Management of technology - Essay Example

In the past, the value of a company was assessed largely on the basis of its capital and physical asset such as land, buildings, equipment, and inventory. Today, the real value of a company is much more that a value of it physically asset or its simple accounting net worth. Technology adds value to the assets of the company, the technology resides In the company’s people and Its technological systems. The technologies that exist in a business are the technological assets of that business. These assets may therefore include hardware, software, brainwave, and know-how.

They constitute the collective knowledge and technically capabilities of he organization, including its people, equipment and systems. Goodwin Integrated Industries bad Is a company that used the technology management In his way of management and business, a company that Is heavily involved in rubber products industry, its business is catered to the tire retreating business while the balance is technical rubber compounds used for items such as automotive parts and high-pressured hydraulic hoses for aircraft.

Technically, Technology management is played a key role to successful and important part In this challenges and competitive world, because it provides all the criteria and genealogical fundamentals that today fast forward world needs, in orders to improves the products and capability of the corporation. COMPANY BACKGROUND Goodwin Integrated Industries Bertha (“BIBB”) is a Malaysian public listed company involved in the development, manufacturing and distribution of technical compounds, retreating compounds, tire compounds and other rubber related products to 45 countries worldwide.

It also provides other services such as retreating, total retreating business system and professional technical consultancy to its customers. Goodwin has manufacturing plants in East and West Malaysia, as well as in China, Indonesia and distribution offices in Australia and Sweden. Goodwin is an investment holding company. The Group, through Its subsidiaries, is Involved in the products to 45 countries worldwide. It also provides retreating services and professional technical consultancy to its customers. Front view of Goodwin Rubber office) VISION, MISSION & VALUE Vision To be the most reliable rubber technology and rubber compound provider. Mission Using innovation and technology to consistently deliver products and services that add values to end-users. Value Integrity, Trust and Respect. DISCUSSIONS Technology has always been intertwined with society progress but never before tin history has technology been so visibly linked to improvements in standards of living.

The human aspiration for a better life increasingly depends upon technology and its effects on all aspects of life. Because of technology’s pace and scope of change are having profound effects on every human institution. Yet, in no other time in history has technology been as pervasive in human lives as it today. To an ever increasing extent, it has invaded every aspect of human endeavor. Government operations, global operations, privates’ enterprises, and individuals are giggly dependent of technology for their success.

Technology is continuously progressing, and world markets are continuously shifting. The success or failure of an organization depends on the organizations ability to ride the wave of change and still emerge as a winner. Science and technology policies have a major impact on a nation’s competitiveness: therefore, the process of technological innovation must be well understood. Infrastructure and management of R&D is a key aspect, and entrepreneurship is vital for development of new technology.

An organization can be thought of as a vehicle for introducing one or multiple genealogy to society. The goal is to achieve a set of objectives. The technologies used can vary in level, from being very basic, on one end of the scale, to being super high technologies, on the other hand, the organization can be non profit or for profit. Both types are considered production organizations, with production being any activity that results in the conversion of resources into goods or services. Technology in business and management.

From that, it’s make their business more successful and competitive, additionally, can offer more Job opportunities to society’s. They also apply an effective management such as they sustain from global economy downturn in 2008. Goodwin company using technology in their overall company operation, for the examples company has its own retreating plant, one of the biggest in the world, churning out some 20,000 retreated tires a month, it show that practically Goodwin use new technology in their operation & business.

This company also done their market study for an emerges their business company: examples their sold their retreating tires to premium market, which is customers and Clients are able to pay to continue their business in any kind of environment. Even Goodwin product is generally 20%-25% higher in price. Yet, clients still come to buy their product because their product is better and high quality. From the management aspect, Goodwin have making deal with some well known company such as Kowloon Motor Bus Company, rate among the best managed bus companies in Asia.

