CENTER FOR DISTANCE AND ONLINE EDUCATION

ASSIGNMENT- JANUARY 2025

SUB. NAME:- MANAGEMENT OF TECHNOLOGY
Online Mode:- (MBA 593)

Name – ASHUTOSH SINGH

Course – MBA Semester – 4th

Enrollment Number – IULOL23201611

Q-1 What is technology transfer?

Answer - Technology transfer is the process of sharing and disseminating knowledge,
skills, and intellectual property from one organization or individual to another, often
with the goal of commercializing or further developing the technology. It's a way of
translating research and development into practical applications that benefit society.
Here's a more detailed explanation:
 Knowledge Dissemination:
Technology transfer involves sharing the knowledge and skills developed during
research and development with others.
 Intellectual Property:
It also includes the transfer of intellectual property, such as patents and trade secrets,
to allow others to utilize the technology.
 Commercialization:
A key goal of technology transfer is to bring new technologies and discoveries to the
market by licensing them to businesses or other organizations.
 Benefits:
This process can lead to the development of new products and services, stimulate
economic growth, and create jobs.
 Examples:
Examples of technology transfer include:
 A university transferring a new medical device invention to a pharmaceutical company.
 A government research lab sharing its findings on a new energy-saving technology with
industry partners.
 A company licensing a piece of software to a competitor.
 Q-2 What do you mean by forecasting technology?
Answer - Forecasting technology refers to the process of predicting future
advancements and trends in technology. It involves analyzing past and present
technological developments to anticipate future characteristics, performance, and
timing of new technologies. This helps organizations and individuals prepare for future
technological changes, potentially enabling better strategic decisions and product
development.
Here's a more detailed explanation:
What it is:
 Predicting the future:
Technology forecasting attempts to anticipate future technological developments,
including new inventions, the timing of their introduction, and their potential
performance characteristics.
 Systematic study:
It's not just guessing; it's a systematic process of analyzing data and information to
identify trends and potential future scenarios.
 Strategic planning:
The insights gained from technology forecasting can be used for strategic planning,
helping organizations make informed decisions about research and development,
product design, and market entry.
Why it's important:
 Staying ahead of the curve:
In a rapidly changing technological landscape, forecasting helps organizations stay
ahead of the competition and adapt to emerging trends.
 Reducing risk:
By anticipating future technological changes, organizations can better manage risks
associated with obsolescence and technological disruptions.
 Improving decision-making:
Forecasts provide valuable information for decision-making, helping organizations
allocate resources effectively and make strategic investments in the right areas.
Examples:
 Predicting the future of mobile communication:
Technology forecasting could be used to anticipate the development of 5G, 6G, and
beyond, and how these technologies will impact mobile devices and applications.
 Forecasting the impact of artificial intelligence:
Technology forecasting can help organizations understand the potential impact of AI on
various industries, enabling them to prepare for job displacement, new business
models, and ethical considerations.
 Predicting the evolution of manufacturing:
Forecasting can help organizations anticipate the development of new manufacturing
technologies, such as additive manufacturing, robotics, and automation, and how these
technologies will impact production processes.

Q-3 Discuss the management renewal cycle?

Answer- The management renewal cycle, also known as renewal management, is the
process of proactively managing and renewing contracts, subscriptions, or other
agreements. It involves understanding customer needs, tracking renewals, and
maximizing the return on investments from ongoing agreements.
Here's a more detailed breakdown of the renewal cycle:
Key Aspects of Renewal Management:
 Tracking and Analysis:
Renewal management involves meticulously tracking customer subscriptions and
contract renewals to ensure timely and accurate renewals.
 Proactive Engagement:
It goes beyond simply reminding customers to renew; it involves proactively
understanding customer needs, usage patterns, and satisfaction levels to tailor renewal
strategies.
 Maximizing Value:
Renewal management aims to ensure that every contract renewal aligns with the
company's budget cycle, service usage, and provides a maximized return on
investment.
 Contract Review and Negotiation:
Renewals offer an opportunity to review contract terms, renegotiate fees, and address
potential issues with previous contracts.
 Risk Mitigation:
A renewal strategy should also include proactive risk identification and mitigation, such
as addressing potential issues with auto-renewal clauses or usage limits.
 Building Customer Relationships:
Renewal management can be a way to foster stronger relationships with customers by
demonstrating a commitment to their satisfaction and needs.
 Customer Retention and Growth:
By ensuring timely and accurate renewals, businesses can maintain a healthy recurring
revenue stream and contribute to overall growth.
Benefits of a Strong Renewal Management Process:
 Increased Revenue:
Successful renewal management helps ensure a consistent flow of revenue, particularly
for subscription-based businesses.
 Customer Retention:
A strong renewal process can significantly reduce churn rates by addressing customer
concerns and ensuring they are satisfied with the service.
 Improved Customer Relationships:
Proactive and transparent renewal management can strengthen customer relationships
by demonstrating a commitment to their needs and value.
 Cost Savings:
Negotiating favorable renewal terms can lead to cost savings and improve the overall
return on investment.
 Efficiency and Productivity:
Streamlining the renewal process can free up valuable time and resources for other key
business activities.
In essence, renewal management is a strategic approach to maintaining and expanding
customer relationships, ensuring a consistent flow of revenue, and maximizing the
value of existing contracts and subscriptions.

