Management technology has become a vital need of today’s generation with reference to the advent of and familiarity with a wide selection of expertise. In basic definition management technology can be defined as the management norms and rules that a company follows with respect to technological aspects, in order to achieve competitive advantage and consumer satisfaction. Frequent and regular research and development carried out by every firm in order to achieve the motive of profit maximization, and provide customers with commendable value. This technology will increase productivity and lead to efficiency only if it’s adequately managed and allocated through out the firm in question.
Management technology in firms usually comprises of managing the entire production process along with daily operations, project management, computer applications, quality control, safety and health issues, statistics, and general management principles (all related to the technological facets that a company covers). The largest contribution to the management technology sector was provided by the diffusion of innovations theory that came into existence in the 20th century. This theory suggests that all innovations follow an S shaped pattern, which includes emerging, growth, mature and aging. Current data has however, revealed something significantly different that some companies have an inverse shaped curve, which corresponds to a declining cost of technology per unit. For companies who have a separate management technology department this criterion will prove to of immense importance to determine planned strategies.
There are some common highlighted concepts that are a part of management technology; these comprise of technology strategy, where a company adopts a particular modus operandi regarding the technological handling associated with the company. Another important feature is technological forecasting, which is the criteria that a company uses to define what technologies are relevant in this current production process and capacity, and hence carry out research on those in particular. Technology road mapping is also an essential term with reference to allocating technologies to appropriate sectors within the business and in accordance with market needs. Lastly, a technology portfolio is what defines the current technologies under use by the firm, and how their distribution is guaranteed. Moreover, the Association of Technology, Management and Applied Engineering (ATMAE) is the only higher authority that accredits college programs and attests degrees granted by selective universities in Management Technology. A graduate can hence, be employed by companies as heads of their technology departments or they can sit for a rigorous and extensive exam, where successful candidates can be shortlisted as a Certified Technology Manager (CTM), a job which covers almost all aspects of management technology process.
Tips and comments
A selected little number of universities, in particular Polytechnic Institute of New York University, provide this degree, as it’s an extremely narrow one. Hence, few people opt for this major as an undergraduate degree, apprehensive about limited opportunities for employment. It is mandatory for companies to hold regular hiring and training seminars to provide absolute information regarding the progress in this sector. Workers currently employed in the management technology sector, should try their utmost to be highly efficient as will ensure increased profits and hence, higher likelihood of advancement.
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