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Technology Management

Group Members:

Definition
• Technology
– Technology is the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function. It helps humans adapt to their natural environment.

• Technology Management
– Set of management disciplines that allow organizations to manage their technological fundamentals to create competitive advantage. [1]

Role of Technology • Providing product's innovative features. enhance Quality of Service. Governance. • Information Technology has helped reduce cost. For example digital technology to produce and deliver published material or indeed the use of ERP to assist with the management of processes across the enterprise and also between enterprises. and Risk Management. drive agility. and interpret client or consumer behavior. improved performance. Informed decisions by tracking and reporting business metrics has helped organizations act faster. For instance. and the very materials that goods are made from [2] • Plays a crucial part in process to produce and/or deliver the product. . and increases productivity by automating tasks.

Role of Technology Management To understand the value of certain technology for the organization and to be able to argue when to invest on technology development and when to withdraw. •Technology •Technology •Technology •Technology •Technology strategy forecasting road mapping project portfolio portfolio [3] .

– For instance. .Technology Strategy • First to market – Long-term first-to-market strategy success requires more than a technology breakthrough. VisiCalc. It is also necessary either to continue producing new products based on technological and market innovation. a company that developed the first spreadsheet software program for personal computers went bankrupt even after initial success as it failed to develop an improved version or second product.

• Fast Follower ….. GE differentiated its offerings from developer EMI's not only through improved performance but also through its well-respected trademark.Contd. and endorsements by . Overtaker – Innovative imitation by offering a similar product that can be differentiated from the first entrant's offering – In the field of computerized axial tomography. customer training. extended warranties . application engineering.

where significant economies of scale can be realized through process innovation. . i. superior processengineering and value analysis skills. IBM-compatible PC clones.. – This strategy has been successfully used by the Japanese and other Pacific Rim countries to gain dominant market share in consumer electronics.e.. and even the fashion industry. • Cost Minimization – The cost minimization strategy is effective for mass-produced goods.Contd.

since the opportunity for growth is limited. • Market Niche or Specialist – To succeed. – For example.Contd. . it will be saturated within a relatively short time. a market niche must be carefully selected and followed. Control Data. was forced to abandon its original profitable but limited niche of data acquisition and control systems and compete directly with IBM in data processing. an area with low profits and fluctuations in market share. If the market niche is too small. to increase sales..

the prediction will be quantified. made through a specific logic.Technology Forecasting • Process of predicting the future characteristics and timing of technology. . and will estimate the timing and degree of change in technological parameters. and capabilities. When possible. attributes.

subjective judgments about the probable time when a specific technological .Technology Forecasting Methods Methods based on •Numeric data – extrapolates history by generating statistical fits to historical data – A few numeric methods deal with complex interdependencies •Judgmental methods – Judgmental forecasting may also be based on projections of the past. but information sources in such models rely on the subjective judgments of experts – The Delphi method uses a panel of individuals who make anonymous.

. – The method follows: • • • Identifying emerging technologies Channel technology related information into an organization In a corporate context supports the acquision of technologies .Contd. • Technology scouting – Companies assign part of their staff or employ external consultants to gather information in the field of science and technology and through which they facilitate or execute technology sourcing.

[4] • It applies to a new product or process. • Uses – It helps reach a consensus about a set of needs and the technologies required to satisfy those needs – It provides a mechanism to help forecast technology developments – it provides a framework to help plan and coordinate technology developments .Technology Roadmapping • It is a plan that matches short-term and longterm goals with specific technology solutions to help meet those goals. or to an emerging technology.

Roadmapping Process • Preliminary Phase – satisfy essential conditions. recommend the technology alternatives that should be pursued and create the technology roadmap report. specify the major technology areas. provide leadership / sponsorship and define the scope and boundaries for the technology roadmap. validated and hopefully accepted by the group that will be involved in any implementation . specify the technology drivers and their targets. • Development Phase – identify the “product” that will be the focus of the roadmap. identify the critical system requirements and their targets. identify technology alternatives and their timelines. • Follow up Activity Phase – This is the moment when the roadmap must be critiqued.

technology planning and the business development. • The process of technology roadmapping fits into corporate strategic planning .Contd. • Three critical elements should be connected: – Needs – Products ..

Technology Project Portfolio • a set of projects under development Technology Portfolio • a set of technologies in use .

