The latest buzz word heard in boardrooms, business schools, seminars, executive conferences, lectures, and in management consultants' proposals is “technology management.” In this context, technology is not simply science applied, nor is it simply research and development activity. Technology has become a synthetic term for a number of techno‐socioeconomic forces at play in our material world. And in technology management we have yet a higher level of abstraction. Its seductive appeal consists of the implicit promise that technology can be managed by the corporation just like any of its other resources such as people, capital, and materials. The term suggests that companies can pick and choose between good technologies that lead to growth and profits, and bad technologies that lead to sterility and decay. It also implies that companies can defend themselves against technological surprises.
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