“Without a strategy the organization

is like a ship without a rudder, going

around in circles.”
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 Technology
• Technology is a broad concept that deals with
the knowledge of tools and crafts, and how it
affects the ability to control and adapt to its
environment.

• Technology is a term with origins in the

Greek "technologia", "τεχνολογία" —
"techne", "τέχνη" ("craft") and "logia",
"λογία" ("saying").
 Technology
• However, a strict definition is elusive;
"technology" can refer to material objects of use
to humanity, such as machines, hardware or
utensils, but can also encompass broader themes,
including systems, methods of organization, and
techniques.
• The term can either be applied generally or to
specific areas: examples include "construction
technology", "medical technology", or "state-of-
the-art technology".
 Technology
Technology can be most broadly defined as the
entities, both material and immaterial, created
by the application of mental and physical effort
in order to achieve some value. In this usage,
technology refers to tools and machines that
may be used to solve real-world problems.
Tools and machines need not be material;
virtual technology, such as computer software
and business methods, fall under this definition
of technology.
 Technology
The word "technology" can also be used to refer to
a collection of techniques. In this context, it is the
current state of humanity's knowledge of how to
combine resources to produce desired products, to
solve problems, fulfill needs, or satisfy wants; it
includes technical methods, skills, processes,
techniques, tools and raw materials. When
combined with another term, such as "medical
technology" or "space technology", it refers to the
state of the respective field's knowledge and tools.
"State-of-the-art technology" refers to the
high technology available to humanity in any
field.
 Definition
Technology seems to be the most widely used word
today in industrial world and several words/
nomenclatures connected with technology are in
vogue. These include R&D, invention, innovation,
technology development, technology strategies,
technology absorption and adaptation, technology
transfer, technology forecast, technology assessment,
technology planning, technology information,
industrial property systems, code of conduct, and
technology management. It is difficult to find a
unique definition for technology for it has been
defined in many ways.
 Innovation and Invention
Invention is an idea for a novel product or process.
Innovation is the introduction of new products, processes
or services into the market place. Technological
innovation is a sub-set of innovation i.e. the introduction
of new products, processes or services based on new
technologies. The technological innovation begins with
invention. The first step is the idea of the invention and
the research to reduce the idea to practice. This often
results in a functional proto-type, which can be used for
filing a patent. The next step is the research and
development of the proto-type into a commercially
designed product. Finally, the product is produced and
sold.
 Innovation and Invention
The distinction between invention and innovation is an
important one, for the transformation from ideas into a
successful product is actually difficult. This
transformation is the heart of the complex process of
innovation. The hard fact is that only a few inventions
are successfully innovated, with fewer inventions
developed into new products, and still fewer new
products succeed commercially. The problem of
managing technology thus can be divided into two parts:
(i) encouraging invention, and (ii) managing successful
innovation. Encouraging invention falls in the area of
corporate research and managing successful innovation
falls in the area of managing technology.
 Science Engineering & Technology

• Science is the reasoned investigation or study of

phenomena, aimed at discovering enduring
principles among elements of the phenomenal
world by employing formal techniques such as the
scientific method.
• Engineering is the goal-oriented process of
designing and making tools and systems to
exploit natural phenomena for practical human
means, often (but not always) using results and
techniques from science.
Science Engineering & Technology
Technology is often a consequence of science and
engineering — although technology as a human
activity precedes the two fields. For example,
science might study the flow of electrons in
electrical conductors, by using already-existing tools
and knowledge. This new-found knowledge may
then be used by engineers to create new tools and
machines, such as semiconductors, computers, and
other forms of advanced technology. In this sense,
scientists and engineers may both be considered
technologists; the three fields are often considered as
one for the purposes of research and reference.
 Technology Development
• Technological development is the process of
research and development of technology. Many
emerging technologies are expected to become
generally applied in the near future.
• The new technology development process leans
on the New product development process. It starts
with a new technological idea, via research and
development through to the use of a technology
(e.g. by introducing products that are based on the
new technology in market).
 Examples of Technological
Development
• Software Technology
• Biotechnology
• Nanotechnology
• Artificial Intelligence
• Energy Development etc…

