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MBA Review Magazine:
Technology Management Emerging Challenges
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Effective management of technology seems to be one of the most significant ways by which India can overcome the hurdles in its path of development and leapfrog towards attaining a rapid economic growth within the shortest period of time.

 
 
 

The US President, Barack Obama in the Presidential announcement speech said, "Let us be the generation that reshapes our economy to compete in the digital age. Let us set high standards for our schools and give them the resources they need to succeed. Let us recruit a new army of teachers, and give them better pay and more support in exchange for more accountability. Let us make college more affordable, and let us invest in scientific research, and let us lay down broadband lines through the heart of inner cities and rural towns all across America."

Back home, Prime Minister of India, Manmohan Singh as part of the Science and Technology Policy (2003), of India stated, "We take satisfaction from the fact that over 100 global companies have come to India to set up Research and Development (R&D) centers, affirming the intellectual capital of our scientific and engineering community. Science must grapple with the key challenges facing the country today. These include the pressures of increasing the population, greater health risks, changing demographics, degraded natural resources, and dwindling farmlands. We need new Science and Technologies (S&Ts), new priorities and new paradigms to address these fundamental challenges. We in India are practicing new physics and new chemistry to make new materials. These are of direct relevance to the Millennium Development Goals of the United Nations."

These words from the heads of two powerful nations enunciate the immense transformative power of S&T. Although the current and emerging needs of the two nations are very different, the acknowledgement that S&T forms the basis of economic progress remains common.

We live in a technology-driven world where rapid development of technology has become a way of life. Technology has continued to play a pivotal role in the expansion of human endeavors, whether as an individual, organization or a nation, towards gaining a competitive edge in the global marketplace. Human civilization has grown at a swift pace with the help of innovation and application in the field of S&T. In the last four decades, there have been some major breakthroughs in the field of S&T that have impacted various aspects of human life. It has always been a challenge to manage the innovation of S&T to put it to the greatest human benefit. With our growing dependence on technology and the rapidity with which technology expansion is taking place, it has become a challenge to manage this technological development for producing defined results that lead to human advantage. In this backdrop, technology management is fast becoming the focus point of development and is going to play a crucial role in the coming years.

 
 
 

MBA Review Magazine, Technology Management, Effective Management, Research and Development Centers, Millennium Development Goals, Technological Development, Information Technology, Post-liberalization, ICT Software, Commercial Satellites, Pharmacology Sector, IT-enabled Services, Gross Domestic Product, GDP, Agriculture Sector, Rural Technology and Business Incubator Center, Small and Medium-sized Enterprises, SMEs, Indian Telecom Industry.