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MI0040 –Technology Management

MI0040 –Technology Management

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MI0040 –Technology Management
MI0040 –Technology Management

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Summer 2013
 
Master of Business Administration- MBA Semester 4
 
MI0040
Technology Management- 4 Credits
 
(Book ID: B1326)
 
Assignment (60 marks)
 
Note: Answer all questions. Kindly note that answers for 10 marks questions should notexceed 400 words. Each question is followed by evaluation scheme.
 
Q1. Define the term technology. Write a short note on evolution and growth of technology.
 
(Definition
2 marks, Description on evolution
5 marks, Growth of technology- 3marks) 10 marks
 
Answer : Technology :
 The term technology refers to knowledge, processes or products of technologicalactivities, according to the context in which it is used, and the term management refersto the act of getting people together to achieve a specific goal. Management refers to theprocess of planning, organizing, staffing, directing, and controlling the activities in anorganization. Thus, we can say that management of technology/technology managementincludes the factor of technology in all the activities like planning
Q2. Citing an example, state and explain the reasons that compel a company to go forthe new technology. (Stating with an example -2 marks, Reasons and describe
8marks) 10 marks
 
Answer :
 The use of new technologies plays an important role in the industry. Whenever a companywants to adapt the new technologies, it has to make decisions related to the acquisition of the technology. The company has to see the experience of its R&D for the actual need of acquiring the knowledge. The acquisition of technology becomes critical when the marketlead time and competition is more. The following explains the reasons that compel thecompany for technology acquisition.
Q3. Describe some characteristics of technology forecasting. Explain in brief about thesix phases in technology forecasting process.
 
(4 characteristics
4 marks, 6 phases of technology
6 marks) 10 marks
 
 
Answer : Technology forecasting :
 
Generally, ‘forecasting’ refers to the prediction of future on the basis of available
information. In the early days, traditional forecasts used to deal with the speed andpower. They did not focus on the structures of the organisation. It was assumed thatinventions of the future are not easy to predict. The forecasters were not focused onevaluation of the forecast process.
Q4. Write a short note on technology strategy. Explain in brief about the innovationmanagement.
 
(Explanation
3 marks, Describe
7 marks) 10 marks
 
Answer : Technology strategy :
 We know that a strategy is a long term view that describes a high level framework. Thishigh level framework describes where the organisation needs to be in the future years. Wecan define technology strategy as a planning document that explains how technologyshould be utilized as part of an organization's overall business strategy. The document isusually created by an organization's technology manager and should be designed tosupport the organization's overall business plan.
Q5. What is the importance of technology diffusion? What are the benefits of technology absorption? (Importance- 5 marks, 5 benefits
5 marks) 10 marks
 
Answer : Importance of technology diffusion :
 Technology diffusion plays a major role in most of the countries today. The barriers totechnology diffusion help us to determine the magnitude of technology diffusion. Thesebarriers determine the volumes of diffusion. Diffusion enlarges the set of availabletechnologies and increases the productivity of the country. In case of diffusion,productivity is determined by the domestic technology in the production country and thediffusion technology from other countries. The technology diffusion
Q6. Explain the implementation of new technology. Briefly describe the automationdecisions.
 
(Explanation- 5 marks, Description of automatic decisions
5 marks) 10 Marks
 
Answer : Implementation of new technology :
 We know that planning is the key to success of a project. In the same manner, a sound
planning is essential for the success of any technology’s implementation. The failures that
are likely to arise during the implementation process may be due to the poor planning or

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