MBA

SEMESTER-3 CORE
TECHNOLOGY MANAGEMENT
BLOCK: 1

Dr. Beena Patel, Assistant Professor, M.C Shah Commerce College Ahmedabad
Dr. Krunal Soni, Associate Professor, GSFC University, Vadodara
Dr. Rupal Chaudhri, Assistant Professor, SRLIM, Surat
Dr. Dharmendra Mistry, Principal, M.C Shah Commerce College, Ahmedabad

Review (Subject): Prof. (Dr.) Manoj Shah, Professor& Director, Dr. BAOU, Ahmedabad
Prof. (Dr.) Ashish Joshi, Professor& Director PDPU, Gandhinagar
Dr. Hiren Patel, Assistant Professor, SRLIM, Surat

Review (Language): Dr. Nutan Kotak, Professor & Head Gujarat University, Ahmedabad

Prof. (Dr.) Manoj Shah

Professor and Director,
School of Commerce and Management,
Dr. Babasaheb Ambedkar Open University,
Ahmedabad.

Co- Name: Dr. Dhaval Pandya

Assistant Professor,
School of Commerce and Management,
Dr. Babasaheb Ambedkar Open University,
Ahmedabad.

Name: Dr. Ajaysinh Jadeja

Registrar,
Dr. Babasaheb Ambedkar Open University
'JyotirmayParisar',[Link] Temple,Chharodi,Ahmedabad,382481,
Gujarat,India.

Edition: 2024 (First Edition)

ISBN: 978-93-5598-713-6

All rights reserved. No part of this work may be reproduced in any form, by mimeograph or any other
means without permission in writing from Dr. Babasaheb Ambedkar Open University, Ahmedabad.
 Dr. Babasaheb Ambedkar Open University
(Established by Government of Gujarat)

TECHNOLOGY MANAGEMENT
MBA03C302
SEMESTER-3
BLOCK-1

Unit-1 01
Introduction to Technology Management (Aspects and Issues)

Unit-2 16
Technology Strategy and Competitiveness

Unit-3 26
Technology Acquisition, Adoption and Diffusion

Unit-4 32
Technology Assessment and Forecasting

Unit-5 42
Management of Technology Absorption and Government Initiative

BLOCK-2

Unit-6 52
Selecting and Implementation New Technology

Unit-7 61
Technology Generation and Development

Unit-8 84
Technology Transfer

Unit-9 102
Innovation Based Technology and Product Technology

Unit-10 109
Social Issues in Technology Management
 INTRODUCTION TO TECHNOLOGY MANAGEMENT
UNIT 1
(ASPECTS AND ISSUES)

1.1 Introduction
1.2 Definitions of Technology
1.3 Meaning and importance
1.4 Technology component
1.5 Classification of Technology
1.6 Concept of Technology Management
1.7 Importance of Technology management
1.8 Nature of Technology Management
1.9 Classification of Technology Management
1.10 Responding to technology challenge
1.11 How to Overcome Technological Challenges
Exercise

1.1 Introduction
Technology is the primary source of economic development. Technology plays very
crucial role in the development of the nation. The development of various technologies is
very essential for the growth of underdeveloped as well as developed countries. It helps to
get knowledge about the use of economic resources to produce goods and services more
efficiently. The economic growth has increased, and is becoming efficient due to the
advancement and improvement of technologies. In business, starting from production to
the profit of the business got advanced due to technologies. It has also helped in spreading
the business all over the world. Economic development also deals with the social well-
being of people and the economic growth of market production.
Technological advancement brings a change in the total production and productivity of
resources of the business. A positive change is good for the business for the productivity
and the profit of the business. An improvement in technology results in a requirement for
less costly inputs. Hence, it can be said that rapid growth can be achieved through high
technology levels. Due to rapid change in the technology, customer expects the same kind
of experience in a professional environment that they have with technology in their
personal lives. Technology is having various effects on labor markets which also
influences the business environment. Automation and digital advances are shifting labor
demand away from routine low- to middle-level skills to higher-level and more
sophisticated analytical, technical, and managerial skills. On the supply side, however,
equipping workers with skills that complement the new technologies has lagged,
hindering the broader diffusion of innovation within economies.
Consequently, Digital transformation in the world provides a more opportunity for
business functions, such as finance and Human Resource, to move away from manual

