TECHNOLOGY MANAGEMENT

Technology can be considered as a specific type of knowledge that may appear in explicit or tacit form (Gaynor, 1996; Phaal et al., 2004). Explicit technological knowledge can normally be codified in terms of texts, drawings, or formulas; embodied within a physical artefact, such as a machine, equipment, or product which always associated with hard sciences or engineering (‘Hard’ technology). Tacit technological knowledge cannot be easily articulated, and normally appear in the forms of experiences and skills. It is normally associated with the ‘soft’ aspect of technology such as innovation processes, organisational learning processes, and new product development and introduction processes (Phaal et al., 2004).
The management of technology is becoming increasingly important in today global competitive environment (Gaynor, 1996). According to the European Institute of Technology and Innovation Management, technology management addresses the effective identification, selection, acquisition, development, exploitation and protection of technologies (product, process and infrastructural) needed to achieve, maintain [and grow] a market position and business performance in accordance with the company’s objectives (EITM). This definition highlights the importance of establishing linkages between commercial and technological functions in order to achieve the business objectives. This requires effective knowledge management and supported by appropriate management tools or processes (Gaynor, 1996). However, there is lack of effective processes to technology management. Consequently many technological investment projects, such as on robotics, computer integrated manufacturing, and flexible manufacturing systems had failed (Gregory, 1995). The failure is not due to the technologies itself, but because the links between technology and strategy to satisfy the business needs were not well understood (Gregory, 1995). As a result, companies today are aware of the importance of technology strategy and concern about how to deploy and manage technology to support the goals of the business. Clearly, there is a need to understand the potential of existing and new technologies, integrate and exploit them to provide new capabilities, products and process in the context of business and corporate strategy (Roussel et al., 1991). Furthermore in a fast changing technological age, the frequent interaction between users, manufacturers and scientists to provide innovative capabilities is getting important. Periodical technological review may be changing from annual to day-to-day basis. Companies’ managers need to build-in the technology management process into their daily operating system and routine in order to ensure critical changes are closely monitored. In order to do that, there is an increasing industrial focus on management tools or methods that can satisfy the above needs (Phaal et al., 2004). An important aspect of such a method is that it encourages collective discussion among managers from different functional departments such as commercial and technology, and linkages between technology resources and company objectives. A technology roadmap process is an example of such a method that can be used for exploring and communicating the linkages between technological resources, company products, and business requirement.