Q-4 What is diffusion technology?

Answer - Technology diffusion refers to the process by which a new technology or
innovation spreads and is adopted within a social system over time. It involves the
spread of new ideas and technologies across different groups, organizations, or even
countries. This process is influenced by factors like economic, political, and educational
aspects.
Here's a more detailed explanation:
Key aspects of technology diffusion:
 Spread and Adoption:
It's about how a technology moves from its initial use to wider acceptance and
incorporation into various aspects of life.
 Time-Dependent Process:
Diffusion occurs gradually, with different groups adopting the technology at different
rates.
 Social System Influence:
The spread of technology is shaped by the characteristics of the social system where it
is introduced.
 Factors Influencing Diffusion:
Economic incentives, technological improvements, cost reduction, and the availability
of information all play a role in how quickly and widely a technology spreads.
 Macro-level phenomenon:
Technology diffusion is a broader concept, looking at how technologies spread across
groups and over time, rather than just individual adoption.
 Different Adoption Patterns:
Some individuals or groups may be early adopters, while others may adopt later, or
even not at all.
 Impact on various sectors:
Technology diffusion can affect industries like healthcare, education, and
entertainment, leading to changes in how services are delivered and consumed.
Examples of Technology Diffusion:
 Smartphones:
Initially expensive and limited to a small group, smartphones became widely adopted
as technology advanced and prices decreased.
 Online Learning Platforms:
Telemedicine and online learning platforms have broadened access to healthcare and
education, respectively.
 Streaming Services:
Streaming platforms like Netflix and Hulu have transformed how people consume
media.

Q-5 Discuss the classification of technology?

Answer - Technology can be classified in several ways, broadly categorized by purpose,
field, or level of sophistication. Common classifications include communication,
transportation, manufacturing, medical, and energy technology. Within these broad
categories, further divisions exist, such as hardware, software, and networks in
information technology. Additionally, technology can be classified based on its stage of
development, including invention, innovation, and diffusion.
Here's a more detailed breakdown of technology classifications:
1. By Purpose:
 Communication Technology:
Facilitates information exchange, including devices like telephones, the internet, and
television.
 Transportation Technology:
Encompasses vehicles and systems for moving people and goods, such as airplanes,
cars, and trains.
 Manufacturing Technology:
Involves processes and equipment used in the production of goods.
 Medical Technology:
Focuses on diagnosing, treating, and preventing diseases, including medical devices and
pharmaceuticals.
 Energy Technology:
Deals with the generation, storage, and transmission of energy, including solar panels
and batteries.
 2. By Field:
 Information Technology (IT): Focuses on the use of computers and networks for
information management, including hardware, software, and networking.
 Biotechnology: Applies biological sciences to create solutions in areas like medicine and
agriculture, including genetic engineering.
 Educational Technology: Uses technology to enhance learning and teaching processes.
 Industrial and Manufacturing Technology: Encompasses processes and tools for large-
scale production and automation.
 Business Technology: Involves technology used to support business operations and
processes.
3. By Level of Sophistication:
 Low Technology:
Simple and readily available technology, often based on established principles.
 Medium Technology:
More sophisticated technology, often requiring specialized knowledge and resources.
 High Technology:
Advanced technology, often involving complex systems and cutting-edge research.
4. By Stage of Development:
 Invention: The initial creation of a new technology or process.
 Innovation: The first commercial application or implementation of an invention.
 Diffusion: The widespread adoption and replication of an innovation.
5. Other Classifications:
 Hardware vs. Software: Hardware refers to physical devices, while software refers to
programs and instructions.
 Analog vs. Digital: Analog technology uses continuous signals, while digital technology
uses discrete signals.
 Emerging Technologies: New technologies like AI, 5G, and blockchain that are rapidly
developing.

