Lecturer Notes of Management of Technology Department of BBA

UNIT: 7
TECHNOLOGY GENERATION AND DEVELOPMENT
7.1. Introduction To Technology Generation:
• Technology generation refers to the progression and development of technology over
time, typically characterized by distinct eras or periods of innovation.
• Examples include the first generation of computers, which used vacuum tubes, and the
fourth generation of computers, which use microprocessors.
• Technology Generation and development is sometime identical to R & D [Research
and Development]

7.1.1. Process of Technology Generation:

The process of technology generation typically includes the following steps:
• Idea generation: the process of identifying and generating new ideas for products,
services, or processes. This step is similar to the first stage of R&D, and can involve
brainstorming sessions, market research, and analyzing customer needs.
• Research and development: The process of developing and evaluating the feasibility
of the ideas generated in the idea generation stage. This step is similar to the second
and third stages of R&D, and can involve designing, prototyping, testing, and refining
the technology.
• Commercialization: The process of introducing the technology to the market and
making it available for sale or use. This step is similar to the fifth stage of R&D and
can involve obtaining patents, licensing agreements, and manufacturing and
distribution agreements.
• Diffusion and adoption: the process of getting the technology adopted and used by
customers, businesses, and society. This step can involve marketing campaigns,
education and training programs, and other efforts to spread awareness and
understanding of the technology.
• Obsolescence: The process of discontinuing or phasing out a technology when it is no
longer useful or relevant. This step can involve withdrawing support, ending
production, and encouraging migration to newer technologies

7.1.2. Importance of Technology Generation

Technology generation is important for several reasons:
• Innovation: Technology generation drives innovation by constantly creating new
products, services, and processes that can improve the way we live and work.
• Economic Growth: New technologies can spur economic growth by creating new
markets, jobs, and industries.
• Increased Productivity: New technologies can make existing processes more efficient
and lead to increased productivity.
• Improved Quality of Life: New technologies can improve the quality of life by solving
problems and making life easier, safer, and more convenient.
• Social Progress: New technologies can lead to social progress by increasing access to
information, education, and healthcare and by reducing poverty and inequality.
• Environmental Impact: New technologies can have a positive or negative impact on
the environment, and it's important to consider the environmental impact of new
technologies during the development process.

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 Lecturer Notes of Management of Technology Department of BBA

• National Security: New technologies can play an important role in national security,
by helping to protect a country's citizens and interests.
• International Competitiveness: New technologies can give countries a competitive
advantage in the global market, by helping them to produce goods and services more
efficiently and effectively.

7.1.3. Research and development (R&D):

• R & D refer to the process of investigating and creating new products, services, or
technologies.
• It encompasses a wide range of activities, including basic research, applied research,
and experimental development.
• R&D is typically carried out by companies, universities, and other organizations to
improve existing products or create new ones.
• The goal of R&D is to increase knowledge and develop new or improved products and
processes that can be commercialized to generate revenue.
• R&D is a key driver of innovation and economic growth, and is essential for a
company's long-term success.

7.1.3.1. Stages of R &D

The stages of research and development (R&D) typically include:
• Idea generation: Identifying potential new products or ways to improve existing ones.
• Feasibility study: Determining whether the idea is practical and financially viable.
• Concept development: Creating detailed designs and plans for the product or process.
• Testing and validation: Conducting experiments and prototype testing to ensure the
product or process works as intended.
• Commercialization: Bringing the product or process to market.

7.1.3.2. Advantages of R&D:

Research and development (R&D) have several advantages, they are:
• Innovation: R&D is the primary driver of innovation and is necessary for the
development of new products, services, and technologies.
• Competitive advantage: Companies that invest in R&D are better equipped to stay
ahead of the competition and maintain a competitive edge in their respective markets.
• Improved efficiency and cost savings: Through R&D, companies can improve their
existing products and processes, resulting in greater efficiency and cost savings.
• Increased revenue: New and improved products developed through R&D can lead to
increased sales and revenue for a company.
• Attraction and retention of talented employees: Companies that invest in R&D are
often able to attract and retain talented employees who are drawn to work on cutting-
edge projects and technologies.
• Environmental and social benefits: R&D can lead to the development of products and
technologies that are more environmentally friendly and sustainable, as well as
addressing social challenges.
• Economic growth: R&D is a key driver of economic growth and can lead to the
development of new industries and job opportunities.

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 Lecturer Notes of Management of Technology Department of BBA

7.2. Technology Strategy:

• Technology strategy refers to the planning, management, and implementation of
technology initiatives within an organization.
• It involves identifying the technology-related needs of the organization, and then
developing and implementing a plan to meet those needs.
A technology strategy typically includes the following elements:
• Technology vision: a statement that describes the organization's long-term goals and
objectives related to technology.
• Technology roadmap: a plan that outlines the steps and timelines required to achieve
the technology vision.
• Portfolio management: the process of managing and optimizing the organization's
technology investments and resources.
• Innovation management: the process of identifying and developing new technologies
that can help the organization achieve its goals.
• Risk management: the process of identifying and mitigating risks related to
technology initiatives.
• Governance: the process of ensuring that technology initiatives are aligned with the
overall goals and objectives of the organization.
• Implementation and execution: the process of turning the technology strategy into
action by allocating resources, developing timelines, and implementing and executing
the plan.
• Monitoring and evaluation: the process of monitoring and evaluating the performance
of technology initiatives, and making adjustments as needed.

