Technology Management by Objectives (TMO)

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.