1.Basics of MTIC

8/11/2019 1.Basics of MTIC

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Technology

Techno Logia

An art or Skill Science or Study

Thus, technology means systematic treatment of art or skill.

According to Oxford EnglishJ Dictionary, Technology is

application of scientific knowledge for practical purposes.


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What Technology is not:

Individual Know-how.

A basic technique available to all. A skill or knowledge that do not materialize

in manufacturing or production capabilities.

For Instance: Accounting, Marketing etc.


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Technology Management: A discipline of

management where in an organization

leverages the technological fundamentals tocreate competitive advantage.

Technology: Usage & knowledge of tools

and crafts to control or adapt to the

environment.


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Technology is a process which, through an explicit or

implicit phase of research and development allows for

commercial production of goods or services.

Scientific Knowledge

Research & DevelopmentExisting

TechnologiesProblems to be

solved

Technology


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Technology is developed through an explicit or

implicit research and development process, and later

does not necessarily need to be carried out within the

firm that applies the technology.

Technologies competence can be bought and sold

and in order to create competitive advantage a

company can combine in-house technologies with

other technologies purchased from an outside

supplier.


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Characteristics of Technology

It involves purposive application of various fields ofsciences and scientific knowledge.

It is used to provide objects (like products, machinery,

tools, services etc.) necessary for human sustenance

and comfort.

It is not restricted to hardware, but also includes

know-how and software.

It has both public and private components. Its publiccomponent can be freely used by all; whereas its

private component provides specific advantage to the

possessor/ owner.


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It is complex in nature. Complexity means that most

modern tools are difficult to understand. Some tools are

relatively easy to use, but difficult to comprehend as to

their source and means of manufacture, such as akitchen grinder and mixer.

It is dependent on other technologies. Dependency

refers to the fact that most modern tools depend on other

modern tools, which in turn, depend on still othermodern tools for their manufacture/ proper use. For Eg:-

Motorcycles.

Characteristics of Technology

Contd


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Science V/S Technology

SCIENCE TECHNOLOGY

1. Science deals with natural world.

1. Technology largely deals with the

human made world.

2. It mainly focuses on

understanding scientific

principles.

2. It mainly focuses on doing ie it is

application oriented.

3. It is public & universal knowledge. 3. It comprises both public & private

knowledge.

4. Scientific research & discovery

leads to increase of overall

scientific knowledge.

4. Technology development leads to

innovation of new products,

services or processes.

5. Utility of science does notundergo change with the passage

of time ie science does not enter

death stage.

5. Technology & the product, serviceor process associated with it,

undergo changes like the

biological concept of a Life cycle.


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6. Scientific research & discovery is

pursued even if costs may sometimes

exceed benefits, like heavy

expenditure by USA on spacemissions to understand evolution.

6. Technology development is many

times guided by cost v/s benefit

analysis.

7. Science is generally useful for all

human beings

7. Technology provides specific

advantages to its owner & users.

8. It precedes technology

development.

8. It succeeds / follows scientific

research & discovery.9. Examples :- Law of Gravity 9. Examples:- Information

Technology, Nano Technology.

Science V/S Technology

SCIENCE TECHNOLOGY


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Types of Technologies

1. Generic, Basic & Key Technologies

Generic Technology: It has fairly common use across the industry.

Greater the range of application more generic is the technology.

Eg:- Conveyors, Lubricants, Electronic Device Design etc.

Basic Technology: It provides a degree of strategic flexibility to a

particular user. Eg:- Use of Optical readers in assembly line for

quality control.

Key Technology: It is proprietary to the firm and provides it withcompetitive edge over others. It is not obtainable or available to

others in the market. Huge expenses and efforts are required to

be undertaken for their internal development or external

acquisition.


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2. Embodied and Disembodied Technologies

Embodied Technology: It is encapsulated in products and physical

equipments such as technology used in a manufacturing plant.

Disembodied Technology: It is mainly intangible in nature. There are

no specific products. It involves social or management sciences

instead of natural sciences. Eg: Quality assurance program in a

factory.

3. System and Infra Technologies

System Technologies: They evolve by combining different

technologies through information technology for development of

large number of different applications like Computer-Aided Flexible

Manufacturing System (FMS).

Infra Technology: These support research and development,

manufacturing and marketing functions in the industry. Eg:

Measurement and test method calibration procedures.


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4. Hybrid and Emerging Technologies

Hybrid Technology: This type of technology evolve by combining

together features of different technologies. Eg: Combiningphotography & digital technology in digital cameras.

Emerging Technology: This type of technology is under advanced

development stage and research has progressed far enough to

indicate a high probability of technical success for newapplications and new products in the next 10 years. Eg: Bio-

Genetic, Nano Technology.

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By Sandeepa Kaur 13

Managerial Functions of

Technology Management

1.Basics of MTIC

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