7.2.1. Need of Technology strategy:

A technology strategy helps organizations to:
• Align technology initiatives with business goals: A technology strategy helps
organizations to align their technology initiatives with their overall business goals,
ensuring that they are focused on the areas that will have the greatest impact.
• Make effective use of resources: A technology strategy helps organizations to make
effective use of their resources by identifying the most important technology initiatives
and allocating resources accordingly.
• Stay competitive: A technology strategy helps organizations to stay competitive by
ensuring that they are investing in the right technologies and keeping up with the latest
developments in their industry.
• Manage risk: A technology strategy helps organizations to manage risks associated
with technology initiatives by identifying and mitigating potential issues.
• Create a culture of innovation: A technology strategy can help organizations to foster
a culture of innovation by encouraging employees to think creatively and to identify
new opportunities for technology to improve the business.
• Improve decision making: A technology strategy can help organizations to make
better decisions by providing a clear framework for evaluating and prioritizing
technology initiatives.
• Collaboration: A technology strategy can help organizations to foster collaboration
and coordination between different departments and teams by ensuring that everyone
is working towards a common set of goals and objectives.

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 Lecturer Notes of Management of Technology Department of BBA

• Create a sustainable future: A technology strategy can also help organizations to

create a sustainable future by considering the environmental impact of the technology
they are using and investing in.

7.3. Corporate Research and Product Lifetime:

• Corporate research refers to the research and development activities that are
conducted by a company, typically with the goal of creating new products, improving
existing products, or finding new ways to do business.
• This can include market research, product development, and other types of research that
are focused on improving the company's bottom line.
• Corporate research is an important part of many companies' overall strategy, as it can
help them stay competitive in a rapidly changing business environment.
• product lifecycle is a model that describes the stages that a product goes through from
its initial development to its eventual retirement.
The stages of the product lifecycle include:
• Development: This is the stage where the product is first conceptualized and designed.
• Introduction: During this stage, the product is first introduced to the market.
• Growth: During this stage, the product starts to gain traction and sales begin to
increase.
• Maturity: During this stage, sales of the product begin to level off and may even
decline
• Decline: During this stage, sales of the product decline and the product is eventually
phased out and retired.

7.4. Research and development (R&D) Efforts to Technology:

• R & D efforts refers to the activities that a company undertakes in order to create new
products, improve existing products, or find new ways to do business.
• These activities can include market research, product development, and other types of
research that are focused on improving the company's bottom line.
• Translation of R&D efforts to technology refers to the process of taking the research
and development work and turning it into a tangible technology or product.
• This can include taking a concept or idea and turning it into a prototype, and then further
developing it into a final product that can be marketed and sold.
• The translation of R&D efforts to technology can be a complex and time-consuming
process that often involves multiple teams and departments working together.
• This process can also include testing and validation of the product, as well as obtaining
any necessary approvals or certifications before the product can be released to the
market.

7.5. Innovation and Technology:

• Innovation refers to the process of creating and implementing new ideas, products,
services, or processes.
• It is the driving force behind the development of new technologies and can be applied
to a wide range of industries and sectors.
• Innovation can come in many forms, such as new products, new production methods,
new business models, or new ways of organizing a company.

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 Lecturer Notes of Management of Technology Department of BBA

• Technology, on the other hand, refers to the tools, methods, and techniques used to
develop and improve products, processes, and systems.
• Technology can also be seen as the application of scientific knowledge for practical
purposes.
• Innovation and technology are closely related and often work together.
• Innovation often relies on technology as a means of bringing new ideas to life, and
technology can also be a source of new opportunities for innovation.
• Innovation in technology can lead to new products, services, and business models that
can disrupt existing industries and create new ones.

7.6. Technological innovation and Management:

• Technological Innovation refers to the process of creating new or improved products,
processes, or services through the application of technology.
• This can include the development of new technologies, the adaptation of existing
technologies to new uses, or the combination of different technologies in new ways.
Effective management of technological innovation is critical for businesses and
organizations to remain competitive and adapt to changing market conditions.
• This can include identifying new opportunities for innovation, developing strategies for
implementing new technologies, and managing the risks associated with introducing
new products or processes.
• Additionally, it can also include creating a culture that encourages and rewards
innovation, investing in research and development, and fostering collaboration and
partnerships between different departments and organizations.

7.7. Measures of Innovative Performance:

• Measures of innovative performance are used to evaluate the success of an
organization's efforts to innovate and create new products, processes, or services.
Some common measures of innovative performance include:
• Patent counts: The number of patents filed or granted to an organization can be used
as an indicator of its level of innovation activity.
• Sales of new products: The percentage of total sales generated by new products can
indicate the success of an organization's efforts to bring new products to market.
• Research and development (R&D) expenditure: The amount of money an
organization spends on R&D can be used as an indicator of its commitment to
innovation.
• Market share: The percentage of total market share held by an organization can be
used as a measure of its competitive position in the market.
• Return on R&D investment: The return on investment (ROI) generated by an
organization's R&D activities can be used to evaluate the effectiveness of its innovation
efforts.
• Collaborations and partnerships: The number of collaborations and partnerships
formed by an organization can be an indicator of its ability to leverage external
knowledge and expertise to drive innovation.
• Employee engagement: The level of engagement and creativity of employees in the
organization can be an indicator of the culture of innovation within the organization.
• Customer feedback and satisfaction: The feedback and satisfaction of the customers
can be used to measure the impact of innovation on the end-users.

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