MODULE-1: TECHNOLOGY & TECHNOLOGY

MANAGEMENT
1.1 INTRODUCTION TO TECHNOLOGY
About 50 decades ago, Military was considered strength of Nations and that drives the growth.
But today, the advances in technology developed, matured and adopted that decides the
growth of nations and to maintain sustainable development. Be it healthcare, Manufacturing,
tourism or communication, IT, Insurance, Education or industrial or similar sectors, advances
in technology and its deployment decides the future of business. Pandemic also was an eye
opener for disruptive technologies enabling new business models and post pandemic bible
disruptions also. There are also instances of creator being killed by careless use of
Technologies.
Technology refers to the tools, methods, and systems created by humans to solve problems
and improve efficiency. It can encompass a wide range of fields, including information
technology, transportation, energy, medical, and many more.
The development and use of technology has revolutionized the way we live and work, and has
had a profound impact on our society.
Information technology, for example, has transformed the way we communicate, access
information, and conduct business. The widespread use of the Internet and mobile devices
has created new opportunities for individuals and organizations, while also raising concerns
about privacy, security, and access to information.
Transportation technology has made it possible for goods and people to move more quickly
and efficiently than ever before. This has facilitated global trade, reduced transportation costs,
and made it easier for people to travel and connect with others around the world.
Advances in energy technology have led to new sources of energy and more efficient ways of
harnessing and using it. This has helped to meet the growing energy demands of a rapidly
developing world, while also reducing our dependence on finite and often polluting energy
sources like fossil fuels.
Medical technology has dramatically improved outcomes and increased life expectancy by
treatments, diagnostics, and vaccines. This has made it possible to tackle previously incurable
diseases and improve the quality of life for millions of people.
Overall, technology is a driving force behind much of the progress and innovation we see in
the world today, and it’s of continued development will be critical to addressing many the
challenges facing our society in the years to come.

1.2 EVOLUTION & GROWTH OF TECHNOLOGY:

Technology has been a part of human society for thousands of years, and has undergone a
remarkable transformation over that time. From the earliest stone tools and fire-making
devices, to the sophisticated technologies of the modern world, technology has played a
critical role in shaping human society and shaping our world. This article will provide an
overview of the evolution of technology, and will explore the factors that have driven this
transformation over time:

• The Earliest Technologies:

Notes by Farhan V.S.

Department of Mechanical Engineering.
 The earliest technologies were basic tools and devices that were used to meet basic
needs, such as food and shelter. These technologies included stone tools, fire-making
devices, and early forms of transportation, such as boats and sleds. These early
technologies were simple and basic, but they were critical to the survival and growth of
human society.

• The agricultural Revolution:

The agricultural revolution was a major turning point in the evolution of technology, and
marked the beginning of a new era of technological growth and development. During this
time, new technologies and innovations were developed, including the plow and irrigation
systems, which revolutionized agriculture and enabled humans to produce more food than
ever before. The agricultural revolution also enabled human societies to become more
settled, and led to the development of new forms of social and political organization.

• The Industrial Revolution:

The industrial revolution was another major turning point in the evolution of technology,
and marked the beginning of a new era of technological growth and development. During
this time, new technologies and innovations were developed, including the steam engine,
spinning jenny, and cotton gin, which revolutionized the manufacturing process and
created new economic opportunities. The industrial revolution also saw the development
of new forms of transportation, such as the steamboat and train, which enabled goods and
people to be transported more quickly and efficiently than ever before.

• The Electronic Age:

The electronic age was a major turning point in the evolution of technology, and marked
the beginning of a new era of technological growth and development. This era saw the
development of new technologies and innovations, including the telegraph, telephone,
radio, and television, which transformed communication and information exchange. The
electronic age also saw the development of new forms of transportation, such as the
automobile and airplane, which further transformed the way people and goods were
transported.

• The Computer Age:

The computer age was a major milestone in the evolution of technology, and marked the
beginning of a new era of technological growth and development. This era saw the
development of new technologies and innovations, including the computer, internet, and
mobile phones, which transformed the way people communicated, processed information,
and conducted business. The computer age also saw the development of new forms of
entertainment, such as video games and streaming services, which further transformed
the way people consumed media and entertainment.

