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Technology
Techno
Logia
An art or Skill Science or Study
Thus, technology means systematic treatment of art or skill.
According to Oxford EnglishJ Dictionary, Technology is
application of scientific knowledge for practical purposes.
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What Technology is not:
Individual Know-how.
A basic technique available to all.
A skill or knowledge that do not materialize
in manufacturing or production capabilities.
For Instance: Accounting, Marketing etc.

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Technology Management: A discipline of
management where in an organization
leverages the technological fundamentals to
create competitive advantage.
Technology: Usage & knowledge of tools
and crafts to control or adapt to the
environment.

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Technology is a process which, through an explicit or
implicit phase of research and development allows for
commercial production of goods or services.
Scientific Knowledge
Research & Development
Existing
Technologies
Problems to be
solved
Technology
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Technology is developed through an explicit or
implicit research and development process, and later
does not necessarily need to be carried out within the
firm that applies the technology.
Technologies competence can be bought and sold
and in order to create competitive advantage a
company can combine in-house technologies with
other technologies purchased from an outside
supplier.
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Characteristics of Technology
It involves purposive application of various fields of
sciences and scientific knowledge.
It is used to provide objects (like products, machinery,
tools, services etc.) necessary for human sustenance
and comfort.
It is not restricted to hardware, but also includes
know-how and software.
It has both public and private components. Its public
component can be freely used by all; whereas its
private component provides specific advantage to the
possessor/ owner.
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It is complex in nature. Complexity means that most
modern tools are difficult to understand. Some tools are
relatively easy to use, but difficult to comprehend as to
their source and means of manufacture, such as a
kitchen grinder and mixer.
It is dependent on other technologies. Dependency
refers to the fact that most modern tools depend on other
modern tools, which in turn, depend on still other
modern tools for their manufacture/ proper use. For Eg:-
Motorcycles.
Characteristics of Technology
Contd
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Science V/S Technology
SCIENCE TECHNOLOGY
1. Science deals with natural world.

1. Technology largely deals with the
human made world.
2. It mainly focuses on
understanding scientific
principles.
2. It mainly focuses on doing ie it is
application oriented.
3. It is public & universal knowledge. 3. It comprises both public & private
knowledge.
4. Scientific research & discovery
leads to increase of overall
scientific knowledge.
4. Technology development leads to
innovation of new products,
services or processes.
5. Utility of science does not
undergo change with the passage
of time ie science does not enter
death stage.
5. Technology & the product, service
or process associated with it,
undergo changes like the
biological concept of a Life cycle.
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6. Scientific research & discovery is
pursued even if costs may sometimes
exceed benefits, like heavy
expenditure by USA on space
missions to understand evolution.
6. Technology development is many
times guided by cost v/s benefit
analysis.
7. Science is generally useful for all
human beings
7. Technology provides specific
advantages to its owner & users.
8. It precedes technology
development.
8. It succeeds / follows scientific
research & discovery.
9. Examples :- Law of Gravity 9. Examples:- Information
Technology, Nano Technology.
Science V/S Technology
SCIENCE TECHNOLOGY
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Types of Technologies
1. Generic, Basic & Key Technologies
Generic Technology: It has fairly common use across the industry.
Greater the range of application more generic is the technology.
Eg:- Conveyors, Lubricants, Electronic Device Design etc.
Basic Technology: It provides a degree of strategic flexibility to a
particular user. Eg:- Use of Optical readers in assembly line for
quality control.
Key Technology: It is proprietary to the firm and provides it with
competitive edge over others. It is not obtainable or available to
others in the market. Huge expenses and efforts are required to
be undertaken for their internal development or external
acquisition.
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2. Embodied and Disembodied Technologies
Embodied Technology: It is encapsulated in products and physical
equipments such as technology used in a manufacturing plant.
Disembodied Technology: It is mainly intangible in nature. There are
no specific products. It involves social or management sciences
instead of natural sciences. Eg: Quality assurance program in a
factory.
3. System and Infra Technologies
System Technologies: They evolve by combining different
technologies through information technology for development of
large number of different applications like Computer-Aided Flexible
Manufacturing System (FMS).
Infra Technology: These support research and development,
manufacturing and marketing functions in the industry. Eg:
Measurement and test method calibration procedures.
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4. Hybrid and Emerging Technologies
Hybrid Technology: This type of technology evolve by combining
together features of different technologies. Eg: Combining
photography & digital technology in digital cameras.
Emerging Technology: This type of technology is under advanced
development stage and research has progressed far enough to
indicate a high probability of technical success for new
applications and new products in the next 10 years. Eg: Bio-
Genetic, Nano Technology.
By Sandeepa Kaur 13
Managerial Functions of
Technology Management