MANAGEMENT OF TECHNOLOGY

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MANAGEMENT OF TECHNOLOGY

• The Key to Competitiveness and Wealth Creation

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Definition of Technology

• Knowledge
• Products
• Processes

• Tools
• Methods
• Systems

Employed in the creation of goods or in providing
services - It is the way we do things
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Technology consists of

• Hardware
• Software
• Brainware
• Know-how

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Classification of Technology

• Technology can be classified in various ways. For
  this course the classification seeks to develop a
  common vocabulary
• New - newly introduced e.g. new software
• Emerging - not yet fully commercialized

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Classification of Technology

• LOW - MEDIUM - HIGH
• High - (high tech) advanced, sophisticated
• Characteristics of high tech industries
• - Employs highly educated people
• - Its technology changes at faster rate
• - Competes with technological innovation
• - High RD expenditure
• - Has potential to use technology for rapid
  growth
• - Survival threatened by competing technology

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Classification of Technology

• Low - used in large segment of society
• Characteristics of Low Tech Industries
• - Employee have relatively low education/skill
• - Use manual or semiautomatic operations
• - Low RD expenditure
• - Technology base stable with little change
• - Products produced satisfy basic human needs
• Medium - between high and low

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Classification of Technology

• APPROPRIATE TECHNOLOGY
• - good match between technology used and the
  resources needed for its optimal use
• CODIFIED TECHNOLOGY
• - people know how it works but not why it works
  in that way. Transfer is easier in coded form
• TACIT TECHNOLOGY
• - nonarticulated knowledge, remains in the minds
  of its developers

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Management

• - The art of carrying on business
• - Directing, controlling, steering
• organization to goal achievement
• - Needs knowledge, experience
• understanding of human
• organizational behavior

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Management of Technology

• - interdisciplinary field
• - integrates science, engineering, and
• management knowledge practice
• - focus on technology as primary factor
• in the creation of wealth

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The interdisciplinary Nature of MOT
Natural Science
Social Science
Engineering
MOT
Industrial Practice
Business Theory
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Spinning Out Technology
Society Needs
Market Needs
Technology must satisfy customer needs and
achieve societal goals. It is the engine of
economic growth
Technology Conversion
Technology creation or Acquisition
Production
The customer
Standard of living, social environmental issues
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MOT at the Organizational Level

• According to National Research Council
• interdisciplinary field concerned with
• planning
• development implementation of
  
• technological capabilities needed
• to shape and accomplish operational
• and strategic objectives of the
• organization

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Factors Contributing to Wealth Creation
Labor
Technology
Wealth Creation
Capital
Natural Resources
Market
Public and Environmental Policy
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MOT at the National/Government Level

• Field of knowledge concerned with
• setting implementation of policies for
• technological development and utilization
• impact of technology on society, organizations,
• individuals nature
• aim to
• stimulate innovation
• create economic growth
• foster responsible use of technology

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Conceptual Framework for MOT

• Traditional fields in science engineering
  contribute to scientific discovery and technology
  creation
• Traditional fields in business administration
• enterprises
• economics
• finance
• marketing
• public policy

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Why Do We Need to Manage Technology?

• More changes in the last few decades than in the
  previous few thousand years
• Rate of change increasing exponentially
• 20th Century changes have influenced employment
  patterns societal change
• Changes in
• Scope
• Competition
• Trade Blocks

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Technology and Sustainable Growth
Technological Capabilities
Trade
Economic System
Competitive Enterprises Sustainable
Economic Growth