• The Future of Technology:

The future of technology is uncertain, but it is likely that new technologies and
innovations will continue to emerge, transforming the way we live, work, and interact.
Some of the key trends that are likely to shape the future of technology include the
growth of artificial intelligence and machine learning, the rise of the Internet of Things,
and the development of new technologies for energy and transportation. These
technologies have the potential to further transform the way people live and work, and to
drive economic growth and innovation for years to come.

Notes by Farhan V.S.

Department of Mechanical Engineering.
1.3 TECHNOLOGY MANAGEMENT:
Technology management refers to the process of managing and utilizing technology to achieve
organizational goals and objectives. It involves the planning, design, development,
implementation, and maintenance of technology solutions to support the business operations
and strategies.
The primary goal of technology management is to ensure that technology is aligned with the
organization's needs and goals, and is used in the most effective and efficient way possible.
This requires a thorough understanding of the current and future technology trends, and the
ability to identify and implement solutions that meet the organization's needs.
Technology management involves several key elements:
• Strategic planning: This involves developing a technology strategy that aligns with the
organization's overall mission, vision, and goals. It involves identifying technology trends,
assessing current technology solutions, and developing a plan for future technology
investments.
• Project management: This involves planning, organizing, and managing technology
projects to ensure they are completed on time, within budget, and to the required quality
standards.
• Resource allocation: This involves determining the resources required to implement
technology solutions, including personnel, hardware, software, and budget.
• Technology implementation: This involves the design, development, and deployment of
technology solutions, including hardware and software, to support business operations.
• Technology maintenance: This involves ongoing management and maintenance of
technology solutions to ensure they remain effective and efficient over time.
• Risk management: This involves identifying and managing the risks associated with
technology solutions, including security, data privacy, and system downtime.
Technology management requires close collaboration between technology and business
leaders to ensure that technology solutions support the organization's goals and objectives. It
also requires a deep understanding of the organization's operations, processes, and
workflows, as well as the ability to identify and implement solutions that meet the organization's
needs.
Concepts of Technology Management
The basic concept of technology management involves the following steps:

• Identifying technology needs: This involves understanding the organization's goals and
objectives and identifying the technology solutions that can support them.
• Evaluating technology options: This involves researching and evaluating various
technology solutions, considering factors such as cost, functionality, and compatibility with
existing systems.
• Implementing technology solutions: This involves selecting the most appropriate
technology solution and putting it into action, including installation, configuration, and
testing.
• Managing and maintaining technology: This involves ensuring the technology is
functioning optimally, making any necessary updates or upgrades, and providing support
and training to users.

Notes by Farhan V.S.

Department of Mechanical Engineering.
• Measuring the impact of technology: This involves tracking and analysing the impact of
the technology solution on the organization, and making adjustments as necessary.
In order to be successful, technology management requires a combination of technical
knowledge, business acumen, and strategic thinking. It also involves collaboration between
technology and business leaders to ensure that technology solutions are aligned with
organizational goals and objectives.

1.4 IMPACT OF TECHNOLOGY ON SOCIETY:

In the past few decades, technology grows rapidly. And the use of technology is also increased
drastically. It affects the life of people and changes the way of their learning, thinking, and
communication. It plays a major role in society, and now it is very tough to imagine the life
without technology. Both technology and society are co-related, co-dependent, co- influence
with each other. Technology lays an impact on society, including the potential for society to
progress or decline, in both good and bad manner. Our society is shaped by technology, which
has both beneficial and harmful consequences. Human-societies and technology have grown
inextricably linked since technical systems like mobile phones, computers, TV, etc. are
produced by humans and reflect the very basis of a population's needs and lifestyle.
Although technology improves the lifestyle of human being, it also a major concern for the
future generations. Nowadays, people are excessively using technology which reduce their
physical activities that directly affect their health. Also, due to the excessive use of technology
there are so many cybercrimes. happens every day in which someone steals the identity or
personal information of the victim, such as Unique ID number, PAN number, Debit Card, etc.,
and uses it to conduct a crime or perpetrate fraud without our permission.
Positive Impacts of technology on society:
Technology has a more positive impact on humans or society as compared to negative. It
makes our life easier and reward us by providing resources or tool that make our life much
easier.
Following are some positive changes that technology brings to our life:

