BIRLA INSTITUTE OF

TECHNOLOGY, MESRA

TECHNOLOGY

TECHNOLOGY MANAGEMENT
(MT-557)
Presented By:

Swapnarun Banerjee (MBA/10001/20) Akash Sagar(MBA/10056/20)

Abhinav Anand (MBA/10018/20) Shivangi(MBA/10058/20)

Supriya Coakley (MBA/10033/20) Anadi Shanker (MBA/10051/20)

Farheen Saba (MBA/10036/20) Kumar raj (MBA/10052/20)

Vidit Mishra (MBA/10037/20) Shivali Roy (MBA/10035/20)

Rupali Priya (MBA/10047/20) Mayank Shekhar (MBA/10020/20)

Technology
DEFINITION 
"Technology" comes from two Greek words

"Loges" The
    "Techne" (discussion knowledge
(the skill or craft or of how
needed to make  knowledge something
Something) or is made.
something)

"The knowledge, products, processes, methods and systems employed in the creation of goods
or in providing services".
 Technology as a knowledge used in production, commercialization and distribution of goods and services.

 "The application of scientific knowledge for practical purposes, especially in industry".

 "Technology is the making, modification, usage, and knowledge of tools, machines, techniques in order to solve a problem to
achieve a goal and perform a specific function.

 Technology is generally a combination of software and hardware with relative proportions varying from one extreme to the other.
Software is the know-how, technique or procedure, while hardware is any physical product, component or means.

 Hardware technology again can be of two types, namely: the end-use product type such as automobiles, computers, televisions,
and the production tool type such as instruments, equipment and machinery.

 Software technology can also be considered as being of two types, namely : the "know-how" type technology such as processes,
techniques, methods: and the, "know-why" type technology such as knowledge, skills and experience.

 In this way, technology is embodied in various forms such as machinery, equipment, document, process and skills.
CHARACTERISTICS

 A systematic curriculum to acquire literacy and skills in technology management.

 Design and select a flexible curriculum.

 Technology and Innovation Management Research Seminars

 Dual degree program (PhD x MOT)

 Practical training through project reports.

ROLES AND IMPORTANCE OF
TECHNOLOGY MANAGEMENT:
 Exploring new growth markets and opportunities
An effective and efficient technology management can help in exploring new markets for expanding
operations and business scope.
 Globalization
Technology management provides an opportunity for global outreach where business firms can establish
the trade of goods and services globally.
 Mobile Device Management
Perhaps the best example of how technology has significantly changed lives is the emergence of mobile
devices. The invention of the contemporary smartphone is almost parallel to the first man on the moon in
social gravity. Google can attest to this, as their very own algorithms prioritize mobile websites.
 Support and Security
As companies grow, they are required to store large amounts of data and inventory. With technology,
this process can be automated, boosting productivity and cutting costs.
 Cloud Computing
Cloud computing is the reason many startup companies made it off the ground. It gives businesses the
ability to outsource many of their operations to offsite, third-party resources via the Internet.
 Consumer Targeting
When technology changes, consumers change. Not only this, but many millennials and younger
generations have had the unique experience of growing up in a transitory period where technology has
drastically evolved far past presumed boundaries.
 Augmented Functionality
Technology management can give businesses cloud conveniences to optimize speed and efficiency.
Communications platform as a service (CPaaS), as an illustration, will ease the exchange of information
for both customers and co-workers.
 Market Expansion
Technology management has a hand in observing markets; building products based on those
observations; marketing those products worldwide; and of course, shipping those products globally.
“The Business Industry”
 Reduced Cost of Operations
The company's operating costs can be divided into two categories: manufacturing and administrative.
Fortunately, both industries may take advantage of technology to improve their efficiency and cut costs.
 Increased Productivity
Productivity determines a company's output performance; it is critical to concentrate on obtaining
success. With good technology management, the company's operations could be optimised, resulting in
increased productivity.
 Better Project Management
Technology management enables for the efficient and successful application of project management
tools and methodologies. It is a critical aspect of a company's operations and a significant managerial
responsibility.
 Improved Security
There should be no debate about a company's reliance on technology; the IT system houses several
sensitive files and data. The security of sensitive data must be handled with extreme caution, and
technology management can greatly aid in this regard.
 A Path to Globalization
In today's environment, globalisation has become more of a need than an option for enterprises. It
opens the door to a larger customer base and more opportunities for expansion through growth.
KEY CONCEPT
According to Khali, 
• Technology management is the combination of science, engineering and management knowledge and practice,
with technology as the central means of wealth and value creation.  
• Technology management refers to tasks that enable an organization to utilize technology properly to achieve its goals
efficiently. These tasks are divided into three main tasks: technology getting, technology use, and technology development.
• It involves the integrated planning, design, optimization, operation and control of technological products, processes and
services.
 Key Concepts that illustrates technology management is an integrative, multidisciplinary field, focused on effective
problem solving. They are as follows:-
• Product and Process Integration - Through systems thinking, quality management system development, and benchmarking
• Evaluation - At the organizational, technical and personal levels
• Planning - Including strategic plans, work plans, and environmental assessment.
• Implementation - Of quality systems, documentation systems, organizational processes, software, project execution, project
planning and control
• Change Management - Involving both management and leadership of change. 
• Training and Engagement - To cultivate individual and organizational capabilities, and promote workforce development
TECHNOLOGICAL ENVIRONMENT
Technological environment refers to the state of science and technology in the country and related aspects such as rate
of technological progress, institutional arrangements for development and application of new technology, etc. Those
technological factors which impact the business operation are called technological environment.
 
