Management of Technology is an interrelated activity that needs to be integrated into a technology system. Management of Technology not only manages the system but it also manages the pieces which involve the integration of the ‘pieces’ into an acceptable “whole” by focusing on the pieces.

 

·         According to the 1987 workshop of the National Research Council (NRC) of Asia:

 

Management of Technology means a hidden competitive advantage that bridges the knowledge and practice gap between science, engineering, and business management (Khalil, 2001). In addition, Management of Technology is also a field that links the disciplines of engineering, science, and continuity to plan, develop, implement technological capabilities to shape and achieve the strategic and operational objectives of an organization.

In short, we can understand that this Management of Technology is about getting people and technology to work together to do what society wants, such as assembling systematic methods to manage knowledge application processes to expand human activities and produce designated products.

1.      ACQUISITION.

The acquisition is an activity based on buy-in-cooperation decisions made by technology as well as humans. In this acquisition activity, one can think about how a company acquires valuable technology for its business. In this case, too, the technology may be able to be developed internally through collaboration and possibly through external development.

 

2.      EXPLOITATION.

Exploitation can be said to be an activity that follows commercialization. By going through effective implementation, the absorption and operation of technology in the firm can give us the expected benefits. Technology is assimilated or incorporated through technology transfer whether it is from R&D manufacturing to manufacturing or from external manufacturing to -department manufacturing. Exploitation is also included in additional development, process improvements, and marketing.

3.      IDENTIFICATION.

Play activities for introduction are an indispensable part of the Management of Technology as it works for technology at all stages of development and market life cycle. This identification process includes market changes as well as technological developments. In addition, the identification includes search, auditing, and data collection and process intelligence for technology and marketing.

4.      LEARNING.

Learning is a critical pathway of technological competence which involves reflection on technology projects and processes within or outside the firm. Next, there are also strong links between this process and the field of frontier knowledge management.

5.      PROTECTION.

Protection activities are formal processes such as personnel and retention that need to protect intellectual assets in a firm including knowledge and expertise embedded in manufacturing products and systems.

6.      SELECTION. 

Selection is a strategic issue that is at the level of selected companies. The selection of these activities requires a good understanding of the strategic objectives and priorities developed at the strategic business level. The selection process is consistent with technology-related decisions with the business.

Technology strategy refers to the role of technology in a company or organization. In this regard, organizations have examined the logic of how technology will help business growth. This type of technology management requires objective setting and brainstorming tactics to achieve your specific business goals. Technology is the main focus here. For example, a company may decide to create their own technology, they will improve based on previously established innovations.

 

2.      TECHNOLOGY FORECASTING.

In technology forecasting, businesses identify technologies that can benefit them. Important for this procedure is to observe the technological environment carefully. Businesses need to keep an eye on the development of new technologies as well as new methodologies and approaches related to their current and future technologies.

 

3.      TECHNOLOGY ROADMAP.

Road-mapping type technology is a selfish technology with mapping the different ways in which the technology can be used. The concept of technology road mapping can place planning as a technology management center. Both technology strategy and technology road mapping can play a role in technology road mapping. For example, a company whose technology strategy is to build on existing technology needs to start mapping out short -term or long -term goals for that technology.

 

4.      TECHNOLOGY PROJECT PORTFOLIO.

The technology project portfolio includes all technology projects that are being developed by the business along with all the technologies that are being developed by the business along with all the technologies that are being used. In addition, business portfolios also need to analyze and consider the results. The functions of technology in building a portfolio include recognizing its strengths and weaknesses, figuring out what to prioritize, and assigning resources among other functions. Businesses that use a portfolio of technology projects are to invest wisely and capitalize on returns.