• Improved Communication: Communication is the most important part of society, we build

or transfer our thoughts with each other with the help of communication, Earlier people
used pigeons or birds to transfer their messages to their loved ones. After that technology
slowly grows and the medium of transferring information is changed to mobile phones,
email, etc. Nowadays, we send messages to loved ones or known people via email, social
media platforms, etc. It is the fastest, efficient, and effective medium. People can talk or
share information. with their loved ones easily even if they are very far away from them.
• Improved Education and learning process: Technology enhances the education and
learning process. Nowadays, people can easily enhance their knowledge using the
internet. Most of the data is present on the internet is free of cost, and you can access this
data anytime and anywhere.
• Mechanized Agriculture: Technology changes the working mechanism of farmers. Lots of
machines and technical instruments were introduced in the agricultural area which makes
farming very easy, effective, automated, etc.
• Easy to access information: We can easily access information via the internet anytime and
anywhere. Most of the information is present on the internet are free of cost, so you can
use them to enhance your knowledge, skills, etc.

Notes by Farhan V.S.

Department of Mechanical Engineering.
Negative Impacts of technology on society:
As we know that everything present on this planet has both advantages and disadvantages.
The same goes for technology, as it also has negative impacts on society and some other
negative impacts are:

• Increase in unemployment: Nowadays, large and small business uses machinery and
technical equipment because of their low costing and high efficiency due to which the rate
of unemployment is increasing continuously.
• Increase in pollution: Not only humans but technology also affecting our environment. Due
to vehicles and machinery, the rate of pollution is increasing continuously which causes
global warming, etc.
• Increase in health and mental concerns: Nowadays, technology effecting the physical as
well as mental health of human beings. It makes people lazy, emotionally weak, sleeping
problems, reduce physical activity, also people are spending less-time with their family and
friends.
• Increase in cybercrimes: Due to the excessive use of the internet, the rate of cybercrime
are also increasing at an exponential rate. Some people (attackers) harm innocent people
(victims) or children for money or fun.

1.5 IMPACT OF TECHNOLOGY IN BUSINESS

Technology has had a major impact on businesses in recent decades, transforming the way
they operate and compete in the marketplace. Some of the most notable ways in which
technology has impacted business include:

• Increased productivity: The widespread automation and artificial intelligence (AI) has
allowed companies to streamline their operations, reducing the time and resources
required to complete tasks and increasing overall efficiency. For example, many
companies use automation to process orders, manage their supply chain, and handle
customer service inquiries.
• Improved and communication collaboration: Technology has made it easier for businesses
to communicate and collaborate with employees, partners, and customers, regardless of
geographical distance. For example, cloud computing and video conferencing have made
it possible for teams to work together in real-time, regardless of where they are located.
• Enhanced customer experience: Technology has also transformed the way businesses
interact with their customers, making it easier for them to reach new customers and build
relationships with existing ones. For example, e-commerce has made it possible for
businesses to sell their products and services online, and social media has provided new
channels for businesses to engage with customers and build brand awareness.
• New revenue streams: Technology has opened up new opportunities for businesses to
generate revenue and reach new markets. For example, the rise of the gig economy has
created new opportunities for businesses to sell their services on platforms such as Airbnb
and Uber, and the growth of the app economy has allowed companies to monetize their
software products in new ways.
• Increased competition: Technology has also increased competition in many industries, as
companies have to continuously innovate to stay ahead of the curve. For example,
businesses must now compete not only with traditional rivals but also with new entrants
that are leveraging technology to disrupt established business models.

Notes by Farhan V.S.

Department of Mechanical Engineering.
While technology has brought many benefits to businesses, it has also had some negative
impacts, including:

