MODULE 1: TECHNOLOGY AND TECHNOLOGY MANAGEMENT

Technology- evolution and growth of technology, technology management: concepts and definitions,
role and significance of technology management, impact of technology on society and business.
Technology and competition, organizing technology at the enterprise level, key issues in managing
technological innovation and forms of technology- process technology, product technology.

1.1 INTRODUCTION TO TECHNOLOGY

About 50 decades ago, Military was considered the strength of Nations and that drives the growth. But
today, the advances in technology developed, matured and adopted that decides the growth of nations
and to maintain sustainable development. Be it healthcare, Manufacturing, tourism or communication,
IT, Insurance, Education or industrial or similar sectors, advances in technology and its deployment
decides the future of business. Pandemic also was an eye opener for disruptive technologies enabling
new business models and post pandemic bible disruptions also. There are also instances of creators
being killed by careless use of Technologies.

Technology refers to the tools, methods, and systems created by humans to solve problems and
improve efficiency. It can encompass a wide range of fields, including information technology,
transportation, energy, medical, and many more. The development and use of technology has
revolutionized the way we live and work, and has had a profound impact on our society.

Information technology, for example, has transformed the way we communicate, access information,
and conduct business. The widespread use of the Internet and mobile devices has created new
opportunities for individuals and organizations, while also raising concerns about privacy, security, and
access to information.

Transportation technology has made it possible for goods and people to move more quickly and
efficiently than ever before. This has facilitated global trade, reduced transportation costs, and made it
easier for people to travel and connect with others around the world.

Advances in energy technology have led to new sources of energy and more efficient ways of
harnessing and using it. This has helped to meet the growing energy demands of a rapidly developing
world, while also reducing our dependence on finite and often polluting energy sources like fossil fuels.
Medical technology has dramatically improved health outcomes and increased life expectancy by
providing new treatments, diagnostics, and vaccines. This has made it possible to tackle previously
incurable diseases and improve the quality of life for millions of people.

Overall, technology is a driving force behind much of the progress and innovation we see in the world
today, and its continued development will be critical to addressing many of the challenges facing our
society in the years to come.
1.2 EVOLUTION TECHNOLOGY AND GROWTH OF TECHNOLOGY
Technology has been a part of human society for thousands of years, and has undergone a remarkable
transformation over that time. From the earliest stone tools and fire-making devices, to the
sophisticated technologies of the modern world, technology has played a critical role in shaping human
society and shaping our world. This article will provide an overview of the evolution of technology, and
will explore the factors that have driven this transformation over time.

The Earliest Technologies:

The earliest technologies were basic tools and devices that were used to meet basic needs, such as
food and shelter. These technologies included stone tools, fire-making devices, and early forms of
transportation, such as boats and sleds. These early technologies were simple and basic, but they were
critical to the survival and growth of human society.

The Agricultural Revolution:

The agricultural revolution was a major turning point in the evolution of technology, and marked the
beginning of a new era of technological growth and development. During this time new technologies
and innovations were developed, including the plow and irrigation systems, which revolutionized
agriculture and enabled humans to produce more food than ever before. The agricultural revolution
also enabled human societies to become more settled, and led to the development of new forms of
social and political organization.

The Industrial Revolution:

The industrial revolution was another major turning point in the evolution of technology, and marked
the beginning of a new era of technological growth and development. During this time, new
technologies and innovations were developed. including the steam engine, spinning jenny, and cotton
gin, which revolutionized the manufacturing process and created new economic opportunities. The
industrial revolution also saw the development of new forms of transportation, such as the steamboat
and train, which enabled goods and people to be transported more quickly and efficiently than ever
before.

The Electronic Age:

The electronic age was a major turning point in the evolution of technology, and marked the beginning
of a new era of technological growth and development. This era saw the development of new
technologies and innovations, including the telegraph, telephone, radio, and television, which
transformed communication and information exchange. The electronic age also saw the development
of new forms of transportation, such as the automobile and airplane, which further transformed the
way people and goods were transported.

