This chapter introduces the concept of technology management by objectives. Technology is one of the fastest moving elements in the 21st Century, which could be well explained using the growth theory. The growth theory is defined on the basis of the economic growth from the increasing returns that is associated with the new knowledge. The knowledge has various dimensions in today’s world, one of which is the technology. The major portion of any improvement or any development in any sector is due to technology or due to a change in technology. Technology in any organization can improve, sustain, and diminish the business based on the approaches used in the model. The ability to connect technology and gain organization advantage depends upon how efficiently and effectively the technology is managed within the organization. Technology has been managed by different means based on the application of the technology. This chapter would discus how the technology could be management by objectives (TBO). Many approaches have been utilized to integrate individual and team goal with the overall goals of the organization of an enterprise. Each group goal would have a set of objectives and satisfying all these objectives is virtually impossible because many of them contradict to each others. Technology by objectives is a process in which the common goals are identified and would define individually the major area of responsibility in terms of the results and objectives expected in detail. The goals would be jointly established by the administrators and the sub-ordinates and would emphasis on the output variables. Every corporation has different technological goals and visions, so based on the enterprise the goals and objectives are set.
Definition And Concept
There had been many approaches that have been utilized to integrate individual and team goals with overall goals of the organization of an enterprise. Technology management by objectives is basically a strategic process in which the group that works on an objective have a:
Understand to have a common goal; especially all the members in the group should understand the importance in a big picture.
Identify the responsibility for each team member in the enterprise, this is also really important because each team member needs to understand how their work would affect the other technology development related to it.
Use these measures as guides for operating the technology enterprise and accessing the contribution of the team
◯ The goals are usually established as a team that work in the in technology enterprise and agreed upon in advance. The goals are usually emphasized as the output variables (or results) or intervening variables, or a combination of both
◯ At specific intervals, the TMO performance is reviewed and measured to check with the current goals. The team usually participates in the review and evaluation. The review is done as a team and no arbitrary decisions are made during the meeting.
Key Terms in this Chapter
Long Term Objective: Objectives that are for a long period of time for example like planning for a diversification.
General Objectives: Objectives that are general to the enterprise for example the profit objective or the objective on increasing productivity.
Short Term Objective: The objectives that are for a short period of time for example like expediting the works lagging behind the schedule.
Broad Objective: Broad objective or corporate objective is a statement of the standing company or enterprise that wishes to achieve.
Technology Management by Objectives: Technology by objectives is a process in which the common goals are identified and would define the major area of responsibility in terms of the results expected.
Specific Objective: Objectives that are specific for a given task for example like a decision on pricing policies.