Strategic Management

Technology management for companies is about sustaining and improving a company’s competitiveness in the long-term. The aim of Technology Management is to sustain and improve the competitive position of a company’s technology exploitation. The management of technology should comprise three major factors: leadership, motivation of employees and appropriate management of technology (Li-Hua R, K halli T, 2006). The goal of Technology Management is to create a synergy among all the factors (i.e. research, development, planning, engineering, machines, software, production, and communication) to make them work together in the most efficient way to produce profit for the company in the long-term. Companies are under constant pressure to be innovative, to introduce new products and services to create difference in the market, and to make process innovations to improve their business performance (Schilling M.A, 2008). Rapid changes in the business environment and global competition forces companies to understand the business opportunities and risks of new technologies, and how important technological innovations are for industrial competitiveness (Mogee, 1993). Technological innovations can involve changes in products and services or changes in the ways of operating (i.e. process innovation) (Tidd J, Bessant J, Pavitt K, 1997). The aim of this study is to identify the common perception of Technology Management functions in IT companies, which elements are the most critical for them, and where the biggest development needs are in practice. The study was realised qualitatively in ten IT companies in Bangalore. The results show many similar characteristics in the IT companies, such as the nature of the technology strategy, the mode of co-operation in technology development, or the ways of acquiring technologies. However, differences were also identified mainly in the companies’ business models and company size.

None of the functions of Technology Management (Technology Management), were evaluated as the most important by the IT companies. However, certain functions of Technology Management were highly appreciated and are mostly related to the engineering activities, such as product development, technology development, information and knowledge management, life cycle management, and production process management.

Indian IT companies have been well known for their services and product development related capability, but there are shortcomings in the strategic and business management levels. Thus we decided to collect knowledge about the current state of Technology Management in IT companies. Before analysing the practices, we outline the functions of technology management according to the current literature. After that, we examine these functions in practice and identify the areas for development and importance of those.