Chapter 1 Intro to Technology Management PDF

CHAPTER 1 INTRODUCTION TO TECHNOLOGY MANAGEMENT ©HZ 2024  CHAPTER OUTCOME 1. Define technology and understand different technology types 2. Explain the concept and significant of technology management 3. Understand the challenges of technology changes and the way organization ca...

CHAPTER 1 INTRODUCTION TO TECHNOLOGY MANAGEMENT ©HZ 2024  CHAPTER OUTCOME 1. Define technology and understand different technology types 2. Explain the concept and significant of technology management 3. Understand the challenges of technology changes and the way organization can respond to it CHAPTER OUTLINE Definition of technology Technology Components Salient Features of Technology Classification of Technology Concept of Technology Management Nature of Technology Management Drivers of MOT Responding to Technology Challenge IR4.0  INTRODUCTION ACADEMIC/ ORGANIZATION PROFESSIONAL Sustainable competitive advantage A new discipline and long-term profitability Technology Management DEFINITION TECHNE The skills or craft needed to make something The knowledge of how something is made LOGES Discussion or knowledge of something “the knowledge, products, processes, tools, methods and systems employed in the creation of goods or in providing services” [ TarekKhalil (2000) ]  COMPONENTS Hardware Software Brainware The knowledge of The reasons Any how to use the for using physical hardware in technology products order to carry out the required in particular tasks way SALIENT FEATURES OF TECHNOLOGY Change Widespread Effects Self-reinforcing Complex Amoral CONT.. New Tacit Emerging Codified High Low Medium  CONCEPT OF TECHNOLOGY MANAGEMENT Management of Technology “An interdisciplinary field concerned with the planning, development and implementation of technological capabilities to shape and accomplish the operational and strategic objectives of organization”[National Research Council Report(1987)]. BREAK SLIDE 15 MINUTES DEFINITION TECHNOLOGY MANAGEMENT Technology Management has the task of making the required technologies available for future services at the right time and at reasonable cost. which provides the product or service with a benefit accepted Required technologies by the customer Correct time at which the customer requests the product or sevice features equal or less effort to achieve the characteristics than the Reasonable cost competitors Characterization of Technologies in Life Stages Technology life cycle Cont. If one wants to differentiate oneself from the competitors through technology, one should: choose a technology that is only mastered by a very few, be a leader or at least very good at mastering this technology, and combine as many technologies as possible to increase the complexity and to make copying more diffcult. Technology S-curve according to Krubrasik (1982), Foster (1986) Nature of Tech. Management ➔ It is a Process Planning Development Implementation / Commercialization ➔ It is Goal Oriented Satisfying human needs Improving the competitive advantage and profitability of enterprise ➔ It is an Interdisciplinary Mix ➔ It is a System ➔ It Involves Risk ➔ It is Socially Beneficial ➔ It is Evolutionary  DRIVER OF TECH. MANAGEMENT Change in Change in Change in Change in Change in asset emphasis on Technology scope competition valuation knowledge Responding to Technology Challenges Shared Values Skills Structure Style Strategy Staff System  OVERVIEW OF TECHNOLOGY MANAGEMENT AND ITS ROLE IN ORGANIZATIONS Technology does not mean hardware. In the original Greek sense, technology means “the process or art of producing objects commercially”. Technology is therefore not hardware, but the knowledge of how to do something – the know- how. Engineering is the conversion of technologies into applicable hardware or software.  OVERVIEW OF TECHNOLOGY MANAGEMENT AND ITS ROLE IN ORGANIZATIONS How and when technologies are developed, used or deployed can be assessed and planned. In most cases, the technologies used are the basis for an organization’s range of services, i.e. for products or services. How good and how successful one is with it can be analyzed, evaluated, planned and executed and is thus subject to a structured management process.  