The Computer Age:

The computer age was a major milestone in the evolution of technology, and marked the beginning of a
new era of technological growth and development. This era saw the development of new technologies
and Innovations, including the computer, internet and mobile phones, which transformed the way
people communicated, processed information, and conducted business. The computer age also saw the
development of new forms of entertainment, such as video games and streaming services, which
further transformed the way people consumed media and entertainment.

The Future of Technology:

The future of technology is uncertain, but it is likely that new technologies and innovations will
continue to emerge, transforming the way we live, work, and interact. Some of the key trends that are
likely to shape the future of technology include the growth of artificial intelligence and machine
learning, the rise of the Internet of Things, and the development of new technologies for energy and
transportation. These technologies have the potential to further transform the way people live and
work, and to drive economic growth and innovation for years to come.

1.3 TECHNOLOGY MANAGEMENT

Technology management refers to the process of managing and utilizing technology to achieve
organizational goals and objectives. It involves the planning, design, development, implementation, and
maintenance of technology solutions to support the business operations and strategies.

The primary goal of technology management is to ensure that technology is aligned with the
organization's needs and goals, and is used in the most effective and efficient way possible. This
requires a thorough understanding of the current and future technology trends, and the ability to
identify and implement solutions that meet the organization's needs.

Technology management involves several key elements:

1. Strategic planning: This involves technology strategy that aligns with overall mission, vision and
goals It involves identifying technology trends, assessing current technology solutions, and
developing a plan for future technology investments.
2. Project management: This involves planning, organizing, and managing technology projects to
ensure they are completed on time, within budget, and to the required quality standards.
3. Resource allocation: This involves determining the resources required to implement technology
solutions,including personnel, hardware, software, and budget.
4. Technology implementation: This involves the design, development, and deployment of
technology solutions, including hardware and software, to support business operations.
5. Technology maintenance: This involves ongoing management and maintenance of technology
solutions to ensure they remain effective and efficient over time.
6. Risk management: This involves identifying and managing the risks associated with technology
solutions, including security, data privacy, and system downtime.

Technology management requires close collaboration between technology and business leaders to
ensure that technology solutions support the organization's goals and objectives. It also requires a
deep understanding of the organization's operations,processes, and workflows, as well as the ability to
identify and implement solutions that meet the organization's needs.
Concept of Technology Management

The basic concept of technology management involves the following steps:

1. Identifying technology needs : This involves understanding the organization's goals and
objectives and identifying the technology solutions that can support them.
2. Evaluating technology options: This involves researching and evaluating various technology
solutions, considering factors such as cost, functionality and compatibility with existing systems.
3. Implementing technology solutions: This involves selecting the most appropriate technology
solution and putting it into action, including installation, configuration, and testing.
4. Managing and maintaining technology: This involves ensuring the technology is functioning
optimally, making any necessary updates or upgrades, and providing support and training to
users.
5. Measuring the impact of technology: This involves tracking and analyzing the impact of the
technology solution on the organization, and making adjustments as necessary.
In order to be successful, technology management requires a combination of technical knowledge,
business acumen, and strategic thinking. It also involves collaboration between technology and
business leaders to ensure that technology solutions are aligned with organizational goals and
objectives.

1.4 IMPACT OF TECHNOLOGY ON SOCIETY

In the past few decades, technology has grown rapidly. And the use of technology has also increased
drastically. It affects the life of people and changes the way of their learning, thinking, and
communication. It plays a major role in society, and now it is very tough to imagine life without
technology. Both technology and society are co-related, co-dependent, co- influence with each other.
Technology lays an impact on society, including the potential for society to progress or decline in both
good and bad manner. Our society is shaped by technology, which has both beneficial and harmful
consequences. Many societies and technology have grown inextricably linked since technical systems
like mobile phones, Computer TV, etc. are produced by humans and reflect the very basis of a
population's needs and lifestyle.

Although technology improves the lifestyle of human beings, it is also a major concern for the future
generations. Nowadays, people are excessively using technology which reduces their physical activities
that directly affect their health. Also, due to the excessive use of technology there are so many
cybercrimes happens everyday in which someone steals the identity or personal information of the
victim, such as Unique ID number, PAN number, Debit Card, etc., and uses it to conduct a crime or
perpetrate fraud without our permission.

