Technology is one of the imperative components to one and all to sustain both personal and an efficient professional life. The luxury and convenience experienced by us, is basically the advancement of technology and how it has affected our lives. Apart from education, business as well is endowed with the technological intricacies that essentially play the role of a catalyst in delivering the best of innovatory, creative and efficient output. The ‘technology’ factor in management changes it all when it combines with any other regular activity of our lives.
A set of management disciplines which are created to permit the organization in the process of managing the technological rudiments in order to create a competitive benefit for the company above all other contemporaries is what precisely technological management is all about. Importance of technology is such that technological strategy, an integral part of technological management, plays the main role or the central character of the organization. The principle sets of rules they abide or the job they do is technological strategy, in other words. Technological forecasting is an amalgamated term which primarily is an answer to technological scouting by which it is allowed to identify the possible technologies relevant for the organization. Mapping technology as per the requirement of the business and market is known as technology road mapping. The other two components of technology management are – the technology project portfolio and the technology portfolio. Therefore the importance of technology management has deeper impacts than it can be gauged. The former being the sets and series of projects under development for the future use and the latter is the sets and series of projects in current use. However, the main role of the technological management remains in the fact that it is a very useful tool in understanding the value of a certain technology in a specific business sector or for an individual organization. The customer value is important for business houses and that essentially triggers the continuous development and invention of the technology. The technology management also keeps a regular tab on this and therefore decides when the right time to invest for technological development is and when to withdraw.
Technological management is also important when it comes to the optimization, integrated and exclusive designing, management and application of technological tools and products, better descriptions of services and actions and so on. It basically is to facilitate the mankind with better technological advancement. The primary components comprising the basic structure and concept of technological management are planning, organization, staffing, implementing, monitoring and ultimately evaluation. It is just like any other management disciple but it also incorporates the element of ‘technology’ within it. A personal supervision across the widespread gamut of technology and the variety of other complicated technical intricacies is done by technological management. Thus it also offers inputs and organizational details in, application of computer and project management, production instructions and various operation management techniques. Safety issues and health management and quality control are also done by technological management nowadays.
Category: Importance of Technology