Technology – A Crucial Asset Needing Management

Every company, regardless of its size and activities, is touched in some way by technology.  For example, the use of computer hardware and software has now become commonplace for recording the terms of business transactions and creating and maintaining business records and even the smallest firms need to be attentive to improvements in computing tools that can lead to lower costs and greater efficiencies.  Technology becomes even more important for the firm as its activities expand to include product development and manufacturing and it looks to stake out a technology-based competitive advantage.  Given the importance of technology in so many of the activities engaged in by their companies, the founders and other members of the executive team need to understand the science and practice of technology management and the steps that should be taken to develop and implement the company’s technology strategy, conduct technology assessments and audits, create an effective management structure for technology, develop and implement plans for acquiring necessary technologies and perfect and protect the company’s legal rights to use its intellectual property.

The International Center for Growth-Oriented Entrepreneurship has just released a chapter on "Technology Management" from its Library of Resource for Growth-Oriented Entrepreneurs on Technology Management which is available for free downloading and sharing by clicking here.  Also, take a look at the Center's article on LinkedIn Pulse discussing important things you need to consider in managing your company's technology portfolio.

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