Emerging technologies - Examples of emerging technologies

are Genetic engineering / Synthetic biology, Electric cars with
range extenders and Personal rapid transit, Flash memory with
smaller, faster, lower power consuming storage, Nanomaterials,
CVD diamond, Scramjet, Wireless communication with
ubiquitous network connectivity, Anti-aging drugs,
Semantic Web or Answers Machine, more efficient bio fuels,
OLEDs, Machine translation bob, Nuclear fusion power,
3D optical data storage or Holographic data storage,
Metamaterials, 3D displays, Quantum computing,
Nanowire batteries, Virtual retinal displays, WiTricity and
WREL (Wireless energy transfer).
 Technology Management
Many factors make up the technology development
framework and there are several ways of condensing
these into a manageable number of groupings. Figure
next shows these factors grouped around six broad
dimensions:
i. Objectives
ii. Decision criteria
iii. Time
iv. Constraints
v. Activities
vi. Mechanisms
 Role & Importance of Technology
Management
Technology and management of technology are
critical for an enterprise for its successful
operation on long-term basis. Technology
management is, however, a part of the total
management system. There are three basic
considerations for starting any new firm based on
technological innovation.

a) The idea for a technological innovation;

b) A potential market;
c) Team work in both technological and business expertise.
 Technology Management
The above points underline the need for interweaving
the technology framework with other areas of
business in an enterprise. The idea of a technological
innovation should be based or linked with the
potential market and the technology team should
closely interact with the rest of the divisions of the
enterprise leading to successful logical conclusions in
terms of products/ processes to be developed as per
the objectives set in the beginning. This strategy is
best reflected in the form of a " Business Plan" of an
enterprise which needs to be prepared and approved
before starting the new business.
 Business Plan
The business plan is a strategic summary of a new venture. Its
purposes are:
i) to ensure, by clear focus in strategy, that important points
necessary to the success of any business venture, have been
considered; and
ii) to persuade financial investors to invest in the new venture. A
new venture business plan could include the following:

a) Current business status

- Business objectives
- Management and organisation
b) Products or Services
- Product description
- Technological background
- Competition
 Business Plan

c) Benefits to customers
- Market Competition
- Marketing strategy
d) Capitalisation
- Capital requirements
- Financial forecasts
- Benefits to investors

