In the context of a business, technology has a wide range of potential effects on management:
1. Reduced costs of operations. 2. New product and new market creation. 3. Adaptation to changes in scale and format. 4. Reorganized administrative operations.
The U.S. National Research Council in Washington, D.C., defined management of technology (MOT) as linking "engineering, science, and management disciplines to plan, develop, and implement technological capabilities to shape and accomplish the strategic and operational objectives of an organization" (National Research Council, 1987). While technology management techniques are themselves important to firm competitiveness, they are most effective when they complement the overall strategic posture adopted by the firm.