SESSION MARCH 2023
PROGRAM BACHELOR of business administration (BBA)
SEMESTER VI
course CODE & NAME DBB3311 - TECHNOLOGY MANAGEMENT
CREDITS 4
nUMBER OF 02
ASSIGNMENTS & Marks 30 Marks each
SET-1
Que.-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. The consumer electronics business has seen a significant transformation propelled by
technical progress. In the beginning, gadgets were independent and specialized in individual
purposes such as radios and TVs. Nevertheless, the introduction of digital technology sparked a
significant transformation, resulting in the integration of different capabilities into networked
devices. The creation of increasingly advanced goods such as personal computers, smartphones,
and smart home gadgets was made possible by key developments such as microprocessors,
integrated circuits, and the widespread use of digitalization. This transition not only altered the
capabilities of the product, but also completely changed the way the market operates and how
consumers behave. Consumers now want cutting-edge, interconnected technologies that
seamlessly integrate into their everyday routines, leading to a preference for ease, connectedness,
and customisation. Consequently, the consumer electronics sector has seen a growing level of
competition, as businesses strive to deliver state-of-the-art technologies that meet the changing
demands and tastes of consumers.
2. Introducing novel technology into the product development process of ABC Corporation
entails several obstacles and potential hazards. These factors include elevated research and
development expenses, intricate technical nature, abbreviated duration of product viability, and
unpredictable reception in the market. In order to alleviate these issues, ABC Corporation might
use several techniques. First and foremost, cultivating a culture of innovation inside the firm
motivates people to actively engage in the exploration and experimentation of novel technology.
Moreover, establishing strategic collaborations or alliances with technology suppliers or startups
might assist in reducing risks linked to internal research and development endeavors. By doing
comprehensive market research, ABC Corporation may discover new trends and customer wants.
This enables them to connect their technical innovations with market requirements, hence
minimizing the risk of investing in irrelevant or obsolete technology. Implementing rapid
development procedures and rigorous quality assurance techniques guarantees prompt product
delivery and market readiness, minimizing the likelihood of technical obsolescence.
3. Transforming technical ideas into commercial goods within ABC Corporation encompasses
many phases. First, thorough research and development (R&D) activities are carried out to
investigate and create new technologies or enhance the ones already in existence. Market
research is essential for detecting customer wants, preferences, and emerging trends, and it
guides product development activities. During this phase, we aggressively seek and include
client input in product designs to ensure they correspond with market needs. Effective cross-
functional cooperation across research and development, marketing, and product development
teams is crucial for exchanging information and maintaining alignment between technology
capabilities and market needs. ABC Corporation leverages consumer insights and market input
to continuously enhance product features, usability, and performance. This iterative process
enables ABC Corporation to gain a competitive edge in the marketplace.
4. Managing intellectual property rights (IPR) is crucial for ABC Corporation to safeguard its
technical discoveries and sustain a competitive advantage. This includes obtaining patents for
innovative ideas, trademarks for brand recognition, and protecting trade secrets to maintain
technical superiority. via efficient management of intellectual property rights (IPR), ABC
Corporation may efficiently prevent unlawful use or duplication of its ideas, construct obstacles
for rivals to enter the market, and capitalize on its intellectual assets to generate money via
licensing agreements or strategic collaborations. Implementing proactive monitoring and
enforcement of intellectual property rights (IPR) serves as a deterrent against infringement and
safeguards the integrity of ABC Corporation's technical breakthroughs. This approach guarantees
the continuity of innovation and secures the company's position as a market leader.
Que.-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.:- Technological forecasting is crucial in the field of innovation and technology
management as it offers valuable insights into possible future advancements, trends, and
disruptions across different sectors. It assists companies in predicting changes in technological
environments, allowing them to make well-informed choices on resource distribution, research
and development expenditures, and strategic planning. technology forecasting is essential
because it helps reduce uncertainty, recognize new possibilities, and manage risks related to
technology breakthroughs. Through a methodical examination of historical patterns, present
trajectories, and knowledgeable perspectives, firms may predict future situations and adjust their
innovation plans in advance to maintain competitiveness in ever-changing marketplaces.