KEY CONCEPTS AND THEORIES OF TECHNOLOGY MANAGEMENT A basic concern of technology management is to identify and implement far reaching, risky technological product and process innovations in time and largely independently of the company’s current level of success, so that a company’s existence is never threatened as a result of missed technological innovation opportunities. Beyond this extreme case, technology management has far-reaching functions in the everyday innovation life of a company or organization:  KEY CONCEPTS AND THEORIES OF TECHNOLOGY MANAGEMENT The selection of the required technologies presupposes knowledge of future developments. Technology management is therefore mostly future-oriented and always associated with signifcant risks that can rarely be captured in advance with classic planning tools.  THE IMPACT OF TECHNOLOGY ON BUSINESS AND SOCIETY What happens if you use your technological competence (the know-how = technology) in the wrong way or if you miss developments is shown by numerous examples even of renowned and so far successful companies?  THE IMPACT OF TECHNOLOGY ON BUSINESS AND SOCIETY For example, in the 1980s IBM completely misjudged the development of distributed computing technology as the basis of the personal computer (PC). IBM was the largest company in the US by revenue and the world leader in the computer hardware market. However, the computer market was manageable, there was a limited customer group that could afford the mainframes of the time, large corporations, government agencies, universities. At the beginning of the 90s, IBM wrote losses worth billions and had to lay off more than 200,000 employees.  THE IMPACT OF TECHNOLOGY ON BUSINESS AND SOCIETY Nokia, as well, has obviously missed a technology deployment. As the world’s leading manufacturer of mobile phones, Nokia mastered and technologically led many of the technologies also used in today’s smartphones years ago: Edit emails on the mobile phone, Internet access, calendar and data management, and many more. Only the technology use of the touch screen and the user-friendly tapping and swiping, the Finns have probably misjudged. Today, the former mobile phone division of Nokia belongs to the Microsoft group.  THE IMPACT OF TECHNOLOGY ON BUSINESS AND SOCIETY Many small and medium-sized enterprises (SMEs) have also failed to recognise technological developments or have missed technological opportunities. While corporations such as IBM and Nokia often have suffcientfnancial reserves to absorb such a setback, many SMEs have disappeared from the market as a result of a technology change.  THE INDUSTRIAL REVOLUTION (IR) The Industrial Revolution (IR) has seen a progression from the mechanization of production in IR1.0, characterized by the use of water and steam power, to IR2.0, marked by mass production and the advent of electricity. IR3.0 brought automation through electronics and information technology, leading to the digital revolution. In contrast, IR4.0 is defined by the fusion of physical, digital, and biological technologies, leveraging advancements in AI, robotics, IoT, and biotechnology. This fourth wave integrates cyber-physical systems into every aspect of life, fundamentally altering how we work, interact, and live. It emphasizes connectivity, data-driven decision-making, and personalized experiences, ushering in a new era of innovation, efficiency, and societal transformation.  4IR TECHNOLOGIES Machine Learning and Analytics Artificial Intelligence (AI) is perhaps one of the most significant 4IR advances. Think of Facebook’s AI. Facebook’s AI knows a lot about you: Where you walk, what music you play for certain days, and moods when you post messages about feeling elated or depressed. Linked to your IoT data, AI uses machine learning to train itself on when you are leaving work to turn on your house climate control and shut down the climate control when you leave for work. “Simply put, AI does not just automate. It thinks.” DISCUSSION Q&A  EXERCISES 1. Q&A: How do you use each of the 4IR technologies in your own life and work? What are your concerns with any or each of them? 2. Choose 3 technologies from 1 to 3IR that you think have been the most influential technologies leading to where we are today. 3. Discussions: a. Are industrial revolutions, from 1 to 4IR always prompted by socioeconomic changes? What are the socio-economic punctuations for 4IR? b. Discuss/debate on the following: Industrial revolutions have bettered humanity! c. Discuss/debate on the following: Industrial revolutions have bettered the SDG and the environment! d. With 4IR become the linchpin towards sustainability and stop environmental degradation? How? e. COVID-19 has changed the nature of work and life. Will 4IR help create a better work-life balance? Explain! f. Which of the industrial revolutions, from 1 to 3IR, most dramatically impacted society and globalization? Which one has been the most positive and which one the most negative?