Technology Management & Business Strategy
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.
"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.
"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.
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 - Business Consultant