THE IMPORTANCE OF

MANAGEMENT
TECHNOLOGY

What is technology management? Technology management is a set of

management disciplines that allows organizations to manage its technological
fundamentals to create competitive advantage. It is very important for an
organization to manage its technology strategically because when it is not well
managed, it might result into a big loss in the organization. Managing technology
involves planning, designing, optimizing, operation and control of technological
products.

Technology management aims at maximizing the cost effectiveness of investments in

technology development which contributes to the value of an organization. If an
organization fails to plan for its technology it might encounter issues like data loss or
misuse of that technology by its employees. But if the organization creates a frame
work and plans for its technology, its output will increase. Below I have listed some
of the importance’s of technology management:

 Growth of the Firm: The process of managing technology involves

organizing, coordinating, and managing activities. If technology is well
managed, an organization will improve on its operations and reduce on
operational costs of the organization. The technical staff will have a challenge
of analyzing what customers need and specify which technologies are
supposed to be implemented as well as spot the ones to be stopped. After this
 process of analyzing what is necessary, both the organization and its consumers
will benefit which will lead to the growth of that organization.

 Eliminates duplication: If technology is well managed, it will automate

information flow in an organization. In this case, the technical team will set up
a management information system (MIS) which provides periodic,
predetermined and ad-hoc reporting capabilities. In most cases the MIS reports
summarize or aggregate information to support decision-making tasks. So,
MIS’s are systems that have information-processing responsibilities that include
information through online analytical processing (OLAP) and conveying
information to whoever needs it. To a small organization this process might be
expensive, so people in charge must calculate return on investment. MIS’s are
commonly known as ‘’management alerting systems ‘’’ because they send
alerts to management concerned to the existence or potential existence of
problems or opportunities.A management information system (MIS) provides
reports in many different forms. Its reports can be periodic reports ,
summarized reports , exception reports , ad hoc reports and comparative
reports.

Periodic reports ; are reports that are produced at a predetermined time interval such
as daily , weekly, monthly or yearly.

Summarized reports; these are simply reports that aggregate information from
periodic reports.

Exception reports; these show only a subset of available information based on some
selection criteria.

Comparative reports; these show two or more sets of similar information in an

attempt to illustrate a relationship.

Ad hoc reports; these are reports you can generated at any time . They are just the
opposite of the periodic reports.
 

 Local
Four Functions of Management Technology
by David Ingram

Management technology consists of a wide range of hardware and software solutions created to enhance
managers' performance in their key functions. Since technology is adapted to serve the functions of
management, the functions of technology can be described in the same terms: communication (or leading),
planning, monitoring and control. Understanding how technology can enhance each function is key to
using technology effectively to gain competitive advantages.
Communication

The first function of management is leading others, and communications technology can enhance
managers' leadership skills when installed and used properly. Communications networks allow managers
to speak with employees quickly via email and interoffice chat, while telecommunications technology
allows managers to communicate quickly with employees inside and outside of the office via phone. Video
conferencing software can allow managers to meet with employees “face-to-face” when they are
geographically distant, even on opposite sides of the world.

Planning

The planning function of management involves collecting, arranging and analyzing large sets of data on a
range of metrics, and technology is suited perfectly to assist in these tasks. Budgeting software can help
management teams to construct detailed, informed and reasonable budgets, for example, while materials
requirements planning (MRP) software provides feedback on the ideal quantities and dates for inventory
purchases. Managers can take advantage of logistics planning tools, demand forecasting, workforce
planning tools and a range of solutions for virtually every planning need. Not only can technology simplify
the planning process, but it can ensure reliability by aggregating large volumes of data that would be
impossible for managers to remember and extremely challenging to record manually.

Monitoring

Managers are responsible for keeping plans on track once they are enacted, whether it be for short-term
projects, like marketing campaigns, or ongoing projects, like production setups. Hardware and software
technology aid in quality control monitoring, productivity monitoring and the basic supervision of
employees. Quality-control software can alert managers when the number of mistakes coming off a
production line begins to grow, for example, and electronic time-clocks can aid managers in keeping tabs
on hours worked by each employee.

Control

Control is the necessary counterpart to planning and monitoring. Managers must be involved personally in

the operations they oversee to ensure that plans are enacted successfully. After spotting areas of needed
attention through monitoring technology, managers can use a range of control-focused technology to make
changes, solve problems and increase productivity. Managers can use purchasing software to initiate repeat
purchases with a single click of a mouse, for example, or to alter shipping routes in transit.

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The term "intellectual property" broadly refers to ideas and concepts that are unique
and potentially valuable, such as an invention or a work of fiction, and the
determination of who (or which entity) owns these ideas or concepts. If you own
intellectual property, it means you have the rights to manufacture or license an
invention, use a certain distinguishing marks on your packaging or commercials, or
publish copies of creative works (such as sound recordings or books). Businesses
and individuals also may license intellectual property from the owner without owning
it.
There are three distinct types of intellectual property -- patents, trademarks, and
copyrights -- which are often confused with one another. This article focuses on
patent law and how it differs from trademarks and copyrights.