Q-6 Explain ABC and EOQ techniques?

Answer - ABC Analysis and Economic Order Quantity (EOQ) are two inventory
management techniques used to optimize stock levels and reduce costs. ABC Analysis
categorizes inventory items based on their importance, while EOQ calculates the
optimal quantity to order to minimize total inventory costs.
ABC Analysis:
 Categorization:
ABC Analysis divides inventory items into three categories (A, B, and C) based on their
annual consumption value (ACV).
 Prioritization:
"A" items represent a small percentage of the total items but a large percentage of the
total value, requiring tight control and frequent monitoring. "B" items are of moderate
importance, and "C" items are the least important, requiring less attention.
 Benefits:
This method helps businesses focus resources on the most valuable items, improve
inventory accuracy, and reduce costs.
 Example:
Imagine a retail store. "A" items might be the top-selling products, "B" items are mid-
range items, and "C" items are slower-moving or seasonal items.
Economic Order Quantity (EOQ):
 Calculation:
EOQ is a formula used to determine the ideal order quantity for an item that minimizes
the total cost of inventory management.
 Cost Minimization:
EOQ balances the costs of holding inventory (storage, insurance, etc.) with the costs of
placing orders (ordering costs, shipping, etc.).
 Formula:
The general EOQ formula is √(2 * Annual Demand * Ordering Cost) / Holding Cost per
Unit.
 Benefits:
By optimizing order quantities, EOQ helps reduce total inventory costs, improve cash
flow, and minimize the risk of stock outs or excess inventory.

Q – 8 What are the effects of technology on growth and development of business

organization?

Answer - technology significantly impacts business growth and development

by enabling efficiency, innovation, and global reach, ultimately driving productivity and
competitiveness. It facilitates faster, more convenient business transactions, improves
customer experience, and supports enhanced communication and collaboration.
Here's a more detailed breakdown:
Positive Impacts:
 Increased Efficiency and Productivity:
Technology automates tasks, streamlines workflows, and reduces errors, leading to
higher output and improved efficiency, as highlighted by TST Technology.
 Cost Reduction:
Automation and optimization of processes can significantly reduce operational costs,
freeing up resources for other areas of the business, according to Click worker.
 Enhanced Customer Experience:
Technology enables businesses to personalize customer interactions, provide better
support, and gather valuable feedback, as noted by TST Technology.
 Global Market Expansion:
Technology breaks down geographical barriers, allowing businesses to reach new
customers and markets worldwide, says Herzing University.
 Innovation and New Business Models:
Technology fosters innovation by enabling the creation of new products, services, and
business models, as suggested by TST Technology.
 Improved Collaboration and Communication:
Technology facilitates seamless communication and collaboration between employees,
partners, and customers, regardless of location, as emphasized by Herzing University.
 Data-Driven Decision Making:
Technology enables businesses to collect, analyze, and utilize data to make more
informed decisions and gain insights into market trends and customer behavior,
according to Online Chartered.
 Enhanced Cybersecurity:
While not always a direct driver of growth, robust cybersecurity measures are crucial
to protect sensitive information and ensure business continuity, as pointed out
by Herzing University.
Challenges:
 Cybersecurity Threats:
As businesses become more reliant on technology, they also become more vulnerable to
cyberattacks, requiring strong security measures, according to Herzing University.
 Need for Skilled Workforce:
Implementing and utilizing technology effectively requires a skilled workforce,
potentially leading to training and development challenges, as suggested by TST
Technology.
 Adapting to Technological Changes:
Businesses must continuously adapt to new technologies and emerging trends to stay
competitive, as noted by UNSW Sydney.
Overall, technology plays a pivotal role in modern business, enabling organizations to
achieve greater efficiency, expand their reach, and innovate to stay ahead of the
competition.
 Q- 9 Write short note on Effects of technology in society?

