DBB3211 TECHNOLOGY MANAGEMENT

Description

SESSION	MARCH 2023
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	VI
COURSE CODE & NAME	DBB3211 – TECHNOLOGY MANAGEMENT

 

 

Assignment Set – 1

 

 

Case Study: Leveraging Technology for Competitive Advantage

In today’s fast-paced and competitive business landscape, organizations must strategically manage technology to maintain relevance and gain a competitive edge. Consider the following hypothetical scenario:

ABC Corporation, a leading player in the consumer electronics industry, is facing increasing competition and market saturation. As consumer preferences shift towards innovative, connected devices, ABC Corporation recognizes the need to leverage technology effectively to maintain its market position and drive growth.

Answer the following questions:

1. Provide a brief overview of the evolution of technology in the consumer electronics industry, highlighting key advancements and their impact on product development, market dynamics, and consumer behavior.
2. Discuss the potential challenges and risks associated with integrating new technologies into ABC Corporation’s product development process and strategies for mitigating these challenges.
3. Outline the stages involved in transforming technological innovations into marketable products within ABC Corporation, emphasizing the role of research and development (R&D), market research, and customer feedback.
4. Discuss the importance of managing intellectual property rights for ABC Corporation’s technological innovations, including patents, trademarks, and trade secrets.

Ans 1.

1. The consumer electronics industry has undergone a profound evolution driven by rapid technological advancements. From the introduction of transistor radios to the ubiquity of smartphones and smart home devices, key innovations such as miniaturization, connectivity, and digitization have reshaped product development, market dynamics, and consumer behavior. These advancements have not only facilitated the emergence of innovative products but also transformed business models, creating new avenues for revenue generation and customer engagement. For instance, the transition from analog to digital technologies has enabled the development of high-definition displays, immersive virtual reality experiences, and IoT-connected devices, catering to evolving consumer preferences for enhanced functionality, connectivity, and convenience.
2. Integrating new technologies into ABC Corporation’s product development process presents a myriad of challenges and risks. These may include the threat of technological obsolescence, substantial Its Half solved only

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2. Discuss the necessity and role of technological forecasting in the realm of innovation and technology management. Outline the classification of technological forecasting approaches, exploring their significance

Ans 2.

The Necessity and Role of Technological Forecasting in Innovation and Technology Management

In the dynamic landscape of innovation and technology management, where advancements occur rapidly, the necessity of technological forecasting cannot be overstated. Technological forecasting plays a pivotal role in guiding strategic decision-making processes, enabling organizations to anticipate future trends, mitigate risks, capitalize on opportunities, and maintain a competitive edge in the market.

Necessity of Technologic

 

 

3. What are the essential elements of a robust Technology Strategy, and why is it crucial for organizations? Discuss the principles that guide the formulation of a Technology Strategy, the types of strategies organizations can adopt, and the role of competitive advantage and innovation management in shaping effective technology strategies. 2+8

Ans 3.

A robust Technology Strategy is crucial for organizations to stay competitive, innovate, and adapt to the rapidly changing technological landscape. It encompasses a set of decisions and actions aimed at leveraging technology to achieve organizational goals efficiently and effectively. Below are the essential elements of a robust Technology Strategy and the reasons why they are crucial for organizations:

1. Alignment with Business Objectives: A technology strategy must be closely aligned with the overall business objectives of the organization. It should support the company’s mission, vision

 

Assignment Set – 2

 

 

Questions

Case Study: Integrating New Technologies for Organizational Growth

In the context of a rapidly evolving market landscape, GlobalTech Solutions (GTS), a multinational corporation specializing in information technology services, seeks to enhance its competitive position through the strategic adoption and effective management of new technologies. Consider the following hypothetical scenario:

2. Define technology transfer and explain its significance for GlobalTech Solutions in leveraging external knowledge and innovations to enhance its product offerings and services.
3. Evaluate different models of technology transfer, including traditional models, qualitative models, and other emerging models, and assess their suitability for GTS’s needs and objectives.

Ans 1.

1. Definition and Significance of Technology Transfer
2. Definition: Technology transfer refers to the process of disseminating, acquiring, or sharing knowledge, innovations, and technical know-how between different entities, such as organizations, industries, or countries. It involves the movement of technology from its original source to another entity, which can then adapt, implement, or further develop it for various purposes.

Significance for GlobalTech

 

3. Explore the integration of people and technology within GTS, considering factors such as organizational culture, leadership, and employee engagement. 3
4. Identify and discuss social issues related to technology, including the impact of technological change on industrial relations and the socio-economic implications of technology adoption within GTS. 4
5. Explain Moore’s Law and the technology S-curve, discussing their implications for technology adoption and innovation within GTS. 3

Ans 2.

Integration of People and Technology within GTS

1. Exploring Integration:

Within GTS, the integration of people and technology is essential for driving innovation, productivity, and organizational effectiveness. Several factors influence this integration:

• Organizational Culture: GTS should cultivate a culture that values creativity, collaboration, and continuous learning. A culture that embraces technological advancements and encourages experimentation fosters an environment where

 

 

4. Discuss the relationship between innovation and technology, outlining different types of innovation and their impact on organizational change and competitiveness within GTS. 3
5. Discuss the role of automation in technology implementation and its potential benefits and challenges for GTS. 4.
6. Explore knowledge-based technology management techniques, including knowledge management tools and artificial intelligence technologies, and their applications within GTS.

Ans 3.

Relationship between Innovation and Technology within GTS

1. Innovation and Technology Relationship:

Innovation and technology are intricately linked within GTS, with technology serving as a catalyst for innovation and vice versa. Different types of innovation, such as product innovation, process innovation, and business model innovation, have varying impacts on organizational change and competitiveness:

• Product Innovation: Product innovation involves the development of new or improved products and