Technological forecasting methodologies may be categorized into many groups, each fulfilling
certain objectives and providing distinctive perspectives:
Trend analysis: This methodology entails analyzing past data and discerning recurring patterns or
trends in order to forecast future events. It utilizes quantitative techniques like statistical
modeling and time series analysis to predict technology advancement and rates of adoption.
Trend research offers significant insights into the progression of technologies and their potential
influence on sectors, aiding companies in predicting market changes and aligning innovation
activities appropriately.
Expert opinion: Expert-based forecasting utilizes the knowledge and proficiency of industry
experts, academics, and influential thinkers to evaluate technical developments and recognize
emerging patterns. Organizations often collect expert opinions by conducting surveys,
interviews, or expert panels, which enables them to access a wide range of viewpoints and
specialized expertise. Expert-based forecasting is especially beneficial in fast changing domains
where conventional data-driven methods may be inadequate, offering qualitative insights and
early indications of disruptive advances.
The Delphi method is a systematic technique used for technical forecasting. It consists of many
rounds of surveys and comments from a group of experts. Participants provide anonymous
replies to questions, and succeeding rounds improve the results by incorporating group
agreement. The Delphi technique facilitates the discovery of consensus viewpoints, mitigates
biases, and identifies areas of doubt or disagreement among experts. It offers businesses detailed
insights into possible future advancements and helps in reaching agreement in complicated
technology areas.
Scenario planning is a strategic process that entails creating many possible future scenarios by
considering various assumptions, uncertainties, and factors that influence change. It promotes the
exploration of many potential outcomes and their consequences, which enhances readiness for
future uncertainty. Scenario planning facilitates the identification of possible hazards and
possibilities linked to technology advancements, enabling firms to formulate adaptable strategies
and contingency plans to respond to evolving situations.
Technological forecasting is crucial for the management of innovation and technology as it
allows firms to predict future trends, uncertainties, and disruptions.
Que.-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.
Ans.:- A strong Technology Strategy is an essential plan that directs a firm in using technology
to accomplish its objectives, improve its competitive stance, and adjust to changes in its
surroundings. A complete Technology Strategy comprises many critical parts that are vital for
firms seeking to succeed in today's fast changing digital environment.
Primarily, a Technology plan should closely correspond with the organization's overarching
business plan. This alignment guarantees that technology investments and activities are closely
aligned with the wider aims and objectives of the company, rather than being separate and
disconnected. Moreover, it is crucial to have a comprehensive comprehension of the
organization's existing technical capacities and future requirements in order to develop a
Technology Strategy that is both practical and visionary.
Another vital component is the management of risks and the protection of computer systems
from cyber threats. In the present globalized environment, firms encounter a multitude of
cybersecurity threats and technology dangers that have the potential to undermine their
functioning and reputation. An effective Technology Strategy should include steps to minimize
these risks, such as adopting strong cybersecurity procedures, implementing data protection
safeguards, and assuring adherence to applicable legislation and standards.
Innovation and agility are essential elements of a successful Technology Strategy. Organizations
must constantly engage in innovation and adapt to technology developments and changing
market circumstances in order to sustain their competitive advantage. This may include
allocating resources towards research and development, cultivating a corporate environment that
encourages and supports innovative thinking, and adopting cutting-edge technology that might
potentially cause significant changes in their business.
When preparing for technology, it is crucial to consider scalability and adaptability. As firms
expand and develop, their technological requirements may shift, necessitating adaptable systems
that can handle growing amounts of data, users, and transactions. Moreover, adaptability is
crucial for promptly addressing emerging possibilities or obstacles, allowing the firm to change
direction and modify its technology strategy as necessary.
The design of a Technology Strategy is guided by principles that need a thorough comprehension
of the organization's industry, market dynamics, and competitive environment. This
comprehension aids strategic decision-making about technology investments, alliances, and
innovation activities. Moreover, adopting a customer-centric strategy guarantees that
technological solutions are specifically tailored to fulfill the requirements and preferences of the
organization's customers, therefore improving their overall experience and fostering loyalty.
Organizations have the ability to implement several technology strategies depending on their
objectives, available resources, and competitive position. For instance, a differentiation strategy
may concentrate on cultivating cutting-edge technology or distinctive attributes that distinguish
the business from its rivals.
