TECHNOLOGY MANAGEMENT

Module III

Technology Strategy and Management

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 Need for Technology Strategy
[Link] with business goals:
Technology strategy helps align technology
investments with the overall business
strategy,ensuring that the resources are directed
towards initiatives that will have the greatest
impact on the organisation’s success.
[Link] advantage:
It helps organisations identify the technologies that
are most critical to their success and prioritize
investments in those areas.

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[Link] Mitigation:
• Technology strategy helps organisations identify the
risks such as cyber threats,data breaches,system
failures etc and implement measures to mitigate
them , protecting the organisation’s assets and
reputation.
[Link] allocation:
Technology strategy helps organisations allocate
resources effectively, ensuring that they being used in
a way that aligns with the organisation’s goals and
objectives.

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[Link] and retention of talent:
A strong technology strategy can demonstrate
that an organisation is committed to investing in
its employees and their professional growth ,
making it more attractive to potential employees
and helping to retain existing talent.

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 Elements of Technology Strategy
[Link] and mission:
Vision and mission of the organisation form the
basis of the technology strategy and help guide
the organisation’s technology related decision
making.
[Link] and objectives:
It should clearly define the goals and objectives
of organisation and how technology will support
their achievement.

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[Link] and competitive analysis:
Understanding the market and competitive
environment is critical.

[Link] trends and innovations:

[Link] analysis:
Identify the internal and external factors that will
impact its technology strategy.

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[Link] Portfolio management:
-Assessing current technology assets
-determining which should be retained
,developed or discarded.

[Link] strategy:
-prioritise investments- targeting organisational
goals

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[Link] plan:
-Outline the steps required to implement the
plans
-How plans will be executed

[Link] and evaluation:

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 Benefits of Technology Absorption
Technology absorption refers to the process by
which an organisation acquires and implements
new technologies to improve its operations and
competitiveness.
It involves not only the adoption of new
technology but also the integration of that
technology into the organisation’s processes and
systems .

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Benefits,
[Link] efficiency:
• By absorbing new technologies ,organisations
can streamline their operations , reducing
costs and increasing efficiency.
• It results in improved productivity,better
utilization of resources and higher profits.

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[Link] competitiveness:
-Improves products ,processes and services.
-Absorption of new manufacturing technologies
can help organisations produce goods faster and
more efficiently.
[Link] customer experience
-Improve customer experience by enabling
organisations to offer new and innovative
products and services.

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[Link] decision making:
New technologies can provide organisations
with access to data and information that can be
used to make more informed decisions.
[Link] innovation:
Encourage innovation by providing organisations
with new tools and capabilities to solve
problems and develop new products and
services.

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[Link] to new markets:
Organisations can expand into new markets and
reach new customers.
[Link] and retention of talent:
Organisations that invest in technology can
attract and retain talented employees who are
interested in working with cutting edge
technologies.

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 Contraints in Technology Absorption
[Link] to change:
-Resist the adoption due to lack of
understanding of the technology,fear of job
loss,or simply a resistance to change.
[Link] of resources:
-may lack funding,manpower and expertise to
effectively absorb new technologies.

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[Link] challenges:
-Can be complex and time consuming
-Higher costs.
[Link] challenges:
-Require significant technical expertise and
knowledge to implement effectively.

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[Link] barriers:
-may be subject to regulations and standards.
-subject to privacy or security regulations.
[Link] of compactability:
New technlogies may not be compatible with
existing systems and processes.
[Link] factors:
-Cost of new technologies may not be affordable.
-Return on investment in new technologies may not
be sufficient to justify the costs.

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 TECHNOLOGY PACKAGE
• It is a combination of harware ,software and
services that are bundled together to provide a
complete solution for a specific business need.
• It will provide with a comprehensive solution that
includes all the necessary components and
support.
[Link]
[Link]
[Link]

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 Technological Dependence
• It refers to the reliance of an organisation on
technology to support its operations and
achieve its goals.
• This dependance can take many forms
including the use of technology for
communication, data storage, information
processing and decision making.

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Organisations can become technologically
dependent for variety of reasons,
[Link] functionality
2. Increased efficiency
[Link] integration
[Link] competitiveness

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 Indian experience in technology
absorption efforts
[Link] industry growth : India has emerged as a major
player in the global IT industry, with a large pool of
skilled professionals and a growing market for
technology driven services.
[Link] initiatives : The Indian government
has launched a number of initiatives to support
technogy absorbtion,such as National association
of software and services companies
(NASSCOM),which promotes the growth of the IT
industry in India.

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[Link] in research and development:
India has increased its investment in research
and development,with a focus on developing
new technologies in areas such as
AI,biotechnology and renewable energy.
[Link]-up Culture:
India has a vibrant start-up culture,with a
large number of young entrepreneurs
launching new technology driven businesses.

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 Challenges faced by India in its effort
to absorb new technologies
[Link] challenges:
- Lack of reliable electricity, internet
connectivity and transportation.
[Link] workforce shortage:
-Despite the large pool of skilled professionals
in India , there is still a shortage of skilled
workers in certain areas , such as
engineering,computer science etc.

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[Link] property protection:
India has struggled with protecting intellectual
property rights,which can limit the ability of
companies to invest in new technologies and
bring their products to market.
[Link] obstacles:
India’s bureaucratic obstacles can make it
difficult for companies to navigate the process
of absorbing new technologies,resulting in
delays and increased costs.
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 Initiatives by Governments around the world
for promoting technology absorbtion and
innovation.
[Link] incentives and subsidies:
Governments provide tax incentives and
subsidies to organisations that invest in new
technology to offset the cost of adoption.
[Link] development programs:
Governments invest in training and education
programs to equip individuals with necessary
technical skills to adopt new technology.

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[Link] and standards:
Governments establish regulations and
standards to ensure the safe and responsible
use of new technology,as well as to protect
data privacy and security.
[Link] and development funding:
Governments provide funding for R&D
initiatives to support the development of new
technology and to promote technological
innovation.

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 Technology policies
• Technology policies are government-led
initiatives aimed at guiding the development
and deployment of technology within a
country or region.
• The main purpose of these policies is to
promote economic growth, enhance social
well-being , and improve the quality of life for
citizens through the use of technology.

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Key areas covered by technology policies
[Link] and development(R&D)
[Link] development
[Link] and skill development
[Link] development
[Link] and standards.

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