According to the well known economist J.K. Galbraith, technology means, “systematic application of scientific or other
organized knowledge to practical tasks”.
 
Technology comprises of both machines (hard technology) and scientific thinking (soft technology) used to solve
problems and promote progress. It includes inventions and innovations.

 The main features of technological environment are as follows: 

• Technological environment is a component of macro or indirect action environment.
• Technological environment changes very fast.
• Technological environment affects the manner in which the resources of the economy are converted into output.
• Technological environment is self-reinforcing.  An invention in one place leads to a sequence of inventions in other
places.
LEVEL OF ENVIRONMENT
Technology Management At Enterprise Level :
 Technology has important effects on business operations. No matter the size of enterprise, technology has both
tangible and intangible benefits that will help in making money and produce the results that customers demand.
Technological infrastructure affects the culture, efficiency and relationships of a business.
Overview of Technology Management at Enterprise Level :
Objective:
To assure that the firm gains & maintains a strong position in its core technologies which are relevant to its
product-market relationship and that these technologies support the firm’s competitive strategies.

Evaluation:
Going towards enterprise levels Technology Management includes certain areas:

 Technology forecasting

 Managing enterprise’s technology portfolio

 Technovation ; technology innovation

 Knowledge management; e.g. creation, deployment, transfer and protection of firm specific technological knowledge viz
through patent etc.

 Developing technology strategy (e.g. leader versus follower strategy)

 Implementation of new technology including its integration with the existing structure, systems and workforce

 Managing technology at the boundary / border of the firm like collaboration and coordination with supply chain partners and
customers) and Technology diffusion (from firm to suppliers and customers.

 Performance measurement of new technology like technology assessment, technology audit and feedback.

 Integration of engineering (R&D) and management of new project leading to successful implementation / commercialization

 Integration of product and process technology for delivering the objects.

Technology Management at National Level :
 The main objective of is to assure that the nation and its business firms gain sustainable technological
competitiveness in the international markets and maintain strong position in the international business on
long-term basis.

At national level, the domain of technology management includes the following areas:

 Developing appropriate technology strategy for the nation (e.g. internalization vs externalization strategy of
the nation)
 Technology forecasting (i.e. forecasting the technological changes)
Justification / appropriateness of new technology (including justification for technology adoption )
 Sustainable technologies; development of renewable energy technologies
 Sustainable economic growth
 Planning national technology portfolio
 Knowledge management (i.e. creation, deployment and protection of national
technological knowledge base)

 Managing external technology acquisitions viz guidelines for foreign technology

collaborations

 Managing technology absorption

 Managing technology diffusion

 Performance measurement of new technology

 Technology and environment management (Green accounting,

Environment Protection Act, 1986 etc)

 Technology and health & societal management

CHANGES IN TECHNOLOGICAL
ENVIRONMENT
 Technological change is an increase in the efficiency of a product or process that results in an increase in
output, without an increase in input.
 Recent decades have seen a dramatically accelerating pace in the development and adoption of new
technologies, even though various gaps persist in terms of adoption in different parts of the world, especially
in the least developed countries. This rapid technological change is affecting almost every area of the
economy, society and culture.
 Processes or products, move through technological change in three stages:
 Invention - the creation of a new product or process
 Innovation - the application of the invention for the first time
 Diffusion - how fast others begin to adopt the innovation
 Rapid technological change involves, among others, technologies like big data, the Internet of things,
machine learning, artificial intelligence, robotics, 3D printing, biotechnology, nanotechnology, renewable
energy technologies, and satellite and drone technologies. These represent a significant opportunity to
achieve the Sustainable Development goals.
MAJOR DEVELOPMENTS

 There have been many important advances in business management technology this century, almost all of
them enabled by ubiquitous broadband internet access, improved software development tools and the
scalability and reliability of data centers.
 Here are few technological advancements that have had a significant impact on how businesses operate
and how business users interact with prospects and customers.

• Business Management Applications

Cloud computing has revolutionised business management. Simply put, cloud computing is computing based
on the internet. In the past, businesses would run applications or programs from software downloaded on a
physical computer or server in their building; cloud computing allows businesses to access the same kinds of
applications through the internet. It effectively enables computing resources to be accessed and shared as
virtual resources in a secure and scalable manner. It is flexible, secure, cost effective and provides instant
access to business management application anywhere, at any time and on any device.
 WEB CONFERENCING
The rapid growth in usage of web conferencing applications has provided a greater number of
salespeople and customer support representatives with an easy way to visually communicate
with prospects and customers.
 E-COMMERCE
It’s now easier than ever for businesses to set up shop online. With a plethora of open source E-
commerce platforms available, as well as reputable and secure paid services, there is no
shortage of options for businesses to sell online.
NETWORK TECHNOLOGY

Automation
Algorithm

Problem Solving
THANK YOU!