TECHNOLOGY MANAGEMENT.pptx

TECHNOLOGY - DEFINITION
• Technology refers to methods, systems, and devices which
are the result of scientific knowledge being used for
practical purposes.
• The application of scientific knowledge for practical
purposes, especially in industry

EVOLUTION & GROWTH OF TECHNOLOGY

EVOLUTION & GROWTH OF TECHNOLOGY
• There are four phases in the Technology Life Cycle:
• Phase 1: Research and Development.
• Phase 2: Ascent.
• Phase 3: Maturity.
• Phase 4: Decline.

PHASE 1: RESEARCH & DEVELOPMENT
• Most riskiest of the 4 stages
• Here, you invest time, money and resources into a technology
that may or may not work out.
• Try to maximize opportunities in this phase
• Identify the Critical Success Factors and make sure that
investments are aligned.
• For each project or product, estimate the market size to ensure
that there's a big enough customer base for investment

PHASE 1: RESEARCH & DEVELOPMENT
• Make sure that the product has a clear and sustainable USP
(Unique Selling Point)
• Builds upon one of the organization's core competencies
• Uses some other unique resources such as a patent
• Consider using business experiments and minimum viable
products to test your ideas quickly
• Develop something that fully meets customers' real needs

PHASE II: ASCENT
• Period in a product's life when it is introduced to the market and
is experiencing early success.
• This stage begins to flatten out when equivalent technologies
appear and starts to challenge in the market.
• The goal here is to move quickly to take full advantage of having
the newest technology on the market.
• During this time, the company has a market-leading product and
significant competitive advantage
• A premium can be charged for the new product.

PHASE II: ASCENT
• Develop a solid marketing strategy to connect with right market
segments
• Consider the product mix to offer
• Look carefully at the pricing structure
• Make sure that you charge enough to make a healthy profit
• Not to be charged so much that you deter the customers
• Make sure that your production line is as streamlined and error
free as possible.
• Efficiency here will cut costs and quicken the time to market

PHASE III: MATURITY
• By this time, the market has accepted the innovation.
• Growth is stable and your competitors have started to market
similar products.
• To maximize opportunities in this phase, look for other ways to
increase profits with the technology.
• Good to consider a joint venture, a strategic alliance or an
expansion into a new market or region.

PHASE IV: DECLINE
• Growth and earnings drop as the competitors saturate the market
with similar or more technologically advanced offerings.
• Need to prepare yourself well in advance by developing a
continuous pipeline of diverse ideas and products for the market.
• This way as one product enters the Decline phase, another will
enter the Ascent phase.

PHASE IV: DECLINE
• Make sure that the organization's culture supports innovation and
creative thinking.
• Encourage your team members to share their ideas, and follow
through on the most promising ones
• That way the business will continue to thrive despite the
obsolescence of key products.

MANAGEMENT OF TECHNOLOGY & INNOVATION
• Management of technology and innovation is critical to the
organization.

MANAGEMENT OF TECHNOLOGY & INNOVATION
• Technology can be defined in a number of ways.
• The basic purpose of a system is to convert inputs into outputs.
• Organizational technology is defined as the processes within the
organization that help to convert inputs into outputs as well as
the supporting evaluation and control mechanisms.
• The management of technology involves the planning,
implementation, evaluation, and control of the organization’s
resources and capabilities in order to create value and
competitive advantage.

KEY CONCEPTS IN TECHNOLOGY MANAGEMENT
1. Technology Strategy:—the logic of how technology will be used
and what role technology will have in the organization.
2. Technology forecasting—the use of tools to study the
environment for potential technological changes that can both
positively and negatively affect the firm’s value proposition.
• Forecasting is very important in management of technology.
3. Technology roadmapping—the process of taking an innovation
or technology and trying to build more value by looking for
ways to use the technology in different markets and places.

KEY CONCEPTS IN TECHNOLOGY MANAGEMENT
4. Technology project portfolio—the use of portfolio techniques in
development and use of technology enhances the potential value of
technologies being developed and the technologies that are currently part
of a firm’s portfolio.
• The technology project portfolio contains all active projects, and is used by
managers to:
• Prioritize certain tasks/projects
• Designate resources
• Analyze outcomes
• Capitalize on returns
• Plan future investments

SIGNIFICANCE OF TECHNOLOGY MANAGEMENT
1. An organized methodology for managing and evaluating IT:
• Allows an organization to accurately assess the cost and
consumption of various IT services.
• Provides a useful way to measure technology demand and
performance.
2. Reduced operations costs:
• Simplest technological upgrades can have an impressive impact on
productivity
• Results in reduced costs of operations.

