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DRIVE
fall 2016
PROGRAM
MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER
IV
SUBJECT CODE & NAME
MI0040 – TECHNOLOGY MANAGEMENT
1
Describe the concept of technology management.
Explain
the various stages of strategic technology management system (STMS).
Concept of
technology management
Stages of strategic
technology management system
Answer: Technology
management can be defined as a process of planning, organising, selecting, and
controlling technological resources to maintain or increase the capability and
efficiency of an
2
Define technological innovation.
Explain
the different types of innovation on the basis of flexibility and in terms of
offerings.
Concept of
technological innovation
Types of
innovation on the basis of flexibility and in terms of offerings
Answer: According to the
Department of Trade and Industry, UK, innovation refers to “the successful exploitation of new ideas”.
In simple words, innovation refers to the invention and successful commercial
exploitation of their invention. Technological innovation is one of the ways of
gaining
3
Briefly explain the guiding principles of technology management.
Guiding
principles of technology management
Answer: Guiding
Principles of Technology Management
·
Value
Creation: It
should be the main intention of the new technology paradigm of an organisation.
Value creation creates demand for the products and services, which in turn
increases the profitability of an organisation. For example, various new
operating
4 With a neat diagram, explain the
various stages of technology life cycle.
Diagram
Various stages
of technology life cycle
Answer: Various stages of technology life cycle
5. a. Define strategy. Explain the
different approaches to strategic decision making.
b. Describe the different issues in
strategic decision making.
Concept of strategy
Approaches to strategic decision making
Issues in strategic decision making
Answer:
Igor Ansoff, known as the father of strategic
management, established the concept of strategy in the 1960s. A strategy can be
defined as a plan of action to achieve a set of pre-determined and specific
goals. The word ‘strategy’ originated from the Greek word ‘strategia’, meaning a military general.
There is
6.a. Explain the impact of technological
change on organisational productivity
b. Explain the impact of technological
change on education and knowledge acquisition
Impact of technological change on
organisational productivity
Impact of technological change on
education and knowledge acquisition
Answer:
Impact of Technological Change on Organisational Productivity:
Productivity refers to the amount of output at a given amount of input.
Technological change is part of the fundamental factors that can permanently
improve organisational productivity. It is a commonly accepted fact that better
tools and techniques yield
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