Management of Technology is interdisciplinary fields that integrate science, engineering, and management knowledge with practice. The main motive of managers is to create wealth using technology.
Technology management requires a deep understanding of life cycles of technology, product, process, and system. Technology management is also a tool to catalyze R&D.
By providing R&D team in R&D organization to an increased extent, it can generate more science from existing science and more technology from existing technology.
A management student should be a hybrid piece of both management as well as technology. Technology has important effects on business operations. Regardless of size of the enterprise, technology has both tangible and intangible benefits that will help you make money and produce the results your customers demand.
Technology infrastructure affects the culture, efficiency and relationships of a business. It also affects the security of confidential information and trade advantage.
The first and foremost technology that affects a firm’s ability is communication with a customer. In today’s business environment it is necessary for employees to interact with clients. Websites allow customers to find answers to their questions after hours. Fast shipment options allow businesses to move products over a large geographical area. Customers use towards technology to interact, benefits better communication which in turn creates a strong public image. Technology also helps a business understand its cash flow needs and preserve precious resources such as time and physical space.
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