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 processes and automate key areas like payroll, enabling to focus on wider business
opportunities.
1.2 Definitions of Technology
The word "Technology" comes from two Greek words: techne (the skill or craft needed to
make something) and loges (discussion or knowledge of something). So Technology
means the knowledge of how something is made. An economist or a planner considers
technology as a knowledge used in production, commercialisation and distribution of
goods and services. Technology is embodied in various forms, such as, machinery,
equipment, documents, processes and skills and as such it conveys-different meanings to
different specialists under different contexts.
Technology is man-made; it is a means to enhance the physical and mental capability of
human beings, it is also an instrument to transform natural resources into useful goods; a
tool for conditioning the environment; it is a resource for creating more wealth; a factor
affecting development. Technology is also a commodity, which is bought and sold.
Innumerable technological developments have taken place in society during the last two
centuries and it is difficult, if not impossible, to enumerate all of them.
1.3 Meaning and Importance
Technology can be defined as all the knowledge, products, processes, tools, methods, and
systems employed in the creation of goods or in providing service. In simple term,
technology is the way we do things.
Technology is generally a combination of hardware and software with relative
proportions varying from one extreme to the other. Hardware is any physical product,
component or means, while software is the know-how, technique or procedure. Hardware
technology again can 'be of two types, namely: the end-use product type such as
automobiles, computers, televisions, and the production tool type such as instruments,
equipment and machinery. Software technology can also be considered as being of two
types, namely: the "know-how" type technology such as processes, techniques, methods;
and -why" type technology such as knowledge, skills and experience.
Technology is neither merely a product nor a process. It is now recognised as a means for
the survival, order and progress of the human world. Technology does not exist in
isolation. It exists in human surroundings. Every technology when applied causes some
alterations in its human surroundings. Most of these alterations have been beneficial to
the mankind. However, there have been some harmful effects as well. Technology is only
a means for development and not an end in itself. It is, therefore, essential that while
determining strategies for technological advancements, one must adopt an optimum
approach of maximising the positive or beneficial effects while at the same time
minimising the negative effects of technology, especially relating to atomic energy,
deforestation and ecological balance, total automation, artificial intelligence, etc.
According to Nawaz Sharif,' "Technology" is a "game" for the rich, a "dream" for the
poor, and a "key" for the wise.
Technology has been viewed differently by different people. Some view technology as a
source of wealth, well-being, and above, all, as an instrument of power to dominate nature
and societies. Others view technology as something that has enslaved human beings and

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destroyed jobs, environment and social values. While there is a considerable concern that
the use and abuse of technology is leading our societies towards disaster, there is also
considerable agreement that further development of human society is possible only
through the application of technology. If we can master its use, technology can be the
"key" to a prosper society for all human belongs including the poorest of the poor. Most
of the poor countries, in fact, are rich in natural resources. However, they have their basic
problems: (i) they have a relatively large population, which is increasing very rapidly; (ii)
their technological base is very small and ineffective; and (iii) their natural resource base
is being depleted due to inefficient use and indiscriminate export. To acquire and master
the use of technology for development, it is essential to understand the basic concepts of
technology and the process of effective technology management. The fact that we now
live in a technological world can be seen very easily by observing the ways and means of
satisfying "human needs" in various societies.
1.4 Technology Component
The components of technology can be defined in the following ways:
a) Hardware: The physical structure and logical layout of the equipment or machinery
that is to be used to carry out the required tasks.
b) Software: The knowledge of how to use the hardware in order to carry out the required
tasks.
c) Brainware: The reasons for using the technology in a particular way. This may be
referred to as the Know-Why.
d) Know-How: The learned or acquired knowledge of or technical skill regarding how to
do things well. Know-how maybe a result of experience, transfer of knowledge, or hands
on practice. People acquire technical know-how by receiving formal or informal
education or training or by working closely with an expert in a certain field. Know-how
can also be acquired through a recognized method of technology transfer.
1.5 Classification of Technology
Technology is making dynamic changes in various sectors. It changes very frequently and
having a profound impact on all sectors and businesses in the economy. Generally, the
advancement in technology has classified into various sectors in the world.
1. Technology in Communication area: Communication Technology is one of the
most common technologies which is used in our daily life. The recent
advancement in the sector of communication technology helps us to communicate
with each other without any disturbance. Through this technology, we can share
information and even exchange ideas from any person in the world in very little
time and with greater accuracy.
2. Technology in Construction Sector: Construction technology includes the building
of advanced and basic building structures through innovative equipment and
methods such as heavy tractors, drilling machines, computer software to design
the layout of the buildings, houses and bridges. With the help of technology in
construction sector enhance the efficiency of operational activities and avoid the
issues of accidents.

