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Technology Management & Business Strategy

Technology Management & Business Strategy

The modern world is a very complex place. Some areas are tackling the enormous challenges of recession. Others are adjusting to explosive growth. There's disruption and change everywhere you look. So, we have to re-evaluate whether we need a strategy to build and sustain a winning business.

Technol
ogy
 
 Technology is increasingly a critical business success factor – the ways in which it interacts with other business functions and with overall business strategy to achieve competitive advantage is a critical aspect of business planning that cannot be ignored. Therefore, it's seen as a major driving force shaping the business over the medium- to long-term future.
 
Technology Management
"Management of technology is the management of the dynamics of technological change, involving the evolution of appropriate strategies and their implementation. It is a human skill, combining elements of engineering, science and management techniques, which is needed by organizations in order that they may fulfil their technological capabilities and thus maximize their strategic and competitive advantage in the marketplace." (JUPITER, 1988)
Technology is about applying knowledge creatively to produce products, processes and systems that benefit people, while minimising any adverse economic, environmental and social consequences. It now has a massive impact on our personal and working lives, and this interaction between people and technology is a fascinating area to study. Managing this important resource is also one of the key drivers for organizational success. There’s increasing demand across the public, private and not-for-profit sectors for professionally educated people with both the vision and operational and strategic capability to plan, develop and manage technology effectively.

In today’s electronic global market, information communication technologies are rapidly changing the way organisations conduct their business. Hence, individuals, organizations and nations are working hard to improve their ICT infrastructure and creating the information systems to support a global networked economy which requires a major shift in IT skills, management thinking and organisation structures.

                                         Business Strategy

"Strategy is not planning — it is the making of an integrated set of choices that collectively position the firm in its industry so as to create sustainable advantage relative to competition and deliver superior financial returns". (Roger Martin)

It is clear that the challenge that faces the business organisation in today’s environments is quite different from those of the past.
No organisations, no matter how successful, can continue to thrive unless it improves its operations’ performance. All organisations need to need to improve their outputs of their goods and services, and the processes that produce them, so as to ward off competition in all its guises. By improving the performance of their operations, organisations are also developing the competencies and capabilities, which will form the basis of their future strategies.
"Managing strategy is about managing change. A strategy describes how an organization intends to create value for its stakeholders. And the strategy map denes and claries the logic of this value creation process: how a customer value proposition will lead to shareholder rewards, how a set of processes will support this value proposition, and how a set of intangible assets (people and technology) will enable these processes. But unless the organization is able to execute the changes described by this logic, the strategy is worthless. We refer to this ability of the organization to mobilize and sustain the process of change required to execute the strategy as organization capital. Organization capital, along with human capital and information capital, constitutes the intangible assets of an enterprise." (By Robert S. Kaplan and David P. Norton, Harward  Business School) 

What is a business process?

According to Davenport and Short, business process is the logical organisation of people, materials, energy, equipment and procedures in to work activities designed to produce a specified end results. In their definition about business process, they also state the two important characteristics of process. Firs, they have customers and second, they cross-organisational boundaries and are generally independent of formal organisational structure. The process-oriented viewpoint emphasise cross-functional performance rather than encouraging departmental optimisation and consequent system-wide sub-optimisation. It is true that in today’s global market the most successful competitors move quickly in add out of products, markets, and sometimes even entire businesses. And the goal is to identify and develop the hard-to-imitate organisational capabilities that distinguish a company from its competitors in the eye of customers. 


1. David Mayle(October 12, 2012). "It’s the culture, stupid!” Business perspectives.  http://openbusinessperspectives.com/2012/10/12/its-the-culture-stupid/


 
 
Tibebu Tefeta (MBA)
Tibebu Tefeta - Business Consultant
 
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