Positive Impacts of technology on society:

Technology has a more positive impact on humans or society as compared to negative. It makes our life
easier and rewards us by providing resources or tools that make our life much easier.

Following are some positive changes that technology brings to our life:
Improved Communication: Communication is the most important part of society, we build or transfer
our thoughts with each other with the help of communication. Earlier people used pigeons or birds to
transfer their messages to their loved ones. After that technology slowly grows and the medium of
transferring information is changed to mobile phones, email, etc. Nowadays, we send messages to
loved ones or known people via email, social media platforms, etc. It is the fastest, efficient, and
effective medium. People can talk or share information with their loved ones easily even if they are
very far away from them.

Improved Education and learning process: Technology enhances the education and learning process.
Nowadays, people can easily enhance their knowledge using the internet. Most of the data that is
present on the internet is free of cost, and you can access this data anytime and anywhere.

Mechanized Agriculture: Technology changes the working mechanism of farmers. Lots of machines and
technical instruments were introduced in the agricultural area which makes farming very easy,
effective, automated, etc.

Easy to access information: We can easily access information via the internet anytime and anywhere.
Most of the information that is present on the internet is free of cost, so you can use them to enhance
your knowledge, skills, etc.

Negative Impacts of technology on society:

As we know that everything present on this planet has both advantages and disadvantages. The same
goes for technology. it also has negative impacts on society and some other negative impacts are:

Increase in unemployment: Nowadays, large and small businesses use machinery and technical
equipment because of their low costing and high efficiency due to which the rate of unemployment is
increasing continuously.

Increase in pollution: Not only humans but technology is also affecting our environment. Due to
vehicles and machinery, the rate of pollution is increasing continuously which causes global warming,
etc.

Increase in health and mental concerns: Nowadays, technology affects the physical as well as mental
health of human beings. It makes people lazy, emotionally weak, sleeping problems, reduces physical
activity, and also people are spending less time with their family and friends. Increase in cyber crimes:
Due to the excessive use of the internet, the rate of cybercrimes are also increased. Some people
(attackers) harm innocent people (victims) or children for money or fun.

1.5 IMPACT OF TECHNOLOGY IN BUSINESS

Technology has had a major impact on businesses in recent decades, transforming the way they
operate and compete in the marketplace. Some of the most notable ways in which technology has
impacted business include:
 1. Increased productivity: The widespread use of automation and artificial intelligence (AI) has
allowed companies to streamline their operations, reducing the time and resources required to
complete tasks and increasing overall efficiency. For example, many companies use automation
to process orders, manage their supply chain, and handle customer service inquiries.
2. Improved communication and collaboration: Technology has made it easier for businesses to
communicate and collaborate with employees, partners, and customers, regardless of
geographical distance. For example, cloud computing and video conferencing have made it
possible for teams to work together in real-time, regardless of where they are located.
3. Enhanced customer experience: Technology has also transformed the way businesses interact
with their customers, making it easier for them to reach new customers and build relationships
with existing ones. For example, e-commerce has made it possible for businesses to sell their
products and services online, and social media has provided new channels for businesses to
engage with customers and build brand awareness.
4. New revenue streams: Technology has opened up new opportunities for businesses to generate
revenue and reach new markets. For example, the rise of the gig economy has created new
opportunities for businesses to sell their services on platforms such as Airbnb and Uber, and the
growth of the app economy has allowed companies to monetize their software products in new
ways.
5. Increased competition: Technology has also increased competition in many industries, as
companies have to continuously innovate to stay ahead of the curve. For example, businesses
must now compete not only with traditional rivals but also with new entrants that are
leveraging technology to disrupt established business models.

