TECHNOLOGY MANAGEMENTTechnology is frequently thought to be the only area ofscientific and engineering work force of an association. However, forsuccessful and effective businesses to incorporate technology into theirventures, they require decisions and opinions about technology by personnel inother functional areas, such as marketing, production, finance, sales and soon.
Along these lines two cultures (technical and functional) should be spanned,and management ought to coordinate technology strategy with business strategy. Alongthese lines the integration of technology with different business units andbusiness strategies has turned into a vital part of business for itsprosperity. Therefore, the management of technology can be defined as follows: Theconnecting of various orders to plan, develop, implement, monitor, and controltechnological abilities to shape and fulfill the key goals of an association.This definition unmistakably perceives the arranging and execution processeswhile perceiving the part of assessment and control that numerous differentdefinitions have precluded. THEIMPORTANCE OF MANAGING TECHNOLOGY Ø Growth ofthe Firm: In the event that technology is very much dealt with, anassociation will enhance its operations and lessen on operational expenses ofthe association. The specialized staff will have a test of dissecting whatclients require and determine which innovations should be executed and alsorecognize the ones to be halted. After this procedure of breaking down what isfundamental, both the association and its purchasers will profit which willprompt the development of that association.Ø Duplication is eliminated: if technologyis well taken care of or managed, the flow of information in an organizationwill be automatic.
In such a scenario, an MIS (management information system)will be set up by the technological team. Some of the benefits that MIS willprovide are:ü It willprovide periodic, foreordained and impromptu detailing capabilities.ü Most of thetime, the management information system reports summarize or combine severaldata in order to support decision making tasks. Thus, MIS’s are basicallysystems that have data-processing responsibilities that incorporate data viaonline analytical processing and passing on the data to whoever is in needof it. This process might be costly to a small organization so the people incontrol must ascertain rate of return. MIS’s provides reports in variousstructures. The reports that it offers can be summarized reports, periodicreports, comparative reports, exception reports and so on.ü MIS’s which are alsocommonly known as ”management alerting systems” are very important becausethey send alerts to management concerned to the presence or potential presenceof issues or opportunities.
In this day and age, technology keeps on progressing at afast pace; this is the reason it is important that organizations andpartnerships include technology management into the techniques they use to stayproductive and competitive. Here are some other particular reasons people andassociations ought to be worried about the administration of technology. Thesereasons are: 1. If economicdevelopment is to happen in a compelling and proficient way, the rapid pace oftechnological change demands a cross-discipline approach to take advantage oftechnological opportunities. 2.
Thedurability of products has greatly decreased because the increase of consumersbecoming sophisticated and the rapid pace of technological development haveshortened product life cycles. The consequence of these variables is arequirement for associations to be more proactive in the administration oftechnology. 3. Due to therise of new or altered technologies, the lead-time from idea to market is beingdecreased which means there is a need to cut the time for developingproducts as well as to develop moreflexibility in organizations.4.
Byeffectively using new technologies, organizations can expand their globalcompetition in order to maximize competitiveness.5. The toolsof management will always change as long as technology changes yet the waytoward figuring out what those new apparatuses ought to be is in its earlieststages. It is critical for an association to deal with its technologystrategically on the grounds that when it isn’t all around managed well, it maycome about into a major misfortune in the association.