Technology management is a set of management disciplines that allows organizations to manage their technological fundamentals to create a competitive advantage. Typical concepts used in technology management are:
- Technology strategy (a logic or role of technology in the organization).
- Technology forecasting (identification of possible relevant technologies for the organization, possibly through technology scouting).
- Technology roadmap (mapping technologies to business and market needs).
- Technology project portfolio (a set of projects under development) and technology portfolio (a set of technologies in use).
The role of the technology management function in an organization is to understand the value of certain technology for the organization. Continuous development of technology is valuable as long as there is value for the customer and therefore the technology management function in an organization should be able to argue when to invest in technology development and when to withdraw.
The Importance of Technology Management within Organizations… Strategic IT leadership involves utilizing tools and techniques to successfully manage teams within the organization, collaborate effectively among different departments, and facilitate projects efficiently to address the needs of the organization.
The three forms of technology in the industry are product technology, process technology, and information technology. Together, these technologies allow businesses to develop products and services in an efficient manner and communicate both within the company and with customers. Product technology is the development of quality, safe and innovative products. It also includes the improvement of current products and examines the legality of products prior to putting them on the market.
Once a product is developed, process technology involves the effective production of the product and the manufacturing systems involved. The third, information technology, involves the storage and exchange of product information within the industry as well as communicating with clients.
Types of technology include information technology, medical technology, assistive technology, instructional technology, production technology, and teaching technology, according to the National Assistive Technology Research Institute. The technology utilizes equipment such as computers, mobile phones, multimedia, software, games, and apps. Email, blogs, texting, instant messaging, social networks, Twitter, and video conferencing are all forms of technology-mediated communication.
Medical technology involves the use of machines, robotics, and science for diagnosis and management of operations, such as dialysis, chemotherapy, and surgeries. Assistive technology includes the use of hearing aids, innovative eyewear, and prosthetic devices for the disabled. There are intelligent medication dispensers with alarms that remind patients to take medicine. For people to move from one place to another faster and easier, transport technology has introduced speed trains, highly efficient aircraft, and motor vehicles.
The technology of productivity employs equipment and cognitive machinery that speeds up occupational activities, such as mining, fishing, manufacturing, and farming. Similarly, home/workplace improvement technology, such as lifts, automatic door openers, ramps, and security apparatus, all fall under this category. Teaching technology involves the use of intellectual projectors, automatic page-turners, and audiovisual equipment for better learning. Other types of technology include space technology, waste management technology, cooking technology, and cleaning technology.
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