– Open Source Software development. who can further develop and exploit the technology into new products. • Example – Mutliflow Computer Inc. technology. methods of manufacturing etc among others to ensure technological development is accessible to a wider range of users.Technology Transfer • It is the process of sharing of skills. knowledge. – Research into Nuclear fusion .

Technology Price Relationship • Whenever a company has a technological advantage. as well as the commanded price. • Thus. • But. will decline eventually. one of the factors of vital concern in proper management of technology is the timely creation and introduction of technology in the market place. the value of the technology. . it is able to command a premium price for its technology.

.Time Based Competition • TBC focuses on the entire value-delivery system to reduce the time required to deliver a product or service. • Fast food competitive sector. firms use time as their advantage in the service • Manufacturing organizations have switched to just-in-time (JIT) systems to compress time wasted in production and facilitate quick response t customer demands.

Diffusion of Innovation [Model] • It is the study of how. [5] . • Rogers defines an innovation as "an idea. and at what rate new ideas and technology spread through cultures. • Diffusion is the process by which an innovation is communicated through certain channels over time among the members of a social system. practice. or object that is perceived as new by an individual or other unit of adoption". why.

Adoption of Innovation and S curve .

as the technology matures. • In broad terms the "s" curve suggests four phases of a technology life cycle . or a generation of a technology. • Technology adoption is the most common phenomenon driving the evolution of industries along the industry lifecycle. growth. producing gains that are first easier and larger over time then exhaustingly more difficult. After expanding new uses of resources they end with exhausting the efficiency of those processes. • Most new technologies follow a similar technology maturity lifecycle describing the technological maturity of a product.emerging.Contd. . but applies to an entire technology. This is not similar to a product life cycle.. mature and aging.

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They provide not only a scorecard to separate hype from reality.Hype Cycle [Model] • Gartner's Hype Cycles offer an overview of the relative maturity of technologies in a certain domain. but also models that help enterprises decide when they should adopt a new technology. .

Consequently.Five Phases • "Technology Trigger" — The first phase of a hype cycle is the "technology trigger" or breakthrough. The final height of the plateau varies according to whether the technology is broadly applicable or benefits only a niche market. "Plateau of Productivity" — A technology reaches the "plateau of productivity" as the benefits of it become widely demonstrated and accepted. "Slope of Enlightenment" — Although the press may have stopped covering the technology. but there are typically more failures. the press usually abandons the topic and the technology. product launch or other event that generates significant press and interest. "Peak of Inflated Expectations" — In the next phase. some businesses continue through the "slope of enlightenment" and experiment to understand the benefits and practical application of the technology. There may be some successful applications of a technology. • • • • . The technology becomes increasingly stable and evolves in second and third generations. a frenzy of publicity typically generates over-enthusiasm and unrealistic expectations. "Trough of Disillusionment" — Technologies enter the "trough of disillusionment" because they fail to meet expectations and quickly become unfashionable.

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• Establishes the expectation that most technologies will inevitably progress through the pattern of over enthusiasm and disillusionment • Provides a snapshot of the relative maturity of technologies within a certain segment of the Industry.Contd. horizontal or vertical business market. nor should they ignore a technology just because it is not living up to early over expectations . such as a technology area.. or a certain demographic audience • Has a simple and clear message: Companies should not invest in a technology just because it is being hyped.

however. Both companies and consumers have benefited from technology-driven improvements such as online orders. . ticketless travel and just-in-time inventory management. • A key challenge for both company leaders and technology staff. • Companies have successfully reduced costs by examining business processes and eliminating actions that customers do not perceive as valuable. and to shape its overall development.Conclusion • The function of technology assessment is all the more indispensable in order to match scientific and technical effort to the specific circumstances of every company. is shifting focus from projects centered on cost reductions to projects that develop innovative products and drive revenue.

retrieved on 29/03/12 • • Technology Management. retrieved from http ://www.wikipedia. retrieved from http:// en. retrieved from http:// www.open. retrieved from http:// openlearn. retrieved from http:// www.org/wiki/Technology_management. retrieved on 29/03/12 .referenceforbusiness.technologyroadmapping.7 .stanford. retrieved on 29/03/12 • • Diffusion of Innovations.htm . retrieved on 29/03/12 Technology Roadmapping.ac.uk/mod/oucontent/view.com/encyclopedia/Str-The/Technology-Manage .com/.References • Technology Management. retrieved on 29/03/12 Role of Technology.php?id=399417&section=3.edu/class/symbsys205/Diffusion%20of%20Innovations.