'tudent name( Chandan 'ingh #eg no( +,111-.

/2 'u%2ect code( )3--1-

Course( )*A 0C code( -/1-1 'u%2ect name( Technology management

Q1. Define the term technology. Write a short note on evolution and growth of technology. Ans. Technology- Technology is derived from the Greek word technologia in which "techne" means craft and "logia" means saying. On the whole, technology means having the knowledge of making something. Evolution and Growth of Technology-The history of technology dates back to the time when humans were able to re are some sim le tools with easily available natural resources. !istory indicates that the advancement in technology had a ma"or lea with the invention of the wheel. #rom the invention of the wheel, much usage of the technology has started. The technology in all the fields has grown to a larger e$tent and now we can see the technology involved in almost all the things we use in our daily life. %e know that there are some advanced technologies at resent which include the rinting ress, tele hone and &nternet which have hel ed us to communicate all over the globe. Q2. Citing an e am!le" state and e !lain the reasons that com!el a com!any to go for the new technology. Ans. #easons Com!elling a Com!any for $%taining a &ew Technology - The use of new technologies lays an im ortant role in the industry. %henever a com any wants to ada t the new technologies, it has to make decisions related to the ac'uisition of the technology. The com any has to see the e$ erience of its ()* for the actual need of ac'uiring the knowledge. The ac'uisition of technology becomes critical when the market lead time and com etition is more. The following e$ lains the reasons that com el the com any for technology ac'uisition. Technology ac'uisition hel s to bridge the ga in technology, in the develo ing countries like &ndia. The fastest way of bridging the technology ga is through collaborations. +c'uiring the technology from outside com any is more costlier than ac'uiring technology from the ()* of the same com any. &t will be better, if we develo the new technologies from the in-house ()*. The de endence of the com any on the collaboration is bad and we should have the self-reliance in the com any every time. Technology ac'uisition de ends on the olicy environment. ,ometimes the economic olicies do not allow the foreign countries to sell their goods and services in the domestic market. &n such times, the foreign com anies can get the financial returns only through the collaboration and selling the raw materials and com onents. Technology ac'uisition is the rocess by which a com any ac'uires the rights to use and e$ loit a technology for the ur ose of im roving or renewing rocesses,

roducts or services. &t does not include retailed or mass market off the shelf software which is generally governed by non-negotiable "shrink wra ed" licenses. Technology ac'uisition is mainly designed for business-to-business technology ac'uisition. &n few cases, technology comes from a university or research organi-ation. The origin of the technology can take lace in any area but it has ton be tested, roven and ready to use. Technology ac'uisition hel s for enhancing the roductivity of an organi-ation. The com any lanning for technology ac'uisition has to make the agreement between the two com anies and even the details of the costs are also resent as art of the a lication. Q/. Descri%e some characteristics of technology forecasting. E !lain in %rief a%out the si !hases in technology forecasting !rocess. Ans. Characteristics of technology forecasting4 Generally, there are some characteristics that are associated with technology forecasting. + technological forecast relates to certain characteristics such as levels of technical erformance .e.g., technical s ecifications including energy efficiency, emission levels, s eed, ower, safety, tem erature, so on/, rate of technological advances .introduction of a erless office, icture hone, new materials, costs, so on/. + technological forecast also relates to useful machines, rocedures, or techni'ues. &n articular, this is intended to e$clude the items intended for leasure or amusement from the domain of technological forecasting, since they de end more on ersonal tastes rather than on technological ca ability. + technology forecast can be for short-term, medium-term, and long-term. 'i !hases in technology forecasting !rocess 3dentification of needs( This is the first hase in technology forecasting rocess. +fter identifying the e$ ected out uts and the ob"ectives of the future, a thorough analysis is done in order to make sure the relevance of technology forecasting. This hase ends with a decision of technology forecast. 5re!are !ro2ect( This is the second hase in technology forecasting rocess. &n this hase, the forecasting activities that are lanned and resources are allocated. The roles of each human resource are carefully re ared and e$ lained. There are three human resources, clients, core tem and e$ternal artici ants. The client includes both customer and user of technology forecast. The core team erforms the activities like defining references, writing documents, creating the structure of the forecast and filling it. The core team co-ordinates the efforts of e$ erts from team, e$ternal artici ants and clients which hel to develo an entire forecast. The e$ternal artici ants hel in roviding data, information and e$ erience. The ma"or sources of information and data are identified in this hase. Define o%2ectives( This is the third hase in technology forecasting. This hase once again goes through the ob"ectives that are defined in the first and second hases. This hase decides the dimensions of the forecast. This includes both the normative and e$ loratory forecast. %e use normative forecast, when the desirable future is seen