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 3. Technology in Healthcare Sector: Technology in the Healthcare sector is the most
effective and beneficial type of technology in the society as it mainly concerns
health issues as well as providing a healthy life of each and every individual.
These technology areas such as pharmaceuticals and Biotechnology helps to
provide the most effective way to diagnose and treat severe diseases. The major
innovation of healthcare technology is advanced machine, tools and equipment
such as MRI machines, CT-Scan, minimally invasive devices and many more. All
this equipment made an impact on the field of science. Also recent developments
in healthcare technology include telemedicine, robotic arm, cam pill, electronic
health recorder, genome sequencing, real-time PCR, augmented reality and virtual
reality.
4. Technology in the area of Education: The main motive of Education technology is
to enhance and improve the quality of learning of students by the use of various
technological resources. The advancement in the education sector helps students
to know about the, facts, correct information, deeper knowledge and
understandings of the subjects. Through smart classrooms, students can evaluate
their knowledge. It also helps to learn new languages, recent change in the world
economy and subjects with the help of educational materials.
5. Information Technology: Information Technology is one of the most important
and valuable technologies. This technology consists of software and hardware sets
that help to utilise, store and transfer information from one place to another. The
IT sector includes a management information system which is used to plan the
management and development of informative tools to enhance the work
performance of the workers. All the sectors in the economy using the technology
such as Banks also utilise information technology for operating and providing
high-quality services to their clients. Artificial intelligence (AI), robotics
technology, and super intelligence are the parts of information technology.
6. Space Technology: Space technology is developed by the aerospace sector. Space
technology is mainly used in satellites, space exploration and space rockets. Space
is an environment that requires special techniques and tools as numerous services
such as GPS systems, weather forecasting are dependent on this technology.
Space technology includes space stations, space crafts, and satellite and space
support equipment.
7. Technology in the area of Business: Business Technology is mainly associated
with the increment in the business. This technology helps to gather data and
achieve the goal of the organisation. Business technology consists of hardware
and software for enhancing business function and operations. The technology
sector offers a wide range of products and services for both customers and other
businesses. Consumer goods like personal computers, mobile devices, wearable
technology, home appliances, televisions, and so on are continually being
improved and sold to consumers with new features. On the business side,
companies are dependent on innovations coming out of the technology sector to
create their enterprise software, manage their logistics systems, protect their
databases, and generally provide the critical information and services that allow
companies to make strategic business decisions. The term "technology sector" is

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 frequently shortened to tech sector and is used interchangeably with the term
"technology industry or tech industry.
8. Agriculture Technology: Agriculture Technology consists of the equipment and
machinery which are used to increase the production and productivity of farming.
This includes tractors, pesticides, fertilisers, and soil tilling machines, irrigation
systems and many more. Through the advancements in agriculture technology,
farmers can enhance the productivity level of the crops and meet the requirements
of the people.
1.5.1 Definition of Technology Management
Technology is defined as the practical implementation of learning and (knowledge,
individuals and organisations to aid human endeavour. Technology is the (knowledge,
products, processes, tools and systems used in the creation of goods or in the provision of
services.
Technology is most widely used word today in industrial world and several words /
nomenclatures connected with technology are in vogue. It include Research &
Development, invention, innovation, technology development, technology strategies,
technology absorption and adaptation, technology transfer, technology forecast,
technology' assessment, technology planning, technology information, industrial property
systems, code of conduct, and technology management.
The definition identifies technology as an application of knowledge that leads to
production and marketing of goods and services. According to Betz, the Technology
develops business by providing technical knowledge for the goods and services that a
firm produces." Technological innovation implies new technology, creating new products
and services- business opportunities.
Managing technology means using new technology to create competitive advantages
which is quite a difficult job, partly due to differing cultures in a company. Yet,
successful business use of technology requires strategic decisions about technology by
personnel in other functional areas, such as production, marketing, sales, finance, and so
on. Thus, the two cultures-technical and functional-need to be bridged, and management
should integrate technology strategy with business strategy. This is the essence of
technology management.
Innovation and Invention: Invention is an idea for a novel product or process. Innovation
is the introduction of new products, processes or services into the market place.
Technological innovation is a sub-set of innovation i.e. the introduction of new products,
processes or services based on new technologies. The technological innovation begins
with invention. The first step is the idea of the invention and the research to reduce the
idea to practice. This often results in a functional proto-type, which can be used for filing
a patent. The next step is the research and development of the pro to-type into a
commercially designed product. Finally, the product is produced and sold. The distinction
between invention and innovation is an important one, for the transformation from ideas
into a successful product is actually difficult. The hard fact is that only a few inventions
are successfully innovated, with fewer inventions developed into new products, and still
fewer new products succeed commercially. The problem of managing technology thus