• Job displacement: The increased automation and use of artificial intelligence (AI) in the
workplace has raised concerns about job displacement, as machines and algorithms
replace human workers. This has led to fears. that many workers may become
unemployed, or that those who keep their jobs will have to adapt to new roles and
responsibilities.
• Income inequality: The automation of many jobs and the rise of the gig economy have also
led to concerns about income inequality, as some workers are paid more than others for
equivalent work. Additionally, the increasing reliance on technology has made it easier for
companies to outsource jobs to countries where labor is cheaper, exacerbating income
inequality both within and across countries.
• Data privacy: The use of technology in business has also raised concerns about data
privacy, as companies collect and store vast amounts of personal and sensitive information
about their employees and customers. This has led to increased risk of data breaches and
cyber attacks which can result in the theft of sensitive information and significant financial
losses.
• Addiction and mental health: The widespread use of technology in the workplace and in
everyday life has also raised concerns about addiction and mental health, as people
become increasingly reliant on devices and social media. This can lead to decreased face-
to-face interaction, reduced attention spans, and decreased physical activity, which can
have negative impacts on mental and physical health.
• Security risks: As technology becomes increasingly integrated into business operations, it
has also created new security risks, such as cyber-attacks and data theft. This can result
in significant financial losses and reputational damage for companies, and can also impact
the privacy and security of their customers and employees.
• Integration challenges: Finally, the integration of new technologies into business
operations can also be challenging, requiring significant time, resources, and training. This
can be especially challenging for small and medium-sized businesses, which may lack the
resources to invest in new technologies.

1.6 ROLE AND SIGNIFICANCE OF TECHNOLOGY MANAGEMENT

Technology management plays a critical role in the success of modern businesses, as
technology has become an increasingly important driver of growth and innovation. The role of
technology management includes a variety of responsibilities, including:

• Technology strategy development: Technology managers are responsible for developing

and implementing a technology strategy that aligns with the overall business strategy. This
includes identifying the technology needs of the organization, evaluating available
technologies, and selecting those that will best support the business objectives.
• Technology selection and implementation: Once the technology strategy has been
developed, technology managers are responsible for selecting and implementing the
technology solutions that best meet the needs of the organization. This may involve
working with technology vendors, conducting pilot projects, and coordinating the training
and support required to ensure the successful adoption of new technologies.
• Technology operation and maintenance: Technology managers are also responsible for
the day-to-day operation and maintenance of technology systems and networks. This

Notes by Farhan V.S.

Department of Mechanical Engineering.
 includes ensuring that systems are secure and up-to-date, and responding to issues and
incidents as they arise.
• Technology innovation: Technology managers also play a key role in promoting innovation
within the organization, by identifying new and emerging technologies that have the
potential to drive business growth. They also work to ensure that the organization has the
necessary skills and resources to take advantage of new technologies as they become
available.
• Resource management: Technology managers are responsible for managing the
resources required to support technology, including budgets, personnel, and equipment.
They must also ensure that resources are allocated efficiently and effectively to support
the technology needs of the organization.
The significance of technology management in modern businesses cannot be overstated.
Technology has become an increasingly important driver of growth and innovation, and
technology managers play a critical role in ensuring that technology is used effectively to
support the business objectives. By effectively managing technology, technology managers
can help organizations stay competitive, improve efficiency, and drive innovation.

1.7 TECHNOLOGY AND COMPETITION

Technology and competition are two important factors that shape the business world.
Technology refers to the tools, processes, and methods used to create, produce, and distribute
goods and services. It encompasses everything from basic tools and machinery to
sophisticated digital systems and software. Competition, on the other hand, refers to the rivalry
between businesses for customers, market share, and profits. Together, technology and
competition play a major role in driving innovation, efficiency, and growth in the economy. As
technology advances, it creates new opportunities for businesses to innovate and grow, and
also raises the bar for competition. At the same time, competition drives businesses to be
more efficient and effective in their use of technology, as they strive to gain an edge over their
rivals.
Technology and competition are closely related, as technology often drives competition in
various industries. Advances in technology can create new products and services, and can
also improve existing ones, which can lead to increased competition as companies try to
differentiate themselves and gain market share. Additionally, technology can also enable new
forms of competition, such as through the use of the internet and e- commerce. In turn,
competition can also drive technological innovation, as companies strive to gain an edge over
their rivals through the development of new and improved products and services.
The advantages of Competition in technology:

• Innovation: Technology and competition drive innovation as companies strive to develop

new and improved products, services, and processes in order to gain an edge over their
rivals.
• Efficiency: Competition can drive businesses to be more efficient in their use of technology,
as they seek to reduce costs. and improve productivity in order to remain competitive.
• Consumer benefits: Competition can lead to lower prices, better quality, and more choice
for consumers, as businesses strive to offer the best products and services at the most
attractive prices.
• Economic growth: Technology and competition can drive economic growth by creating new
industries and jobs, and by increasing productivity and living standards.

