BUSINESS MANAGEMENT

Technology Management & Operations Management

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Technology Management & Operations Management

Introduction

In this era of competition, competitiveness among organizations is increasing day by day. Organizations are competing with each other and try to achieve exceptional growth and expansions. Those organizations which are managing its resources efficiently and effectively are successful today but unless these organizations are technologically advanced their success can not be guaranteed. Technology Management and being Innovative is one of the remarkable signs of the successful and highly competitive organizations (Rastogi, G., Mathew, E., G., Kochikar et al., (2010)).

Technology management is fundamentally the management of technological resources that ensures the attainment of competitive advantage. Technology management is about developing technological strategies, technological forecasting models and technology projections portfolios so that organization may keep it update with the latest and updated technology. The core objective of technology management is to make understand, the value of certain technology that is most valuable for the organizational success. Continuous development of technology with innovation is highly crucial because as long an organization has the value for customer, it will remain sustainable. Technology management in an organization must therefore be focused to remain acceptable and sustainable (Anonymous (2007), web source).

Technology management and innovations are the integrated technological planning, designing, optimizing the operations and controlling the products, processes and service for technological advancement. There are certain programs that are associated with the technology management. The programs fundamentally include the instructions that are related to the production, operations management, computerized applications, quality assurances, statistics and general safety and health related issues management principles.

In the global economy, companies must focus on capacity building, technology advancement and innovations so that customer value may further enhance. Many of the Japanese companies have initiated the management of technology to utilize the outcomes of technology advancements in the most productive and efficient manner. New and advanced technology is a fundamental factor for the success of nations and companies. There are various companies that are employing their funds in research and development.

Japanese companies are focusing towards the research and development for enhancing its technological base and doing continuous innovations in the fields of operations so that these companies may achieve competitive advantage. However Research and Development sometimes do not bring the expected results the reasons may be overestimation of the technological advancement, less experience about the technological roadmaps and consistent investments to the same category of the product (Pavitt, K., 1990).

The renowned professor Drucker highlighted the some technological advancement aspects in his book, Innovation and Entrepreneurship that entrepreneurship must not only focus to the start up businesses but also by the corporations. Professor of Harvard University Clayton Christensen published a book The Innovators Dilemma, in which it is discussed that large corporations cannot maintain its entrepreneurial attitude. Because their core area of concentration is to achieve maximum sales volume so the corporations focuses on operational innovations. According to Professor Weber, start ups and Small Medium companies must work together for operational innovations and advancing the existing technology so that giant ...