MI0040 –Technology Management

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Spring/Feb 2013

Master of Business Administration- MBA Semester 4

MI0040 –Technology Management -4 Credits

(Book ID: B1326)

Assignment Set -1 (60 marks)

Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

Q1.Define the term technology. Write a short note on evolution and growth of technology.

10 marks(350-400 words)

Answer : Technology is derived from the Greek word “technologic” in which "techno" means craft and “logia" means saying. On the whole, technology means having the knowledge of making something. The term „technology‟ refers to knowledge, processes or products of technological activities, according to the context in which it is used, and the term management refers to the act of getting people together to achieve a specific goal. Management refers to the process of planning, organising, staffing, directing, and controlling

Q2.Citing an example, state and explain the reasons that compel a company to go for the new technology.10 marks(350-400 words)

Answer : Reasons Compelling a Company for Obtaining a New Technology

In the previous section, we learnt in brief about the different alternatives for acquiring new technology. Now let us discuss about the reasons which compel a company for obtaining a new technology. The use of new technologies plays an important role in the industry. Whenever accompany wants to adapt the new technologies, it has to make decisions related to the acquisition of the technology. The company has to see the

Q3.Describe some characteristics of technology forecasting. Explain in brief about the six phases in technology forecasting process. 10 marks(350-400 words)

Answer : Characteristics of technology forecasting

Generally, there are some characteristics that are associated with technology forecasting. We will now discuss them briefly.

A technological forecast relates to certain characteristics such as levels of technical performance (e.g., technical specifications including energy efficiency, emission levels, speed, power, safety, temperature, so on), rate of technological advances (introduction of paperless office, picture phone, new materials, costs, so on).

A technological forecast also relates to

Q4.Write a short note on technology strategy. Explain in brief about the innovation management.

10 marks(350-400 words)

Answer : We know that a strategy is a long term view that describes a high level framework. This high level framework describes where the organization needs to be in the future years. We can define technology strategy as a planning document that explains how technology should be utilized as part of an organization’s overall business strategy. The document is usually created by an organization’s technology manager and should be designed to support the organization’s overall business plan. Most of the organizations use technologies in product and services’ generation, but all the organizations will not gain the positive

Q5.What is the importance of technology diffusion? What are the benefits of technology absorption?10 marks(350-400 words)

Answer : Technology Diffusion

The process of adopting the new technology by the customers who came to know about the technology from other customers is called as the technology diffusion. Diffusion involves special types of communication methods or system to help diffuse changes in practice, as well as changes in knowledge or attitudes. Thus, we

Q6.Explain the implementation of new technology. Briefly describe the automation decisions.

10 Marks(350-400 words)

Answer : Implementation of New Technology

The previous section gave you a clear idea on the necessary points, which you must keep in mind while choosing a new technology. In this section, we will understand itsimplementation.We know that planning is the key to success of a project. Valuing the conflicts will facilitate the organization to keep away from these problems, and for the management, to anticipate the likely trouble spots and ease it accordingly. You must keep in mind some vital preliminary considerations. These considerations are:

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