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PROGRAM
SEMESTER
SUBJECT NAME
SUBJECT CODE
STUDENT NAME
ROLL NO.
ASSIGNMENT
WINTER 2015
MBA
FOURTH
OM0018
TECHNOLOGY MANAGEMENT
CHETAN ANAND
1405003452
Q3. The process of Strategic planning covers multiple factors. Explain all
of those factors.
Stating the vision
Stating the mission
Stating the values
listing objectives
stating strategies
listing goals
listing programs
Answer:
a. Vision: This refers to the long-term goal of an organisation. It presents the
impending situation and defines the image of the organisation in that situation. The
basic purposes of vision are to guide, control and inspire the organisation in such a
way that it helps in attaining the desired goal. The vision answers the question of
what do we want our organisation to be? For instance, the vision of KPMG is be a
leader of all the markets we participate. Vision of Ford is become the main
company of the world in products and services of the car. Technological capabilities
play a crucial role in achieving the visions of
the company.
b. Mission: This refers to a statement that describes; how an organisation is going
to attend to the needs of the society, by providing high value services and products
to their clients. It also describes how it is
planning to give an increasing level of profitability to its shareholders and
developing the professional competence to their employees. For example the
mission of KPMG states, transform the knowledge into
value to benefit the clients and the capital markets. The mission statement of Ford
says, We are a global, diverse, family with a proud inheritance, providing
exceptional products and services.
c. Values: This refers to define the organisations belief and rules by a framework
of references that inspire and control the management of the organisation. For
example the values of KPMG state the following points:
We are leaders of our examples
Team work
Respect to people
Analyse facts
Honest and open communication
We involve with the community
What is more: we act with integrity
d. Objectives: This refers to the key elements that state the business objective in
terms of results. The organisation wants to achieve in the medium or long term. The
objectives cover topics such as profitability, growth, technology, offerings, and
market. The objectives should show the core motives of running the business and
discuss how the organisation is going to fulfill the expectations and requirements of
the employees and the investors.
e. Strategies: This refers to the rules and guidelines; an organisation follows to
achieve its mission and objectives. Strategies are built on strengths by resolving the
weaknesses, exploiting the opportunities and
evading the threats. Strategies include planning on various matters such as
acquisition, growth, diversification, and other functional areas.
f. Goals: This refers to achieving the organisation objectives by implementing
strategies through time-based measurement techniques. For example, to achieve a
specific percentage of growth in sales in four
years. The goals may cover the factors such as products, finances, profitability,
utilisation, efficiency and the market size. Goals should be measurable, reliable,
time-bound, specific and attainable.
g. Programs: This refers to the set of key strategies, which are scheduled out as
final elements for the implementation of the plan. These cover resources, purposes,
time-scale, targets, funds and goals.
Q4. a. Meaning of Technology Development.
b. Explaining the four phases of technology.
Answer:
a. An organisation or a country can acquire technology from numerous sources
and through various methods. However, these methods depend on a number
of factors such as the urgency of the organisation in acquiring the
technology, the available resources and skills of the organisation, and the
required expenses. For instance, if an organisation possesses the required
resources and skilled workforce to develop a technology, and if the need of
the technology is not very urgent, it can develop the technology in-house
with the help of internal R&D. On the other hand, if the need of a technology
is very urgent, and the organisation does not have the necessary technical
skills to develop the technology, it can buy it from other organisations.
Urban Infrastructure
Private sector participation