Notes by Farhan V.S.

Department of Mechanical Engineering.
• Globalization: Technology has enabled competition on a global scale, allowing businesses
to reach new markets and customers, and facilitating the flow of goods, services, and ideas
across borders.
• Digitalization: Technology has enabled digitalization of many businesses and industries,
resulting in more efficient processes, automation, and cost savings.
• Personalization: With the help of technology, businesses are able to personalize their
offerings, resulting in better customer experience and increased retention.
The disadvantages of Competition in technology:

• Disruption of traditional industries: Technology can disrupt traditional industries, leading to

job losses and economic upheaval as older business models and technologies are
replaced.
• Inequality: The benefits of technology and competition may not be evenly distributed,
leading to greater income and wealth inequality.
• Privacy and security concerns: The increased use of technology can raise privacy and
security concerns as personal data is collected and shared.
• Dependence on technology: Businesses and individuals may become too dependent on
technology, making them vulnerable to disruptions or failures.
• Impact on human interactions: Technology may reduce face-to-face interactions and social
connections, leading to isolation and loneliness.
• Short-term focus: Competition may lead to a short-term focus on profits and market share,
at the expense of long-term sustainability and social responsibility.
• Cost of entry and maintenance: Small businesses and new startups may find it difficult to
compete with larger, established companies due to the high costs of technology, such as
software and hardware.

1.8 ORGANIZING TECHNOLOGY AT THE ENTERPRISE LEVEL

Organizing technology at the enterprise level refers to the process of managing and utilizing
technology within a business or organization. This includes identifying and implementing the
necessary technology infrastructure, managing and maintaining technology systems, and
ensuring that the technology is used effectively and efficiently to support the goals and
objectives of the organization. Organizing technology at the enterprise level also involves
creating a technology strategy that aligns with the overall business strategy and making sure
that the technology is integrated into the overall operations and processes of the organization.
Effective technology organization at the enterprise level requires a combination of technical
expertise and business acumen. It involves understanding the specific needs and challenges
of the organization, as well as the broader technological trends and developments that may
impact the business. It also involves working closely with various. departments and
stakeholders within the organization to ensure that technology is being used in a way that
supports the organization's goals and objectives.
There are many different approaches to organizing technology at the enterprise level, and the
best approach will depend on the specific needs and resources of the organization. Some
common approaches include centralized IT management, decentralized IT management, and
outsourcing.
The importance of Enterprise Technology Management is as given below:

Notes by Farhan V.S.

Department of Mechanical Engineering.
• Alignment with business strategy: Organizing technology at the enterprise level ensures
that the organization's technology strategy aligns with its overall business strategy and
supports its goals and objectives.
• Improved efficiency and productivity: By effectively managing and utilizing technology,
organizations can improve efficiency and productivity across their operations and
processes.
• Better decision making: Organizing technology at the enterprise level allows for better
decision making by providing accurate and timely data and information.
• Enhanced customer experience: By using technology to support customer-facing
operations and processes, organizations can enhance the customer experience and build
stronger customer relationships.
• Cost savings: Organizing technology at the enterprise level can help organizations save
costs by identifying and eliminating inefficiencies, reducing duplication of efforts and
optimize the use of resources.
• Innovation and competitiveness: Organizing technology at the enterprise level allows
organizations to stay current with technological trends and developments, and to innovate
and stay competitive in their industry.
• Risk management: By effectively organizing technology, organizations can manage and
mitigate potential technology- related risks and ensure the continuity of their operations.

1.9 TECHNOLOGY INNOVATION

Technology innovation refers to the development and implementation of new or improved
technology. This can include the creation of new products, processes, and materials, as well
as the advancement of existing technologies.
Technology innovation plays a crucial role in driving economic growth and improving the
quality of life for people around the world. It can also lead to new industries and job
opportunities, and it enables organizations to stay competitive in a rapidly changing business
environment.
Technology innovation drives economic growth by creating new industries and job
opportunities. To see how, let us consider the following points:

• It improves the quality of life by providing new and improved products and services.
• It allows organizations to stay competitive in a rapidly changing business environment.
• It can lead to increased productivity and efficiency. • It can enable new scientific and
technological discoveries.
• It can help address societal challenges such as healthcare, energy, and environmental
protection.
• It can foster entrepreneurship and small business growth.
• It can promote the development of new skills and capabilities.
• It can improve communication and collaboration on a global scale.
• It can lead to more equitable access to information and resources.

