MeetTheBoss Blog

Technology Management: An Essential Component of Every Successful Business

Posted by MeetTheBoss TV

Mar 22, 2011 2:40:00 PM

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What is technology management?  In today's corporate environment, it is essential that leaders and managers understand the term "technology management" and how it applies to the success and sustainability of the company.  As amazing as it may be, many people (even small business owners) have no idea what technology management is; this article will help clear up what seems a confusing concept for many.

There are many strategies used today in the business world that play a part in the total success of the company.  Planning, organizing, implementing, monitoring, evaluating, staffing - these are all strategies that are necessary to take any organization to its full potential and maintain that level of success.  Technology management is much the same; the difference is that the word "technology" stumps many.  Think about all of the things that make life easier today; cell phones, computers, software - these are examples of the technological advances that have contributed to making modern life easier and more convenient.  Hence, the term "technology management" simply means the management of technology!

Throughout every level or division of the company, technology management is essential; this includes communications, marketing, product development, and efficiency in reporting.  Today, technology management is one component of the business environment that allows companies to remain competitive in any market, even those with fierce competitors.

Those who work in the technology management field are often responsible for determining whether a certain technology is valuable or will be an asset to the performance and success of the company.  Additionally, technology management is often defined as those individuals or team members who work to make all things technical (computers, software programs, etc.) easily usable to the people who use these devices or programs.  

As Nvudev describes it, technology management is a necessary component to corporations and companies both big and small looking to expand; those individuals who make up the technology management team for any business can arrange and organize information so that the data is useful in making future decisions.  In technology management, the proper use of information can either be of extreme benefit to a company, or it can save an executive or manager of that company from making a hugely detrimental mistake that may actually put the business at risk of total failure.

Information is one integral component that helps determine the course of all businesses.  Information can be used to analyze past performance, expenditures, revenues and more, but it can also be used to predict a pattern for the future.  This is why technology management is so vital to the heartbeat of business today.

In today's world, technology continues to advance at a rapid pace; this is why it is so important that companies and corporations implement technology management in to the strategies they use to remain productive and competitive.  Every business is looking to thrive and expand their horizons in order to become more profitable and cutting-edge; without the implementation of effective technology management, businesses will be left behind as competitors continue to soar ahead.

Watch this video interview with Austin Adams, former CIO of JP Morgan Chase where he talks about technology management and outsourcing.
 

Topics: Technology