Technology Management Theory

Executive summary

Technology management for companies is about sustaining and improving a company’s competitiveness in the long term. Companies in recent decades are under constant pressure to be innovative and to introduce new and improved products or services to be competitive in today’s markets, and to improve their business performance, the goal of technology management is to sustain and improve the competitive position of a company’s technology exploitation and to create a synergy amongst production facilities within a company to make them work together in the most efficient way possible to produce a profitable outcome in the long term.

Technology management theory.

"Information technology investments create no more advantage or productivity, by themselves, than do investments in new machine tools. It is not technology, but technology-in-use, that creates value." (McGee & Prusak, 1993:130)

Technology management for companies is about sustaining and improving a company’s competitiveness in the long term. According to Kropsu-Vehkapera, et al. (2009:1) the goal of technology management is to sustain and improve the competitive position of a company’s technology exploitation and to create a synergy amongst production facilities within a company to make them work together in the most efficient way possible to produce a profitable outcome in the long term.

Companies in recent decades are under constant pressure to be innovative and to introduce new and improved products or services to be competitive in today’s markets, and to improve their business performance. Technology management, especially in the context of strategic management, refers to technological competence or knowledge rather than explicit technical solutions. The key implication is that the aim of technology management is to understand the real difference between competitive advantage achieved by technological competence and competitive advantage achieved by certain...