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Master of Business Administration - MBA Semester 4

OM0018 – TECHNOLOGY MANAGEMENT

Q.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
ANS:
Concept of technology management:
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 organisation.
According to the Association of Technology Management and Applied Engineering, technology
management is, “the field concerned with the supervision of personnel across the technical spectrum
and a wide

Q.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
ANS:
Concept of technological innovation:
“Innovation is the change that creates a new dimension of performance”.
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
competitive

Q.3: Briefly explain the guiding principles of technology management.

Guiding principles of technology management
ANS:
Guiding principles of technology management:
Principles act as a guiding force in the management of any operation. For instance, to execute the
marketing activities of an organisation, certain principles should be followed. These principles are value
creation, fulfilment of consumer needs, etc. Similarly, a new technology paradigm requires definite
guiding principles. Betz et

Q.4: With a neat diagram, explain the various stages of technology life cycle.
Diagram
Various stages of technology life cycle
ANS:
Diagram:

Q.5: a. Define technology transfer. Explain the steps involved in technology transfer process.
b. Explain the major categories of technology transfer
Concept of technology transfer
Steps involved in technology transfer process
Major categories of technology transfer
ANS:

Concept of technology transfer:

It involves the transfer of adoption of technology from the internal sources in the organisation or
implementing

Q.6: Explain the technological impacts on different aspects of society.

Technological impacts on society
Answer:

There occurs a cyclical relationship between technology and society.

Technology has brought

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