ISM403 - Technology Management

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PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)

SEMESTER IV

ISM403 – Technology Management

Set – I

Q.1 Define Science and Technology. In what way does Science and Technology support our survival and growth?

Definitions of Science and Technology                                            4

Role of Science and Technology in Survival and Growth             6

Answer-

Definitions of Science and Technology -

Science can be defined as the systematic study of nature. There are numerous definitions of the word ‘science’. According to Webster's New Collegiate Dictionary, science is the "knowledge attained through study or practice," or "knowledge covering general truths of the operation of general laws, esp. as obtained and tested through scientific method [and] concerned with the physical world

Q.2 According to the economists, Boskin and Lau (1992), there are three main sources of economic progress in a country. Explain them.       

Explanation of the three main source of exonomic  progress in a country by Boskin and Lau (1992)   10

Answer-

According to the economists, Boskin and Lau (1992), there are three main sources of economic progress in a country. These are as follows:

Enhanced

Q.3 Explain different types of Innovation.

Explain the process of innovation.

a) Types of innovation                      5

b) Process of innovation                   5

Answer-

Types of innovation -                    

Innovation can be classified into different categories. In terms of offerings, there are three types of innovations:

·         Product innovation

·         Services innovation

·         System innovation

Set – II

Q.1  Elucidate the Strategic Planning Process.

Explanation of the Strategic Planning Process.    10

Answer-

Strategic Planning Process :

There are various tools, which are helpful in strategic planning such as SWOT analysis, GE/McKinsey matrix or COPE analysis. The analysis needs to be executed at external and internal level. Markets, competition, labor market, supplier market, technology, economy, and the governing environment, all these make external environment for any organisation and study of these factors is very necessary as it helps in formulating customer strategy. Strategic planning is very important

Q.2 Elaborate the Phases of the Technology Development Process .

Phases of the Technology Development Process.      10

Answer-

Phases of the Technology Development Process :

Development of new technology is vital to the success of technology-driven organisations, because old technologies eventually become obsolete and competitors may come with more innovative technologies to grab a larger share of the market. For instance, mobile phone manufacturers are continuously trying to develop sophisticated mobile phones to provide better utilities to customers

Q.3 Explain the Technological Impacts on Different Aspects of Society

Technological Impacts on Different Aspects of Society.        10

Answer-

Technological Impacts on Different Aspects of Society :

There occurs a cyclical relationship between technology and society. Technology hasn brought about major changes in society and the increasing dependence on technology shapes the path for further technological expansions. As technology developed, it greatly impacted several aspects of society. Some of the impacts of technology on society are

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