See FindLaw's Patents section for more detailed information.

Definition of a Patent

A patent is a property right granted by the U.S. Patent and Trademark

Office (USPTO). A patent holder may exclude others from using, making, or selling
an invention for a limited time. As long as the applicant pays the applicable
maintenance fees, the exclusive right for utility and plant patents lasts for a term of
20 years from the application date. The exclusive rights granted for a design patent
lasts for 14 years from the date of the grant.

Distinctive design, graphics, logo, symbols, words, or any combination thereof that uniquely
identifies a firm and/or its goods or services, guarantees the item's genuineness, and gives it
owner the legal rights to prevent the trademark's unauthorized use.

Different Types of Patents

There are three types of patents: utility, design, and plant.

 Utility patent definition: Granted for new, no obvious, and useful inventions for
processes, machines, manufactures, composition of matter, or if the invention makes
an improvement on a previous invention.
 Design patent definition: Granted for new and original ornamental designs of a
manufactured product. The appearance of the object receives protection instead of
its functionality.
 Plant patent definition: A patent for the invention or discovery of an asexually
reproducible plant that is distinct and new.

The Difference Between a Patent and a Copyright

While a patent, with the exclusion of a design patent, protects inventions of new
processes, copyright protects published and unpublished original works, including
works in literature, music, art, architecture, software, and choreography. Like a
patent holder, the copyright owner has exclusive rights, including the right to
reproduce, make derivatives, distribute copies, display the work in public, or perform
the work publicly.

In some cases, an applicant can obtain both a copyright and a patent. Overlap, for
instance, can occur between a design patent and copyright in circumstances where
the ornamental design qualifies both for a patent and as a work of art subject to
copyright protection.

What is the Difference Between a Patent and a Trademark

 Patents prevent others from making or selling an invention, but trademarks protect
the words, phrases, symbols, logos, or other devices used to identify the source of
goods or services from usage by other competitors. Trademarks give the owner
exclusive use of certain images and phrases, and the right to prevent others from
using a similar mark that would confuse consumers about who was producing the
goods or services the consumer was buying.

Typically, overlap does not occur, but in some cases, when a design patent protects
the ornamental design of the product and the design is also used as an identifying
symbol, both trademark and patent protection may apply.

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Types Of Trademarks
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Types Of Trademarks
It is thought that there are only three or four different types of trademarks. However, there
are many types of trademarks that may receive protection under the Lanham Act. We offer
examples of trademarks below.
In addition to trademarks‚ service marks‚ trade names‚ trade dress, collective marks‚ and
certification marks all fall under the broad heading of trademarks. Also, each type of
trademark can be considered fanciful, arbitrary or suggestive on the stronger side,
and descriptive and generic on the weak side. For information about registering a trademark,
you may see our trademark registration page

DIFFERENT TYPES OF TRADEMARKS

TRADEMARKS
A trademark is a word‚ name‚ phrase‚ logo‚ or symbol used to identify the source of products
or services and distinguish those products from others. It is highly recommended that a
trademark be registered, but trademark rights can also be acquired by common law. For more
information on registering a trademark, see our trademark registration page.
Trademark Examples: Some famous trademark examples are: Amazon, Apple, Facebook,
Google, and Tesla.

SERVICE MARKS
Whereas trademarks identify the source of goods‚ service marks denote the source of
services. A business may utilize a service mark to refer to any commercial service from pet
grooming to legal representation. A well-known example of a service mark is “Geek Squad‚”
which identifies a national computer repair and troubleshooting company. Though service
marks are technically distinct from trademarks‚ they receive the same protection and have
similar requirements for registration. To achieve trademark status‚ rather than placing
products bearing the trademark into the stream of commerce‚ the trademark holder must offer
services‚ using the service mark as an identifier‚ to be able to obtain protection. Please see
our service mark page for more information.

FANCIFUL, ARBITRARY, AND SUGGESTIVE TRADEMARKS

These are the strongest types of trademarks and are entitled to the most protection. Please see
our fanciful, arbitrary or suggestive page for more information.

MERELY DESCRIPTIVE, DESCRIPTIVE, AND GENERIC TRADEMARKS

These types of trademarks are considered weak or not protectible. Please see our
and descriptive and generic page for more information.

TRADE NAME
Rather than identifying a certain product or service‚ a trade name is designed to identify the
company as a whole. A corporation or business adopts a specific trade name by using such a
name to identify their business‚ perhaps by filing a “Doing Business As” (DBA) form or
incorporating within their jurisdiction. A company may have a particular trade name and
manufacture a variety of products each bearing different trademarks. For example‚ “Proctor
& Gamble” is the trade name of a large company that holds many trademarks including Oral-
B. “Church & Dwight” serves as a trade name for the company that produces products
 bearing the Arm & Hammer trademark. Generally trademark applications should be filed for
trade names just as they should for trademarks.