1.10 KEY ISSUES IN MANAGING TECHNOLOGICAL INNOVATION

Managing technological innovation can be a complex and challenging task, and there are
several key issues that organizations need to consider in order to be successful:

Notes by Farhan V.S.

Department of Mechanical Engineering.
• Balancing short-term and long-term goals: Organizations need to strike a balance between
investing in new technologies that can drive growth in the short term, and those that have
the potential to shape the future but may not generate immediate returns.
• Embracing risk: Innovation often involves taking calculated risks, and organizations need
to be willing to embrace this risk-taking in order to reap the rewards. At the same time,
they need to have a robust risk management framework in place to minimize potential
losses.
• Securing funding: Developing and implementing new technologies can be expensive, and
organizations need to secure the funding required to support their innovation efforts. This
may involve seeking external funding from investors, or finding creative ways to fund
innovation from within the organization.
• Managing the innovation pipeline: Organizations need to have a clear process for
identifying, developing, and process commercializing new technologies. This requires a
deep understanding of the innovation landscape, and the ability to prioritize initiatives
based on their potential impact.
• Building the right team: Innovation requires a dedicated and diverse team with the right
skills, experience, and mindset. Organizations need to be proactive in building a team that
can drive innovation and collaborate effectively with stakeholders across the organization.
• Keeping up with the pace of change: Technology is evolving rapidly, and organizations
need to be agile and adaptable in order to keep pace with the latest developments. This
requires a culture that encourages continuous learning and experimentation.
• Ensuring ethical considerations: As technology continues to advance, it is increasingly
important for organizations to consider the ethical implications of their innovation efforts.
This includes ensuring privacy, security, and compliance with relevant laws and
regulations.

1.11 FORMS OF TECHNOLOGY: PRODUCT TECHNOLOGY &

PROCESS TECHNOLOGY
Product technology and process technology are two different types of technology that
organizations use to develop and produce goods and services.
Product technology refers to the design, development, and production of physical products
and systems. It involves the creation of new products or the improvement of existing products
through the use of new materials, components, and manufacturing processes. The focus of
product technology is on creating products that are more functional, reliable, and efficient.
Product technology involves a wide range of activities, including research and development,
design, prototyping, testing, manufacturing, and marketing. In the early stages of product
development, engineers and scientists conduct research and experimentation to determine
the feasibility of new products. This includes evaluating materials, components, and
manufacturing processes to determine the best approach for producing the product.
Once the research and development phase is complete, product technology moves into the
design phase. This is where engineers and designers create detailed blueprints and
specifications for the product, taking into account the materials, components, and
manufacturing processes that will be used. The design phase also includes the creation of
prototypes and mockups, which are used to test and refine the product before it goes into
production.

Notes by Farhan V.S.

Department of Mechanical Engineering.
Process technology, on the other hand, refers to the design, development, and
implementation of processes and systems that are used to produce goods and services. It
involves the optimization of production processes to make them more efficient, cost-effective,
and environmentally sustainable. The focus of process technology is on improving the quality
of the production process and reducing waste, rather than solely on the product itself.
Process technology involves a wide range of activities, including process design, process
improvement, and process control. In the process design phase, engineers and scientists.
work to optimize the production process, taking into account. factors such as raw materials,
energy use, and labor costs. This includes the selection of the best manufacturing equipment,
process flow, and control systems to ensure that the process is efficient and cost-effective.
In the process improvement phase, process technology focuses on continuously improving
the production process to increase efficiency and reduce waste. This includes the use of
process control systems to monitor production in real-time, as well as the deployment of
continuous improvement methodologies such as Lean and Six Sigma to identify and eliminate
inefficiencies in the process.
Both product technology and process technology are important for organizations as they strive
to innovate and improve their products and production processes. Product technology can
lead to the development of new and improved products, while process technology can help
organizations increase efficiency, reduce costs, and improve the overall quality of their
products.

Notes by Farhan V.S.

Department of Mechanical Engineering.