MI0040 – TECHNOLOGY MANAGEMENT

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DRIVE
SUMMER 2016
PROGRAM
MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER
IV
SUBJECT CODE & NAME
MI0040 – TECHNOLOGY MANAGEMENT

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

Answer: Technology management can be defined as a process of planning, organising, selecting, and

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

Answer: 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


3 Briefly explain the guiding principles of technology management.
Guiding principles of technology management

Answer: Guiding Principles of Technology Management
·         Value Creation: It should be the main intention of the new technology paradigm of an organisation. Value creation creates demand for the products and services, which in turn increases the profitability of
·          
4 With a neat diagram, explain the various stages of technology life cycle.
Diagram
Various stages of technology life cycle

Answer: Various stages of technology life


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

Answer: According to the National Aeronautics and Space Administration (1965), technology transfer is “the process of providing the technology developed for one organisational


6 Explain the technological impacts on different aspects of society.
Technological impacts on society

Answer: Technological Impacts on Different Aspects of Society
Technology's Impact on Business
Business has been at the forefront of technology for ages. From the discovery of machines to replace manual labour in industries to the discovery of the Internet, technology has affected business procedures and

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