TRADE DRESS
Trade Dress is the overall design‚ appearance‚ and aesthetic attributes of a product’s
packaging. While functional designs are covered under patent law‚ to receive trade dress
protection‚ the design must be non-functional and purely aesthetic. Trade dress can
encompass a variety of designs from the packaging or wrapping of food items to the interior
and exterior design of restaurants. In order to obtain protection‚ trade dress requires
secondary meaning. For more information, you may see our trade dress page.

COLLECTIVE MARKS
A collective mark is a trademark used to indicate membership in an organization‚
association‚ or union. For example‚ the collective mark CPA indicates the Society of
Certified Public Accountants and their members. A certified public accountant can use the
CPA mark to express to others that she is a member of this society and is therefore qualified
as an accountant. In addition‚ an accountant can distinguish his services from one who has
not qualified for membership in the Society of Certified Public Accountants.

CERTIFICATION MARKS
A certification mark is a word or symbol that indicates that a product or service has been
approved by or meets the standards or qualifications of a certifying organization or
association. A certification mark may be issued by an organization to indicate geographical
origin‚ quality‚ type or process of manufacture‚ or other attributes. Examples of certification
marks include Washington Apples‚ Certified Organic‚ Fair Trade‚ and the Cotton logo.
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Editorial

Published on July 2nd, 2018 | by Rashid Feroz

Advantages of technology in business

Due to the latest technological advances, businesses have greater options for effective communication, ways to
increase productivity as well as to save business costs by automating business operations and processes. In these days,
organizations and companies are using computers, latest software & apps, high speed internet and IoT for
transforming their businesses from local markets to international market with an intention to compete giant
competitors in the industry from all around the world. No matter which industry it is or what type of business running
you are advantages of technology in business are countless. At the end of a life-cycle of your business IT devices,
make sure you recycle them responsibly. Our friends at All Green Electronics Recyclingwould be happy to help. Let
we uncover some of them here.
Increased productivity & efficiency
Automated business processes and operations are one of the major benefits of technology for business. Computers
connected with high speed internet have allowed the workforce and authorities to collaborate and discuss business
related things more efficiently than ever. In this way, they can better handle various business related tasks and jobs
even from distances and without travelling for the workplace. Technology has changes the way companies and
organizations work to chase their business objectives and goals. They can accomplish assigned tasks and duties
rapidly by using different devices, machines and equipment to increase the productivity & efficiency at workplace.

Effective communication
Benefits of technology in the field of business communication are also unavoidable. In this era of mobile devices,
workers and employees and connected with each other any time to converse business related issues in real time to get
things on track without waiting for hours. Virtual meetings are increasingly implemented by businesses and
companies to keep the business operations running even if a senior manager is out of town or country due to some
reasons. They can hold video conferences and meetings with help of latest communication apps and high speed
internet to communicate quickly and effectively.Companies can also provide competent customer services to build
trust and it is only possible with help of the business technology.
Automated business processes with help of software
and apps
Companies and businesses are increasingly shifting to automation due to availability of latest business software and
apps. For example, most of the businesses are using different software and apps to automate several business
operations and processes such as computerized maintenance management system to automate and boost maintenance
management and a spam filtering serviceto prevent spam in business emails as well as to avoid data breach due to
email phishing. There are so many productive software and apps that are performing well to make business operations
automatic.

Reduced business costs

Increase in productivity due to implementation of technology in business is the best way to reduce business costs by
having a few workers at workplace. Technological advances are playing a vital role in reducing business costs and
expenses in many ways. For instance, as majority of the companies are using maintenance management software,
properly maintained business assets are less likely to breakdown that can help the business to run its operations
seamlessly without facing issues of asset failure. On another hand, latest communication solutions are also reducing
the business travel costs as there will be no need to meet an oversees client face to face after travelling hundreds of
miles just because of video calling apps and software.

Mobility
In this era of handheld devices, it is very easy to access business software and database to add or obtain details,
employees can use their personal devices to complete several business related tasks even from their homes if they are
authorized by the higher authorities to do so. Most of companies and organizations are also using their own networks
to make increase the business mobility as well as to let their employees work from home or any other location without
visiting the workplace or office. In this way, they can accomplish their assignments and tasks in time without facing
troubles that can increase overall productivity and revenues of the business.

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Tags: advantages, business, technology

About the Author

Rashid Feroz

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Business technology management (BTM) is a term for a group of services

intended to help businesses that might not have their own information
technology (IT) department. BTM can include technology planning, project
management, support, database services, disaster recovery, network
management, security, and document services such as e-billing, document
formatting, and mass printing and mailing. A company that offers BTM
services may offer consulting or the actual service itself.