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Introduction

to
Operations Management
PG 14 OPERATIONS MANAGEMENT

Dr Dileep Singh 1
Unit 1

Technology Management
Dr Dileep Singh 2
Session 2
Introduction to Technology Management

Course content
• Introduction to Technology Management

• Technology Life Cycles

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Introduction to Technology Management
 To understand Management of Technology, it is necessary to
clarify what we mean by management and what we mean by
technology and then explain management of technology.

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A few of the major definitions of technology include:

 The processes used to change inputs into outputs.


 The application of knowledge to perform work.
 The theoretical and practical knowledge, skills, and artifacts that
can be used to develop products as well as their production and
delivery system.
 The technical means people use to improve their surroundings
 The application of science, especially to industrial or commercial
objectives; the entire body of methods and materials used to
achieve such objectives

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Technology Life Cycles

The Technology Life-Cycle (TLC) describes the commercial gain of a


product through the expense of research and development phase, and the
financial return during its "vital life".
• Some technologies, such as steel, paper or cement
manufacturing, have a long lifespan (with minor variations in
technology incorporated with time)
• In other cases, such as electronic or pharmaceutical products,
the lifespan may be quite short.
• The technology life cycle is concerned with the time and cost of
developing the technology, the timeline of recovering cost, and
modes of making the technology yield a profit proportionate to the
costs and risks involved.

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The technology life cycle can be broken down into following distinct
phases/stages

Sta Technological Features Explanation


ge Stage

I Technology Basic Technology Basic technology is developed in the

Development research & development centre.

II Technology Technology + Various applications of new technology are

Application Application explored & planned

III Technology + Products, services & processes based on


Application
these applications are launched in the
Launch Application + markets.
Product Launch • At this point of time, usually they are not
fully developed.
• A number of alternate products, services
& process designs emerge & compete
with each other
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Dr Dileep Singh
The technology life cycle can be broken down into following distinct
phases/stages
Sta Technological Features Explanation
ge Stage

IV Technology + Based on feedback & requirements of


Application
markets, market –oriented applications are
Growth Application + offered.
Rise in Product  This is the period of consolidation when
the emphasis is on standardization,
Sale manufacturing efficiencies & economies
of scale of mass production.
 This leads to rise in product sales.

V Technology + Technology reaches its maturity stage &


Technological
rate of innovation slows down.
Maturity Application + Fall  While further development slows down.
in Product sales While further development is affected by
diminishing returns & rapid increase in
development costs, market become price
competitive & growth begins to level
out.

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The technology life cycle can be broken down into following distinct
phases/stages

Sta Technological Features Explanation


ge Stage
VI Minimal Product Many applications of the existing technology
Degraded
lose relevance due to arrival of some
Technology sales + Loss of alternative new technology.
application +
 At this point of time, there are minimal
Alternative sales of products/ services based on
Technology remaining surviving applications
considered somewhat useful by the
markets.

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