While technology has brought many benefits to businesses, it has also had some negative impacts,
including:

1. Job displacement: The increased automation and use of artificial intelligence (AI) in the
workplace has increased. concerns about job displacement, as machines and algorithms replace
human workers. This has led to fears that many workers may become unemployed, or that
those who keep their jobs will have to adapt to new roles and responsibilities.
2. Income inequality: The automation of many jobs and the rise of the gig economy have also led
to concerns about income inequality, as some workers are paid more than others for equivalent
work. Additionally, the increasing reliance on technology has made it easier for companies to
outsource jobs to countries where labor is cheaper, exacerbating income inequality both within
and across countries.
3. Data privacy: The use of technology in business has also raised concerns about data privacy, as
companies collect and store vast amounts of personal and sensitive information about their
employees and customers. This has led to increased risk of data breaches and cyber attacks,
which can result in the theft of sensitive S information and significant financial losses.
4. Addiction and mental health: The widespread use of technology in the workplace and in
everyday life has also raised concerns about addiction and mental health, as people become
increasingly reliant on devices and social media. This can lead to decreased face-to-face
 interaction, reduced attention spans, and decreased physical activity, which can have negative
impacts on mental and physical health.
5. Security risks: As technology becomes increasingly integrated into business operations, it has
also created new security risks, such as cyber attacks and data theft. This can result in significant
financial losses and reputational damage for companies, and can also impact the privacy and
security of their customers and employees.
6. Integration challenges: Finally, the integration of new technologies into business operations can
also be challenging, requiring significant time, resources, and training. This can be especially
challenging for small and medium-sized businesses, which may lack the resources to invest in
new technologies.

1.6 ROLE AND SIGNIFICANCE OF TECHNOLOGY

Technology management plays a critical role in the success of modern businesses, as technology has
become an increasingly important driver of growth and innovation. The role of technology
management includes a variety of responsibilities, including:

1. Technology strategy development: Technology managers responsible for developing and

implementing a technology strategy that aligns with the overall business strategy. This includes
identifying the technology needs of the organization, evaluating available technologies, and
selecting those that will best support the business objectives.
2. Technology selection and implementation: Once the technology strategy has been developed,
technology managers are responsible for selecting and implementing the technology solutions
that best meet the needs of the organization. This may involve working with technology
vendors, conducting pilot projects, and coordinating the training and support required to
ensure the successful adoption of new technologies.
3. Technology operation and maintenance: Technology managers are also responsible for the
day-to-day operation and maintenance of technology systems and networks. This includes
ensuring that systems are secure and up-to-date, and responding to issues and incidents as they
arise.
4. Technology innovation: Technology managers also play a key role in promoting innovation
within the organization, by identifying new and emerging technologies that have the potential
to drive business growth. They also work to ensure that the organization has the necessary skills
and resources to take advantage of new technologies as they become available.
5. Resource management: Technology managers are responsible for managing the resources
required to support technology, including budgets, personnel, and equipment. They must also
ensure that resources are allocated efficiently and effectively to support the technology needs
of the organization.

The significance of technology management in modern businesses cannot be overstated. Technology

has become an increasingly important driver of growth and innovation, and technology managers play
a critical role in ensuring that technology is used effectively to support the business objectives. By
effectively managing technology, technology managers can help organizations stay competitive,
improve efficiency, and drive innovation.

1.7 TECHNOLOGY AND COMPETITION

Technology and competition are two important factors that shape the business world. Technology
refers to the tools, processes, and methods used to create, produce, and distribute goods and services.
It encompasses everything from basic tools and machinery to sophisticated digital systems and
software. Competition, on the other hand, refers to the rivalry between businesses for customers,
market share, and profits. Together, technology and competition play a major role in driving innovation,
efficiency, and growth in the economy. As technology advances, it creates new opportunities for
businesses to innovate and grow, and also raises the bar for competition. At the same time,
competition drives businesses to be more efficient and effective in their use of technology, as they
strive to gain an edge over their rivals.

Technology and competition are closely related, as technology 6 often drives competition in various
industries. Advances in technology can create new products and services, and can also improve existing
ones, which can lead to increased competition as companies try to differentiate themselves and gain
market share. Additionally, technology can also enable new forms of competition, such as through the
use of the internet and e- commerce. In turn, competition can also drive technological innovation, as
companies strive to gain an edge over their rivals through the development of new and improved
products and services.

