Management Processes Needed to Make a Company Successful

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TMAN 611 Term Paper

Frank Foltyn

Principles of Technology Management

Term Paper

TMAN 611 Section 9040 0702

May 5, 2007

What are the needed processes of effective management of technology that relate to the success of company's?

As global competition is exponentially increasing, management is forced to assess its vision and make sure the objectives are realistic and attainable in order for the company to be successful. There have been companies that were ranked on top of their industries and then regressed and returned to the top of their industries. This change of ranking in terms of market share occurred at Apple Inc. because of not effectively pursuing the valuable processes needed to manage technology successfully. Apple Inc. was not in the list of top five on a global computer hardware ranking between 1999 and 2005. "This fact stands in sharp contrast with Apple's position as of mid-1994, when the question was whether Apple was No.

1 or No. 2 in worldwide PC shipments" (Hackett, 2006, p. 8). Reasons for the company's retreating in terms of market share included its well-publicized internal problems, enhanced by a fiercely competitive market. A change in Apple's strategic management plan was tremendously needed for Apple to regain its brand in the global PC industry. On the other hand, Vonage is not so lucky in terms of changing their operations to meet shareholder loyalty and trust. The company came to market with a perfect technological product, however, poor decisions in the licensing of their products and patent infringement is causing the company to go bankrupt. Recently, changes in management of technology techniques have helped Apple become a success in the PC industry, whereas Vonage might not have that ability to become a success and it will be forced to sell its assets.

The history of...