Competitive advantage and innovation management are essential in designing successful
technological strategies. By using technology to distinguish themselves from rivals, firms may
establish enduring competitive advantages that allow them to acquire market share and stimulate
expansion. Innovation management is the process of ensuring that the firm stays ahead in terms
of technical breakthroughs.
SET-2
Que.-4:- 1. Define technology transfer and explain its significance for GlobalTech Solutions
in leveraging external knowledge and innovations to enhance its product offerings and
services.
2. 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. Technology transfer is the act of exchanging, spreading, and implementing
information, advancements, and technologies created in one setting or institution to another.
GlobalTech Solutions (GTS) places great priority on technology transfer as a means of using
external knowledge and innovations to improve its products and services. By using external
sources of expertise, such as academic institutions, research organizations, startups, or other
industry players, GTS may tap into a wider range of information and insights that go beyond its
own capabilities. This enables GTS to remain at the forefront of technical innovations, have
access to specialist knowledge, and expedite its innovation activities. Furthermore, technology
transfer allows GTS to expand its range of products, meet the demands of growing markets, and
distinguish itself from rivals by integrating innovative technologies and solutions into its offers.
Furthermore, via the cultivation of collaborations and partnerships with external organizations,
GTS has the ability to establish mutually advantageous connections, which will result in the
generation of value and the preservation of its competitive advantage in the ever-changing and
fast-paced IT services business.
2. There are several types of technology transfer, each with its own advantages and
disadvantages, designed to meet different organizational requirements and goals. Conventional
methods of technology transfer often include formal agreements, licensing, or spin-offs, when
intellectual property rights are transferred from one business to another in return for royalties or
equity shares. Although these models provide well-defined legal structures and attractive
financial rewards, they may be laborious, demanding in terms of resources, and have restricted
cooperation capabilities.
Qualitative models of technology transfer prioritize knowledge sharing, cooperation, and
informal networks, highlighting the significance of relationships and trust among partners. These
models include joint ventures, strategic alliances, and research collaborations, in which
information and experience are exchanged to jointly develop solutions and foster collaborative
innovation. Qualitative models provide GTS with the ability to adapt easily, move quickly, and
engage in reciprocal learning. This allows GTS to successfully use external information and
cultivate long-term collaborations.
New approaches to technology transfer use digital platforms, open innovation ecosystems, and
crowdsourcing processes to enable worldwide knowledge exchange and collaboration. These
models use the ideals of openness, transparency, and decentralization, allowing GTS to access a
wide variety of skills and ideas that go beyond conventional limitations. Although developing
models have the advantages of scalability, accessibility, and quick information transmission, they
may also present difficulties in terms of protecting intellectual property, maintaining quality
control, and ensuring cooperation.
Given GTS's requirements and goals, a hybrid strategy that integrates components from
conventional, qualitative, and emergent technology transfer models may be the most appropriate
choice. GTS can establish formal agreements for essential technologies, form strategic alliances
for collaborative research and development, and participate in open innovation ecosystems to
facilitate crowd-driven innovation.
Que.-5:- 1. Explore the integration of people and technology within GTS, considering
factors such as organizational culture, leadership, and employee engagement.
2. 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.
3. Explain Moore's Law and the technology S-curve, discussing their implications for
technology adoption and innovation within GTS.
Ans.:- 1. The integration of people and technology is crucial inside GlobalTech Solutions (GTS)
to cultivate an innovative culture, propel organizational performance, and attain sustainable
development. The organizational culture has a significant impact on how workers see and engage
with technology, affecting their openness to change and their acceptance of new tools and
procedures. The leadership of GTS has a crucial role in promoting technological innovation,
establishing the organization's stance on adopting technology, and creating a collaborative
atmosphere that encourages people to experiment, take risks, and explore novel concepts. In
addition, good leadership offers workers advice, direction, and assistance in adapting to
technological developments, ensuring that their actions are in line with the organization's goals
and objectives. GTS can develop a workforce that is skilled in using technology and actively
contributes to innovation by promoting continuous learning, offering skill development
opportunities, and seeking feedback from employees. This will help the organization succeed in
a rapidly changing digital environment.
