Technology Management

Technological progress results all ways improvements,that goods services are

produced, marketed and made available to the public. This plays a central role in
spurring income growth and reducing poverty. Technology is at the very heart of
human progress and development. It accounts for much of the economic and social
progress of the past few centuries. It will help to meet the environmental
challenges of the twenty-first century.
Classification of Technology
New Technology
A new technology is any newly introduced or implemented technology, that an
implicit impact on the way a company produces products or provide services.
Example is new computer software introduced to develop, engineering drawing
and thus replace manual drafting. Another example is an internet website designed
to market the company’s products.
Emerging Technology
An emerging technology is any technology that is not yet fully commercialized but
will become so within about 5 years. It may be currently in limited use, but is
expected to evolve significantly. Example: Genetic Engineering, Nano-
Technology, Super Conductivity and the Internet, as a replacement for the personal
computer. Emerging technology create new industries and many make existing
ones obsolete. They have the potential of trigging large changes in institutions and
in society itself.
High Technology
The term high technology refers to advanced or sophisticated technologies. High
technologies are utilized by a wide variety of industries having certain
characteristics. Some examples are given below:
 Telemedicine is used for diagnostics and prescription of medicine.
 RFID is used for inventory management.
 People Soft, Smartz are used for academic record management.
 Mobile banking is very useful for transaction of funds.
 Biometric attendance is used in offices.
 LMS is used for online teaching, assignments, quizzes, assessment of exams.
Technological Forecasting
In general, is applied to all purposeful and systematic attempts to anticipate and
understand the potential direction, rate, characteristics, and effects of
technological change, specially invention, innovation, adoption and use. One
possible analogy is weather forecasting. A good forecast can help maximize
gain and minimize loss from future conditions.

Result Analysis
Experts must analyze the results trying to extract the best interpretation of
histogram, matrices, and networks looking for strategic information. The
knowledge of information professionals on the available information sources,
their contents and structure and the opinion of experts to define the search
strategy and interpret the results are crucial for the quality of the final work.

Modelling and Simulation

A model is simplified representation of structure dynamics of some part of real
world. Models can exhibit from future behavior of complex systems simply by
isolating important system aspects from unessential detail. Modelling requires a
good understanding of interactions between these forecast and the underlying
variables or determinants.
For example, an attribute of clean coal may be that it has a negative connotation
while an attribute of photovoltaic may has a positive connotation while that of
tidal power has neutral connotation.