OM0018 – TECHNOLOGY MANAGEMENT

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Master of Business Administration - MBA Semester 4

OM0018 – TECHNOLOGY MANAGEMENT

Q.1: Describe the concept of technology management. Explain the various stages of strategic technology management system (STMS).

Concept of technology management

Stages of strategic technology management system

ANS:

Concept of technology management:

Technology management can be defined as a process of planning, organising, selecting, and controlling technological resources to maintain or increase the capability and efficiency of an organisation. According to the Association of Technology Management and Applied Engineering, technology management is, “the field concerned with the supervision of personnel across the technical spectrum and a wide

Q.2: Define technological innovation. Explain the different types of innovation on the basis of flexibility and in terms of offerings.

Concept of technological innovation

Types of innovation on the basis of flexibility and in terms of offerings

ANS:

Concept of technological innovation:

“Innovation is the change that creates a new dimension of performance”.

 According to the Department of Trade and Industry, UK, innovation refers to “the successful exploitation of new ideas”. In simple words, innovation refers to the invention and successful commercial exploitation of their invention. Technological innovation is one of the ways of gaining competitive

Q.3: Briefly explain the guiding principles of technology management.

Guiding principles of technology management

ANS:

Guiding principles of technology management:

Principles act as a guiding force in the management of any operation. For instance, to execute the marketing activities of an organisation, certain principles should be followed. These principles are value creation, fulfilment of consumer needs, etc. Similarly, a new technology paradigm requires definite guiding principles. Betz et

Q.4: With a neat diagram, explain the various stages of technology life cycle.

Diagram

Various stages of technology life cycle

ANS:

Diagram:

Q.5: a. Define technology transfer. Explain the steps involved in technology transfer process.

b. Explain the major categories of technology transfer

Concept of technology transfer

Steps involved in technology transfer process

Major categories of technology transfer

ANS:

Concept of technology transfer:

It involves the transfer of adoption of technology from the internal sources in the organisation or implementing

Q.6: Explain the technological impacts on different aspects of society.

Technological impacts on society

Answer:

There occurs a cyclical relationship between technology and society.

Technology has brought

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