3. Effective adaptation:
• Ability to constantly adapt to new demands, needs, and expectations.
• Technology equips organizations with the necessary tools to better
serve their customers, complete key tasks etc.
4. The means to run IT as a business, rather than simply an aspect of
daily operations:
• Measures and records the value of the IT services being consumed.
• Equips decision-makers with the information needed to develop
goals/objectives for all IT efforts.

5. An ability to connect IT services to key business outcomes:
When technology is viewed as a resource and tool, as well as
productively managed by a business, it becomes much easier to
drive cost optimization by linking IT needs to specific business goals.

IMPACT OF TECHNOLOGY ON BUSINESS
• Technology has driven a lot of advanced processes in many
businesses.
• As technology becomes even more advanced, its role with
businesses will continue to grow.
• Technology has revolutionized business
• Companies across numerous industries are looking to
harness technology to improve their workforce and build
brand recognition.

Ways in which technology has influenced business:
a. Globalization
• Information technology has enabled businesses to attain a
greater reach.
• Easier for companies to do business across the world.
• Emails, text, instant messaging, websites and applications have
made global communication quicker and more effective than
ever.

b. Collaboration and Access
• Businesses have advanced internal communications making it
possible for employees at many companies to work from home.
• Communication networks enable managers to access and share
data within their department as well as throughout their
organization.
• Businesses have relied on advanced collaboration tools to
complete work that usually only occurred in person.

c. Storage
• Most of the data is stored electronically now, making it easier for retrieval
when the information is needed.
• More organizations use cloud storage to supplement their facilities, which is
made possible by cloud storage.
• Users can remotely upload and view content, store and retrieve data as
needed.
• This is a much more convenient way for organizations to access information.
• Now instead of purchasing internal servers, hard drives and thumb drives,
information can be accessed from anywhere.

d. Cybersecurity
• Cybersecurity is a major priority for businesses.
• Every organization has information that they want to be protected from
competitors, hackers and others trying to damage the company
• Virtual storage systems or cloud computing systems make information
accessible for all within an organization
• Cybersecurity protects this information.
• Cybersecurity professionals are continually working to update systems
to keep the information safe from unwanted intrusion.

e. Support
• Technology makes it possible for businesses to support external
customer service efforts as well as help individuals within the
organization.
• There are hundreds of platforms that streamline the workflow
but also facilitate the work process.
• Getting feedback is also easier since communication is also more
straightforward.

f. Mobile Technology
• It has become easier to take the work anywhere.
• It is now possible to use mobile phones to complete the work.
• Mobile technology has picked up momentum owing to its
convenience, efficiency, and speed.
• The trend of BYOD (Bring Your Device) is on the rise at many
organizations, where employees can bring technology that they
use at home.

IMPACT OF TECHNOLOGY ON SOCIETY
• Our society is completely dependent on technology due to
increase in the trend of digitalization.
• Now, the technology and human life cannot get separated.
• The regular and wide use of technology has also impacted the
needs and demands of the people.
• Technology can be used to perform different and routine tasks in
an individual’s life including traveling, communication, learning,
business or comfortability.
• The methods of using technology determine whether it will
create positive or negative effects.

POSITIVE IMPACTS
1. It has Mechanized Agriculture
• Various technologies of modern agriculture allows to grow large
amount of food quantities using less input and generating high
output within a shorter period of time.
• Use of government subsidies by the small and medium-sized
farmers for acquiring the sowing, ploughing, watering and
harvesting machines.
• Manufacturing of genetic crops which usually grows at a high pace.
• Large scale accessibility to artificial fertilizers to boost crop growth

POSITIVE IMPACTS
2. Improvement in transportation
• Improved transportation facilities using new technology
• Transport of goods and people have become more efficient
• Improvement in availability of goods and services
3. Improvement in communication
• Communication is important to transfer information
• Electronic media has made the improvement in the method of
exchanging ideas for the development of the society.
• Television and radios are used to create the voice for the society
• Mobile phones are used to organize the live community forums for the
better contribution to society

POSITIVE IMPACTS
4. Improvement in Education and Learning process
• Education is the backbone of a country’s economy
• For the better interpretation of the information, educational
infrastructures were organized well.
• Most of the educational institutions started integrating
technologies to improve learning process.
• Classroom technologies include computers, iPads, smart
whiteboards, projectors or internet to boost the learning morale of
the students

POSITIVE IMPACTS
4. Improvement in Education and Learning process..
• Visual education has become the widely used and popular
technology.
• It is considered as the best learning methods that includes all basic
subjects

NEGATIVE IMPACTS
1. Resource Depletion
• Due to increase in demand of the latest and the new technologies,
more natural resources are consumed.
• Our population is increasing which further increases the demand of
technological products.
2. Increased Population
• With the wide use of technology, various health facilities have been
improved.
• Improved medical treatments results in better health conditions.

