Course: Management of Technology, Innovation and Change Course Code: MS 102 Semester: MBA II Batch: 2011-2013Instructor: Ms Shivani Puneet Raheja E-Mail:
[email protected] Unit I (16 Hours) Technology Management Module Content: 1. Introduction 2. Understanding Technology and its Importance. 3. Relationship of Technology with Wealth of Nation & Firms Specific Knowledge (competitive advantage). 4. Technology Life Cycle. 5. Technology Acquisition and Absorption; 6. Technology Exports / Joint venture Abroad 7. Technological Intelligence and Forecasting 8. Global Trends in Technology Management 1. Introduction: Few Definitions • Science is the discovery and explanation of natural phenomena for the sake of knowledge & understanding • Technology is the knowledge and technique of the transformation of natural phenomena for human purpose • Engineering is the understanding and application of the scientific principles underlying technology and its transformation for human purpose; bridges the gap between S&T • Basic Research is exploring the domain of science for the fundamental principles and basic understanding of nature • Applied Research is taking scientific discoveries and generating technical inventions which may have potential for satisfying human purpose. • Developmental Research - that research necessary to develop the invention to level of functional capability desired • Invention - first documentation of an idea for a new device or process with features thought useful for human purpose • Innovation - the process whereby an invention is further researched, designed and engineered into a form suitable for the commercial marketplace or public-sector use: – Incremental Innovation - modifications or extensions of existing products/services for improved performance at (usually) lower cost – Radical Innovation - achieving a brand-new functional capability that separates this product/service from its predecessors; opens the possibility of totally new industries • Idea Generation + Problem-Solving Invention. • Invention + Implementation Innovation. – 12-20% of inventions results in successful innovation. • Innovation + Diffusion Economic Value. Major Stages in the Innovation Process Invention (Creation of Knowledge): Acquisition of new knowledge Innovation (Transformation of Knowledge): Application of new knowledge Diffusion (Utilization of Knowledge): Acceptance and adoption of new knowledge 2. Introduction: Understanding Technology & its Importance WHAT IS TECHNOLOGY? • Technology is a broad concept that deals with a species' usage and knowledge of tools and crafts, and how it affects a species' ability to control and adapt to its environment. Technology is a term with origins in the Greek "technologia", "τεχνολογία" — "techne", "τέχνη" ("craft") and "logia", "λογία" ("saying"). The human race's use of technology began with the conversion of natural resources into simple tools. In general technology is the relationship that society has with its tools and crafts, and to what extent society can control its environment. WHAT IS MANAGEMENT? • Management in business and human organization activity is simply the act of getting people together to accomplish desired goals. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. TECHNOLOGY MANAGEMENT Technology Management is set of management disciplines that allows organization to manage its technological fundamentals to create competitive advantage. Typical concepts used in technology management are technology strategy (a logic or role of technology in organization), technology mapping (identification of possible relevant technologies for the organization), technology road mapping (a limited set of technologies suitable for business), technology project portfolio ( a set of projects under development) and technology portfolio ( a set of technologies in use). • Technology Management can also be defined as the integrated planning, design, optimization, operation and control of technological products, processes and services, a better definition would be the management of the use of technology for human advantage. • Perhaps the most authoritative input to our understanding of technology is the diffusion of innovations theory developed in the first half of the twentieth century. It suggests that all innovations follow a similar diffusion pattern - best known today in the form of an "s" curve though originally based upon the concept of a standard distribution of adopters. • Management of Innovation is the creation and development of new ideas. • Management of Technology is the acquisition and application of existing innovations (diffusion). – Links engineering, science, and management disciplines to plan, develop, and implement technological capabilities to shape and accomplish the strategic and operational objectives of an organization.