Essay on Common Principles and Practices Used to Successfully Manage the 21st Century

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Common Principles and Practices Used to Successfully Manage the 21st Century
Technology-Intensive Organization. VIJENDRA KALYAN CHAKRAVARTHI NANDURI CWID: 50116137 Assignment #1 TMGT 599 01W Management of Technology in Organizations Presented to: Dr. Jerry D. Parish, Professor of Technology Management October 8

Abstract

Effective use of Technology provides a competitive edge. Technology is a means, not …show more content…
User developed innovations are a major feedstock for products commercialized by manufacturers. User innovation is a “good thing” that increases social welfare. User innovation is steadily increasing as enabling computing and communication technologies improve.
Need for organizations to implement this Technology related Practices and Principles apart from Traditional Business Management Principles and Practices: 1. Exponential increase in knowledge accelerates technological change exponentially. 2. Individuals and (increasingly) organizations create new technology and introduce it to society. 3. Technology Management has a great impact on organizational productivity; organizational productivity drives national productivity; and the national productivity determines the well-being of every person in the country, as well as the relative well-being of the country relative to all other nations. 4. A small percentage difference in organizational productivity can cause businesses to fail from competition and first-world nations to fade into second-world nations (e.g., Britain in the 19th century being replaced by the U.S. in the 20th century) 5. Technology Management is used to transform inputs into outputs in all kinds of organizations, whether

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