Technology Management as a Dynamic Capability

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Management is a complex process that involves huge risks, opportunities, as well as resources. The process of managing resources faces a number of risks where critical decisions must be made to achieve the goals. In order to direct resources effectively, strategies must be formulated to match the objects in an organization. Policy making involves assessing available resources, valuing their worth, and attempting to plan their consumption (Cetindamar, Phaal & Probert, 2009). Therefore, entrepreneurs and organizational managers more often than not face several issues hence lose focus on ultimate objectives. This problem arises mostly where planning and control are not effective to center on objectives. To solve the issue, a business review should be done through strategic planning, which is core to the successful operation (Tidd & Bessant, 2011). A strategic plan should furnish organizational objectives in a more simplified and detailed form. This is aimed at explaining the business functions to other personnel. As a result, employees are informed, motivated, and involved in decision-making thereby influencing change and enhancing performance.

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However, the success of using strategy to solve managerial issues depends on control, as well as the use of technology to give more sound ideas on the matter. The business plan must thus link the innovative technologies to leadership styles in order to polish the control process (Lau & Bruton, 2011). The production process follows the supply of materials where efficiency is central to goal attainment. Organizational problems never cease due to the changing environment and conditions in operations that introduce new methods. Many business managers and entrepreneurs attempt to solve most of the issues by creating a culture of innovation; this is because the idea can give an organization much strength if it is magnified to provide competitive advantage. Innovative leaders could be accounted as very efficient in generating new ideas to solve past and future problems in general. However, many issues that erupt in management involve employees (Shane, 2008). This is because the staffs operate departments and manage resources to accomplish the organizational goals. In that case, managers must review the needs of employees in order to appraise and motivate them. Thus, this requires quality leadership as it is the backbone towards organizational change.

Organizational problems call for diverse managerial actions with the aim of influencing change to improve efficiencies. This can be done by focusing on outcomes where leaders deal with an issue from an objective perspective. The focus is to set up efforts relative to expected outcomes rather than directing results. This is a future oriented basis of conflict solution that purpose to hold teams responsible for actions in goal furtherance. Innovation strategies focus on giving information to all parties involved in the promotion of strategic goals. Communication problems have at one time or the other hindered business success; this is because communication breakdowns lead to misinformed decisions. Attributable to this, vital processes fail thereby posing threats to the survival chances of an organization (Sehgal, 2010). Communication is vital in ensuring that a high level of performance is achieved because effective instructions must be offered to employees in order to promise prosperity of outcomes. Communicating short term goals to staff and aligning them with long term objects is central to building an organizational culture that promotes commitment. However, this is difficult for most businesspersons and organizational heads since conflicting ideas never end. Nevertheless, this can be resolved using technology to promote trust and confidence among stakeholders.

Technology offers better methods of communication thereby enhancing performance through quality decision making. The problem remains the effective use of information technology to create lasting relationships among the parties. The aim is to develop trust among stakeholders in order to enhance the chances of accepting new challenges. The chief information manager is tasked to give correct and accurate data regarding new undertakings to executive bodies that assess the risks and benefits in them. The executive directors ought to direct subordinates towards the strategic goals by providing information through the right channels in a manner that it is not prejudicial. In that case, fighting organizational bias is important as it ensures people work together in teams. Management is all about inspiring subordinates to work competently (Tidd & Bessant, 2011). This involves motivating stakeholders in an attempt to make them innovative and more elegant. However, this is not easy since the process involves resources, which are limited. As a result, cost-benefit analysis is critical in such a situation in order to make sound judgments on the course of action. New technological devices for managers and entrepreneurs can be used to evaluate several choices and give the best option based on value (Shane, 2008). This has changed the leadership aspects of enhancing competency hence influencing productivity along with improving relations.

Managers and entrepreneurs can use technology strategy to solve organizational problems from different perspectives. Information technology offers high-level benefits through increased efficiency and productivity hence attainment of objectives. The most important aspect in solving organizational relationship issues is the matching of departmental objects to strategic goals as employees will have an underlying duty to work as a group for the benefit of the whole organization. The technology strategy makes it possible to provide staffing data, skills, and budgetary data to the executive body for sound decision-making. Leadership issues include recognizing patterns along with events in organizational settings. Managers should demonstrate an understanding of the business strategic goals along with the impacts on performance (Shane, 2008). This involves identifying new opportunities and recognizing new undertakings to solve problems of resource allocation. The leadership required in this process should be directional to ensure consistency of goals and functions. Information technology management tools through adequate inventory control techniques can determine the internal capabilities of an organization. This solves the inventory issues within an organization through effective communication and operations. This makes it simple for managers and entrepreneurs to assess their capacities, threats, and opportunities towards accomplishing personal along with organizational goals.

Strategic management involves recognizing the organizational values and providing information to members for functional duties. This takes account of supply chain strategy, which is an iterative procedure that measures cost relative to benefits in order to value the worth of operational elements. Time factor is very critical to business concerns in that lack of efficiency causes poor yields in production and returns (Drucker, 2010). Therefore, supply chain management gives a clear method to accomplish the goals of an organization through supportive functional elements. Supply chain strategy aims at cutting down costs while maximizing efficiencies. For instance, an organization may select a strategy aimed at supplier management with the purpose of remaining competitive (Lockamy & McCormack, 2004). This allows for the understanding of the functioning among distributors, customers, and venders hence reinforcing relations. Leadership in the business world is guided by the need to initiate change and solve social problems. This is attainable through creating value from resources hence influencing culture, as well as interests. Internal problems include resource allocation, employee motivation, and effectiveness of operation while external issues to management include client satisfaction, market leadership along with self-sustenance. Thus, relations between internal forces and external forces form the basis towards a successful organization (Muller, 2011). To integrate the needs of stakeholders, strategies must be formulated to match their desires to the organizational goals. To achieve this, focus should be on the development and acceptance of technology strategy that forms the base for planning and control. Thus, Chief executive officers must work to integrate technology strategy to the corporate strategy.

References

Cetindamar, D., Phaal, R., & Probert, D. (2009). Understanding technology management as a dynamic capability: A framework for technology management activities. Technovation, 29(4), 237-246.

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Drucker, P. F. (2010). Technology, management and society. Boston: Harvard Business Press.

Lau, C. M., & Bruton, G. D. (2011). Strategic orientations and strategies of high technology ventures in two transition economies. Journal of World Business, 46(3), 371-380.

Lockamy, A., & McCormack, K. (2004). The development of a supply chain management process maturity model using the concepts of business process orientation. Supply Chain Management: An International Journal, 9(4), 272-278.

Muller, H. (2011). The transformational CIO: Leadership and innovation strategies for it executives in a rapidly changing world. Hoboken, NJ: John Wiley & Sons.

Sehgal, V. (2010). Supply chain as strategic asset: the key to reaching business goals. Hoboken, NJ: John Wiley & Sons.

Shane, S. A. (2008). Technology strategy for managers and entrepreneurs. Upper Saddle River, NJ: Pearson Education.

Tidd, J., & Bessant, J. (2011). Managing innovation: integrating technological, market and organizational change. Hoboken, NJ: John Wiley & Sons.

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