and the normative forecast focus on finding the ath, from the resent to the desirable state. 5erform analysis and develo! Technology 6orecast 7T68( This is the fourth hase in the technology forecasting rocess. This is the central art of the resent research. &n this hase, we start with defining the boundaries of the technological system that has to be forecasted. +fter com leting the definition of the boundaries, we get a sha e of roblem and also the contradiction network. %e have to ca itali-e this set of roblems. The ne$t ste in the analysis and develo T# is the 0analysis of limitation of resources0. This hel s to find the resources that are less and causes roblems on the ma . ()* hel s to get the raw materials and solve the roblem. This also hel s in determining the time delays of the activities. The ne$t ste in the analysis and develo T# involves1 build the time diagram0. This uses the results that we get after the roblem ma ing. 9alidate results( The fifth hase in the technology forecasting rocess is to 0validate results0. This includes the customer satisfaction with the results of T#. There are different rocesses that are associated with the evaluation of the results of the forecast. Our ()* uses the traditional method of evaluating the result of forecast. %e can do eer review with the e$ternal e$ erts and our colleagues in between working hours of the forecast to make the evaluation easy. A!!lication of T6( The last hase in the technological forecast is the 0a lication of T#0. This de ends mainly on the needs and the formulated ob"ectives. %e have seen the develo ing of T(# using the contradiction networking. This hel s mainly in all the ro"ects.

Q1. Write a short note on technology strategy. E !lain in %rief a%out the innovation management. Ans. Technology 'trategy- %e can define technology strategy as a lanning document that e$ lains how technology should be utili-ed as art of an organi-ation2s overall business strategy. The document is usually created by an organi-ation2s technology manager and should be designed to su ort the organi-ation2s overall business lan. 3ost of the organi-ations use technologies in roduct and services2 generation, but all the organi-ations will not gain the ositive com etitive advantage from the technologies. There are many factors in com etition, and technology is only one factor among them. 4et, some firms effectively use technology as a com etitive advantage, and others do not. One im ortant factor in the successful use of technology is the role of general management in technology strategy. &n articular, it has been management0s ability to foster cor orate core technical com etencies. The central idea here is that a business can be develo ed around a long-term, consistent focus on a core technological com etency. %hat it means, is to have a core cor orate technical com etency, to lead in both innovating new-technology roducts and im roving manufacturing 'uality and lowering cost of these roducts. %ith this, not only roducts can be im roved, but also manufacturing rocess can be im roved in future generations of technology. Innovation Management- %e can define 5innovation management2 as the systematic rocesses that hel the organi-ations in develo ing new and im roved

roducts, services and business rocesses. This involves the use of creative ideas of an organi-ation2s em loyees that brings new innovations to the market lace, 'uickly and efficiently. &n business, innovation should not be only limited to the big ground breaking ideas, creative worksho s and roduct based com anies. &nnovation is often small, incremental changes to roducts, services and rocesses. The innovation involves all the managers from different de artments. This needs to be lanned and managed as a core business covering all arts of a business. This needs to be integrated at the strategic and o erational levels. The activities of the innovation need to be driven by the strategy and current business im eratives. The successful innovation culture consists of all the as ects of a business, and these as ects have to be managed effectively and efficiently like any other core business. &nnovation can be built into business, at three levels. The three levels are the annual business lanning rocess, 'uarterly innovation and day-to-day activities. &nnovation is managed through some sort of latform or a lication. There are two ty es of innovation tools that are, an electronic suggestion scheme, and a management system controlling the innovation rocess. The management of the innovation system needs to be given to the senior management to control the overall system of innovation. The best ractices and tools are a lied consistently and a ro riately across the organi-ation. +ny latform should encourage for the learning activity as a core feature. &nstalling the innovation culture in any of the com any has leaders and teams with ability and commitment. &n order to create culture of continuous innovation, the organi-ation re'uires leadershi and commitment from the senior management team. The management teams also see that some staff members in the organi-ation are rewarded for the innovative ideas they ut in. The senior management needs to encourage the innovative ideas from the staff.