The fleet operator has an in-house retreating plant that retread up to 5,000 pieces of tires every month using Goodwin compound. It shows that Goodwin management using right strategy marketing to increase profitability. Research and development (R&D) is a main factor that gives impact in an organization or countries. Mostly, Goodwin product produce from R&D for examples Second Generation Superegos Beluga (retreating tires) , named after the beluga whale, which was the results of two years in-house research & development (R&D).

The new compound (Superegos Beluga) has an improved resistance to abrasion, chipping and improved tensile strength. It also lowers the cost of running for fleets with additional savings through fuel efficiently. Joint-venture partners in terms of knowledge transfer are one of the smart choices and can benefit substantially an organization. For examples Goodwin Joint-venture tit German company: Gummier Grabbing Productions Gumbo, a well know compounded in the European market, purpose for technology transfers from German company to Goodwin itself.

Joint venture & technology transfers can be extremely advantageous for all partners since they provide participation to income and growth. Developing countries give joint ventures preferential treatment because they present the desired mix of foreign technological and capital involvement, they guarantee local management, and affect an efficient transfer of technology. Programmed. To date, seven franchisees have sign up, it all in china. Franchises are good solution of company who want to gain their assets and emergence their company and brand to worldwide.

By building a franchising system, people can instantly recognize a good product from the raw material used up to the process that are certified by Goodwin company. At the Brand Entrepreneurs Conference 2010 , Raja Dry Nazi Shah said, ‘as I see it, brands originate from the vision that management has for the company, and the success it has in translating that vision into mission, and that mission into accomplishment. Great value inspire great companies, and great companies produce reheat product’ (Malaysian Business Magazine, August 1st-1 5th, 2010).

The information age of the late twentieth century has created an explosion of knowledge and has had a major impact on the rate of technological rate. The accelerated rate of technological change is having a profound impact on society and the standard of living. As we move into the twenty-first century, the Industrial Revolution has given way to the technology revolution. CONCLUSIONS Conclusions that I can make here is management and technology mutually need between each other, if there have a technology so do a management to manage it.

In this fast forward world, management emerges in various varieties for human institutions to learn it and know it. Technology management is a way to emerges a company and to introduce their product. Additionally, the management of technology is one of the factors or the way for company who want to climb to the top. Management also technology tells us how a business can manage its technology for competitiveness and business success. How a country or region can use technology to enhance the competitiveness of the businesses that operate in it, for economic development and to create wealth among its people

Yet, there is an emerging technology looming in the horizon, the internet. Internet technology is one of the most important in life now, the Internet is growing rapidly today, organization, government, rest house even a villages have and know how to used a internet. Internet also can promote the company business, in other meaning to commercial their brand to the world. In my opinion, Goodwin is practically using technology management practice in operation and their business.

From the marketing strategic, franchise and the research and development (R&D) projects. One of the examples is their use R&D in heir entire product, to produce more long-term product, and with full priority on heat dispersion and consistency using the highest quality raw materials and Managerial factors also rules the subject of successful, I think the chief executive officer of the Goodwin company ATA Boon Wee is a well manager, his manage his company well and ensure that all company requirements, new technology and unreleased latest business opportunity. He lack of trading interest in Malaysia’s larger rubber computer is largely due to management disinterest in what happen to the share price, also contributed to the success of this company. As Ceo says ‘My mentor tells me focus on the business and that the share price would take care of itself, I followed his instruction'(Malaysian Business Magazine, August 1st-1 5th, 2010). Quality is the ultimate factor for success in every level of business and life. Goodwin has chooses to maintain its respectable quality standard in the market place to fulfill their responsibilities and objectives.

Without questions, Goodwin and its employees are obligated to continuously improve the effectiveness of the Quality Management System in ensuring total product satisfaction. The Society must benefit from their laity as a whole. Quality aspect is a major priority for customers to to assessed, ‘quality is the natural fallout of a never-ending examination of an entire system process, involving suppliers, everyone in the accomplishing organization, and customers.