NPTEL___Tech_Mgt - Management Science II Dr. Prakash Sai L....

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Unformatted text preview: Management Science II Dr. Prakash Sai L. Indian Institute of Technology Madras MODULE 5 Technology Management Technology An Introduction The word ‘technology’ has a wider connotation and refers to the collection of production possibilities, techniques, methods and processes by which resources are actually transformed by humans to meet their wants. Ferré (1988) has defined technology as “practical implementations of intelligence”. However, Gendron (1977) has provided a more comprehensive definition: “A technology is any systematized practical knowledge, based on experimentation and/or scientific theory, which is embodied in productive skills, organization, or machinery”. The role of technology in fostering economic growth of nations and enhancing their industrial competitiveness has been widely recognized, through its domineering influence over industrial productivity. Further, technology has emerged as the most important resource that contributes directly to socio- economic development. Hence, technology is viewed from various perspectives: as an ‘engine for economic development’, as a ‘strategic resource’, and as a ‘competitive weapon’. This necessitates effective management of technology - at both national and firm levels. Technology Management (TM), which inter alia aims at planning and developing the technological capabilities of an organization or a nation, has now occupied the centre stage of decision-making. 2 Management Science II Dr. Prakash Sai L. Indian Institute of Technology Madras Gaynor (1989) has provided the following description of TM: “Managing technology is a method of operation that leverages human resources, technology and other business assets by optimizing the relationships between the technology functions of the business enterprise. It is the process of integrating science, engineering and managing with research, development and manufacturing in order to meet the operational goals of the business unit effectively, efficiently and economically. It includes managing the totality of the technology operations from concept through commercialization”. TM embraces several interconnected issues such as: technology policy; technological forecasting and assessment; technology strategy; technology transfer; technology-induced as well as market-oriented Research and Development (R&D); process technology and product technology and their continuing improvement; human resource management in terms of innovative capabilities, flexibility and contribution; and technology project management. Gaynor (1989) has provided the following description of TM: “Managing technology is a method of operation that leverages human resources, technology and other business assets by optimizing the relationships between the technology functions of the business enterprise. It is the process of integrating science, engineering and managing with research, development and manufacturing in order to meet the operational goals of the business unit...
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This note was uploaded on 03/04/2011 for the course HR 303 taught by Professor Sanghamitra during the Fall '05 term at Indian Institute of Technology, Chennai.

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NPTEL___Tech_Mgt - Management Science II Dr. Prakash Sai L....

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