BTM454 C1 Nature of Technology Management

What is the primary role of technology management in today's business environment?

• To focus solely on technology innovation without considering organizational goals

• To monitor and manage technological resources and strategies to achieve organizational goals

• To limit the use of technology to minimize costs

• To replace traditional business processes with technological alternatives

A goal-oriented approach to technology management ensures that:

• Technology is used without any specific objectives

• Technology investments are aligned with organizational goals

• Technology resources are managed in isolation from consumer needs

• Technology decisions are only based on cost-saving measures

What is the significance of technology management being interdisciplinary?

• It focuses solely on engineering and technological aspects

• It integrates insights from multiple fields such as business, data analytics, and economics

• It minimizes the involvement of non-technical fields

• It only addresses the technological components of a business

Which of the following best describes technology management as a system?

• A random set of activities for technological resource allocation

• A structured and interconnected approach to managing technological resources

• A focus solely on the engineering department of the organization

• A disconnected set of processes and operations for technology adoption

What is the primary focus of risk management in technology management?

• To avoid adopting new technologies

• To identify, analyze, mitigate, and monitor risks associated with technology initiatives

• To implement technology without considering the risks

• To ensure that technology investments are minimized to reduce exposure

How does effective technology management benefit society?

• It only enhances profits for businesses

• It primarily focuses on reducing technology adoption

• It promotes sustainability, advances education, and fosters communication

• It limits technological innovations to reduce complexity

Which of the following is true about the evolutionary nature of technology management?

• It remains static with minimal changes over time

• It requires continuous adaptation and improvement in technology, processes, and market alignment

• It involves adopting technology only when absolutely necessary

• It eliminates the need for businesses to adjust their strategies over time

Why is an interdisciplinary approach critical to effective technology management?

• It ensures that only technical experts are involved in technology decisions

• It combines insights from multiple disciplines to address complex challenges and strategic goals

• It excludes fields like human resources and marketing from technology decisions

• It limits technology development to the IT department

What is one of the key benefits of managing technology in a socially beneficial way?

• Enhancing competitive advantage without considering societal needs

• Promoting sustainability, improving public services, and driving economic growth

• Limiting the use of technology to reduce business complexity

• Exclusively focusing on technological risks and compliance issues

In technology management, what role does continuous improvement play?

• It helps businesses avoid adopting new technologies altogether

• It ensures that technology management remains static over time

• It drives ongoing advancements, market adaptation, and process optimization

• It eliminates the need for regulatory compliance and security measures