, through either the purchase of
its shares, or the purchase of its assets
• Technology Acquisition : Purchase of one corporation’s
technology and knowledge by another.
• The reasons behind technology acquisition
– Limited resources
– Time pressure
– Complementary assets
– Protecting image
– Diversification
– Supporting internal technologies
– Avoid development risks
16. 5. Technology Absorption
• Technology absorption refers to the
– acquisition,
– development,
– assimilation/integration, and
– utilization of technological knowledge and capability by a firm
from an external source.
• The transaction occurs between transferring and
receiving organizations.
17. 6. Technological diffusion
• process by which innovations (be they new products,
new processes or new management methods) spread
throughout large-scale and heterogeneous societies
• new technologies are adopted for use across individual
firms or households in a given market
• Whether diffusion occurs and the rate at which it occurs
is dependent on several factors including
– Relative advantages over existing technology,
– the nature and quality of the innovation,
– how information about the innovation is communicated,
and
– the characteristics of the population into which it is
introduced. Eg: ease of understanding/applying
18. • Standard measures to achieve diffusion are:
– Awareness building
– Technical assistance and consultancy
– Training
– Research of market and population etc.
19. Technology Audit
• an official examination of technology infrastructure of an
organization
• Evaluation of whether technologies are
– safeguarding organizational assets,
– maintaining data integrity, and
– operating effectively to achieve the organization's goals or
objectives
• also adds an evaluation to suggest improvements
• reviews may be performed in conjunction with a financial
statement audit or internal audit
20. Technovation
• Short for "technology and innovation”
• a radical new approach, process or product from
a technological sphere or dimension
• may be driven by
– a new technology (How can we use this?) or
– by needs (What technology might we apply to improve
this?)
• At its best,
– technovation creates valuable products and services or
– creates "disruptive" change
21. • In a global perspective three forms of innovation can
be distinguished
– local improvements based on the adoption of
technologies/ technology adoption
– innovation materializes in the building up of competitive
activities with some adaptation made to existing
technologies/ technology adaptation
– design and production of technologies of a worldwide
significance/ technology creation