MI0040 –Technology Management

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Summer 2013

Master of Business Administration- MBA Semester 4

MI0040 –Technology Management- 4 Credits

(Book ID: B1326)

Assignment (60 marks)

Note: Answer all questions. Kindly note that answers for 10 marks questions should not exceed 400 words. Each question is followed by evaluation scheme.

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

 (Definition – 2 marks, Description on evolution – 5 marks, Growth of technology- 3 marks) 10 marks

Answer :  Technology :

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, organizing, staffing, directing, and controlling the activities in an organization. Thus, we can say that management of technology/technology management includes the factor of technology in all the activities like planning

Q2. Citing an example, state and explain the reasons that compel a company to go for the new technology. (Stating with an example -2 marks, Reasons and describe – 8 marks) 10 marks

Answer :

The use of new technologies plays an important role in the industry. Whenever a company wants to adapt the new technologies, it has to make decisions related to the acquisition of the technology. The company has to see the experience of its R&D for the actual need of acquiring the knowledge. The acquisition of technology becomes critical when the market lead time and competition is more. The following explains the reasons that compel the company for technology acquisition.

Q3. Describe some characteristics of technology forecasting. Explain in brief about the six phases in technology forecasting process.

(4 characteristics – 4 marks, 6 phases of technology – 6 marks) 10 marks

Answer :  Technology forecasting :

Generally, ‘forecasting’ refers to the prediction of future on the basis of available information. In the early days, traditional forecasts used to deal with the speed and power. They did not focus on the structures of the organisation. It was assumed that inventions of the future are not easy to predict. The forecasters were not focused on evaluation of the forecast process.

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

 (Explanation – 3 marks, Describe – 7 marks) 10 marks

Answer : Technology strategy :

We know that a strategy is a long term view that describes a high level framework. This high level framework describes where the organisation 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.

Q5. What is the importance of technology diffusion? What are the benefits of technology absorption? (Importance- 5 marks, 5 benefits – 5 marks) 10 marks

Answer : Importance of technology diffusion :

Technology diffusion plays a major role in most of the countries today. The barriers to technology diffusion help us to determine the magnitude of technology diffusion. These barriers determine the volumes of diffusion. Diffusion enlarges the set of available technologies and increases the productivity of the country. In case of diffusion, productivity is determined by the domestic technology in the production country and the diffusion technology from other countries. The technology diffusion

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

(Explanation- 5 marks, Description of automatic decisions – 5 marks) 10 Marks

Answer : Implementation of new technology :

We know that planning is the key to success of a project. In the same manner, a sound planning is essential for the success of any technology’s implementation. The failures that are likely to arise during the implementation process may be due to the poor planning or inadequate resources. Valuing the conflicts will facilitate the organisation to keep away from these problems,

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