TECHNOLOGY AND COMPETITION
Technology becomes a competitive advantage when used to deliver the
following benefits:
1. Real Insight, real responsiveness:
• Identifying and resolving issues before they become major headaches
has clear benefits.
• If the competitors can respond immediately and solve problems with
ease, it could be a result of their software.
• Many business management systems offer access to business data in
real-time.
• Easier to spot issues – customer complaints, missed invoices, project
delays etc. as soon as they arise

2. Competitive pricing, accurate quoting :
• Business management software could be helping the competitors
to score points in this area.
• It can boost efficiency, lowering price points for services overall.
• Sophisticated reporting functions can help make project costings
more accurate, meaning fewer cost overruns – and fewer
disgruntled customers.

3. Work anywhere, anytime:
• Work no longer begins and ends at the office.
• Working remotely is far more common
• Site visits, business travel, international clients and other factors
• Work often needs to be completed outside office hours and away
from the physical office.
• Cloud business software allows to access work programs and up-
to-date business data on any device, from anywhere.

4. Online access and improved service :
• Features like online customer portals can make it easier for clients
to do things
• Check the progress of a project,
• Pay an invoice
• Request a new service.
• As more businesses use technology to automate services, the
expectations will rise.
• Not providing the same level of service could lead to struggle in
retaining customers.

ORGANIZING TECHNOLOGY AT ENTERPRISE
LEVEL
• Organizing technology at the enterprise level is part of
corporate planning function and is a continuous process
• Can be divided into the following three streams
• Replacement of obsolete technologies with newer ones; and
continuous modernisation of existing technologies for improving
productivity and competitiveness
• Development and introduction of new products with a view to
Diversify.
• Setting up of new units.

ORGANIZING TECHNOLOGY AT ENTERPRISE
LEVEL
• While having certain common components, the above three
streams have certain operational differences
• Therefore, need to be dealt with separately
• First step to technology planning for any of the streams
• Defining of the technology status and the forecasting of technology needs,
keeping in view the technology trends.
• Observe the changing market in order to better satisfy the consumer
expectations

ORGANIZING TECHNOLOGY AT ENTERPRISE LEVEL
• Technology should be identified not only in term of machines but also
products and processes
• This can be clarified by comparing core industries like Cement and Steel
with fast track Electronics industry.
• In case of Cement and Steel Industry, changes in the machines and
processes take place without consumer getting the feel of it
• In case of electronics and consumer products, the product range
changes have an impact on consumer because he gets involved in it.
• A Consumer electronics manufacturer has very little time to bridge the
gap and keep pace with technological changes

• Appropriate technology for each industrial segment is thus the need of
the hour and should be the objective of an enterprise.
• Since technology strategy of the corporation has a long term impact, its
appropriate choice in the context of the operating environment is very
critical.
• Within the same sector, the technology strategy of a company will
change depending upon whether its target is domestic, international or
mixed market.

Technological changes at the enterprise level should take cognizance of
the following:
a) Country's changing economic scenario
b) Changing cultural and living standards
c) Government policies with respect to import and export and their effect
on cost.
d) Global changes taking place in the range of products affecting the
economic scene and living standards

e) Intensity in competition
f) Economics and sociology of conservation (e.g. energy conservation,
conservation of inputs like minerals etc.) and pollution control
consciousness created as a result of government policies and pressures

KEY ISSUES IN MANAGING TECHNOLOGICAL
INNOVATION
• Technological innovation is present in our routines without us
even realizing it
• This innovation makes practically everything around us easier.
Main challenges to technological innovation
1. Digital Inclusion
• Not everyone has access to internet
• Not everyone who accesses the internet will have the same experience.
• Addressing digital inclusion means trying to find ways to get more
people online
• Improves the experience of all users who currently use the internet.

INNOVATION
2. Critical Thinking
• Technological innovation provides quick access to everyday
information
• Can also lead to lack of critical thinking
• With so much information readily available, many users choose to
let others make decisions for them.
• They allow whatever they read to inform their opinion without
examining it critically.

INNOVATION
3. High Investment
• Technological innovation provides quick access to everyday
information
• Can also lead to lack of critical thinking
• With so much information readily available, many users choose to
let others make decisions for them.
• They allow whatever they read to inform their opinion without
examining it critically.

INNOVATION
4. Product Obsolescence
• Technological innovation makes it possible for new products to
come out every other day
• On one hand, technology improves and helps make more efficient
products, on the other hand, products quickly become obsolete.
• Increase in the amount of e-waste

INNOVATION
5. Underqualified workers
• The lack of technological innovation in some areas may actually
lead to the development of underqualified employees.
• Since the market is always looking for people that keep up with the
latest technologies, the lack of technological knowledge also
increases unemployment.

TECHNOLOGY MANAGEMENT.pptx

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