Why to Study Management of Technology?

Technology has been and will continue to be the strategic variable for rapid socio-economic development.
If properly managed, it is pivotal in various crisis resolutions in a developing country like Bangladesh.
However, inability to identify or develop right kinds of technologies and apply them in production has
been a major cause for the slow development of social, economic progress and cultural advancement.
Realizing this fact, the developing countries are now paying increasing attention on effective and efficient
management of technology. Some essential tools needed to chart a route for technological development
are the processes of technological assessment, acquisition, forecasting and diffusion. Practicing
technologists, engineers, scientists, policy makers etc., who are involved in decision making and
implementation, need these essential tools and strategies for the development of the country.

The success of organizations is increasingly dependent upon their leaders’ ability to properly manage
resources in a world of rapidly changing technology. Business enterprises must also be able to complete
in a dynamic global market. Engineers, scientists, and policy makers should be aware of the issues
associated with the management of technology. The economic present and future of their businesses, as
well as their countries, will depend on how technology managerial activities are done efficiently.

Today, the progress of a developing country is highly dependent on her strategic policy of technology
management, such as, Technology policy and control, technology selection, technology transfer and
diffusion etc. So besides the knowledge of technology know-how, the knowledge of management of
technology is also very important. Bangladesh being a developing country should understand and
recognized the critical role of technology management in social and economic development. There are
huge numbers of technological failures occurring in the country every year. This is due to lack of
conceptual knowledge, efficiency and sagacity in management of technological issues. The immense
diversity of theoretical and analytical knowledge of technology management that is available has not been
taken into consideration in the formulation of strategies, policies and programs in the country.

Presently core technologies are available globally. But crucial part is its management and prudent
applications. Thus knowing the technological know-how is not only important; now-a-days, its
management and application aspects also plays a vital role. Managers, Engineers, Scientists and
Policymakers must be aware of the basic conceptual setting of technology and the processes of effective
management of technology. This postgraduate program of IAT has been developed such a way that it can
be a useful degree program for the technologists, engineers, entrepreneurs, policy makers, planners, and
implementers in a developing country like Bangladesh who intend to harness technology for
development. This program has got a prime objective of providing and creating a knowledge ground
about the technology per se and its dynamic management process. This basic understanding is essential in
dealing with the complex tasks of formulating effective policies and planning which is entangled with the
successful technology-based development in the country. Technology policy must involve technology
development process, technology adaptation, reverse engineering, technology transfer mechanism which
generate basic infrastructure for creating take-off ground pertaining to technology advancement and
national development.

The enhancement of economic prosperity for countries, industries, and businesses depends upon the
effective management of technology. Technology creates wealth. The proper exploitation of technology
strongly influences business competitiveness, which is no longer a matter of choice but a matter of
survival in the marketplace. At the macro and micro levels, nations and individual firms and organizations
are acknowledging the link among innovation, technology management and economic success. The
management and development of technology provides an innovator with a leading edge. Clearly, the
management of technology is a key to success in the competitive global economy.

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