The advantages of Competition in Technology

1. Innovation: Technology and competition drive innovation as companies strive to develop new
and improved products, services, and processes in order to gain an edge over their rivals.
2. Efficiency: Competition can drive businesses to be more efficient in their use of technology, as
they seek to reduce costs and improve productivity in order to remain competitive.
3. Consumer benefits: Competition can lead to lower prices, better quality, and more choice for
consumers, as businesses strive to offer the best products and services at the most attractive
prices.
4. Economic growth: Technology and competition can drive economic growth by creating new
industries and jobs, and by increasing productivity and living standards.
5. Globalization: Technology has enabled competition on a global scale, allowing businesses to
reach new markets and customers, and facilitating the flow of goods, services, and ideas across
borders.
6. Digitalization: Technology has enabled digitalization of many businesses and industries,
resulting in more efficient processes, automation, and cost savings.
7. Personalization: With the help of technology, businesses are able to personalize their offerings,
resulting in better customer experience and increased retention.
Disadvantages of Technological Competition

1. Disruption of traditional industries: Technology can disrupt traditional industries, leading to job
losses and economic upheaval as older business models and technologies are replaced
2. Inequality: The benefits of technology and competition may not be evenly distributed, leading
to greater income and wealth inequality.
3. Privacy and security concerns: The increased use of technology can raise privacy and security
concerns as personal data is collected and shared.
4. Dependence on technology: Businesses and individuals may become too dependent on
technology, making them vulnerable to disruptions or failures.
5. Impact on human interactions: Technology may reduce face-to-face interactions and social
connections, leading to isolation and loneliness.
6. Short-term focus: Competition may lead to a short-term focus on profits and market share, at
the expense of long-term sustainability and social responsibility.
7. Cost of entry and maintenance: Small businesses and new startups may find it difficult to
compete with larger, established companies due to the high costs of technology, such as
software and hardware.

1.8 ORGANIZING TECHNOLOGY AT THE ENTERPRISE LEVEL

Organizing technology at the enterprise level refers to the eff process of managing and utilizing
technology within a business pro or organization. This includes identifying and implementing the
necessary technology infrastructure, managing and maintaining technology systems, and ensuring that
the end technology is used effectively and efficiently to support the acc goals and objectives of the
organization. Organizing technology at the enterprise level also involves creating a technology strategy
that aligns with the overall business strategy and or making sure that the technology is integrated into
the overall str operations and processes of the organization.

Effective technology organization at the enterprise level requires a combination of technical expertise
and business eli acumen. It involves understanding the specific needs and challenges of the
organization, as well as the broader technological trends and developments that may impact the
business. It also involves working closely with various departments and stakeholders within the
organization to ensure that technology is being used in a way that supports the organization's goals and
objectives.

There are many different approaches to organizing technology at the enterprise level, and the best
approach will depend on the specific needs and resources of the organization. Some 1. common
approaches include centralized IT management, decentralized IT management, and outsourcing.

The importance of Enterprise Technology Management is as given below:

1. Alignment with business strategy: Organizing technology at the enterprise level ensures that
the organization's technology strategy aligns with its overall business strategy and supports its
goals and objectives.
 2. Improved efficiency and productivity: By effectively managing and utilizing technology,
organizations can improve the efficiency and productivity across their operations and processes.
3. Better decision making: Organizing technology at the enterprise level allows for better decision
making by providing accurate and timely data and information.
4. Enhanced customer experience: By using technology to support customer-facing operations
and processes, organizations can enhance the customer experience and build stronger customer
relationships.
5. Cost savings: Organizing technology at the enterprise level can help organizations save costs by
identifying and eliminating inefficiencies, reducing duplication of efforts and optimizing the use
of resources.
6. Innovation and competitiveness: Organizing technology at the enterprise level allows
organizations to stay current with technological trends and developments, and to innovate and
stay competitive in their industry.
7. Risk management: By effectively organizing technology organizations can manage and mitigate
potential technology- related risks and ensure the continuity of their operations.

1.9 TECHNOLOGY INNOVATION

Technology innovation refers to the development and implementation of new or improved technology.
This can include the creation of new products, processes, and materials as well as the advancement of
existing technologies.

Technology innovation plays a crucial role in driving economic growth and improving the quality of life
for people around the world. It can also lead to new industries and job opportunities and it enables
organizations to stay competitive in a rapidly changing business environment.

Technology innovation drives economic growth by creating new industries and job opportunities.