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 can be divided into two parts: (i) encouraging invention, and (ii) managing successful
innovation. Encouraging invention falls in the area of corporate research and managing
successful innovation falls in the area of managing technology.
1.5.2 Meaning of Technology:
According to Solomon, Technology Management is the capacity of a firm, a group or
society to master management of the factors that condition technical change so as to
improve its economic, social and cultural environment and wealth.' That technology
management is important becomes obvious if one considers both what the economists call
the "input" and the "output" aspects of technical change, namely, sources of modern
technology on one side and its pervasive impact on society on the other. These facts are
obvious for all countries. However, technology management is more important for those
countries which do not participate directly in the "input" aspects, or do so less intensively
than the industrialised countries, and are therefore necessarily less well-prepared to adjust
to and master the "output" aspects. This is the case today in most developing countries.
Management of technology (MOT) is an interdisciplinary field that integrates science,
engineering, and management knowledge and practice. The focus is on technology as the
primary factor in wealth creation. Wealth creation involves more than just money; it may
encompass factors such as enhancement of knowledge, intellectual capital, effective
exploitation of resources, preservation of the natural environment and other factors that
may contribute to raising the standard and quality of life. Managing technology implies,
managing the systems that enable the creation, acquisition and exploitation of technology.
It involves assuming responsibility for creating, acquiring, and spinning out technology to
aid human endeavors and satisfy customer needs. Research, inventions, and development
are essential components in technology creation and the enhancement of technological
progress. However, more important for the creating of wealth is the exploitation or
commercialization of technology. It is only when technology is connected with a
customer that its benefits are realized. A customer is a beneficiary and could be an
individual a corporation, or a government entity such as defense establishment.
Technology generates wealth when it is commercialized or used to achieve a desired
strategic or operational objective for an organization
1.6 Concept of Technology Management
The concept of technology management includes following technology strategy,
Technology governance Technology operations and technology innovation.
1. Technology strategy: It implies to a set of plans, decisions, and actions to manage its
technology resources and align them with its objectives. It should support the overall
business strategy and provide a roadmap for technology-related decisions and
investments. It involves assessing the current state of technology, identifying gaps and
opportunities, and formulating a plan to acquire, develop, deploy, and manage technology
resources to create competitive advantage and value for the organization.
I. Technology forecasting: Technology forecasting is a process of predicting future
technology trends and developments. It involves analyzing data, identifying
patterns, and predicting technology in a particular industry or field. It can help
enterprises identify emerging trends, anticipate disruptions, and remain
competitive in a rapidly evolving technological landscape. The decision-making

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 process can consider cost, compatibility with existing IT systems, scalability,
security, and performance.
II. Technology roadmap: The technological roadmap is a strategic plan that outlines
how a company plans to implement and adopt new technologies over a specified
period. It helps organizations prioritize and plan technology initiatives, allocate
resources and budget, and ensure alignment with strategic aims.
III.
scope, timeline, resources, and goals. It includes a list of all the tasks the
organization is currently undertaking and the ones planned for the future, and also
budgets, risks, and benefits.
2. Technology governance: It provides a foundation for developing and implementing
technology strategy. By establishing transparent governance processes and decision-
making structures, organizations can ensure that technology investments are aligned with
current goals, risks are managed effectively, and resources are allocated efficiently.
I. Standards and policies: These policies define the standards, best practices, and
procedures for technology use and management, including security, data
management, and privacy, compliance, and risk management.
II. Performance management: This measures and evaluates the performance of

objectives. It involves establishing metrics, monitoring performance, identifying

areas of improvement, and implementing changes to optimize performance.
III. Vendor management: It includes identifying potential vendors, negotiating
contracts, monitoring their performance, and ensuring providers comply with
established standards and policies.
3. Technology operations: Technology operations encompasses the day-to-day activities

ensures that technology systems function correctly and efficiently, providing technical
support to users, managing data centers, and overseeing the o
security. Technology operations also include operating hardware and software upgrades,
performing backups, and disaster recovery planning.
I. Infrastructure management: It involves planning, designing, implementing, and
maintaining the physical and virtual technology infrastructure components such as
servers, storage, clouds, network devices, databases, operating systems, and other
related software.
II. Data management: It refers to the set of processes, policies, and procedures
governing th
III. Application management: It includes installation, maintenance, troubleshooting,
upgrades, and support for the applications throughout their lifecycle. Effective
application management helps to improve productivity, reduce costs, and increase
the value of technology investments.
IV. Security management: It involves designing, implementing, and maintaining
security measures such as firewalls, intrusion detection and prevention systems,
access controls, and encryption to safeguard against cyber-attacks, data breaches,
and other security risks. Security management is critical for ensuring the