Answer- Technology's impact on society is multifaceted, encompassing both positive

and negative effects. It has revolutionized communication, facilitated learning, and
enhanced healthcare, but it also raises concerns about privacy, job displacement, and
the spread of misinformation. Technology is a tool that can be used to improve society,
but it also comes with potential downsides that need to be addressed.
Positive Impacts:
 Enhanced Communication:
Technology has made it easier and faster to connect with people across the globe,
fostering global communities and collaborations.
 Improved Learning:
Online learning platforms and educational apps provide access to knowledge and
learning opportunities for a wider audience, particularly those in remote areas.
 Better Healthcare:
Technological advancements have led to new diagnostic tools, treatments, and
preventative measures, improving health outcomes and extending lifespans.
 Increased Productivity:
Technology automates tasks, streamlines processes, and enhances efficiency, leading to
greater productivity in various sectors.
 Economic Growth:
Technology drives innovation, creates new industries, and generates economic
opportunities, contributing to overall societal prosperity.
 Environmental Sustainability:
Technology can aid in reducing energy consumption, promoting renewable energy
sources, and developing sustainable practices.
 Entertainment and Leisure:
Technology provides diverse entertainment options and recreational activities,
enriching people's lives and offering new ways to spend leisure time.
Negative Impacts:
 Privacy Concerns:
The collection and storage of personal data raise concerns about privacy and the
potential for misuse, as noted in the article "Privacy in Technology".
 Job Displacement:
Automation and the rise of artificial intelligence can lead to job losses in certain sectors,
necessitating retraining and adaptation.
 Spread of Misinformation:
The ease of information sharing online has also made it easier for misinformation to
spread rapidly, potentially causing confusion and harm.
 Mental Health Issues:
Excessive screen time and social media use can lead to anxiety, depression, and
addiction, impacting mental well-being.
 Social Isolation:
While technology facilitates communication, it can also lead to social isolation if it
replaces face-to-face interactions and real-life experiences.
 Environmental Degradation:
The production and use of technology can contribute to pollution, resource depletion,
and other environmental problems.
 Digital Divide:
Not everyone has equal access to technology and the internet, creating a digital divide
that can exacerbate existing inequalities.

Q – 10 What are the factors that will influence innovation in organization?

Answer- Several key factors influence innovation within an organization,

including organizational culture, leadership, resources, and technology. A supportive
culture, strong leadership, and access to necessary resources are crucial for fostering a
climate that encourages innovation and risk-taking.
Here's a more detailed look at the factors:
1. Organizational Culture: A vibrant and innovative culture is a key driver of success, as
it encourages creativity, risk-taking, and collaboration. A culture that values new ideas,
encourages experimentation, and learns from mistakes is essential for fostering
innovation.

2. Leadership: Supportive and transformative leadership is vital for creating an

environment where innovation can thrive. Leaders who encourage creativity, provide
resources, and empower their teams are essential for driving innovation.
3. Resources: Access to sufficient resources, including funding, technology, and
expertise, is crucial for supporting innovation efforts. Organizations need to allocate
resources strategically to enable innovation initiatives.
4. Technology: Technology plays a significant role in enabling innovation by providing
tools and platforms for collaboration, communication, and data analysis. Organizations
that effectively leverage technology can accelerate innovation processes.
5. Employee Skills and Capabilities: A skilled and motivated workforce is essential for
generating and implementing innovative ideas. Organizations need to invest in
employee development and training to foster a culture of innovation and knowledge
sharing.
6. Vision and Strategy: A clear, long-term vision that is flexible enough to be achieved
through various methods can inspire innovative ideas that are deeply grounded within
the organization's goals.
7. Networks and Partnerships: Building and participating in networks for gathering
feedback, information, and collaboration can help organizations access external
knowledge and perspectives, which can drive innovation.
8. Customer Focus: Understanding customer needs and preferences is crucial for
developing innovative products and services that meet market demands. Organizations
that prioritize customer focus can tailor their innovation efforts to address specific
customer needs.
9. Autonomy and Flexibility: Giving employees the freedom and authority to make
decisions, experiment, and learn from their mistakes can unlock a wealth of innovative
ideas and solutions.
By addressing these key factors, organizations can create a conducive environment for
innovation, leading to increased creativity, job satisfaction, and a competitive
advantage.