Q+. What is the im!ortance of technology diffusion: What are the %enefits of technology a%sor!tion: Ans. 3m!ortance of technology diffusion- Technology diffusion lays a ma"or role in most of the countries today. The barriers to technology diffusion hel us to determine the magnitude of technology diffusion. These barriers determine the volumes of diffusion. *iffusion enlarges the set of available technologies and increases the roductivity of the country. &n case of diffusion, roductivity is determined by the domestic technology in the roduction country and the diffusion technology from other countries. The technology diffusion lays more im ortant role in the sector of goods that are not tradable, than the sector with the tradable goods. The free technology diffusion generates more gains com ared to that of the free merchandise trade. %e can increase the merchandise trade by removing the diffusion barriers since the countries achieve higher roductivity by taking the technology from the diffusion rocess. + well-managed technology diffusion system enables an organi-ation to lan its technology develo ment ro"ects in a more meaningful manner as well as transfer the technologies more successfully. ,uch an a roach results in better returns for the investments made in ()* and technology develo ment systems. *enefits of technology a%sor!tion-

 (e eated collaborations for the same roduct6 rocess are avoided. +c'uisition of further technologies becomes selective. +bility is develo ed to un ackaged the technology. ,avings can be affected in foreign e$change due to indigenisation 6use of indigenous alternatives. 7ffective utili-ation is made of available indigenous research e$ ertise and facilities to achieve the desired results. 8now-why and technology u gradation ca abilities are built-u . 7$ orts are increased. Technically com etent grou s of scientists and engineers trained in technology absor tion get matured and strengthened. The base for technological self-reliance is enhanced. Q;. E !lain the im!lementation of new technology. *riefly descri%e the automation decisions. Ans. 3m!lementation of &ew Technology- %e know that lanning is the key to success of a ro"ect. &n the same manner, a sound lanning is essential for the success of any technology2s im lementation. The failures that are likely to arise during the im lementation rocess may be due to the oor lanning or inade'uate resources. 9aluing the conflicts will facilitate the organi-ation to kee away from these roblems, and for the management, to antici ate the likely trouble s ots and ease it accordingly. 4ou must kee in mind some vital reliminary considerations. These considerations are: 3nitial considerations( The management of the business needs to understand that the new system alone cannot find solutions to all the roblems e$ erience by the organi-ation. The whole im lementation rocess involves the com lete business rocess and6or academic ractice, consumer services, communication with su liers and a relationshi among all other engrossed stakeholders. There are a number of lesssubstantial activities, which are critical and eo le those are involved must: !ave an understanding of the organi-ation redominantly, in terms of its traditions and rinci les are essential. The underlying rinci le of any new system im lementation should be able to rovide all the better services to all concerned through it. This information has to be conversed to all concerned arties. + com lete review of every business rocesses and, where re'uired, academic ractice, and develo ing and introducing new olicies before tuning the system to meet the decided re'uirements should be undertaken. The com lete a roval of the difficulty and fle$ibility of the system should be determined. The inbuilt dangers of customi-ation of any software should be understood.

 + thorough system test rocedures should be conducted, while acce ting the likely need for software malfunction and im rovements. The training and develo ment to be conducted for the internal staff should be lanned in advance. The users must be trained, to use the system. The users must be trained, to identify faults and correct freely. The essential nature of system documents has to be acce ted and retain accordingly. 5lanning and im!lementation( + thorough lan with efficient management is necessary for success, and to work against the fear of high costs, e$tended time, losing key ersons and common disa ointment with the result Go40ive Considerations( #inally, it is essential that the go live day causes as tiny disturbance to the daily business, since it is ractically ossible. The various issues arising at this oint of time will negatively affect the organi-ation2s status, sometimes irreversibly, with all stakeholders. Automation decisions- &n general, we can say that automation decisions are the decisions that are related to automation. The automation decision is considered most suitable for coherent, evidently defined decision situations. The automation decisions act like legal su ort systems that instantaneously solve and offer solutions to the recurring organi-ation roblems. They are directly related to business informatics and business analytics. The automated decisions are basically de endent on business rules. These rules can be sha ed or activated by business analytics. One of the com onents of automation decision su ort is rules-engine. #or the ur ose of o erational decision making, a rules-engine is used. The engine em loys actionable analytics and business rules to make and deliver ada ted alert. &n addition, it relates the business intelligence to business users or to create and deliver action messages for rocessing by o erational a lications. To handle a articular business situation, it roduces alerts and messages which might contain the announcement, warnings and suggested solution to solve a roblem. + rule engine can also be invoked by a user in real time to assist in business decisions, whether to fund a loan to the client or in roviding credit cards or to calculate the risk occurred in a articular business transaction. The current automation design decision systems are well suited for the decisions that have to be made often and ra idly, by the use of information that is available electronically. The chief consideration is that the knowledge and decision criteria used in these systems have to be highly structured. &f s ecialists are ca able of readily codifying the decision rules, and if remium data are accessible, the conditions are favourable for automating the decision.