It is thus clear from the above that technology and

technology management are only a part of the total
business activity or business plan of an enterprise.
 Technology & Competition
Although technological competitiveness is necessary for corporate
survival, it alone is not sufficient. Of course, a corporation with
inferior technology cannot compete at the same price level with a
corporation superior in technology. The reason why superior
technology alone is not sufficient is that business is a system, and
there are many other systems (or sub-systems) that determine
business success. Therefore, if technology is to give a competitive
edge, management must manage it as apart of the business system.
Technological innovation can be integrated with production,
marketing, finance and personnel into a balanced business system.
Managing technology essentially involves four central concepts:
a) New ventures
b) Innovation
c) Research
d) Research infrastructure
 New Ventures
Although new ventures centred around
technology are an important class of
businesses, new hi-tech ventures are
difficult because they involve two major
risks: developing new products and
creating new markets. Ideas central to new
ventures are concerned with entrepreneural
management, overall business plan, and the
dynamics of organisational growth.
 Innovation
It denotes the whole span of activity from creating
new technological knowledge to implementing it
in new businesses. Ideas central to innovation
include concepts such as types of innovation,
processes of innovation, the-technology S-curve,
technology life cycle, economic life cycles,
sources of innovation, business opportunities in a
technological system, marketing and new
technology, corporate diversification through new
ventures, and technology in manufacturing
strategies.
 Research
Technological change is new knowledge about
what things to produce and how to produce them;
and in the corporation, new knowledge often comes
from corporate research. The corporate laboratory
is charged with the responsibility of looking after
the present and future productivity of the
corporation. Managing and integrating corporate
research with other management functions and
strategies is essential to technology management.
Research management includes organisation of
research, project management research personnel,
and corporate research strategy.
 Research infrastructure
The technologies of a corporation do not exist in a
vacuum but are part of a larger technological
context, first of the industry, then of the nation,
and then of the world. This larger context is a
research and development infrastructure, and it
has an important influence on the competitive
conditions in a country. With the expansion and
increase of intensity of international competition,
the R&D infrastructure of a nation plays a critical
role in economic competition.
 Technology & Business
• Business process
A business process or business method is
a collection of related, structured activities
or tasks that produce a specific service or
product (serve a particular goal) for a
particular customer or customers. It often
can be visualized with a flowchart as a
sequence of activities
Managing technology is taking risks in
novel products and developing new
markets. In the world of rapid technological
progress and changing competitive
environments and market needs, firms
must pay increasing attention, to
developing new innovative products for
domestic and world markets, and therefore
an efficient technology management
system is important for them.
Effective technology management in various
countries have led to several technological
advancements in the past. In table 1.1 we had listed
for you some significant technological advancements
during the past two centuries in selected areas.
Recent Gulf War (1991) is another burning example
of technological advancements in which defence
systems using latest developments in materials,
electronics and computers, etc. were used by USA
against Iraq. There is evidence to show that there has
been acceleration in technological change all over
the world during the last one hundred years.
Previous table gives some evidence to indicate
that there is a decreasing trend in the speed of
introducing technological developments into
social use. The time of substitution has also
decreased over the years. This has stepped up the
pace of invention, innovation and
substitution/diffusion. This means acceleration in
the whole process of technological change. The
new machines and techniques are not merely
products, but sources of fresh creative ideas.
 Technology & Business
There are three types of business processes:
1. Management processes, the processes that govern
the operation of a system. Typical management
processes include "Corporate Governance" and "
Strategic Management".
2. Operational processes, processes that constitute
the core business and create the primary value
stream. Typical operational processes are
Purchasing, Manufacturing, Marketing and Sales.
3. Supporting processes, which support the core
processes. Examples include Accounting,
Recruitment, Technical support.
 Technology & Business
• A business process begins with a customer’s need
and ends with a customer’s need fulfillment.
Process oriented organizations break down the
barriers of structural departments and try to avoid
functional silos.
• A business process can be decomposed into
several sub-processes, which have their own
attributes, but also contribute to achieving the
goal of the super-process. The analysis of
business processes typically includes the mapping
of processes and sub-processes down to activity
level.
 Technology & Business
• Business Processes are designed to add value for
the customer and should not include unnecessary
activities. The outcome of a well designed
business process is increased effectiveness (value
for the customer) and increased efficiency (less
costs for the company).
• Business Processes can be modeled through a
large number of methods and techniques. For
instance, the Business Process Modeling Notation
is a Business Process Modeling technique that can
be used for drawing business processes in a
workflow.
Technology & the indicators of
Competiveness
Competitiveness is a process by which
one entity strives to outperform another.
To be Competitive:
the factors are –

Ability
Desire to Win
Commitment or Perseverance
and
Availability of certain Resources
Technology & the indicators of
Competiveness
The attributes, where the competitiveness lies.
the factors are –

 Cost
 Time
 Qualities and
 Services
Technology & the indicators of
Competiveness
The range, where the competition goes on.

the markets are –

 Local
 Regional
 National and
 International
The Competitiveness Pyramid
High
Standard
of Living
(Micro Level)

Trade

Productivity
(Quality should Exist)

Investment in Productive Facilities

(Factories, R&D, Technology)
 Management of Technology &
Global Competiveness
MOT plays a vital role in the starting / creation &
maintenance of global competitiveness.
the activities takes place at National, International / Macro
Level or at the Firm / Micro Level are –

Create an Economic Growth Policy through Technology Policy

as major Contributor
Providing Infrastructure support of Technological Felicitation of
Commerce & Trade along with HR & other resources
Encourage Cooperation between Govt., Industry, Education &
Research
Support Technological Innovation and R&D activity
Promulgate Guidelines to strengthen Environment & Social
Structure
 Management of Technology &
Global Competiveness
Competitiveness of Firms, the Macro Level Scenario.

Develop a Culture of value of Technology as a Strategic Force

Understand the Dynamics of the Process of Technological
Innovation
Monitor & Forecast the Technological Changes
Develop & adopt the Effective Methodologies to Measure the
Impact of New Technology
Facilitate Implementation of Technology in operations &
infrastructure development
Prepare, Train & Hire Proper Work Force to implement New
Technology
Develop Organisational structure to permit Effective & Efficient
implementation of Technological Change
Develop appropriate reward system for Employees & Managers