Technology Management Post-Module Assignment (PMA) Arvinthan Venugopal MRS171011 860703-23-5499 [email protected] 017-6278785 PM Dr Astuty Amrin & Dr Roslina Muhamad UTM Razak School of Engineering and Advanced Technology Universiti Teknologi Malaysia Kuala Lumpur, Malaysia 0 TABLE OF CONTENTS CHAPTER TITLE PAGE 1 INTRODUCTION 1.1 Technology 3 1.2 Management of Technology 4 1.3 Classification of Technology 5 1.4 Method of Study 6 1.5 Objective of Analysis 6 2 LITERATURE REVIEW 2.1 Technology Forecasting 7 2.2 The Need and The Diverse Purpose of Technology 8 Forecasting 2.3 Public Transportation 9 3 DISCUSSION 3.1 Technology Life Cycle of Public Bus 10 3.2 Product Life Cycle of Public Bus 12 3.3 Transit Elevated Bus (TEB) 13 3.4 Key Factors to TEB Development 15 3.5 Difference between TEB and Low-end Bus 15 3.6 Strategic Objective and Initiatives 16 3.6.1 Strategic Objective 16 3.6.2 Initiatives 17 3.7 Technological Innovation in TEB 18 1 3.8 Critical Success Factor 19 4 CONCLUSION 4.1 Conclusion 20 REFERENCES 21 2 CHAPTER 1 INTRODUCTION 1.1 Technology Technology is a word that has a wide meaning and it could be referred to the collection of production possibilities, techniques, methods and processes in which surrounding resources are manipulated and transformed to suit the human needs. Ferre (1988) defined that technology is the practical applications of intelligence. Besides that, there is a more detailed and inclusive definition which states that that technology is any systematized practical knowledge, based on experimentation and/or scientific theory, which is embedded in productive skills, organization or machinery (Gendron, 1977). Besides that technology is also coupled with science which is the study of why natural things happen the way they do. Technology on the other hand is the use of knowledge to turn resource into goods and services. The relations between science and technology are complex and vary considerably with the particular field of technology being discussed (Harvey, 1994) In the early years, technology was classified that it is generally applicable and easy to recycle and reinvent (Arrow, 1962). However, Reddy and Zhoa (1990) mentioned that the initial concept of technology defers from a set of research in which it says that technology is specific to an organisation including the characteristics and performance properties of the design and production process (Sazali et. al, 2012). 3 1.2 Management of Technology Management of Technology is an interdisciplinary field that integrates science, engineering and management knowledge and practice. A research council’s report on management of technology has defined that management of technology is a field that has various discipline such as scheduling, development and application of technology proficiencies to profile and achieve the operational and strategic objective for any organisation (Shu, 2003). Natural Science Management Business Industrial Theory of Practice Technology Engineering A swift increase in the information flow and rapid technology advancement from the previous century has enabled the economy and social setting very complex and aggressive (Swathi et. al, 2013). Besides that technology management is known to provide means or ways to manage complexity, ambiguity and dynamic nature of businesses caused by the technology (Mahmood et. al, 2013) Managing of technology is very important since there is a swift change in the technology advancement which requires multidisciplinary methods. Besides that the fast stride of technology growth has reduced the product life cycle and there is a high need to reduce time for development of product and produce more variable organisation. Furthermore there is the need to maximise effectiveness efficiently by means of new technologies and the significance of varying the management tools caused by the quick technology change (Maja, 2014). 4 1.3 Classification of Technology In the current age, technologies without doubt, are the most important field in changing our society. How technology too can be classified into various classes. As technology can advance with time, it is best to identify the correct classification for them to suit the needs of the society (Boris, 2013). Specifically, in technology-driven industries, a firm will be confronted with implementing breakthrough in various products and processes to keep sustainable competitive advantage as well as implementing converging technology in combination of existing technology to find new growth. Due to this the diversification in technology will take place. This is why firms in the current era would like to engage in multi- tech rather than a single tech (Sang et. al, 2017). However, it is best to understand the various technologies available in the market. It is depicted in Table 1 below. Table 1: Classification of Technology 5 1.4 Method of Study The methods used to analysis this study are as below: (i) Technology Forecasting a. The need and diverse purpose of Technology Forecasting b. Technology life cycle c. Product life cycle d. Key factors to new product development e. Competitive Advantages. f. Strategic objective and initiative g. Technological innovation h. Critical Success Factor 1.5 Objective of Analysis The objectives of this study are as below: (i) Identify what is technology forecasting (ii) Identify a current product that is able to be developed futuristically in the future (iii) Present a new product that is concerning technology forecasting 6 CHAPTER 2 LITERATURE REVIEW 2.1 Technology Forecasting Technology Forecasting (TF) is basically applied to any effort to expect and distinguish the possible path, rate, features and outcomes of technological change, in the field of invention, innovation, adoption and use (Ayse et. al, 2008). Besides that for researches and decision makers who are involved in the technical sector, understanding the condition of their area of interest should be given the highest importance. Every research area is comprised of various subareas and essential technologies (Wei et. al, 2009). Furthermore, it uses rational processes to produce clear data to assist industry and government anticipate practical, ecological, political, and social significances of growths in technology. There are four elements in a technological forecast (Joseph, 1993): a. A time prospect b. A precise technology c. Some limitations to the technology d. A probability statement about the outcome Primarily Technology Forecasting endeavours to bring potential future innovation into attention. Decision-makers are worried about the alluring and unfortunate impacts of quickly developing technologies. Expectation of such technology fill in as early cautioning signals previously specific technology is foreign made or produced indigenously (Steven, 2012). 7 2.2 The Need and the Diverse Purpose of Technology Forecasting The necessity for technology forecasting is vital for the ensuing reasons. It will provide us the future oriented Research and Development. Besides that through TF it will prevent of import of obsolete technologies. Furthermore through TF it will cultivate the need for technical innovation and enable us to shift towards appropriate technology. A firm which is exploiting the TF for their future expansion will see a development of exportable technologies (Rama, 2009). Smaller companies need technology innovation in order for them to survive. Furthermore, TF is adopted into these companies to predict acceptance or dissemination of innovations, in which inputs such as rate of imitation by others and rate of reaction to advertising can be signified. These studies are mostly known as Competitive Technological Intelligence. Globalization and technology changes are seen as two strengthening aspects that play a principal part for competitiveness of organizations. Due to this blustery environment, the appropriate expectation and prediction of these factors have been extremely important for integrating technological deviations into strategic development process. Information technology, materials, and telecommunication services have received greatest research consideration as an application area of technology forecasting. Trend analysis, descriptive and matrices methods, monitoring and intelligence methods are utilized in these industries. Future developments from the former conditions have to be planned using a more advance and forecasting its techniques rather than using particular opinions. Its main purpose is to decrease any chances for inaccuracy or incidence of appraisal gaps (Abdou, 1977). Within our society technologists make a vital contribution to corporate success. The role of technology is to add new dimensions to human capability by enabling us to accomplish tasks or satisfy needs which were not possible in the past. The main forecast that is vital for corporate and technologist decision is in the strategic (long term), innovative (medium term) and operational (short term) sector (Anuradha, 2003). Thus, technology is market driven and any forecasting activity must be focussed on the market. Forecasting by technologists cannot be divorced from a consideration of market, social, economic, political as well as technological factors (Abhaysinh, 2014). 8 2.3 Public Transportation – Bus Good living conditions are the main subject frequently discussed by local and federal government of any country. This is related to the economic condition and business beneficial situations. Citizens would want a good income level which is coupled with