● It improves the quality of life by providing new and improved products and services.
● It allows organizations to stay competitive in a rapidly changing business environment.
● It can lead to increased productivity and efficiency.
● It can enable new scientific and technological discoveries.
● It can help address societal challenges such as healthcare, energy, and environmental
protection.
● can foster entrepreneurship and small scale business growth.
● It can promote the development of new skills and capabilities.
● It can improve communication and collaboration on a global scale.
● It can lead to more equitable access to information and resources.

1.10 KEY ISSUES IN MANAGING TECHNOLOGICAL INNOVATION

Managing technological innovation can be a complex and challenging task, and there are several key
issues that organizations need to consider in order to be successful:
 1. Balancing short-term and long-term goals: Organizations need to strike a balance between
investing in new technologies that can drive growth in the short term, and those that have the
potential to shape the future but may not generate immediate returns.
2. Embracing risk: Innovation often involves taking calculated risks, and organizations need to be
willing to embrace this risk-taking in order to reap the rewards. At the same time, they need to
have a robust risk management framework in place to minimize potential losses.
3. Securing funding: Developing and implementing new technologies can be expensive, and
organizations need to secure the funding required to support their innovation efforts. This may
involve seeking external funding from investors, or finding creative ways to fund innovation
from within the organization.
4. Managing the innovation pipeline: Organizations need to have a clear process for identifying,
developing, and commercializing new technologies. This deep understanding of the innovation
landscape, and the ability to prioritize initiatives based on their potential impact.
5. Building the right team: Innovation requires a dedicated and diverse team with the right skills,
experience, and mindset. Organizations need to be proactive in building a team that can drive
innovation and collaborate effectively with stakeholders across the organization.
6. Keeping up with the pace of change: Technology is evolving rapidly, and organizations need to
be agile and adaptable in order to keep pace with the latest developments. This requires a
culture that encourages continuous learning and experimentation.
7. Ensuring ethical considerations: As technology continues to advance, it is increasingly
important for organizations to consider the ethical implications of their innovation efforts. This
includes ensuring privacy, security, and compliance with relevant laws and regulations.

1.11 FORMS OF TECHNOLOGY: PRODUCT TECHNOLOGY & PROCESS TECHNOLOGY

Product technology and process technology are two different types of technology that organizations
use to develop and produce goods and services.

Product technology refers to the design, development, and production of physical products and
systems. It involves the creation of new products or the improvement of existing products through the
use of new materials, components, and manufacturing processes. The focus of product technology is
on creating products that are more functional, reliable, and efficient.

Product technology involves a wide range of activities, including research and development, design,
prototyping, testing manufacturing, and marketing. In the early stages of product development,
engineers and scientists conduct research and experimentation to determine the feasibility of new
products. This includes evaluating materials, components, and manufacturing processes to determine
the best approach for producing the product.

Once the research and development phase is complete, product technology moves into the design
phase. This is where engineers and designers create detailed blueprints and specifications for the
product, taking into account the materials, components, and manufacturing processes that will be
used. The design phase also includes the creation of prototypes and mockups, which are used to test
and refine the product before it goes into production.
Process technology, on the other hand, refers to the design, development, and implementation of
processes and systems that are used to produce goods and services. It involves the optimization of
production processes to make them more efficient, cost-effective, and environmentally sustainable.
The focus of process technology is on improving the quality of the production process and reducing
waste, rather than solely on the product itself.

Process technology involves a wide range of activities, including process design, process improvement,
and process control. In the process design phase, engineers and scientists work to optimize the
production process, taking into account factors such as raw materials, energy use, and labor costs. This
includes the selection of the best manufacturing equipment, process flow, and control systems to
ensure that the process is efficient and cost-effective.

In the process improvement phase, process technology focuses on continuously improving the
production process to increase efficiency and reduce waste. This includes the use of process control
systems to monitor production in real-time, as well as the deployment of continuous improvement
methodologies such as Lean and Six Sigma to identify and eliminate inefficiencies in the process.

Both product technology and process technology are important for organizations as they strive to
innovate and improve their products and production processes. Product technology can lead to the
development of new and improved products, while process technology can help organizations increase
efficiency, reduce costs, and improve the overall quality of their products.