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Name: Nurshahidatul Nabila Binti Mustapa

* you can call me shai😊*

Age: 22

No Matriks: 293757

My adress: No 17 ps4/3 Taman Pinggiran Senawang 71450 Seremban, Negeri Sembilan

My hobby: Playing Badminton / food hunter

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Technology: Practical implementation of knowledge, products, processes, tools, and systems used for creating goods or providing services.

Management: Directing and controlling organizations to achieve objectives, including planning, organizing, staffing, and controlling.

Technology Management: The set of disciplines that help organizations manage technological advancements to gain a competitive

Importance of Technology Management:

Rapid technological changes and consumer sophistication shorten product life cycles.

Organizations must adapt by leveraging new technologies to maintain competitiveness.

Framework for Technology Management:

Links science, engineering, and management to create competitive advantages.

Firms need to decide whether to lead or follow in technology, develop or buy new technologies, and manage product scope and scale.

Roles of Firms in the Technology Environment:

Drivers: Creating new products/processes.

Beneficiaries: Adopting efficient technologies.

Facilitators: Investing in research.

Victims: Facing obsolescence due to competitors' technological advancements.

Technology Classifications:

New Technology: Recently implemented in organizations.

Emerging Technology: Not yet fully commercialized but expected to evolve soon.

High, Medium, and Low Technology: Varying levels of sophistication and R&D investment.

Appropriate Technology: Balance between technology level and resource optimization.

Key Processes and Decisions:

Managing technology involves designing products, understanding costs, marketing, and ensuring product acceptance.

Firms must choose whether to innovate internally or acquire external technology and how to scale their offerings.