How Technology Management Practices
Help Transformational Technologies Succeed
November 30, 2013
Foundations of Management and Technology
TMAN 600 – Section 9040
Transformational technologies that evolved at the beginning of the 21st Century changed the way we live our daily lives. These innovations were sometimes created from a simple thought. Some innovations were unfortunately considered to be failures. But every innovation, no matter what degree of success or failure, helped to transform the next generation of technology innovations as well as our thirst for new and improved technology. “New technology creates new opportunities for men and societies, and it also generates new problems for them” (Teich, 2013, p.73).
The current generation of innovators needs to understand that these technologies are to provide improved convenience in all facets of our lives. As it becomes more about being able to work anywhere at any time as well as stay connected with family and friends no matter where we are, technology needs to be multi-dimensional just like that little black dress women can wear during the day for work and then can easily dress it up for a night on the town. These innovators also need to have many tools in their tool box as well as understand how to manage not only the technology they invented but also how to manage those around them that are involved with helping to make their innovation a successful product for the commercial market place. “Technology innovation is important source of value creation”, “it has a profound effect on the creation of wealth for individual entrepreneurs and corporate shareholders”, and “it has a major impact on our lives” (Shane, 2009, p.7)
Examining two companies who had technology innovations where one was successful, Square, and one that was a failure, Napstar, will demonstrate how technology management practices are an important factor for technology innovation to become a success and to live past the initial 30 seconds of fame. Many innovative technology companies fail because their entrepreneurs made a bad decision in what innovations they sink their assets in. “Put yourself in the customers’ shoes and see if you have a need for the product you are thinking of developing” (Shane, 2009, p.122). Companies need to manage the uncertainty of how the innovation will succeed as well as make good decisions during the life cycle of the innovation so using sound technology management practices will help entrepreneurs to be successful.
“The most important startup in early internet history was also one of the most controversial” (Nieva, 2013). Napster concepts are still in the foundation of emerging technologies. Napster’s premise was to “make it easier for people to be able to swap music files” (Nieva, 2013). Sharing music files in a central location, which in today’s technology relates to iTunes as well as cloud computing, made it easy to get music for free. Users quickly embraced the Napstar’s service but the music industry took note and followed up with law suits especially when musicians were finding their music available on Napster prior to it being released to the public (History, 2001). The technology was ground breaking but Napster was found to have infringed on music artists copyrights. The organization’s legal battles were the last straw which caused the organization to fail.