Q.)What is role of technology in day to day life?

A.) Technology affects people's lives by improving medicines, provides better treatment for
diseases and insures a longer life. It improves transportation by helping people move from one
corner of the world to other in hours by using transportation services such as Airways, Railways,
or even Bus Transportation.Modern Technology changed people's lifestyle and the way they live.
For example, now it's possible to surf Internet on TV, watch programs, pause Live TV, and even
playback live shows. Internet surfing is a technology revolution. Because of that technology, a
person could know what is happening on the other side of the world, chat with others about
different matters and even talk using Instant Messaging Services. Watching TV on computers too
is possible. Due to Internet, it is now possible to say that the world is at your fingertips.Recent
discoveries and scientific breakthroughs such as Cracking the DNA code and Mapping the
Genome may completely change the way people look even before they are born. Parents can
change color of their unborn son's eye from blue, black or brown. Diseases that are passed
through generations, like diabetes, chronic diseases may be eliminated from the unborn child.
Such changes will create a child who is disease free and completely immune from world
diseases. This might be helpful, as people would be healthier than before. Due to genetic
alteration it maybe possible to extend human life expectancy, therefore an average person may
possibly live up to 150 years healthily.These are few and best examples that Modern Technology
and Science have greater impact on Human beings and the Earth than anything else mankind
has done before. Even though with these many Scientific and Technological advancements,
there are huge backdrops and disadvantages, Scientific and Technological advancements are
improving our way of life, but in this conquest of knowledge, this advancement is hurting the
Earth and also acting in a negative way people live. Development of Nuclear Arsenals is one
such example, which could seriously harm Earth's environment. Chernobyl blast is the best
example of how these Nuclear Plants could lead to death of millions of lives now and in the
future. Use of chemical and destructive weapons might one day bring the world to a dead end
where there is no more humanity because of people's quest for knowledge. Other matters of
concern are continuous use of limited resources such as oil and coal, and increase in pollution in
atmosphere due to these minerals. Therefore, Scientific Advancements may also make the world
worse. If after 10 years, Genetic Mutation is made possible to extend life expectancy, people will
live longer and death rate will decrease thus creating a serious problem where more resources
will consumed and lead to eventual destruction of forests and natural habitats to make way for
people.Therefore, Scientific and Technological advancement is not always good even if it is
making the lives of people better and their lives healthier. It is also making social condition and
Earth's environment worse. In conclusion, Modern Technology has great impact on our day-today life and also shapes our future.
The negative aspects of depending on technology
The bad part about depending on technology is that were gradually becoming increasingly prone
to laziness and losing our sense of working hard to achieve our goals. If a machine can do a job
quicker, we question the need to do it ourselves. The scary thought is how things might be in a
hundred or even two hundred years. Will those who have lost a commitment to exercise regularly
be sitting all day with all chores and tasks being carried out by machines? The consequences on
our evolutionary path might be severe.

Q2.)Explain the need of managing technology?

a.) Technology management is set of management disciplines that allows organizations to manage
their technological fundamentals to create competitive advantage. Typical concepts used in
technology management are technology strategy (a logic or role of technology in
organization), technology forecasting (identification of possible relevant technologies for the
organization, possibly through technology scouting), technology roadmap (mapping technologies to
business and market needs), technology project portfolio ( a set of projects under development) and
technology portfolio (a set of technologies in use).
The role of the technology management function in an organization is to understand the value of
certain technology for the organization. Continuous development of technology is valuable as long as
there is a value for the customer and therefore the technology management function in an
organization should be able to argue when to invest on technology development and when to
withdraw.
Technology management can also be defined as the integrated planning, design, optimization,
operation and control of technological products, processes and services, a better definition would be
the management of the use of technology for human advantage.
Growth of the Firm: The process of managing technology involves organizing, coordinating, and
managing activities. If technology is well managed, an organization will improve on its operations and
reduce on operational costs of the organization. The technical staff will have a challenge of analyzing
what customers need and specify which technologies are supposed to be implemented as well as
spot the ones to be stopped. After this process of analyzing what is necessary, both the organization
and its consumers will benefit which will lead to the growth of that organization.
Periodic reports ; are reports that are produced at a predetermined time interval such as daily ,
weekly, monthly or yearly.
Summarized reports; these are simply reports that aggregate information from periodic reports.
Exception reports; these show only a subset of available information based on some selection
criteria.
Comparative reports; these show two or more sets of similar information in an attempt to illustrate
a relationship.
Ad hoc reports; these are reports you can generated at any time . They are just the opposite of the
periodic reports.

Q3.)Short note on innovation and invention w.r.t technology?

A.3)
Q.4)Technology life cycle

a.4)
The four phases of the technology life-cycle[edit]
The TLC may be seen as composed of four phases:
(a) The research and development (R&D) phase (sometimes called the "bleeding edge")
when incomes from inputs are negative and where the prospects of failure are high
(b) The ascent phase when out-of-pocket costs have been recovered and the technology
begins to gather strength by going beyond some Point A on the TLC (sometimes called the
"leading edge")
(c) The maturity phase when gain is high and stable, the region, going into saturation,
marked by M, and
(d) The decline (or decay phase), after a Point D, of reducing fortunes and utility of the
technology.

S-curve[edit]
The shape of the technology lifecycle is often referred to as S-curve.[2]
The technology life-cycle (TLC) describes the commercial gain of a product through the expense of
research and development phase, and the financial return during its "vital life". Some technologies,
such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in
technology incorporated with time) whilst in other cases, such as electronic or pharmaceutical
products, the lifespan may be quite short.
The TLC associated with a product or technological service is different from product life-cycle (PLC)
dealt with in product life-cycle management. The latter is concerned with the life of a product in the
marketplace with respect to timing of introduction, marketing measures, and business costs.
The technology underlying the product (for example, that of a uniquely flavored tea) may be quite
marginal but the process of creating and managing its life as a branded product will be very
different.[citation needed]

The technology life cycle is concerned with the time and cost of developing the technology, the
timeline of recovering cost, and modes of making the technology yield a profit proportionate to the
costs and risks involved. The TLC may, further, be protected during its cycle
with patents and trademarks seeking to lengthen the cycle and to maximize the profit from it.
The "product" of the technology may just be a commodity such as the polyethylene plastic or a
sophisticated product like the ICs used in a smartphone.