2. One prominent social concern about technology in GTS is the influence of technical
advancements on industrial relations. With the adoption of new technology and the use of
automation, workers may have worries over job displacement, skills becoming obsolete, and
changes in job responsibilities. This may result in conflicts between management and employees,
as well as possible opposition to technical advancements. Furthermore, the socio-economic
consequences of implementing technology in GTS might include unequal access to training and
education for workers to adjust to new technologies, along with worries about the expanding gap
in income distribution and employment instability. To tackle these social issues, it is necessary to
take proactive steps such as implementing upskilling and reskilling programs, promoting
transparent communication, and fostering collaboration between management and labor unions.
These measures will ensure that technological changes are implemented in a way that benefits all
parties involved and minimizes any adverse social effects.
3. Moore's Law, established by Gordon Moore, one of the founders of Intel, in 1965, asserts that
the quantity of transistors on a microchip increases by around twofold every two years, resulting
in a twofold increase in computing capacity and a reduction in the cost per transistor. The
exponential increase in processing power has driven fast progress in technology, facilitating the
creation of more potent and affordable technologies throughout time. The technology S-curve
illustrates the common path of technical advancement, marked by a gradual start, followed by a
phase of fast expansion, and ultimately reaching a stable stage when the technology becomes
fully developed.
Having a comprehensive grasp of Moore's Law and the technology S-curve is essential for
predicting technological progress, strategizing research and development expenditures, and
successfully navigating market trends. GTS can strategically manage its technology adoption
efforts by acknowledging the exponential evolution of technology and its predictable
development trajectories.
Que.-6:- 1. Discuss the relationship between innovation and technology, outlining different
types of innovation and their impact on organizational change and competitiveness within
GTS.
2. Discuss the role of automation in technology implementation and its potential benefits
and challenges for GTS.
3. Explore knowledge-based technology management techniques, including knowledge
management tools and artificial intelligence technologies, and their applications within
GTS.
Ans.:- 1. Innovation and technology are interconnected ideas that drive organizational
transformation and competitiveness inside GlobalTech Solutions (GTS). Technology acts as a
catalyst for innovation by offering the necessary tools, platforms, and skills to build new
solutions, enhance processes, and provide value for customers. Various forms of innovation,
such as product innovation, process innovation, and business model innovation, use technology
in unique ways to facilitate organizational transformation and improve competitiveness. Product
innovation encompasses the creation of novel goods or services, using developing technology to
address changing client demands and preferences. Process innovation is centered on
strengthening internal processes, streamlining workflows, and increasing efficiency by using
technology tools and automation. Business model innovation is the process of rethinking the
methods by which value is generated, distributed, and obtained, often using digital platforms and
data-driven insights to establish groundbreaking business models. GTS may achieve
organizational transformation, cultivate a culture of ongoing development, and sustain its
competitive advantage in the continually changing technology services market by embracing
many forms of innovation and successfully using technology.
2. Automation plays a crucial role in the adoption of technology inside GlobalTech Solutions
(GTS), providing both advantages and difficulties. Automation refers to the use of technology to
carry out repetitive operations, simplify procedures, and enhance operational efficiency.
Automation in GTS may provide several advantages, including as heightened efficiency,
diminished operating expenses, heightened precision, and accelerated product and service
launch. GTS may enhance productivity by automating repetitive operations like data input,
system maintenance, and software testing. This allows staff to allocate their time and effort
towards more valuable endeavors such as innovation, problem-solving, and customer interaction.
Nevertheless, automation also poses some difficulties, including the need for initial investment in
technological infrastructure, the possibility of job displacement or the need for individuals to
acquire new skills, and apprehensions over data security and privacy.
3. Knowledge-based technology management approaches are essential for promoting innovation
and competitiveness in GlobalTech Solutions (GTS). Knowledge management solutions, such as
document management systems, collaboration platforms, and expertise databases, allow GTS to
acquire, retain, and distribute key insights, best practices, and lessons gained from previous
projects. These technologies enhance the exchange of information and cooperation among
workers, resulting in enhanced decision-making, problem-solving, and creativity across the firm.
In addition, artificial intelligence (AI) technologies, including machine learning, natural
language processing, and predictive analytics, provide increased capacities for discovering
information, recognizing patterns, and gaining insights from data inside GTS. Artificial
intelligence (AI) can automate repetitive knowledge management processes, such as labeling
material, finding information, and extracting knowledge.
